This is a continuation of the post regarding the use of the SWOT analysis for the evaluation of the event and the development of performance standards ensuring high quality for subsequent events. In part 1, we took a look at examples of Strengths and Weaknesses. In this part, we will look at the examples of Opportunities and Threats which each event organizer faces.
Time for Opportunities and Threats. In a nutshell, these are external factors during your event that could be either helpful (Opportunities) or harmful (Threats) to this or following events.
Take a look at your event and analyze it. Consider possible opportunities. Think about how you can use them to strengthen your potential.
Examples of opportunities:
- conference / training course / workshop filled the educational gap in the market;
- after the summary, the costs of the event turned out to be lower than the assumed budget.
Opportunities – what’s next?
If you have identified your opportunities, don’t stop, follow the blow! Let’s work on the examples from above:
- an educational gap in the market – if you have successfully filled a niche in the market – congratulations! You have a serious chance to consolidate your position and prepare for times when the competition will be greater – don’t hesitate, take action;
- costs were lower than the budget – a situation that competitors may envy you, use it to prepare for potential “bad times” or spend money on promotion of the next event.
Analyze the threats that caused or could have caused your event not to go as planned. Take into consideration that those threats may affect the success of the next event.
Examples of threats:
- negative opinions about the event appeared;
- attendees rate the event quite well but indicate that the competitors offer is pretty much like yours.
Threats – what’s next?
If during your event there were threats that could have seriously harmed (or harmed) the success of the event, don’t give up, treat them as information about “areas for improvement”. And let’s consider examples mentioned above:
- negative opinions about the event – once in a while, such opinions will appear. It is simply inevitable. Take action that will make criticism constructive. Read more about what you can do about it;
- strong competition – this isn’t a reason to resign from organizing events in a given industry, but a “reminder” of the necessity of creating a more compelling offer. If this isn’t possible in the given field (e.g. due to the specificity of the industry), make your offer compelling in the details (e.g. an attractive course of the event, enthusiastic trainer, beautiful venue etc.).
The SWOT analysis carried out after the event will allow you to identify the strengths and weaknesses of the event and the opportunities that you can use in the future, as well as threats that may stand in the way of the success of your next event. It’s worth gathering information in the table (you can find free templates on the internet, you can also use your own template created in Word, Excel or PowerPoint). Analyzing it, you will be able to see regularities showing certain processes related to the organization of events. By strengthening already existing beneficial processes and improving those that need correction, you’ll be on the right track to standardize good practices, which will, in turn, facilitate your success in future projects.