Marketing Audits are all too often something that is popped on the back burner and put off for later…sometimes years. But being able to analyse and evaluate your marketing strategies, activities, goals and results can yield amazing outcomes for your brand:
- it can focus your communication to the right customers
- reveal new or neglected markets
- hone your current strategies
A good marketing audit does take a little preparation, it’s not something that can be done in an afternoon but if planned properly, can set you up for the year ahead. We like to run ours at the beginning of each quarter (yep, you read that right, we conduct ours quarterly) especially when we have that energised feeling after a holiday period.
Here’s our checklist of what you need to do:
take a good hard look at yourself
- read the overview of your company, what is it you were trying to achieve? What’s your purpose? This will drive your messaging, tone and set your markets.
set clear marketing goals and objectives
- make them specific with real numbers, look at your ROI for all activity, match the goals to your sales figures.
conduct a current customer analysis
- who actually shops with you? You may be surprised, they may not actually be who you think. Dig deep and decide if they are who you want.
articulate your dream customer
- of all the people and companies in the world, who’s on your customer bucket list? Add some shape to them, get to know what media they respond to, who are their influencers, who do they shop?
ensure you have a clear description of your product or service
- if you aren’t clear on what you do, your customer sure won’t be.
have a reality check - what’s worked before, and what hasn’t?
- it’s honesty time now, just because it looked pretty in the market, or got great reach on social media, it doesn’t mean it helped your bottom line.
conduct a competitive analysis
- you need to know who you are up against, sometimes it’s no one because you’re a game changer or a disruptor! Regardless you need to be aware of who is coming up behind you.
shape your communications plan
- look log and hard at all of your media outlets, are you using them effectively, are you using them well? It may be time to cut back on a few, or add another - regardless, you also need to ensure your message is consistent and loyal to your brand.