How to Do a SWOT Analysis for B2B Brands

Let's say you started your business right, but now it's falling. You don't know the reasons, but you just know you're doing your best.

Many businesses fail because they overlook their strengths, ignore their weaknesses, and miss out on opportunities. In fact, many startups fail due to poor planning and premature scaling. 

The result? Costly mistakes and missed chances.

Without a SWOT analysis, you risk falling into the same trap; ignoring threats or failing to spot emerging trends. And let's not forget the internal blind spots that could hold you back.

But don't worry; we've got you covered. This guide will show you how to conduct a SWOT analysis step-by-step for your brand and business, complete with examples and actionable tips.

Ready to take control? Let's dive in!

What Is SWOT Analysis?

SWOT analysis is a framework for evaluating one's Strengths, Weaknesses, Opportunities, and Threats. It helps individuals, organisations, and businesses assess internal and external factors to create effective growth and decision-making strategies. 

The strategy is commonly attributed to Albert Humphrey, an American business and management consultant, in the 1960s.

Humphrey initially introduced the acronym SOFT, satisfactory, opportunities, faults, and threats, which later evolved into SWOT. While Humphrey is often credited with its development, the exact origins of SWOT remain uncertain and are occasionally debated.

Today, it's a go-to tool for businesses of all sizes. Not just for business, but it can also be used for personal or individual assessment.

SWOT fits within the Situation Analysis stage of the SOSTAC® framework — a strategic planning model created by PR Smith. While SOSTAC® provides a broader roadmap, SWOT focuses on identifying specific internal and external factors that influence business strategies.

SWOT analysis remains relevant due to its simplicity and versatility for businesses. It's easy to use, cost-effective, and helps businesses adapt to ever-changing markets by identifying areas of improvement and opportunity.

It highlights businesses' strengths to leverage, weaknesses to address, opportunities to seize, and threats to prepare for. 

The result? Smarter business strategies.

Of course, small businesses benefit from SWOT analysis as well. It's affordable (no fancy tools needed), helps them focus limited resources effectively, and provides clear insights into market opportunities and challenges.

Why Use SWOT Analysis?

SWOT is a practical tool for helping organisations understand their position, what they can achieve, and what challenges they need to prepare for. 

Sounds useful, right?

So, why is it important? Because it provides clarity.

Whether you're running a small business or managing a large corporation, SWOT analysis gives you a clear picture of your strengths, weaknesses, opportunities, and threats. Let's break it down further.

Helps in Strategic Planning

SWOT analysis lays the foundation for strategic planning by identifying internal factors (strengths and weaknesses) alongside external ones (opportunities and threats). With this, businesses can create actionable plans tailored to their unique circumstances.

In simpler terms, SWOT helps businesses focus on what they do best while preparing for challenges ahead.

For example, leveraging strengths like a skilled workforce while addressing weaknesses such as outdated technology ensures strategies are both realistic and effective.

Identifies Key Business Factors

SWOT analysis pinpoints critical factors that impact a business's success or failure. These include internal elements like resources and external influences like market trends or competition.

A clearer understanding of what drives your business forward and what might hold it back. It's all about focusing on the essentials without distractions.

By identifying these key factors, businesses can prioritise what matters most. For instance, knowing your top-performing product (strength) or recognising an emerging competitor (threat) allows you to act quickly and effectively.

Improves Decision-Making

SWOT analysis simplifies complex decisions. It helps businesses make better decisions by providing a clear picture of their current situation. 

With this framework, decision-making becomes less about guesswork and more about informed choices. For example, if a company knows its strength is customer loyalty, it might focus on retaining customers rather than chasing new markets.

Encourages Proactive Problem-Solving

SWOT analysis encourages businesses to tackle problems before they become crises. By identifying potential threats early, companies can prepare solutions in advance and avoid unnecessary surprises. 

Who doesn't want to stay ahead?

And this isn't just about avoiding risks; it's also about turning them into opportunities. For instance, spotting a market shift (threat) could push a business to innovate and stay competitive.

The result? You're not just reacting to problems, but you're also solving them before they even happen. That's smart planning right there.

The SWOT Table

The SWOT Table is a 2x2 grid that categorises these elements into four quadrants. Strengths and weaknesses are on the top row, while opportunities and threats are on the bottom row. 

But it's not just a grid. Their respective positions and alignment also tell you their functions.

It also separates factors into internal (strengths and weaknesses) and external (opportunities and threats). Plus, it highlights positive variables (strengths and opportunities) and inhibiting ones (weaknesses and threats). 

Let's discuss this in a business context.

Internal Factors

Internal factors are your strengths and weaknesses, represented in the first row of the SWOT Table. 

