Awareness of the brand in the market
You need to know if there is an alignment within your company about what your brand delivers, and what it should be delivering for your audience; do they know what your brand stands for and what it has to offer.
What is it that you are communicating to your audience and what do they actually think of your brand (How do you want people to think of your brand as compared to what types of leads you are aiming to get?).
You also need to know if you are targeting the right audience; is your brand tailored right for that particular audience (your brand cannot appeal to everyone; it has to be designed to target a certain group of people in order to solve a particular problem).
Value of the Brand
You get to understand your brands perception, image, reputation and attitude in the market. What are the strengths of your brand? What is your brand offering that your competition is not offering?
Competition in the Market
You get to understand what deficiencies/limitations your brand has and be able to strategize a way to tackle them.
To find out what your competitors are doing, who they're talking to, why they're talking to them, and how effective they are at it and also get to know if your audience has a better alternative.
New trends and market opportunities
Know and understand your market: understand what your competition is doing and what new trends are in the market and also understand the future channels suitable for your brand.
A successful brand audit is built from the inside out; this includes both the internal and external stakeholders.