Brand marketing is an ancient art form. Did you know ancient civilizations would stamp their goods for customers to guarantee the quality? That was probably the earliest form of cultivating brand loyalty.
Then came the printing press. With it, we entered the age of pamphlets, posters and paper-centric information.
With mass media, brands made an appearance everywhere. Outside your window on a billboard, next to your favorite newspaper crossword and in between your favorite TV show.
If you follow the trail, brands go where the customers are. When the consumer moved online, all companies followed suit. We are now in the age of digital marketing. It’s an advanced form of the marketing industry that uses sophisticated techniques and technology to reach the target customer. Unlike earlier, you no longer have to shout from the rooftops about your brand. Now you can quietly slip into someone’s email or cleverly catch their attention through social media algorithms. In 2022, five billion people were on the internet. With digital marketing, not only can you effectively reach out to this massive number, but you can also personalize the message to have a significant impact. It also helps to perform a SWOT analysis in marketing as it always helps to understand your company better and enhance productivity.
What Is Digital Marketing?
Digital marketing is a form of online communication that uses different electronic media to promote brands and spread messages. People are constantly on their phones, tablets or computers. Look around, and you’ll see eyeballs glued to phone screens everywhere. That tiny piece of digital space is prime marketing real estate. You can use it to showcase ads, banners, links, direct emails and social media posts that are tailor-made to appeal to the customer. It’s an exciting opportunity to be creative yet precise. You can fine-tune your strategy to appeal to specific consumers. It is a fantastic way to generate interest in your products among potential customers as you create a unique connection.
Why Do Digital Marketing Agencies Use SWOT Analysis?
The competition between brands has never been more fierce. If you want the online user to prefer your brand and be a loyal customer, you need a structured system to form your strategy. That is what SWOT is all about. Here is the SWOT full form in marketing:
SWOT isn’t a new tool. It has already been implemented by companies the world over. However, it has also proven useful when it comes to digital marketing. It is a valuable method to help your business become successful and stay ahead of the competition.
What is SWOT analysis?
The SWOT method can help you create a long-term digital marketing strategy that works. It is essential to ask the right questions when doing the analysis.
- What is the company’s USP?
- What is the quality of services compared to other businesses?
- How strong is our brand recall?
- Do we have a strong clientele?
- In which areas are we lacking productivity?
- Where are we falling behind our competition?
- What complaints have we received?
- Any internal limitations are affecting our targets?
- Will the new product fill in a gap in the market?
- Can we reach out to a larger audience?
- Is there a faster, more efficient way to increase numbers?
- Is new technology affecting our business?
- Are new products in the market taking our customers?
- Is there a lack of resources due to unforeseen circumstances?
Benefits Of Doing A SWOT Analysis In Marketing
- You can build an efficient model that helps you accurately gauge the business performance
- Analyze the organization’s internal and external strengths
- You learn how to increase visibility in the market
- Develop a plan of action that is implemented when needed
- Discover new areas of opportunities
- You can understand your business position in the market better, especially when compared to the competition
- You solve customer problems and business-related challenges
- Understand where the company needs improvement
Case studies for SWOT Analysis in digital marketing
The electronic transformation of businesses has created a paradigm shift in how companies are run. You need a high-powered digital strategy to optimize your presence across all online channels. Here are a few major companies that have successfully used product SWOT analysis to enhance their digital marketing campaign.
As one of the most viewed OTT platforms, Netflix has nearly 200 million subscribers all over the world. However, they are facing a lot of competition from other streaming services and have lost quite a few subscriptions in 2022. Here is the SWOT analysis for Netflix:
- The streaming service enjoys a strong reputation worldwide and has a big name in the market
- Award-winning, original content across various genres that is customized to every region
- Flexible services
- Uses data analytics to create algorithms for personalized recommendations
- The user-centric strategy aimed at keeping the customers happy
- Available across different media platforms such as phones, tablets and laptops
- Uses SEO, social media channels and emails to attract and retain customers
- Prime content is largely aimed at the North American region and needs to improve quality for non-English speaking areas
- Limited copyright issues which affect their profits
- Weak customer service department that influences consumer satisfaction
- Pricing is higher than the competition
- Increasing debt
- Can enter other digital domains such as gaming, VR, interactive channels, etc.
- Tie up with production companies in various countries and encourage new talent to create high-quality yet localized content
- Improve social media presence by collaborating with influencers, celebrities and industry giants
- Create an innovative digital marketing strategy to promote content and create hype
- Use algorithms to personalize direct emails to every customer
- Introduce an advertising-based model to increase revenue
- Losing subscribers to cheaper services like Amazon Prime and Disney+, YouTube
- Stricter government rules in some countries can affect the content streamed there
- Saturated markets as subscription rates have slowed down
- Piracy over Netflix shows occurs all over the world, leading to several losses
What started as a beverage company to rival Coca-Cola, is now a multi-brand, diversified food giant with a steady hold over the market in many countries. However, the packaged food industry is saturated with many products. Can the company continue to command such a large share of market value?
