How do you conduct a SWOT analysis for your advertising campaigns?

I find it extremely effective to, not merely consider what my idea's strengths and weaknesses are, along with my competitors, but also examine what I can get accomplished, against what I think my competitors can too. It's not enough to evaluate binary stuff like where our bellies are exposed, et. al. It's more important, perhaps especially in the SMB space, to explore what is realistic to achieve, and compare it, apples-to-apples with competitors capable of the same quality and quantity of marketing. From there, we can only then begin to consider the soft stuff, like doing "it" quicker, more often, and with more style. After all, marketing is disruptive for the sum of its parts, not just because it possessed nifty creative.

I have found that a SWOT analysis is most effective when everyone in the company has buy-in to the process. Oftentimes, unknown kinks in the system are discovered that grow into large issues reflected in the analysis. But enough time needs to be dedicated to revealing these issues. We can pull weeds all day long, but until we get to the root, the problems will just grow back.

I think a SWOT analysis is overlooked as a marketing tool. It’s a common practice for many agencies to conduct a SWOT analysis for new clients during the intake process but often times that is the first and last time it’s used. If you look at a SWOT analysis as more than a benchmarking measurement and view it as a compass, it can be used on a micro-level to inform even minor marketing decisions such as, whether to devote more budget space to paid or organic social content or what signage to incorporate into a client’s tradeshow booth. Taking the bigger picture into account is a key factor in making decisions that lead to client success.

My Experience and Mindset In Creating A Marketing Strategy, (or Business Strategy) Is To Understand What Is The Desired End Result…What Do You Want To Achieve From The Execution Of This Strategy? (Is The Desired Result…Drive Sales…Is The Desired Result Build Brand Equity…Is The Desired Result Build A “Fan Base” To Target and Engage With Your Next Strategy?). From There, I Would Review Who Is The Best Audience To Engage With To Achieve The Desired Results? Who Do We Want To “Invite” To The Strategy? Build The Target Demographic - This Helps Keep The Strategy Focused and Minimize The Waste. This Insight Will Also Provide An Framework For What Assets To Use To Engage The Audience. Then, Create The Budget and The Timeline…

Among the data studied should be how much can others produce, how often and of course, how good? Take a blog campaign. Ongoing and frankly critical to any thoughtful biz dev, but too often our analysis centers on marketing orthodoxy, not our circumstances. But we're specific marketers, comprising specific competitors, with specific goals. I sell cable, for instance, but many do. So, how do I separate my content from another cable maker that, like me, produces world-class products? Well content alone ain't enough. My SWOT must therefore include a study of how well, how often and how substantive I can make my content, compared with yours. Google is gonna put something on Page 1. So, if its a race among poor content, there's my opportunity!

A SWOT analysis is only as good as the research behind it. You can’t make a successful strategy without quality data to inform your decisions. Honesty is also key. This is not the time to take an idyllic view of your company or product. The Weaknesses and Threats categories hold equal weight with the Strengths and Opportunities categories. Own up to the areas that need improvement and build your campaign with all aspects of your SWOT analysis in mind

My Thoughts Are To Keep The Analysis Simple…Concise, However, Simple. And It Is Important To Compare To The Goals You Established In Your Marketing Strategy. Points To Consider: *Review Results - Did The Campaign’s Results Meet Your Strategy’s Goals? *Review Areas Of Engagement - Where Did Your Customer’s Engage With The Message? - What Assets Had The Strongest Impact On The Results - What Message Had The Strongest Impact On The Results *Review Demographics Of The Customer’s That Engaged With Your Campaign? - Who - When - Action (If Possible, Can You Follow The Customer’s Journey) From This Information, You Can Begin To Study The Strengths/Weakness/Opportunities

Audit, audit, audit. Audit your previous campaigns, targeting, content, creative, budget. Audit your competitors, what seems to work for them, what doesn’t. Analyse and optimise via tools like Semrush, the Meta ad library. Plan ahead guided by insight and learnings but do not stop experimenting.

If done correctly, you could end up with a mountain of data. It looks nice in a report and makes for some interesting reading before bed. But what are you going to DO about it? Make sure to create a concise plan with clear divisions of duties and responsibilities. Otherwise, your analysis is just an exercise in futility.

At our agency, FPW Media, we incorporate a SWOT analysis into our new client onboarding process. This helps us establish a baseline understanding of the client’s goals and position in the marketplace. A SWOT analysis can also be incredibly useful before launching a new advertising campaign. Before determining the execution plan for a campaign, you should have a solid understanding of what competitors are doing in the space and how your product or service is going to stand out.

You Should ALWAYS EVALUATE Your Advertising Strategy…and Not Just At The End Of The Campaign, However, More Importantly, Throughout The Strategy’s Execution. The Key To A Successful Marketing Strategy, (and Business Strategy), Is Consistent Review, Evaluation and Course Correction While The Strategy Is Being Executed. You Should Not Wait Until The Strategy Is Completed To Evaluate. If You Are Consistently Analyzing Your Strategy, You Can Make The Necessary Changes To Improve The Strategy…Think About The Time You Will Save…The Money You Will Save…and The Results You Will Improve By Monitoring The Strategy Throughout The Journey.

Recently, we had a client who was looking for new ways to reach their audience via television advertising. After conducting a SWOT analysis we discovered the Opportunity for the client to shift some of their television advertising from linear TV ads to CTV ads. When combined with the Strengths we provided them in creating quality video content, and noting the Threat of competitors encroaching on the CTV ad space as early adopters, we advised our client to create a new CTV ad campaign. The campaign garnered early success and led to additional ad spend on CTV ads for other client product lines.