Insights

There's no "customer" in "SWOT."

Recently we worked with a client who presented us with their historical advertising and marketing efforts, including a 30-page SWOT (Strengths, Weaknesses, Opportunities, Threats). SWOT is a strong tool that has worked for many companies over the years, but we were instantly skeptical of this particular document. Conspicuously absent was the most important element of marketing: the target. The very people who need to act in order for you to succeed.

And therein lies the real danger of reliance on a SWOT analysis. It can be a little too easy to forget the customers who make any marketing and advertising effort work. Here is how people generally complete one of these documents:

Strengths: A list of how our product or service is superior.

Weaknesses: A list of our product or service downfalls.

Opportunities: A list of how we’ll turn our weaknesses into strengths.

Threats: Generally a list of competitors.

It’s not that we dislike this model. But with a little tweaking, the people who will choose your product or service can be added back in. Just add these questions to your list:

Strengths: How is our product relevant to people? Is this something they would talk about? Why?

Weaknesses: Do people care about us? Are we fitting into their lives? Could we make ourselves more relevant to them?

Opportunities: Is there something about our product that would be more meaningful to people? How can we make it more meaningful?

Threats: Are there reasons more people aren’t using us/buying us? Can we change our product or service fast enough to meet people’s needs and stay relevant?

It all comes back to the very simple idea that as a customer-based business,

you can’t lose sight of the customer. (And this happens every day in every business.) You will live or die by them and their use and perceived value of your product.