Like the cover of a jigsaw puzzle box, we know what our goal is supposed to look like before we start putting all the pieces in place. pazles

The challenge is deciding how we go about doing that.

Do we complete the frame first and work to the centre?

Do we look for similar colours and patterns and complete those sections first?

We all go about completing the puzzle in our own ways.

Sometimes we’re patient and examine each piece for the exact “outies” and “innies”.

Sometimes we’re not and try to force pieces together or maybe even pull out the exacto and make it fit. (Aw, c’mon. You haven’t…really?)

 

The first step of course is to know what you’re working towards. That’s the goal.

The first step towards establishing clear social business goals is to make them Specific, Measurable, Attainable, Relevant and Time-bound.

Once your S.M.A.R.T. goals are identified, we can look at building a strategy.

In my recent blog post: How to Start Building a Social Business Strategy, I looked at how you could start optimizing your social media presence by:

1. Listening to what people are saying on line and to what questions they’re asking.

2. Developing a content strategy that responds to those questions and identifies what kind of content to produce that will resonate with your community.

3. Evaluating your progress through assessment and analysis by using free online tools like Google Analytics and Facebook Insights

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Back to Business Basics

Over my thirty years of managing small business and non-profits, I’ve learned the slow and hard way that it’s important to know what we’re good at, what we suck at and what opportunities and threats exists.

This is where S.W.O.T analysis comes in.

“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle” .” -Sun Tzu, from the Art of War

SWOT is basically a strategic planning tool that helps you position yourself in the marketplace. You can think of it as a strategic balance sheet.

The purpose of the SWOT analysis is to provide information on our strengths and weaknesses in relation to the opportunities and threats we face.

It can be used for any company or project. Here, I’m using it as a tool to build your social media strategy.

(You can see examples of Apple, IBM. and Ben & Jerrys’ completed SWOT analysis here.)

 

SWOT (2)

     

      Internal

          (Can control)

 

      External

  (Can’t control but can impact)

 

 

Strengths: You want to capitalize on these.

What is done well that could give you an advantage on social media?

  • Does your product lend itself to visuals like video and photos?
  • Do you already have content that you can re-purpose?
  • Do you have a culture that is collaborative and customer focused?   

 

Weaknesses: You want to shore up these. 

What can be improved?

  • Lack of resources, either financial or human
  • Lack of knowledge about the social platforms
  • Apathetic or resistant staff

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Opportunities: You want to invest in these.

What outside factors would help?

  • Increased adoption of social media by your target client base.
  • Number of tools developed to make managing social media more efficient
  • Prospective employees already social media savvy.

 

Threats: You want to identify these.

What external elements could limit your success?

  • Fast pace of technological and software evolution
  • Regulation and control of social channels through government privacy regulation
  • Off site hacking of website and social channels

 

If you want a good 8 step method of executing your SWOT analysis check out this article. 

Have you done a S.W.O.T. analysis on your business?

 

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About Ray Hiltz

Ray Hiltz is a Social Media Strategist with management roots in restaurant, hotel and performing arts. A strong proponent for the power of collaborative communication and "humanized" digital networking, Ray writes about social media, social business and Google Plus. His clients include hotels, restaurants, consulting firms, entrepreneurs, writers and individuals just trying to make sense of "social". Ray is a popular speaker on Social Media, Social Business and Google+.