SWOT Analysis
A SWOT analysis is a kind of tool that looks at a single piece of a business’ value chain, or the whole company, to recognize positive and negative attributes in the environment. If we talk about your website, this tool can be used to recognize the strengths and weaknesses of a website (i.e. the internal environment) and the opportunities and potential dangers to a website (i.e. the external environment).
The SWOT questions to ask on your competitors?
Strengths
- What does your competition do really well?
- What are they known for?
- What attracts customers to them?
- Why do customers ultimately end up purchasing from your competitors?
Weaknesses
- What do your competitors’ customers regularly complain about?
- What problems have you experienced when you “shopped” with them?
- What products or services should they offer but don’t?
Opportunities
- Are your competitors doing anything that presents an opportunity for your small business?
- Have they stopped carrying any products?
- Have they changed any of their services?
Threats
- Is your competition doing anything that presents a threat to your business?
- Have they lowered their prices recently?
- Are they offering new products or services?
- Are they moving to a new location closer to you?
What are you trying to analyze?
Take this opportunity to find your competitor's strength on their conversion or marketing strategy website on their website. You will be able to understand which SEO keywords or key function which helps them to bring in sales and advantages. After analyzing all the data, you will be able to derive a web development strategy that can attain better conversion through content marketing or a stronger CTA.
Team Oasis recommends that your company should conduct a SWOT analysis of at least 3 competitors before beginning your web development project. Do use SEMRush to track competitor advantage and weakness to create a top-notch Web Development Strategy.
