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What is a SWOT Analysis?

A SWOT analysis helps you evaluate your company’s Strengths, Weaknesses, Opportunities, and Threats. It’s a simple framework to identify what you’re doing well, where you can improve, and how external factors might impact your growth.

For SaaS teams, a SWOT analysis is key for spotting competitive gaps, refining your product strategy, and improving your positioning.

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How to Use This Template

1. Set your objective. Are you analyzing your overall business, a new product launch, or benchmarking against a specific competitor?
2. Collaborate with your team. Gather insights from Product, Marketing, Sales, and Support. Each team has a different lens—and you want all of them.
3. Be specific. Vague statements like “strong brand” won’t help. Focus on why something is a strength or threat.
4. Keep it actionable. The goal isn’t to fill boxes. It’s to spot patterns that guide your next steps. </aside>

(S)TRENGTHS

What are you doing well that gives you a competitive edge?

Add internal advantages that set you apart from competitors. Consider product strengths, company resources, and customer perception.

Prompt questions:

• What features are most loved by your users?
• What do customer reviews highlight as your top benefits?
• Do you have a unique go-to-market motion or pricing model?
• Are there integrations, partnerships, or experiences competitors lack?

Example:

“Intuitive no-code flow builder speeds up time-to-value for non-technical teams.”

(W)EAKNESSES

Where are your internal limitations or areas needing improvement?

List challenges or gaps that could put you at a disadvantage. Be honest—acknowledging weaknesses helps prioritize improvements.

Prompt questions:

• Which features are consistently requested but missing?
• Are there support or performance issues slowing down adoption?
• Are you losing deals for reasons you can control (like pricing flexibility)?
• Do competitors outperform you in certain verticals?

Example:

“Limited analytics granularity compared to product analytics-first competitors.”

(O)PPORTUNITIES

What external trends, gaps, or shifts can you leverage for growth?

Identify market trends, unmet needs, or changes in customer behavior that your company can capitalize on.

Prompt questions:

• Are there underserved customer segments you can target?
• Are competitors neglecting certain use cases or features?
• Are there emerging channels you can own?
• Can you meet changing customer needs before competitors do?

Example:

“Competitors offer generic onboarding flows—opportunity to differentiate with role-based personalization.”

(T)HREATS

What external risks or challenges could impact your growth?

Call out market dynamics, competitive moves, or macro trends that could threaten your position.

Prompt questions:

• Are new competitors entering your space with aggressive pricing?
• Are larger players bundling similar features into all-in-one platforms?
• Are there changing regulations or industry shifts affecting your business?
• Could customer expectations outpace your current product roadmap?

Example:

“Competitor expanding into multi-channel messaging with stronger mobile support.”