Wednesday, 8 August 2012

Social Media SWOT Analysis

The concept of applying the social media SWOT analysis is a useful concept that can help you in successfully building your presence on social media.

What is Social Media SWOT Analysis?

SWOT analysis is a topic that repeatedly has been processed by an entrepreneur. In SWOT Analysis in four steps we write that:
SWOT analysis is a tool for planning, especially strategic planning. It is used for assessing Strengths and Weaknesses as the internal elements of the company, Opportunities and Threats as external elements of the company.
When it comes to these platforms, this analysis will be applied to assess the strengths and weaknesses of your company on them as interior elements and the opportunities and threats as external elements.
Social Media SWOT Analysis
Social Media SWOT Analysis

In this section, I will try to give an approach for implementing the SWOT analysis through answering several questions in the process.

Questions That You’ll Need to Answer

Questions should be grouped into two parts – internal and external elements.

Questions for internal elements

The internal elements need to show you the strengths and weaknesses of your company on social platforms. Answer as many questions as you can. Be realistic, don’t avoid weaknesses. By avoiding it, you cannot improve your business.
  1. What is the experience of your company on social platforms?
  2. What you are doing well, and what are you doing wrong on them?
  3. Do you have the enough staff for building a presence of your company?
  4. What is the motivation of staff for building a presence?
  5. Do you have an appropriate technology for building a presence?
  6. How you can use that technology?
  7. What are the knowledge and capability of employees to use that technology?
  8. Do employees use different social media in their private life?
  9. If they use something as can you utilize that for business purposes?
  10. What is the level of cooperation between employees in your company?
  11. Is management willing to use social media?
  12. Does management know how to train employees to use this media?
  13. Does your business allow entertainment?
  14. Can you use that entertainment to build a presence?
  15. What is the level of creativity in your company?
  16. Do you already have a website or blog that creates valuable content?
  17. Are you or your company using these platforms for personal or business goals?
  18. What are the types of media that you use, and how many platforms you use?
  19. What is your expertise in the industry?
  20. What is the global expertise of your company in the industry in which operate?
These are 20 questions that will guide you through the process. Feel free to add more questions that you feel are valid as internal elements that will show you what is your weaknesses or strengths on these platforms.

Questions about external elements

External elements need to demonstrate the opportunities and threats that your company should utilize or avoid on social media. Answer as many questions as you can. Be realistic, don’t avoid threats.
  1. Is the technological development in the field of social media an opportunity or threat for your business?
  2. What do your customers value about your business?
  3. Are your customers using technology to be present on social media?
  4. What is the compatibility of yours and your customers presence on these platforms?
  5. What is compatibility of your employees and your customers presence on these platforms?
  6. How you want your customers to communicate with your business?
  7. How your customers want to collaborate with your business?
  8. Do your customers need training to use your products or services?
  9. What strategy uses your competitors to build presence on these platforms?
  10. How your competitors communicate with their customers?
  11. How your competitors educate their customers?
  12. Where are the customers of your competitors?
  13. What is the expertise of your competitors?
  14. What technology uses your competitors?
  15. Are your suppliers present on these platforms?
  16. What impact can have your suppliers on you and your company on these platforms?
  17. Is there a threat that your supplier can enter on your market?
  18. Many illegal businesses are trying to sell through these platforms. What impact does this have on you?
  19. Does in your community exists enough people trained to be a part of your business team?
  20. Is the educational system in your community includes training about new technology?
These are 20 questions that will guide you through the process of analyzing the opportunities and threats. Feel free to add more questions that you feel are valid as external elements that will show you what are your opportunities and threats.

What’s next?

Furthermore, you must continue with standard operating procedure for implementation of the SWOT analysis that includes:
  • Constructing the SWOT matrix
  • Defining the strategies.
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