Why is that a good thing?
It means that the money you spend on marketing is more likely to produce the business results you’re looking for (more customers, larger market share, increased revenue… whatever your particular objective is).
When you do a SWOT analysis, you brainstorm and list out your company’s
- Strengths (what are the positive attributes of your company, product or service?),
- Weaknesses (what are the negative attributes of your company, product or service?),
- Opportunities (where are the market opportunities for your product or service?),
- Threats (what are the main threats to your company?).
The SWOT analysis can help you find a way to use your company or product strengths to take advantage of market opportunities, and identify and work on weaknesses that might inhibit your ability to take advantage of those opportunities.
To be successful, it’s important to always be on the alert for market threats. Leverage your strengths to either eliminate or reduce the impact of threats, and work to address any weaknesses that may increase the criticality of threats.
Finally, prioritize marketing activities and messaging that highlight your strengths, and help you take advantage of opportunities.
For more on doing a SWOT analysis, take a look at this article: “Doing a SWOT Analysis to Focus Your Marketing Strategy.”