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Brand Audit
Brand Strategy
Competitive Analysis
Marketing Strategy
Brand Positioning
ARTICLE #97
How to conduct a successful brand audit which ensures growth?
Brand Audit
Brand Strategy
Competitive Analysis
Marketing Strategy
Brand Positioning
Written by:
4 min read
Updated on: August 23, 2024
Toni Hukkanen
Head of Design
Creative Direction, Brand Direction
Toni Hukkanen
Head of Design
Creative Direction, Brand Direction
Toni Hukkanen
Head of Design
Creative Direction, Brand Direction
It is reported that companies that conduct regular brand audits are more likely to grow their revenue by 33% above the average rate. A brand audit is done to increase the overall health of your brand. It requires thorough research and analysis of all your brand exercises, like its strategies and operations, and then implementing the necessary changes to increase brand growth and enhance brand image.
This process defines the strengths and weaknesses of your brand and shows you possible factors that need attention or have the potential to grow. We will discuss the importance of brand audit, how to do a successful brand audit and how it can grow your business.
It is reported that companies that conduct regular brand audits are more likely to grow their revenue by 33% above the average rate. A brand audit is done to increase the overall health of your brand. It requires thorough research and analysis of all your brand exercises, like its strategies and operations, and then implementing the necessary changes to increase brand growth and enhance brand image.
This process defines the strengths and weaknesses of your brand and shows you possible factors that need attention or have the potential to grow. We will discuss the importance of brand audit, how to do a successful brand audit and how it can grow your business.
It is reported that companies that conduct regular brand audits are more likely to grow their revenue by 33% above the average rate. A brand audit is done to increase the overall health of your brand. It requires thorough research and analysis of all your brand exercises, like its strategies and operations, and then implementing the necessary changes to increase brand growth and enhance brand image.
This process defines the strengths and weaknesses of your brand and shows you possible factors that need attention or have the potential to grow. We will discuss the importance of brand audit, how to do a successful brand audit and how it can grow your business.
Why do we need brand auditing?
Why do we need brand auditing?
Why do we need brand auditing?
It does not matter if your business is running smoothly. You still need to conduct a brand audit at least once a year. This ensures that every operation is running efficiently and there are not any loopholes that can possibly drain your brand’s growth. And even if you encounter any potential loophole, there are ways you can overcome it easily. We will briefly explain why doing a brand audit is necessary.
To assess brand health
Assessing brand health during a brand audit means that you get an idea about how well your brand is performing. You can analyse the status of your brand health by reviewing all contributing factors.
First, you have to do a performance review. You can do it by tracking your sales numbers, evaluating your position in market share, and taking customer feedback regarding your product and services. It will tell you if your brand is growing or struggling. Next, you can do a competitor analysis of your brand and assess how well or poorly your competitors are performing.
You can also get an idea of what people think about your brand. Customer perception is an important factor in analysing your brand health. You can do it by using questionnaires and getting responses from social media platforms, engaging with your audience and asking them about your brand performance.
Keeping your brand messaging consistent is also necessary, and make sure your business is active on all social media platforms. Last, you have to do a SWOT analysis of your brand. It means strengths, weaknesses, opportunities and threats for your brand.
To stay ahead of competitors
The business market is very saturated now. Many businesses are in competition with each other. It includes both the established and new businesses. Doing a brand audit allows you to track the performance of your competitors and see if you can find opportunities to do better. By taking advantage of their competitor’s weaknesses and giving consumers a better service, businesses can increase their consumer engagement and satisfaction.
Brands who like to keep up with the trends and stay ahead of their competitors by presenting their services and products uniquely to their customers usually get more profit than others. By performing regular brand audits, a company will stay strong in the market and remain competitive.
To point out areas for improvement
Brand auditing is a process in which a company investigates how well its brand performs. The goal should be to identify issues and find ways to improve your brand. By carefully analysing the current market trends, listening to customers' feedback, and watching competitors’ behaviour in the industry, businesses can find new opportunities to sell more products or services and reach out to more customers.
