There are plenty of awesome reasons to conduct a marketing audit, but we’ll keep it to the top 5 for this post. The main goal of any marketing strategy is to achieve a certain set of goals and objectives - but things change. Your products change, your customers change, and even your goals will change over time. It’s crucial to your campaign’s success that those goals and objectives are routinely scrutinized and re-evaluated, to ensure the company is on the road to success.
Does Everyone Even Know What We’re Currently Selling?
This may sound like a dumb question, but it’s a real problem for growing SMB’s. Marketing audits get everyone up-to-date and current with the latest products and services. There are likely new products and services being rolled out regularly, and while it’s nice to think that everyone actually reads every email you send them, let’s be real about this. Prices change, programs change, and a marketing audit will ensure that everyone has access to the most recent and important product information.
Did Our Plan From Last Year Actually Work?
Marketing audits give you the opportunity to look at your success, failures and uncover opportunities. How can you possibly know whether or not you’re successful with a particular campaign or product launch if you’re not taking the time to measure the results? A marketing audit will allow you to do a thorough analysis of what you’ve been doing, and what those efforts have accomplished. It would also make opportunities apparent, that may have gone unnoticed otherwise.
Who The Heck Is Our Target Market, Anyway?
Marketing audits will allow you to revisit who your target market is, and ensure your message is still reaching them. Having a solid understanding of who your target market it, and knowing what makes them buy and what they want from you, is crucial to developing marketing messages that will engage them. We now live in a world where consumers are in the driver’s seat. Marketing is no longer about pushing your own promotions out into the world. It’s about creating meaningful relationships with your customers, and building brand loyalty. You can’t do that unless you know who are they are, and what makes them buy. A marketing audit will ensure your messaging continues to reach your ideal customer base in a meaningful way. And, if your product mix has changed, you might have an entirely new demographic of customer you need to start including in your strategy.
How Much Money Will This Take?
A marketing audit will help you determine what kind of budget you need going forward. If you have to fight tooth and nail to maintain their budget year after year, you know this struggle very well. Investing in a marketing audit will give you the confidence you need to stand in front of a room and clearly show, with proof, why you need a certain investment level to market the company effectively. The audit will be able to demonstrate what you can accomplish within certain budgets, taking the guesswork out of your forecasting. It will be able to tell you what you can accomplish with that you’re able to spend.
Don’t Get Stuck in 2015
In my opinion, this is one of the most important reasons to conduct a marketing audit. How much has the marketing landscape changed in the past 3 years? The changes have been monumental and even earth-shattering for some industries. If your plan is based around what worked 3 years ago, it’s likely that you are falling behind your competitors. You may be using an old SEO strategy that is now completely ineffective. Keeping current and starting fresh is critical if you want success in today’s digital marketing world. Things change very quickly, and you don’t want to get left behind. You want to stay on top of the trends, and be fully aware of what’s expected for the year ahead.
Founder | Malamax Content Marketing