5-Step Marketing SWOT Analysis with Santa
How does Santa work out whether he needs to improve or grow his North Pole business marketing? What does Santa use to analyse his business marketing? Answer: Santa uses a basic analysis tool – the SWOT Analysis.
A SWOT analysis is a business analytics tool. With the right knowledge, it can be used across your entire business or to analyse specific areas of your business. It is often used when creating the marketing strategy in a business. It can be used quickly and effectively to understand what has been happening. Which means understanding what is going on now, and where you may want your business to head in the future. It helps you develop a new business or marketing strategy. It also helps to determine if your marketing strategy is on the correct path and in line with your business goals.
A SWOT analysis forms a major part of any business and marketing strategy and is beneficial for your business when used correctly.
What do the letters in SWOT stand for?
S – Strengths
W – Weaknesses
O – Opportunities
T – Threats
For Santa, that means working out the Strengths and Weaknesses INSIDE Santa’s business. Plus, the Opportunities and Threats OUTSIDE Santa’s business.
You can do a SWOT analysis for your business too. Why do a SWOT? To analyse where your business is at and to help you find new opportunities.
Your SWOT can form part of your marketing strategy. It will identify your businesses:
Strengths – that you want to keep, build on, grow.
Weaknesses – that you want to reduce, eliminate, outsource, adjust, or improve.
Opportunities – you want to build on, plan for and implement.
Threats – you want to be prepared for, to minimise disruption and impacts.
Once you have completed the SWOT analysis, you should be able to assess and prioritise several opportunities. These opportunities should align with your business and marketing goals.
A SWOT doesn’t need Christmas magic. It needs a non-biased viewpoint. You must be authentic when you analyse your business, otherwise it is a waste of time. For Santa this was easy.
Is Santa being Good or Bad? Naughty or Nice? Santa put on his thinking cap to create his business’ 5-Step SWOT analysis. Let’s see the outcome of Santa’s Step 1-4. What would you add to any of these SWOT factors?
SANTA'S SWOT IN ACTION
STEP 1: WHAT ARE SANTA’S STRENGTHS?
Forever Happy and Jolly Strong elf workforce Knows his target market Skilled retail merchandiser Adept communicator Strong global brand presence Fast delivery service Excellent at hiding Reindeer power – low emission user
STEP 2: WHAT ARE SANTA’S WEAKNESSES?
Cookies, milk, and beer Can be scary for little kids Leaves coal for naughty kids Reindeer’s eat a lot No succession or exit plan High-cost business Zero revenue stream Kids sit on Santa’s knee for a gift Confused messaging about what Santa can actually do.
STEP 3: WHAT ARE SANTA’S OPPORTUNITIES?
Develop income streams Reduce operational costs Inclusive: target non-Christmas celebrating families Collaborate with child psychologists for ‘naughty’ kids Click and collect from retailers Outsource to Amazon Prime for free international delivery Expansion: South Pole, Equator
STEP 4: WHAT ARE SANTA’S THREATS?
Everyone who locks their doors CCTV Older siblings/friends talking North Pole: hazardous storms Elf on the Shelf: Potential hostile takeover Inflation: Santa may need to make cutbacks Social Media trolls spreading misinformation about Santa Negativity eg “The Year Without Santa Claus” (Rankin Bass)
GET YOUR Marketing SWOT ANALYSIS SMART
After Step 1-4, Santa needed to know what to do with the results. He needed to avoid the ‘Now what?’ situation.
STEP 5: Santa assessed each line of the SWOT Analysis. Santa then prioritised the opportunities and improvement changes he wanted to make.
What were Santa’s prioritised growth opportunities, you ask!….That’s all part of Santa’s Magic Secret!
Hint: When you are completing this step, use a structured assessment criteria such as SMART Criteria. This will help you prioritise the growth opportunities.
SMART:
Is it Specific?
Is it Measurable?
Is it Achievable?
Is it Relevant?
Is it Timebound?
Why did Santa do a SWOT Analysis?
It is important for Santa to regularly undertake a SWOT Analysis for his business marketing. (We’d suggest at least once a year). Here are ten reasons why Santa did a SWOT Analysis:
- Helps Santa understand the business strengths and competencies to continue to grow his business.
- Highlights the weaknesses and what may be lacking in Santa’s business
- Highlights where Santa needs to remove or improve inefficiencies.
- Improves the chances of strategic success by creating short and long-term opportunities for growth. Santa has been successful for many, many years. He wants to maintain this.
- Keeps Santa industry and business aware. How do you think he gets to know everything going on with his target market?
- Identifies new growth opportunities and keeps Santa focused on existing opportunities.
- Helps Santa remain objective, listening to his customers, elves and suppliers.
- Highlights problems for Santa that can be removed/solved. Problems that Santa may not have been aware of.
- Makes Santa aware of potential threats in the market. Could those Elves on the Shelves be plotting a hostile takeover bid?
- Santa likes to plan. He plans all year to ensure a seamless Christmas delivery. A SWOT analysis keeps Santa aware and prepared.
Now you have seen how Santa SWOTs, what would you add? Get creative! Thinking of other SWOT factors for Santa’s business will make it easier when analysing your own business.
Got any questions about a SWOT Analysis? Look Deeper Marketing provide a free 15-minute marketing chat. Book in using our Calendly link here
About Leanne Di Fazio
Leanne has over 25 years marketing experience in large corporates and small business in Australia and the United Kingdom. She is passionate about helping small business grow and thrive. Leanne is the founder of Look Deeper Marketing specialising in marketing, strategy and planning for small business. Look Deeper Marketing bring affordable marketing consultancy to small business. Based in Sydney, Leanne works with local and international clients. Leanne offers a range of packaged options so you know exactly what to expect. Packages are available for Marketing strategy, social media, SWOT and Competitor Analysis and 1-to-1 Marketing. Look Deeper Marketing will help you take a deeper look at your marketing.
