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Brand audit
Companies with strong brands produce more profit, have a higher company value, command a premium, and achieve preference and salience which reduces the cost to sell to a customer and helps the brand to defeat the competition.
That means that your brand needs to be carefully managed. A brand strategy helps to define the direction for your company, while a brand audit checks that it is moving in the right direction.
Why should you conduct a brand audit?
Think of the brand audit as an annual health check for your brand designed to help you to see what has gone well and can be built on, what needs to change and what new opportunities may have arisen. The brand audit allows you to identify where you need to take action to keep your business on track and to revitalise the brand before things start to slip.
With a brand audit that has thoroughly reviewed your brand’s position in the market and its successes you are better positioned to determine the strength of your brand, identify your weaknesses, where your threats lie and find new opportunities for growth.
When should you carry out a brand audit?
Ideally you’d commission a brand audit each year, just before you begin your annual planning and budgetary cycle. You should consider a brand audit an essential step if you are thinking of relaunching or rebranding. You should also undertake a brand audit before you acquire, merge with or invest in a company. In all cases the brand audit will help you to see clearly where your brand is against where you want or need it to be and give you a clear idea of what needs to be done to get it there.
Service Methodology
If you have an existing brand strategy, we’ll use that as the basis for our brand audit. If not we can start with your anecdotal and quantitative data and knowledge. Either way through a combination of field research, desk research and workshops we will identify your brand’s current status with regard to:
- Your vision, values, purpose and mission and your ambitions
- Changes in who you are competing with and what they are doing in the market
- How your market landscape has altered
- What your customers think of you, how much share of mind you have, the circumstances in which you could lose them and the likelihood they will become promoters
- What is happening in your market segment, the relevance of your positioning and how well you are maintaining it.
- The relevance, accuracy and completeness of your customer personas
Brand Audit Deliverables
- Together we will produce an action plan that maps where you are against where you intended to be and how you will get there, and the new opportunities that we have found to build on the success of your business.
- The report will include recommendations to help you to improve on your positioning, targeting, messages and customer focus,
My 5-point Client Satisfaction Promise
- Your brand audit will be a candid evaluation of your business and its unique challenges against your strategic plan for your business
- It won’t be a dry report. It will be action orientated so that you have recommendations about what steps you need to take.
- Your investment and your payment schedule will be clear. If I can save you money by using what you already have, I won’t reinvent the wheel.
- A draft or interim report will be presented and workshopped with you. Any questions or uncertainties will be addressed in the final report. Which will also be workshopped.
- Sometimes the unexpected happens. If something extra is requested or required I’ll ensure you’re fully informed about the implications before you commit