It does not matter if your business is running smoothly. You still need to conduct a brand audit at least once a year. This ensures that every operation is running efficiently and there are not any loopholes that can possibly drain your brand’s growth. And even if you encounter any potential loophole, there are ways you can overcome it easily. We will briefly explain why doing a brand audit is necessary.
To assess brand health
Assessing brand health during a brand audit means that you get an idea about how well your brand is performing. You can analyse the status of your brand health by reviewing all contributing factors.
First, you have to do a performance review. You can do it by tracking your sales numbers, evaluating your position in market share, and taking customer feedback regarding your product and services. It will tell you if your brand is growing or struggling. Next, you can do a competitor analysis of your brand and assess how well or poorly your competitors are performing.
You can also get an idea of what people think about your brand. Customer perception is an important factor in analysing your brand health. You can do it by using questionnaires and getting responses from social media platforms, engaging with your audience and asking them about your brand performance.
Keeping your brand messaging consistent is also necessary, and make sure your business is active on all social media platforms. Last, you have to do a SWOT analysis of your brand. It means strengths, weaknesses, opportunities and threats for your brand.
To stay ahead of competitors
The business market is very saturated now. Many businesses are in competition with each other. It includes both the established and new businesses. Doing a brand audit allows you to track the performance of your competitors and see if you can find opportunities to do better. By taking advantage of their competitor’s weaknesses and giving consumers a better service, businesses can increase their consumer engagement and satisfaction.
Brands who like to keep up with the trends and stay ahead of their competitors by presenting their services and products uniquely to their customers usually get more profit than others. By performing regular brand audits, a company will stay strong in the market and remain competitive.
To point out areas for improvement
Brand auditing is a process in which a company investigates how well its brand performs. The goal should be to identify issues and find ways to improve your brand. By carefully analysing the current market trends, listening to customers' feedback, and watching competitors’ behaviour in the industry, businesses can find new opportunities to sell more products or services and reach out to more customers.
It does not matter if your business is running smoothly. You still need to conduct a brand audit at least once a year. This ensures that every operation is running efficiently and there are not any loopholes that can possibly drain your brand’s growth. And even if you encounter any potential loophole, there are ways you can overcome it easily. We will briefly explain why doing a brand audit is necessary.
To assess brand health
Assessing brand health during a brand audit means that you get an idea about how well your brand is performing. You can analyse the status of your brand health by reviewing all contributing factors.
First, you have to do a performance review. You can do it by tracking your sales numbers, evaluating your position in market share, and taking customer feedback regarding your product and services. It will tell you if your brand is growing or struggling. Next, you can do a competitor analysis of your brand and assess how well or poorly your competitors are performing.
You can also get an idea of what people think about your brand. Customer perception is an important factor in analysing your brand health. You can do it by using questionnaires and getting responses from social media platforms, engaging with your audience and asking them about your brand performance.
Keeping your brand messaging consistent is also necessary, and make sure your business is active on all social media platforms. Last, you have to do a SWOT analysis of your brand. It means strengths, weaknesses, opportunities and threats for your brand.
To stay ahead of competitors
The business market is very saturated now. Many businesses are in competition with each other. It includes both the established and new businesses. Doing a brand audit allows you to track the performance of your competitors and see if you can find opportunities to do better. By taking advantage of their competitor’s weaknesses and giving consumers a better service, businesses can increase their consumer engagement and satisfaction.
Brands who like to keep up with the trends and stay ahead of their competitors by presenting their services and products uniquely to their customers usually get more profit than others. By performing regular brand audits, a company will stay strong in the market and remain competitive.
To point out areas for improvement
Brand auditing is a process in which a company investigates how well its brand performs. The goal should be to identify issues and find ways to improve your brand. By carefully analysing the current market trends, listening to customers' feedback, and watching competitors’ behaviour in the industry, businesses can find new opportunities to sell more products or services and reach out to more customers.
