Mindmaps have demonstrated themselves as an excellent tool for strategic planning: SWOT analysis, market share analysis and 4P (product, price, promotion, place). They sensibly assess the product, the market and the company itself:
- SWOT analysis map will identify strengths, weaknesses, opportunities and threats
- growth-share map will demonstrate the life cycle of goods
- 4P map will assess the adequacy of the market offer
The use of mindmaps for strategic planning will allow to:
- involve all team members in the process who will continue to work simultaneously
- identify the links and correlations between disparate elements and look at the situation with a bird’s eye view
- adapt in the process: due to their flexibility, maps can be supplemented and updated during subsequent meetings
In this article we will conduct a detailed SWOT analysis and introduce several other popular templates. All of them are available in the MindMeister library. The maps embedded in the text can be enlarged, and then added to the MindMeister account.
If you do not have an account, you can create it for free.
Strategic planning by using SWOT analysis
- to determine whether the goals are achievable
- find a competitive advantage
- decide on a business strategy
How to conduct a SWOT analysis by using mindmaps?:
Step 1. Beginning of work
Add SWOT map template in the account or quickly create your own by analogy with the sample below.
Step 2. Share mindmap with team members
You can invite people by email or send them a link to the map. Once everyone has access, you can start working.
Step 3: Enter meaningful information for each category
We recommend to start with strong aspects – characteristics of business or project, which give an advantage over competitors. For example, exclusive access to certain resources, insider information, patents or press.
- Write all the conclusions in the offshoot of “strengths”
- Give preference to keywords, not sentences, otherwise the card will look messy
- To add information, use the sidebar on the right. You can insert notes, links, comments and attachments.
After strengths decide on weak points – all that puts company at a disadvantage compared to others. Examples may be poor reputation, high cost structure or lack of patent protection.
Opportunities are used by business in advantage (changes in legislation, the emergence of new technology or unsatisfied customer needs).
Threats are factors of the external environment that can have a negative impact: new instructions, the appearance of a substitute product or a change in consumer taste.
Step 4: Map Analysis
Now that the map is full, it’s time to analyze it and build / configure the appropriate strategy. You can use icons or colors to highlight important factors, arrows, to show the connections between internal and external factors, and write down ideas that arise during the discussion.
So it looks like a simple SWOT analysis with the help of mindmaps. But it is not the limit of mindmaps functionality. We offer to look at the templates below, which can be added to the MindMeister account.
First proposed in 1960, the 4P method is a marketing tool for deciding how to bring a new offer to market or improve it. The letters “p” are responsible for Product, Price, Promotion, Place.
AEIOU means Activities, Environments, Interactions, Objects and Users. This scheme is often used by researchers and designers to manage and structure observations.
More known as BANT, that is Budget, Authority, Need and Timing. Used by sellers to determine the value of an opportunity or lead. As the fifth category in the template, relations are added (Relationship).