Insight 1
Company Analysis
Swot Analysis!
STRENGTHS
Well Founded, Relevant & Unbiased Content
Credible & have a good reputation since they are in collaboration with SP and MoneySense
Myriad of financial tools
Financial spreadsheets help users to better manage their finances and aid their financial planning
Provision of free financial education programmes
Caters to a wide range of audience focusing on various topics and anyone can join!
WEAKNESSES
Issues with engaging their follower base
IFL Facebook has 4,157 followers but their post gathers less than 20 likes
Lack of follow-up plans
After conducting their workshops, they are unable to continue reaching out
Low social media presence
2.12k Subsribers
145 Followers
38 Subsribers
Complex & Dull Excel Tools
Deters youths from wanting to use them since it requires some time to do and understanding
OPPORTUNITY
Leverage on MoneySense resources
IFL can take further advantage of the outreach from other MAS financial literacy programs to spread awareness
Awareness of the importance on managing their finance
Structuring content and workshop to be in line with the financial trend followed by youths.
Bite Sized Videos
To engage youth and provide information that is easily comprehended by youth with little to no prior knowledge
THREATS
Many platforms with similar services
Lack of marketing & awareness of IFL can lead to them being overshadowed by others
Rapid Advances in Technology
Many competitors are making use of technology to enhance financial education education while IFL is still using traditional means
Constant changes in financial trends
May face difficulty forecasting financial trends and what youths are interested in, may make their courses irrelevant at times
Social Media Distractions
Youth may be distracted by online gossips which they find more interesting