Topic: SWOT Analysis

If you think back 5 years ago to when Facebook was just another MySpace, no one knew what Twitter was and Instagram wasn't even a topic of discussion, then Im sure that you never thought of implementing social media into your business strategic plan.

A common plan that is used is a SWOT (Strengths, Weaknesses, Opportunities, Threats) Analysis which is a useful tool for decision making and providing good framework for any corporation or organization. With the major increase in social media within the last few years, you can expect to see Facebook, Twitter, Blogs and maybe even Instagram appearing in a company's SWOT Analysis. Some companies plan to create a SWOT Analysis specific to only marketing or social media.

According to Social Media Ledger's article "How to Write a Social Media Strategy," there are many tactics that can be used to create a beneficial social media strategy. Some of the their examples include:
Strengths 
- what kind of social media programs do you have in place that are better than your competitors.
- stronger brand awareness in the market place
Weaknesses
- what areas of social media are your competitors doing better then you? (Blogging, Twitter, Facebook, etc)
- have you lost sales due to any interactions within social media channels?
- not building your Social Media strategy into your existing company process.
- Utilizing the wrong Social Media tools for your company requirements.
Opportunities
- Are there any new or emerging channels where you can gain an engaged audience? (Pinterest, Google+, etc) 
- Have you effectively positioned your brand as an expert in your field?
- Social Recruitment
- Reputation Management
Threats
- Do any of your weaknesses pose a legitimate threat to your business?
- Your competitors getting ahead using Social Media

When it comes to creating your own SWOT Analysis for a company or organization, it will be more beneficial if you keep it detailed and be sure to compare your internal and external strategies too. Social Media allows you to do just that.

LinkedIn is another social networking site that can help building your companies framework and strategy created in a SWOT. A main goal that is typically always placed on SWOT charts is customer service, whether that is your strength or weakness, it is the main thing that drives companies. On a LinkedIn page, when asked to discuss the topic of "SWOT Analysis for Social Media" it mentioned that some of your customers, especially ones you spend alot of time working with, will most likely look you up on a social media site. It is important that you keep your company and personal profiles appropriate and that you are building good relations with each customer.

In conclusion, I think that including social media in your company's plan is a necessity in our world today. It is important to make sure that you are up to date on what is happening and continuously update it if you want to maintain your customer base. Especially if your main consumers are those who keep up with social media trends.