Marketing analytics software plays an important role in optimizing your strategy, especially when it comes to uncovering hidden trends that can fine-tune your campaigns. But the high-level discussions around your business marketing strategy can be enhanced by a much simpler approach: a SWOT analysis.
Standing for Strengths, Weaknesses, Opportunities and Threats, this analysis is a simple but effective way to audit your current overarching strategy, with a focus on making improvements going forward. According to Entrepreneur, marketing and business leaders can use the SWOT approach to make changes to existing strategy, prioritize campaigns and reallocate budgets, while identifying new channels, campaigns and messaging worth exploring.
A SWOT analysis is easy to run, and it can tell you a lot about your marketing efforts. Here's an overview of how to guide these conversations.