Pay Per Click marketing is a revolutionary way to grab more customers through the internet.
However, many PPC campaigns do not produce the desired outcomes and lead to failure.
This gives rise to a demand for intellectual ways to generate effective PPC campaigns.
One such strategy that aids you to review your PPC campaigns and direct it towards betterment is the SWOT analysis.
Have you heard about SWOT analysis?
Don’t worry if you have not. This blog will introduce you to the finer details of SWOT analysis along with the advantages of using it in your PPC campaigns.
Hold on! Do let us know if you are seeking a skilled team of PPC marketers to take your business to the next level. We can help you the best.
Now, let’s understand what is SWOT analysis and how it is performed
What is SWOT Analysis
SWOT analysis is a planning and evaluation technique that helps a business to have a clear understanding of its strengths, weaknesses, opportunities, and threats about any discipline.
SWOT analysis aid stakeholders to understand the state of their business in the market and discover the areas of improvement.
SWOT, the acronym for Strengths, Weaknesses, Opportunities, Threats, is commonly associated with PPC marketing these days.
It is a powerful strategy to analyze your PPC campaigns and enhance outcomes.
It helps marketers to better understand the performance of their PPC campaigns and uncover the lacking areas.
SWOT analysis mainly constitutes two types of factors namely
- Internal factors
- External factors
SWOT Analysis – Internal Factors
The internal factors are those factors over which you can have complete control. These include
SWOT Analysis – External Factors
The external factors are those factors over which you cannot have complete control. These comprise
Importance of Performing SWOT Analysis to Your PPC Campaigns
Whenever a marketer plans a PPC campaign, he generally analyses the PPC campaign in isolation without thinking much about the other relevant factors.
They analyze the bids, key phrases, etc., and assume that the job is done. This is not an accurate way to analyze a PPC campaign though.
To convert a PPC campaign into a success, it is mandatory to consider other exterior factors. These factors include understanding the reputation of your business in the market, understanding the economic system, understanding your opponents, and so on.
This is where SWOT analysis comes into place.
How to Perform SWOT Analysis to Your PPC Campaign
A SWOT analysis is generally performed by making use of a 2*2 grid comprising 4 sections i.e. strengths, weaknesses, opportunities, and threats as shown in the below image
SWOT Analysis : Strengths
The strengths are nothing but the constructive elements capable of amplifying the performance of your PPC campaigns. These may include
- High ROI.
- Flawless landing pages.
- Diminished bounce rates.
- Your extensive knowledge about the industry.
Your proficiency in managing your PPC campaigns.
- Employment of mobile strategy.
- The resources you possess and so on…
Commence the analysis by making a list of all the strengths your PPC campaign is possessing.
Ask yourself the questions like – what is your Click-Through-Rate, What is the quality score of your top keywords, what is the quality of your landing pages, etc. to come up with the list.
SWOT Analysis : Weaknesses
The weaknesses are the obstacles that hinder your way of generating additional profits. They may include
- Your poor knowledge about the target audience.
- Your bad quality content.
- The Loopholes in your landing pages.
- Lack of A/B testing.
- Unavailability of PPC experts.
- The bad quality score of a few keywords.
- Lack of negative keywords.
- Absence of mobile strategy.
- Limited budgets and so on…
SWOT Analysis : Opportunities
Opportunities are the factors that are not under your control yet they can give you the chance to generate better results from your PPC campaign sooner or afterward.
These may include
- A rise in your product demand after running a marketing campaign.
- The rise in mobile usage.
- Enhancement in the search volume.
- Growth in the eCommerce business and so on…
SWOT Analysis : Threats
Threats are the factors over which you cannot have complete control, however, they can diminish your profits more or less.
They may involve
- A list of strong competitors.
- The dominance of a particular brand.
- Lowered search volume.
- Change in the policies of SERPs.
- The entry of new customers.
- Low budgets and so on…
Below are given a few examples of SWOT analysis performed by well-known brands
Examples of SWOT Analysis
Outstanding Benefits of SWOT Analysis for a Business
The employment of SWOT analysis can contribute towards the growth of a business in many ways.
The list includes but not limited to the following
- SWOT analysis helps you to understand your business in a better way.
- It aids you to develop your business goals and also, in planning better strategies to reach them.
- It helps you to understand the present state of your business and ensure a better future.
So friends, above are the most common benefits offered by SWOT analysis, however, as we all know you need to pay something to get something.
Here also, you are required to pay something in terms of your precious time, money, and efforts to ensure the desired outcomes.
SWOT analysis is a beneficial strategy to take your PPC campaigns towards the path of success.
It is serving as a great way to understand the ins and outs of your marketing campaigns.
So, guys, don’t take any chance with your marketing goals and start employing SWOT analysis today itself.
Contact us to get the best help!