In a previous article, we chatted about how a PESTLE Analysis Report can be used in a marketing environment. In this article, we go through the steps that you have to take in order to put one together.
Put together six sections for the core content
Make use of one section for each category and then include all the important factors within each section. If necessary, divide the sections into subsections that cover bulkier topics. Include an introduction as well as a conclusion.
You’ll find that a quick introduction that explains the goal of your PESTLE analysis report is extremely useful for readers. Likewise, a conclusion section (with plenty of specific analyses, drawing meaningful conclusions from the data presented in the report) is extremely valuable. Keep it simple.
Keep it short and sweet
PESTLE analysis reports are better kept short and sweet. This guarantees that you’ll focus on relevant information and ensures that readers will walk away from the analysis with specific, actionable ideas.
You can perform a PESTLE analysis whenever you like you want. It’s totally up to you. However, sometimes, a proper PESTLE analysis can offer advantages which are triggered by the timing in addition to the situation.
When to use a PESTLE analysis report
These are the ideal moments to conduct and use the analysis:
When launching a new product or service
A business is affected by the seven factors found in PESTLE. It won’t be possible to run a legal business without following the predetermined political laws and regulations. However, some companies have more to consider than others. For example, e-commerce companies need to follow stringent technological laws. If these e-commerce sites do business internationally, they’re impacted by taxation and political stability in these other locations as well.
When you’re facing problems
Say your website was, for example, overwhelmed by an influx of customers – and the site went down – orders couldn’t go out. That’s disastrous, even if the blackout only lasted an hour. Even though servers have stabilised, it doesn’t mean everything is perfect now.
Customers may have gone elsewhere to complain about “poor service “ and they could even be rioting on social media, making up disastrous hashtags which drag the business’ brand image through the mud. If this happens, there is a customer (or social) problem to contend with.
When is the worst time to use a PESTLE analysis report?
The worst times for a PESTLE analysis are:
Right before a product launch
A PESTLE analysis highlights key influences that you should remember while building a company or product. If you’re about to introduce product onto the market but haven’t performed any social/customer research, it’s too late to use PESTLE as you won’t have the time to do a PESTLE analysis as the product is launching. You’ll be pulled into many different situations and researching won’t be one of them (until later). Don’t wait until it’s too late.
To improve communication
A challenge which arises among employees is that the managers and the employees aren’t seeing eye-to-eye. They’re having a tough time communicating. No, now is certainly not the right time for PESTLE analysis.
- For one, this is a problem which is internal to the company and it’s likely the seven PESTLE factors aren’t impacting the ability to communicate within the business.
- And two, this analysis can take a while to complete. By the time that is done the situation could have worsened. Production could have slowed down and perhaps managers are on the verge of walking out. Customer satisfaction is declining, and the complaints are coming in thick and fast. This is the type of situation that necessitates immediate intervention.
PESTLE analysis isn’t an “immediate intervention” solution. You will not be getting quick answers as it can take hours or even weeks to complete. It can take an even longer time period to fortify the information and put it to use. For any problem requiring a quick solution, even if it’s just a temporary band-aid, PESTLE won’t be your go-to response.
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