How do you stay efficient in an ever-changing world? You simply perform a marketing audit. It sounds a bit scary or even boring but it is necessary. It’s so important to understand where your marketing is performing well and where it’s falling short. Otherwise, you’re just wasting resources.
What is a marketing audit?
Essentially, it studies the marketing environment and provides a comprehensive review of your marketing department.
When reviewing the internal environment, every aspect of your marketing department needs inspection. Look at their organisation, functionality, current systems, and processes. This provides a broad view of whether the department is efficient or not.
An external environment review examines the external factors that affect all businesses. It is a crucial step that aids in evaluating your company’s approach to the market.
Why do you need to do them?
They help to achieve your business goals effectively.
If you’re not conducting regular audits, you’re throwing away your budget. It is easy to get into a routine with your marketing procedures. The reality is, what worked last year might not work this year. A successful audit requires regularity.
How to complete a marketing audit?
As mentioned before, a good marketing audit requires expertise. Therefore, it would be best to outsource audits to get the most objective review possible. However, your staff can perform audits too, just consider biases.
Here’s a quick step by step map on how to complete one:
- Outline your marketing goals. All goals need a suitable timeframe (SMART goals.)
- Build customer personas. Do you know who your customers are? How does your product or service aid them?
- List rival companies. Research competitors to analyse their methods.
- Describe, in detail, what you offer to your customers. You need to understand the product/service you are
- List your assets. An inventory will help you utilise every marketing tool.
- Analyse results. Feedback makes a business survive! Look at your strengths and weaknesses.
- Generate an action plan. Be specific!
Schedule your first audit now!
While you’re here, why not take your marketing health check right now to see where your strengths are and discover new room for growth and opportunities.
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