Here is the SWOT analysis for PepsiCo:
- Overwhelming global presence in over 200 countries
- Occupies a dominant position in all major outlets, such as restaurants, supermarkets, vending machines, etc.
- Known for its award-winning advertising and traditional marketing strategies
- Targets the younger generation
- Excellent supply chain management system that reduces production costs
- Partners with major sports events and hires famous celebrities as brand ambassadors
- The entire portfolio of products is in the ‘unhealthy’ classification, therefore a large section of the target audience, i.e. children, are not allowed to indulge often
- Spends too much money on retaining big celebrities, TV ads and other forms of traditional media
- Are responsible for contributing to major environmental issues such as excess plastic production, water and air pollution, etc.
- Have quite a few failed products in their kitty, such as Pepsi Blue
- The company has been in several controversies over the years, which has tarnished their reputation
- Expanding their presence online through various e-commerce platforms
- Increase research and development funding in the health food sector of the industry
- Adapt to changing trends by introducing newer flavors and updating older packaging to appeal to a younger audience
- Most of the younger generation is now found online
- Explore options to connect with target audiences through social media ads, online content sponsorships, banners and emails
- Hire digital content creators to add value to PepsiCo’s online presence
- Tie up with online food brands or food delivery apps
- There is intense competition in the food and beverage industry
- Many consumers are moving towards a healthier lifestyle and are well aware of the harmful effects of excess salt and sugar
- If PepsiCo doesn’t adapt to newer technology and changes in the marketplace, it will lose out to stronger competitors
- Government regulations about ‘unhealthy’ foods can affect their business
- Demographics are changing as some countries have a higher population of older people which is not PepsiCo’s target audience
- Sales are hit during economic crises and recessions
A multinational chain of coffeehouses that is also a multi-billion dollar enterprise, Starbucks is a textbook corporate success story. The organization took the humble cup of coffee and transformed it into an addictive experience. However, can they make as much of an impact with most of their customers shopping online?
Here is the SWOT analysis for Starbucks:
- Loyal customers who are devoted to buying Starbucks products
- A wide selection of premium beverages and edibles
- Cool, urban vibe that appeals to most coffee drinkers
- Huge presence and a strong reputation around the world
- Continues to be a profitable venture
- There are a lot of newer, cheaper options available on the local level in several countries
- The company is subjected to different government regulations and tax laws that exist in other nations
- It can be a challenge to procure coffee beans at competitive prices, especially from other countries
- The menu needs to change periodically to ensure customers don’t tire of the brand
- The Asian markets are an untapped segment and prime for expansion
- Moving to online delivery apps can help reach a wider net of customers
- Direct marketing methods such as social media tie-ups and emailers can keep the customer aware of new products and discounts
- Use data analytics to observe the more popular, trending products and capitalize on them
- Other multinational fast-food chains such as Mcdonald’s offer cheaper coffee
- The younger generation prefers healthier or vegan options for hot beverages
- Too many sugary drinks or salty foods can be considered a ‘health hazard’
- The lack of a strong digital presence can cause the brand to lose some of its value
About The Digital Marketing Course
If you want to be the next big thing in digital marketing, you need to do a course and get certified first. A digital marketing qualification teaches you industry-centric knowledge and skills to master the genre. Once you receive your certificate, you can work in any company. Almost all organizations are now online or are getting there. As a digital marketing specialist, you will be in great demand.
Here are some of the topics that are covered in the digital marketing certification
- Internet marketing foundation
- Paid Search Marketing
- Display Advertising
- Email Marketing
- Social Media
Why Proschool’s Digital Marketing Course Is One Of TheBest
A good coaching center helps you holistically prepare for the digital marketing course. Proschool has a wide range of resources, innovative teaching methods and a stellar faculty to ensure you are well-equipped to join the industry. The institute has adopted active learning methods, so the students learn from real-world examples. The students are put together in groups and work as a team. The onus is to learn by ‘doing’. There is also a strong focus on skill development. Once you finish the course, you are eligible to apply for six certifications by Google, Facebook, LinkedIn, etc.
- There is a 3-week that spans 20 hours
- The 3-month course has an 80-hour duration
- You receive an NSDC certification with the 3-month program
- You can attend weekend classes or do the course online
- The coaching classes cover all the subjects, including case studies using SWOT analysis
- On completion, Proschool offers all its students job placement assistance
- You are well-trained in digital marketing and ready to apply for any entry-level job
Digital marketing is here to stay. Traditional companies are fast making a move online while new start-ups begin their journey in cyberspace. To help businesses grow, a SWOT analysis of digital marketing is an important tool. It draws focus on the key points of the company and areas where improvement is needed. You can do it at any time, for any reason. And the results will help you achieve your targets.