These are elements within your control, such as resources, skills, or processes that can either help or hinder your goals. It's all about what's happening inside.

It's self-explanatory that they are internal factors because they come from within the organisation. They're influenced by what you have (or don't have) internally, such as your team's expertise or outdated technology. 

Knowing your strengths lets you maximise them, while recognising weaknesses helps you address them before they cause problems.

External Factors

External factors are the opportunities and threats that appear in the second row of the SWOT Table. They come from outside your business, such as market trends, competition, or economic shifts.

Knowing what's happening inside your business is not enough. Many factors might affect you even if you know you sustain your strengths and address your weaknesses. That's the purpose of these factors.

And they're literally beyond your control. These are forces happening in the external environment that can influence your success or create challenges for your business plans.

Understanding the external factors that could affect your business makes you stay competitive in your market. Spotting opportunities lets you act quickly while identifying threats helps you prepare for risks.

Positive Variables

Positive variables in the SWOT Table are your strengths and opportunities in the first column. These are the elements that push your business forward and create growth opportunities.

They guide you to focus on what's working. By leveraging strengths and seizing opportunities, you can build momentum and stay ahead of the competition. 

The result? A stronger, more confident strategy.

Inhibiting Variables

I don't want to use the word 'negative', that's why let's call them inhibiting variables instead.

The second column of the SWOT Table contains weaknesses and threats. These are the factors that hold your business back or put it at risk. 

Inhibiting variables is vital for problem-solving. It makes you think about what to do and what to expect from those things that could greatly affect your growth.

By addressing weaknesses and preparing for threats, you can minimise risks and avoid setbacks.

Yep, not fun, but important to know!

Components of SWOT Analysis

You already know the layout of the SWOT Table and have heard about its elements multiple times. But let's dig deeper into each one and see what they really mean for your business.

Strengths

Strengths are the internal factors that give your business an edge. They're what you do well, which are the unique selling points, resources, or skills that set you apart from competitors. 

A strength could also be a loyal customer base, a highly skilled team, or proprietary technology.

Sometimes, you will instinctively know that this or that is your strength, but it is still crucial to know and list it in SWOT. And if you're not sure about your strengths, look at customer feedback, sales data, and even employee performance to identify areas where you shine. 

You can also ask these questions to yourself:

• What do we excel at?
• What unique resources or expertise do we have?
• What do others recognise us for?
• What achievements are we most proud of?
• What advantages do we have over competitors?

Weaknesses

Weaknesses are internal factors that hold your business back. These could be skill gaps, outdated systems, or poor customer service. 

Basically, they're the areas where you struggle and need improvement.

Ignoring weaknesses can lead to bigger problems. While strengths show what's working, weaknesses highlight what's not. Fixing them can make a huge difference in your success.

You can look at negative reviews, missed targets, or inefficiencies in operations to pinpoint areas needing attention. 

And be honest about your weakness. You don't have to tell yourself that your digital assets, for example, can't be your weakness just because no one complains or it's still working. 

If you think it hinders you from improving or getting something done, list it down. 

You can also ask these questions to yourself:

• What areas need improvement?
• Where do we face limitations or deficiencies?
• What do others see as our weak points?
• Which internal factors hold us back?
• What resources or capabilities are we missing?

Opportunities

Opportunities are external factors that can benefit your business. These could be market trends, new customer demands, or gaps your competitors haven't filled yet. 

In short, they're chances to grow or improve your business besides your strength.

Let's say there's a growing demand for eco-friendly products, and your business already has sustainable practices. That's an opportunity to market yourself as an eco-conscious brand and attract a new audience.

Always keep an eye on industry news, customer feedback, and competitor behaviour to spot opportunities early.

You can also ask these questions to yourself:

• What external changes could benefit us?
• What new markets or partnerships could we explore?
• What emerging needs could we fulfill?
• What technological advances could we leverage?
• What industry trends align with our strengths?

Threats

Threats are external factors that could harm your business. These include competition, economic downturns, or changing regulations. 

Anything outside your control that could disrupt your plans can be considered a threat. 

I remember when SEO practices changed due to E-A-T, which eventually became E-E-A-T. It became a threat for SEO specialists and digital marketers like me because it changed the way we approach search engines. 

That said, our strategy for this threat became exhibiting E-E-A-T to every piece of content and avoiding outdated SEO practices such as keyword stuffing and artificial backlinks.

Well, we transform this threat into an opportunity since many agencies rely heavily on keyword stuffing and artificial backlinks.

To know what threats might hinder you, ask these questions to yourself:

• What external obstacles do we face?
• What changes could negatively impact us?
• What are our competitors doing?
• What economic factors could affect us?
• What risks could jeopardise our success?

