There is a need to constantly keep your brand in check and brand auditing will effectively keep a healthy check of your brand. Auditing enables you to identify and address problem areas with a net result of helping turn things around and grow the bottom line. When you conduct a brand audit it enables you to determine:
When conducting an audit 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 therefore 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.
Knowing your brand strengths enables you to get to understand the unique aspects of your brand and what you need to capitalize on.
Your strengths could stem from:
What is your edge? What is it that sets you apart from your competitors?
Employees; 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 the environment and conditions that surrounds it? Is your brand keeping up with the technological advances? In your industry is your brand adapting to the various changes? Your brand needs to set pace in your industry.
How is your brand interaction with your clients and customers? Satisfied customers and clients are potential marketers and free advertisement.
This will enable you to identify what your customers or clients are saying about your brand; this can be done through surveys, questionnaires or even as simple as having a suggestion box. With the feedback you can be able to work on your brands shortcomings.
Competition is always healthy for a brand. It ensures you are always on your toes. This will in turn get you strategizing. You will understand what you competitors are doing and also enable you to do an analysis of your audience. A profiling of your audience enables you to tailor make your products and services.
Knowing and understanding your brand will enable you to cover areas that your competition might take advantage of.
General overview of your current position.
Understanding your brands position enables you to understand and accept your strengths and weakness. Whether it’s avoiding litigation or boycotts from your employees or from your customers or clients.
This also helps you to get a glimpse of insights to current demographics and their needs; enabling one to adjust their products and services to fit customers and client’s needs.
Brand product developments /future channels of profitability.
With brand audit it’s easy to identify technological advancement and changes that are happening in the industry and adjust your services or products.
This also enables identification of customer needs and areas that are addressed by the brand or even by the competitors and focus on them.
When the brand audit is concluded and all these aspects worked on then your product and service is on its way to increasing the overall purpose of bringing in the profits.