Steps to conduct a brand audit
To conduct a brand audit, you will need a properly structured approach. A step-by-step procedure is mentioned below to perform a brand audit, from understanding your goals to comparing yourself to your competitors.
Define your brand identity
A brand audit starts with defining your brand identity. This would explain your brand’s values, mission, vision and personality. When defining your brand identity, ask yourself, “What are the core values of our brand? What makes our brand so unique? How does our brand behave and sound?”
This step is to ensure that you know which direction your brand follows and what possible changes it would need.
Analyse your brand inventory
This involves reviewing all digital assets that are linked with your brand, like its websites, social media platforms, marketing material and factors that affect the customer more. If you want to analyse your brand inventory, you should check the visual elements, like logos, colours, typography, etc., of your brand identity.
How can you describe the messages and tones of your brands on different channels, and where do customers interact with your brands in any way, for example, during sales or customer service interactions? This process helps you to identify any irregularities and gaps in the visual representation of your brand messaging.
Do a market analysis
Market analysis involves studying the target audience, industry trends, and market competition. This step clarifies your place in the market and identifies any opportunities for growth. Companies that perform regular market analysis notice increased revenue and customer engagement.
The main factors you will need to study are the needs, wants, and pain points of your target audience, industry trends and rising opportunities, and, lastly, competitors' strengths, weaknesses, and strategies.
Gather customer feedback
Customer feedback is the deciding factor in your branding success. You are doing everything for customers, right? So, what they say about your business matters a lot and should not be taken lightly. By analysing the customer feedback, you can decide which aspects of your business need more attention and what is going on well. To gather customer feedback, you can organise public surveys and questionnaires, use social media listening tools, analyse customer reviews and ratings, and create focus groups and interviews.
Competitor analysis through benchmarking
To analyse your competitors through benchmarking, carefully examine their strengths, weaknesses and market position. First, study who your major competitors are and what their strong points and weaknesses are. Then, analyse the positioning of our competitors’ products in each market and their unique selling propositions. Lastly, study how your competitors interact with their clients and what you should learn from them.
By analysing your competition using benchmarks, you will find ways to make your company different from others and gain a competitive advantage.
To conduct a brand audit, you will need a properly structured approach. A step-by-step procedure is mentioned below to perform a brand audit, from understanding your goals to comparing yourself to your competitors.
Define your brand identity
A brand audit starts with defining your brand identity. This would explain your brand’s values, mission, vision and personality. When defining your brand identity, ask yourself, “What are the core values of our brand? What makes our brand so unique? How does our brand behave and sound?”
This step is to ensure that you know which direction your brand follows and what possible changes it would need.
Analyse your brand inventory
This involves reviewing all digital assets that are linked with your brand, like its websites, social media platforms, marketing material and factors that affect the customer more. If you want to analyse your brand inventory, you should check the visual elements, like logos, colours, typography, etc., of your brand identity.
How can you describe the messages and tones of your brands on different channels, and where do customers interact with your brands in any way, for example, during sales or customer service interactions? This process helps you to identify any irregularities and gaps in the visual representation of your brand messaging.
Do a market analysis
Market analysis involves studying the target audience, industry trends, and market competition. This step clarifies your place in the market and identifies any opportunities for growth. Companies that perform regular market analysis notice increased revenue and customer engagement.
The main factors you will need to study are the needs, wants, and pain points of your target audience, industry trends and rising opportunities, and, lastly, competitors' strengths, weaknesses, and strategies.
Gather customer feedback
Customer feedback is the deciding factor in your branding success. You are doing everything for customers, right? So, what they say about your business matters a lot and should not be taken lightly. By analysing the customer feedback, you can decide which aspects of your business need more attention and what is going on well. To gather customer feedback, you can organise public surveys and questionnaires, use social media listening tools, analyse customer reviews and ratings, and create focus groups and interviews.
Competitor analysis through benchmarking
To analyse your competitors through benchmarking, carefully examine their strengths, weaknesses and market position. First, study who your major competitors are and what their strong points and weaknesses are. Then, analyse the positioning of our competitors’ products in each market and their unique selling propositions. Lastly, study how your competitors interact with their clients and what you should learn from them.
