The goal is clear: take your eCommerce to the success it deserves. Hence, do not skimp when it comes to soaking up all the interesting information that we are revealing to you to get the most out of it.
On this occasion, we go one step further and focus on that great ally that will help you design the right strategies for your eCommerce to succeed in style: your SWOT for eCommerce and its great battle partner, the CAME analysis. don’t you know yet what is a SWOT for eCommerce? Keep reading: Rubén Bastón gives us the keys to understand what it is and how to create a SWOT for eCommerce and a CAME analysis, with an example included.
What is a SWOT for eCommerce
Before launching to unleash your troops in the battle to achieve the highest number of conversions possible in your eCommerce and increase the sales of your business, you must design the appropriate strategies that allow you to achieve the success you want and achieve your goal. This is where it comes into play the SWOT, the analysis of Weaknesses, Threats, Strengths and Opportunities. This will allow you to develop the strategies that will lead you to victory, revealing two parts:
- Internal analisis: the analysis of your own company, through which you designate your Strengths and Weaknesses;
- External analysis: what the world has in store for you out there, seeing what Threats and Opportunities you have.
What can be the weaknesses of an eCommerce?
In online businesses there are multiple factors that can be an impediment to optimal business development: the perishable nature of some products, delivery times, fraud, problems with credit cards or geographical locations.
Customer perceptions of reliability, purchase guarantees, or inability to see or touch the product, can also represent difficulties for the establishment of an eCommerce. Not all businesses have the same weaknesses, nor are they present to the same degree in all, but a SWOT analysis can discover factors that must be worked on so that an online store can achieve success.
Strengths analysis
Whether it is already created or if you intend to set up a new online business, you must identify a business idea. It never hurts to put on white what you know how to do better than others and determine your competitive advantages. In short, we must analyze the factors that make us unique and that customers will appreciate.
Opportunities in a SWOT for eCommerce
There are two basic points. One refers to the environment, and leads us to evaluate the features and technologies that can help us develop our business and achieve competitive advantage. The second aspect refers to the analysis of the vulnerabilities of our direct competitorswhich will serve to discover the niches where we can erode its dominant position.
This opportunity analysis should be done Continuously, since markets and online technologies evolve almost every day and new opportunities for eCommerce can always arise. The information that we can extract from Big Data, or from which it can provide us with data on consumer preferences or offer us new promotional opportunities.
Watch out for threats
Is there any change in the environment that could jeopardize the business model? Is it possible that there will be legislative changes that will reduce the competitive advantage? Could one of the big companies in the sector, such as Amazon, make the leap to our specialized sector? Although the business idea is currently exclusive and underutilized, it is quite possible that there are already other companies interested in jumping into that untapped niche.
Any entrepreneur must be aware that what is today an inexhaustible source of opportunities, in a few months it can become a real business battlefield. Especially in sectors related to new technologies or with high added value.
When to use the SWOT
Of course, as Rubén explains, you should not keep this analysis as a tool to use only when you are just starting out. You will see that It is very useful when approaching any project, even if it is already running. To understand how important it is, you can imagine the SWOT as a photograph that allows you to see where the business is at. But remember! Doing your SWOT for eCommerce and leaving the issue there should not be an option. This will be your initial guideline to start the great battle towards success, but not the only one.
Do you want to see a practical example of SWOT for eCommerce? In , Rubén Bastón presents us with a very interesting SWOT for eCommerce that can serve as an example for your own.
I already have my SWOT and now what? The CMEA analysis
Now that you know the battlefield thanks to the SWOT you have prepared, it is time to continue moving forward on the path to success. How design strategies to succeed with the information extracted from the SWOT? This is where CAME analysis comes into play, which refers to Correct, Coping, Maintaining and Exploiting. How? Stick with the schematic:
- Fixed Weaknesses;
- We face the Threats;
- We maintain the Strengths;
- We exploit the Opportunities.
The CMEA analysis allows you to cross-task and create your strategies according to the scenario that arises, separating the external ones from the internal ones. Thus, with the CAME analysis you get:
- Contrast your Opportunities and Strengths: which allows you to develop offensive strategies. You are strong and there is opportunity, attack!
- See and correct your Weaknesses when there are Opportunities: there is opportunity, but you are weak in that field, you need reorientation strategies.
- Defend yourself against threats using your strengths: here the defensive strategies will be your best allies.
- Perceive Threats in relation to your Weaknesses: Avoid the catastrophe with survival strategies.
How apply your CAME analysis to your SWOT for eCommerce? The example that Rubén Bastón gives us in the video about a technology eCommerce will help you understand very well how to put it into practice. Keep in mind that, although he talks about a type of eCommerce that is very common today, such as technology, what he tells us is applicable to other sectors in which you can move, such as a rural house, a…
Have you already made the most of your SWOT and CAME analysis? Tell us your experience!
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