Performance analysis and forecasting tend to overlook a key factor: market conditions. Attention is focused on indicators and internal results, without seeking more general information and yet just as valuable.
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A SWOT analysis takes into account both internal business conditions and those of the market. It consists of sketching a strategic vision of the main opportunities and challenges posed by content marketing in the market. The analysis should lead to the development of a general action plan, listing the key tasks that will increase the impact of your content marketing.
This article describes the fundamentals of SWOT analysis and explains how to integrate this tool into your annual planning process.
Definition and objectives of a SWOT analysis
SWOT analysis is part of a company’s strategy. It is a matrix intended to assess the success of a company or a project by jointly studying internal data (strengths and weaknesses of the company or project) as well as external data (opportunities and market and competitor risks).
The 4 elements of a SWOT analysis
You can use a SWOT analysis template or just draw a square divided into quarters on a sheet of paper, like in the illustration below.
Then complete each of the sections as indicated below.
Internal analysis: strengths
List here the three to four strategic forces internal of your current content marketing. You need to identify your most effective projects. For example :
- Expertise established on a subject that particularly interested your target audience.
- A well-defined blog strategy, accompanied by a continuously enriched editorial calendar.
- Trusted partners who help promote your content and drive traffic.
- Google Ads campaigns optimized for content delivery, efficient and very profitable.
- Social networks fed with content relevant to your audience, on a very regular basis.
Internal analysis: weaknesses
List here the three to four strategic weaknesses internal of your current content marketing. Again, you can complete this box even if you haven’t created any content yet. For example :
- A lack of human resources specialized in content creation.
- Difficulties in measuring the ROI of your projects.
- Content focused on one segment of the funnel, for example, lead generation, to the detriment of another, such as closing deals.
- Projects that don’t generate enough SEO traffic.
- Content too far from influencers to benefit from their reach.
External analysis: opportunities
List here three to four opportunities external, major and specific to your market. For example :
- Paid social media posts may be less competitive in your industry than Google Ads campaigns.
- Long tutorial-style articles would drive more traffic at the top of the funnel and lead to more leads.
- Video presentations of your products could improve the conversion rate.
External analysis: risks
List here three to four risks external specific to your entire market. For example :
- The content created can easily be copied by your competitors, as is the case with industry e-books.
- Your competitors have the means to develop a resource center more complete than yours and therefore threaten your position in the search engine results.
- Your competitors are more likely to partner with influencers.
Use SWOT Analysis to Create an Effective Strategy
Once your SWOT matrix is completed, you can use all the information gathered to create an action plan.
Thanks to your SWOT matrix, you have:
- Identified the levers on which you can capitalize.
- Highlight the blocking points that could be a threat to your business.
- Identified the opportunities to seize in order to significantly increase your turnover and win new customers.
Your action plan must be based on all of these parameters. This will help you avoid certain mistakes, especially when planning your digital marketing campaigns. Also remember that the environment in which you operate is constantly changing and that the truth of today is not necessarily that of tomorrow. You have to be ready to regularly adjust your actions thanks to a very flexible model, especially regarding your long-term projects.
To go further, download this e-book to improve the conversion rate of your site.