How to Do a SWOT Analysis for Your Marketing Strategy

If you’re building a marketing strategy for your small business, one of the most powerful tools at your disposal is a SWOT analysis. It’s simple, strategic, and incredibly effective at helping you understand where you stand, and where you can grow.

What Is a SWOT Analysis?

A SWOT analysis is a strategic planning tool used to identify your business’s:

• Strengths
• Weaknesses
• Opportunities
• Threats

It helps you assess internal and external factors that can impact your marketing success. Think of it as a snapshot of where your business is today, and a roadmap for where it could go tomorrow.

You can use a simple 2x2 matrix to organise your findings:

Why SWOT Is Useful in Marketing

A SWOT analysis helps you:

• Clarify your brand position in the market
• Identify gaps in your current marketing strategy
• Spot growth opportunities you might be missing
• Prepare for challenges before they become problems

It’s beneficial when launching a new campaign, entering a new market, or reviewing your annual marketing plan.

Step-by-Step Guide to Conducting a SWOT Analysis

Let’s break down each section of the SWOT framework and what to look for:

Strengths

These are internal advantages that give your business a competitive edge.

Ask yourself:

• What do we do better than our competitors?
• What unique resources or skills do we have?
• What marketing channels are performing well?

Examples:

• Strong brand recognition
• Loyal customer base
• High-performing email campaigns

Weaknesses

These are internal limitations that may be holding you back.

Ask yourself:

• Where are we underperforming?
• What skills or resources are we lacking?
• Are there gaps in our marketing funnel?

Examples:

• Low website traffic
• Inconsistent social media presence
• Limited marketing budget

Opportunities

These are external trends or changes you can take advantage of.

Ask yourself:

• Are there emerging trends in our industry?
• Are there underserved customer segments?
• Can we expand into new channels or markets?

Examples:

• Growing demand for eco-friendly products
• New social media platforms are gaining traction
• Competitors exiting the market

Threats

These are external factors that could negatively impact your business.

Ask yourself:

• What are our competitors doing better?
• Are there changes in customer behaviour or regulations?
• Are we vulnerable to economic shifts?

Examples:

• Rising ad costs
• Negative online reviews
• New competitors entering your space

Example SWOT Analysis for a Small Business

Let’s say you run a local organic skincare brand. Here’s what your SWOT might look like:

How to Use SWOT Insights in Your Strategy

Once you’ve completed your SWOT analysis, use it to:

• Double down on strengths: Highlight them in your messaging and campaigns.
• Address weaknesses by investing in training, tools, or partnerships to fill the gaps.
• Pursue opportunities: Test new channels, products, or audiences.
• Mitigate threats by building contingency plans and closely monitoring trends.

For example, if you discover that your email marketing is a weakness but your Instagram is strong, you might start by repurposing your best-performing posts into email content.

👉 Need help turning insights into action? Read our guide on How to build a marketing strategy or What is a positioning strategy?

Final Thoughts

A SWOT analysis is more than just a box-ticking exercise, it’s a strategic lens that helps you make smarter marketing decisions. By understanding your internal capabilities and external environment, you can build a marketing strategy that’s both grounded and growth-focused.