SWOT Analysis Examples

You now know the elements of SWOT and how they work. But how about some real-world examples? Let's look closer to see how SWOT analysis applies in practice.

We'll explore two examples: our agency (Adonis Media) and Coca-Cola. The SWOT analysis of Coke is from my perspective and based on evidence and facts on the Internet and my knowledge in marketing.

Adonis Media SWOT Analysis

Strengths

With over 21 years of industry experience, Adonis Media has consistently delivered measurable digital growth for SMEs. Our proven track record in integrated, data-driven marketing strategies and digital transformation sets us apart, ensuring clients achieve tangible results. 

We've developed proprietary tools and software solutions that give us a competitive edge. Operating from the UK (Scotland) and Australia (Brisbane), we serve diverse markets while leveraging international best practices. 

Add to that an agile, experienced remote team that adapts quickly to evolving market needs.

Weaknesses

Nobody's perfect. We also have our weaknesses.

Operating across international markets brings challenges, including regulatory compliance, cultural nuances, and operational complexities. 

Additionally, our limited resources compared to larger global agencies could restrict scalability in certain segments. We're working on this.

Opportunities

This year, we're launching our in-house platform to support scalable growth and attract a global customer base. With SMEs increasingly demanding digital transformation and revenue growth solutions, we're well-positioned to meet their needs and grow alongside them. 

Expansion into emerging markets offers significant potential for Adonis Media. We can enhance our service offerings and tap into new opportunities by leveraging our dual-market presence in the UK and Australia. 

The possibilities? Endless!

Threats

The digital marketing space is fiercely competitive, with rapidly changing technologies and consumer behaviours keeping everyone on their toes. 

Economic uncertainties and regulatory changes in the UK and Australia could also impact SME marketing budgets. 

Constant platform evolution means ongoing investment in innovation and talent is a must.

Coca-Cola SWOT Analysis

Strengths

Coca-Cola's biggest strength is its global brand recognition. It is, in my opinion, the most recognisable beverage brand worldwide. Even if you don't drink Coke, I bet you've seen their marketing materials and ads somewhere.

With a 44.9% market share in the U.S. carbonated soft drink market, it's a household name in 200+ countries. Its extensive distribution network ensures its products are available almost everywhere, giving it a competitive edge. 

Additionally, Coca-Cola boasts a diverse portfolio of 21 billion-dollar brands, including Sprite and Fanta, which contribute significantly to its revenue. Its ability to adapt to consumer trends by expanding into non-carbonated beverages also strengthens its foothold.

Weaknesses

Despite its strengths, Coca-Cola heavily relies on carbonated drinks, which face declining demand due to health concerns. 

In fact, sales volume for carbonated drinks dropped by 3.5% in 2023. This dependency makes it vulnerable to shifting consumer preferences towards healthier options.

Additionally, Coca-Cola is exposed to fluctuating commodity prices and currency headwinds, which impact profitability. High production and transportation costs increased by 7.2% in 2023 alone. These factors highlight the need for diversification and cost management strategies to mitigate risks.

Opportunities

Emerging markets present significant growth opportunities for Coca-Cola. Markets like India and Africa are expected to grow at annual rates of 13.5% and 7.8%, respectively. Expanding its presence in these regions could drive substantial revenue growth.

Coca-Cola also has room to grow in the health-conscious beverage segment. By investing further in plant-based and functional beverages, Coca-Cola can align with evolving consumer preferences.

Threats

The beverage industry remains highly competitive, with PepsiCo and other players constantly vying for market share. Additionally, soda taxes imposed in various regions could negatively impact sales of sugary drinks.

Environmental challenges like water scarcity also significantly threaten Coca-Cola's production capabilities. Water is a key ingredient in its products, so any disruption could lead to increased costs or production delays.

How to Do a SWOT Analysis

Since we've shown you examples and you now know the basics of SWOT, it's time to create your own.

Let's walk through the steps to get started.

1. Call Your Team for a Brainstorming Session

If you manage your business alone, you may skip this part since you'll be the only one to consider the possible inputs on your SWOT.

But if you're a team or an organisation, start by gathering your team for a brainstorming session. 

Call everyone involved in your business. It could be the managers, employees, even interns (don't underestimate them). Your team members see things you might miss. Perhaps someone has already noticed a weakness, like delayed customer responses, but hasn't spoken up. 

This is your chance to uncover hidden insights and address them together.

2. Draw the SWOT Table

Next, draw your SWOT table. Very easy.

