Before you learn how to perform a SWOT analysis, it is important to understand not only what it is, but also how it can positively impact customer service.
What is a SWOT Analysis?
A SWOT analysis can help improve the way you do business. It is designed to help identify problem areas and resolve or address areas that can be enhanced. It stands for Strengths, Weaknesses, Opportunities, and Threats.
A SWOT analysis is a simple tool that is easy to use. You can either create a sales and marketing SWOT analysis yourself, or you can run one with guidance. Regardless of how you choose to run the tool, you will want to have representatives present from all different departments of your company. This will offer a full spectrum inventory of the analysis to ensure all areas are addressed as extensively as possible.
Don’t let the process feel overwhelming. Even though you will want all areas of your company represented, the entire process should only take about two hours or so. When a SWOT analysis is done efficiently, it will not take up valuable work hours.
Your company’s strengths are considered an internal condition that you have the power to change. Some examples of strengths are:
This means you can capitalize on imperative components of what your company has to offer. Create a brand that is simple to understand and easily digestible. Even the most complex business models should be able to be broken down.
Hire team members who are going to make customers feel welcome and who have a friendly disposition, all while realizing the importance of excellent customer service. This step in itself will greatly impact your reputation and how your customers view you.
Another internal condition of your company is its weaknesses. Again, this means they can be controlled by you and your team. Some examples of possible weaknesses include:
Limited Area Your Company Serves
High Cost of Products
Low Advertising Budget
Old Technology and Resources
Extend your reach to offer online resources if you can. Be sure you have the latest technology for your employees to communicate with and for customers to utilize when interacting with you. Also, make the most of your advertising dollars and spend them wisely.
Opportunities are considered to be an external condition. This means they are more difficult to control. They include things like:
Lack of Dominant Competition
While you cannot control what type of competition you have, you can make the most of it if it is an opportunity in your company’s line of work. If you can reach out to new markets, offer unique services, or promote new technology, then these are all things to use as opportunities.
The last external conditions are known as threats. They have the possibility of impacting your company in a negative way. They include:
Changes in Production Costs
Customer Purchase Trends
Unfortunately, there is little you can do about these. However, being aware of what they are enables you to address them from a place of knowledge. Awareness is key.
How Can a SWOT Analysis Create Better Customer Service?
By running this tool, you are addressing areas of possible concern in a proactive manner. You are not waiting for your customers to come to you with issues. When you tackle potential issues from an offense position, you are highly likely to prevent the need for a defense stance in the future.
A company that is operating at its best is better for everyone involved. A SWOT analysis provides beneficial information that can elevate your company to success and provide the information necessary to get there.