SWOT Analysis of Safe and Sound Security

Introduction

The paper presents a SWOT analysis of Safe and Sound Security, an alarm purchase and installation company.

Strengths

1. Has successfully expanded beyond its region;
2. Have lower prices for services than their main competitors;
3. High-quality equipment, goes through several stages of licensing, so it breaks down less often than competitors (About us, 2022);
4. Established work with clients through all popular social networks.

Weaknesses

1. The number of claims is increasing, and the growth of negative feedback on the site.
2. The staff grows rapidly, and they don’t have enough time to train the personnel.
3. High percentage of employees leaving the site;
4. No large budget for advertising.

Opportunities

1. More outlets are opening in 2 more cities;
2. There is an active response to open vacancies;
3. Social networks can be used for marketing activities.
4. A trainer for training can be found in any region.

Threats

1. Difficulties with entering the regional market because of local companies – competitors;
2. No alternative suppliers of goods, in case of force majeure, can be deprived of a set (Brands we install, 2022);
3. Implementation of new innovative technologies can jeopardize the niche itself.

Among the key components is an attractive pricing policy for customers, which allows the company to compete successfully with competitors. Among the most important aspect is the lack of funds for advertising campaigns. This problem slows down the process of promoting the company in other states and countries. The main one is the possibility of promoting the business through social networks, which will reduce advertising costs. An important problem is the lack of alternative suppliers, which can lead to an inability to serve customers in critical situations.

The following objectives can be identified: to begin cooperation with the content manager and make a plan for the promotion of the company on various social networks. The optimal timeframe for this task is three months, during which a content manager will be hired. Employees of the public relations department in collaboration with him for one week will make a content plan for Instagram and Facebook. In 60 days, there will be a bulk of content and signed contracts with Influencers, which in turn, within 1-2 weeks, will create advertising posts. The remaining time will be necessary to track progress; the main indicator is the increase in the number of customers who came through the links of their social networks.

To work with the key threat, the following goal can be suggested: start working with an alternative supplier with a similar quality product. For this purpose, it is also necessary to use social networks, as well as to make a study of the suppliers of competitors. As part of this threat, it is necessary to hire personnel who will organize the monitoring of offers on the Internet, compiling summary tables with basic information about suppliers.

Conclusion

When working with competitors, it is necessary to analyze the main suppliers who provide goods at a similar cost. If the price is higher than that offered by the company, it is necessary to organize a joint campaign, to agree on discounts and mutually beneficial terms of cooperation. It will take 30 days to complete these tasks. Progress will be judged by the number and quality of suppliers willing to sign a contract with the company.

References

About us. (n.d.).

Brands we install. (n.d.).