A brand audit is effectively a health check of your brand; to be able to identify and address problem areas with a net result of helping turn things around and grow the bottom line.
A brand audit will help determine:
This helps you understand the unique aspects of your brand to capitalize on. Your brand strengths could stem from your edge that sets you apart from your competitors.
Your employees are part of your brands strengths. Do you empower your employees? Do you have the right employees working for your brand?
Is your brand adaptive? Is your brand able to adjust according to its environmental conditions? As technology advances; is your brand up to par or is it stuck? Your brand needs to be able to adapt first in its particular industry and to set the pace.
How is your brand interaction with your clients and customers? Satisfied customers and clients are potential marketers.
You will be able to identify what your customers or clients are saying about your brand; this can be done through surveys, questionnaires or even having a suggestion box. This will enable you to receive immediate feedback.
This will enable you to strategize. You will understand what you competitors are doing that your brand is not doing. Also understanding your competitors will enable you to know which niche is neglected then target it.
Knowing and understanding your brand will enable you to cover areas that your competition is beating you to.
General overview of your current position
Understanding your brands position in the market enables you to know, understand and accept your strengths and weakness; whether it’s avoiding litigations or boycotts from your employees or customers or clients.
This also helps you to get a glimpse of insights to current demographics and their needs; enabling you to adjust your products and services to fit your customers and client’s needs.
Brand product developments /future channels of profitability
With audit it’s easy to identify technological advancement and changes that are happening in your industry and adjust your services or products.
This also enables the organization or individual to identify customer needs and areas that are addressed by the brand or even by the other competitors.
Therefore it’s important to determine how accurate and effective your brands interactive components (name, color, tagline, logo, sounds, styles, voice and tone of messaging) are and where you can improve without alienating your current audience.
A routine brand audit will help monitor the cycle that way the brand remains fresh and relevant and it’s possible to keep track on when to reinvigorate or revitalize before sales start to slip.
Remember it’s about establishing your overall position in the marketplace and creating greater consumer awareness.
These components can be determined through a number of ways; interviews, reviews, research, observations or surveys.
Communication Consultant with special interest in branding and communication strategies.