You can do this on a whiteboard, a piece of paper, or even a digital tool like Google Docs or Excel. Keep it simple. A 2x2 grid is all you need.

Not into drawing? You can easily download free SWOT templates online. Just search for one that suits your needs, download it, and you're ready to start filling it out.

3. List Down Strengths and Weaknesses

Start by assessing your strengths and weaknesses. There is no time limit, and you should not limit what you list. 

Let your mind wander and think of the internal factors. Be honest with yourself. This is no time for sugar-coating.

Use the questions we listed in this article for better assessment not only for internal factors but for external factors as well.

For example, if you're a digital marketing agency, a strength could be having a skilled team that excels in SEO and content creation. Another strength might be access to cutting-edge analytics tools that optimise campaign performance.

On the other hand, weaknesses might include a high dependency on social media platforms or difficulty proving ROI for intangible aspects like brand awareness. Identifying these helps you focus on areas that need improvement.

4. Evaluate Opportunities and Threats

Next, look outward to evaluate opportunities and threats.

Once again, opportunities are external factors you can take advantage of to grow your business, while threats are challenges that could impact your success.

For a digital marketing agency, an opportunity might be the growing demand for sustainable marketing practices or expanding into untapped markets like small local businesses. These trends can open doors for growth and innovation.

Threats, however, could include increasing competition from other agencies or frequent algorithm changes by major platforms like Google or Facebook. These can disrupt campaigns and require constant adaptation.

5. Analyse SWOT and Create an Action Plan

So, you've listed everything down — strengths, weaknesses, opportunities, and threats. Now, it's your time to reflect on your next actions. 

Analyse your SWOT to see if your inputs really reflect your present condition. If yes, then create an action plan for each SWOT component.

Start by planning to sustain your strengths. 

If your strength is having a talented team, make sure they're motivated and well-supported. Offer training or perks to keep them happy and productive. Keep them happy, and they'll keep delivering.

Next, plan to improve your weaknesses. 

If you struggle with client retention, dig deeper into why that's happening. Maybe it's time to improve communication or offer better post-project support. Weaknesses don't have to stay weak forever. Small changes can make a big difference.

Now, seize those opportunities. 

If there's a growing demand for a service you offer, like video marketing, jump on it. Invest in resources or training to position yourself as the go-to expert in that area. Start creating engaging video content to attract new clients. But remember, timing is everything here.

Finally, mitigate threats. 

If competitors are undercutting your prices, focus on what makes you unique, either your quality or expertise. Or, if algorithm changes are a constant headache, create a flexible strategy that adapts quickly. Always stay ahead of the game.

Further Learning

Looking to learn more? I've collected some fantastic resources that go hand-in-hand with this topic if you want to dive deeper.

• youtube.com — Dr. Liane Davey Channel Video: "The Right Way to Perform a SWOT Analysis"
• nmblstrategies.com — Four Alternatives to a SWOT Analysis
• simplilearn.com — Top Effective Business Analysis Techniques
• forum.skill.jobs — 22 Most Useful Creativity and Problem Solving Acronyms
• investors.coca-colacompany.com — The Coca-Cola Company Announces New Global Vision to Help Create a World Without Waste
• reportlinker.com — Coca-Cola's 2025 Forecast: A Fizzy Future or Flat Outlook?
• marketing91.com — SWOT Analysis of Hewlett Packard – HP SWOT analysis (Updated 2025)
• forbes.com — Using A Personal SWOT Analysis To Future-Proof Your Career
• reddit.com — Reddit r/strategy Thread: "What's your take on SWOT analysis?"
• researchgate.net — ResearchGate Question/Thread: "Do you think that SWOT analysis is the best marketing assessment method for a corporation?"

Crafting Smarter Strategies with SWOT

Now that you know the fundamentals of SWOT analysis and know how to use it in practical situations, you can strategically guide your company to success. 

You can make sure your business remains resilient and competitive by regularly sustaining your strengths, improving your weaknesses, taking advantage of opportunities, and getting ready for threats. Whether you are a big organisation or a startup, including SWOT into your strategic planning can provide you a competitive edge, clarity, and direction.

Ready to put your SWOT analysis into action? Contact us today for a free consultation and let our expert team at Adonis Media help you transform your insights into a winning strategy and unlock your business's full potential.

Got a question in mind? Check out the FAQs below for quick answers!

Chloe Buntin

Chloe, Director at Adonis Media, isn't your average consultant. She guides businesses through exponential growth, crafting bespoke strategies and leveraging innovative tactics to unlock hidden potential. Whether you're facing growing pains or aiming to break new ground, Chloe equips you with the expertise to conquer your next growth stage. Connect and transform your business into a powerhouse!