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Audit & Assurance

Whether you are in B2B or B2C, the thought of a no-holds-barred look at your brand’s marketing efforts is scary. Coming face to face with your company’s warts isn’t nice. So you’re tempted to move full steam ahead without pausing to take stock of how things stand. But doing so will doom your company. You will lose forever all the priceless resources you’ve invested in your company and spark the ire of investors and stakeholders alike. Scary thought, huh? That’s why you should do a digital marketing audit sooner rather than later. It allows you to stop for a moment, test your progress or lack thereof. You identify your brand’s strengths, weaknesses, challenges, and growth opportunities. You then course-correct and keep your business on track. You reduce the chances of failure and increase the odds of success.

What is a marketing audit, and when might you want to run one?

A marketing audit is a systematic, in-depth assessment of your company’s marketing strategies, systems, goals, and performance that considers both internal and external factors. A sound audit recommends a plan of action to uplift the company’s performance. Here are four scenarios in which you should run a marketing audit:
  1. You want to launch a new business
When you launch a new business venture, a marketing audit is invaluable. It helps you evaluate what you have going for and against you. You get intel on how to position your business to exploit existing opportunities. You deploy resources wisely and reduce the risk of losing your investment.
  1. You want to introduce a new product
To increase your chances of success when launching a new product, it’s best to test your marketing efforts and landscape first. You will pick the right channels and messaging for the new product.
  1. You’ve bought an existing business
Whenever a company changes hands, it’s a perfect moment to critique marketing activities. As the new owner, use the results of the audit to build on the brand’s past successes and plug the gaps for better performance. Or, you may see a total rebrand as the only way to move forward.
  1. You’re stuck, or things aren’t working
It’s okay to admit it. Your business can get stuck. Things don’t work out as expected. When your marketing wheels are spinning, it’s time to examine your strategies. You’ll uncover ways to untie the knots and free your enterprise to prosper. Whatever the situation, one thing is clear: a marketing audit should be part of your strategic marketing workflow.