By analysing your competition using benchmarks, you will find ways to make your company different from others and gain a competitive advantage.
To conduct a brand audit, you will need a properly structured approach. A step-by-step procedure is mentioned below to perform a brand audit, from understanding your goals to comparing yourself to your competitors.
Define your brand identity
A brand audit starts with defining your brand identity. This would explain your brand’s values, mission, vision and personality. When defining your brand identity, ask yourself, “What are the core values of our brand? What makes our brand so unique? How does our brand behave and sound?”
This step is to ensure that you know which direction your brand follows and what possible changes it would need.
Analyse your brand inventory
This involves reviewing all digital assets that are linked with your brand, like its websites, social media platforms, marketing material and factors that affect the customer more. If you want to analyse your brand inventory, you should check the visual elements, like logos, colours, typography, etc., of your brand identity.
How can you describe the messages and tones of your brands on different channels, and where do customers interact with your brands in any way, for example, during sales or customer service interactions? This process helps you to identify any irregularities and gaps in the visual representation of your brand messaging.
Do a market analysis
Market analysis involves studying the target audience, industry trends, and market competition. This step clarifies your place in the market and identifies any opportunities for growth. Companies that perform regular market analysis notice increased revenue and customer engagement.
The main factors you will need to study are the needs, wants, and pain points of your target audience, industry trends and rising opportunities, and, lastly, competitors' strengths, weaknesses, and strategies.
Gather customer feedback
Customer feedback is the deciding factor in your branding success. You are doing everything for customers, right? So, what they say about your business matters a lot and should not be taken lightly. By analysing the customer feedback, you can decide which aspects of your business need more attention and what is going on well. To gather customer feedback, you can organise public surveys and questionnaires, use social media listening tools, analyse customer reviews and ratings, and create focus groups and interviews.
Competitor analysis through benchmarking
To analyse your competitors through benchmarking, carefully examine their strengths, weaknesses and market position. First, study who your major competitors are and what their strong points and weaknesses are. Then, analyse the positioning of our competitors’ products in each market and their unique selling propositions. Lastly, study how your competitors interact with their clients and what you should learn from them.
By analysing your competition using benchmarks, you will find ways to make your company different from others and gain a competitive advantage.
When should you conduct a brand audit?
Knowing when to conduct a brand audit is just as important as conducting one. This section will review several key moments when doing a brand audit is important.
During major business milestones
Conducting a brand audit at major business milestones keeps your brand focused on its goals and objectives. Major business milestones include rebranding or repositioning your brand. In this situation, a brand audit will help guarantee a smooth transition and minimise any surprise elements as you rebrand or reposition your business.
If you are deciding to merge your business or if you are thinking about acquiring any business, you should perform a brand audit first. It will help you to align the new brand with the values of the existing brand so you can maintain consistency in your brand values.
When you launch new products or services, conducting a brand audit will ensure that your brand message resonates with your overall brand identity. A brand audit also lets you know about the local market, competition, and customer needs. It ensures your business has a smooth entry.
In response to market changes
A brand audit after the changing market trends ensures your competitiveness and relevancy to market standards. You can do an audit if you notice any changes in consumer preferences and behaviour, making sure your brand remains relative and attractive.
If you have new competitors in the market, then a brand audit helps you to assess if they are even a threat to your brand position or not. It also helps you to devise your marketing strategies
accordingly. In case of any fall in the market, having a brand audit can show you areas where you can cut costs and manage your budgets.
Knowing when to conduct a brand audit is just as important as conducting one. This section will review several key moments when doing a brand audit is important.
During major business milestones
Conducting a brand audit at major business milestones keeps your brand focused on its goals and objectives. Major business milestones include rebranding or repositioning your brand. In this situation, a brand audit will help guarantee a smooth transition and minimise any surprise elements as you rebrand or reposition your business.
If you are deciding to merge your business or if you are thinking about acquiring any business, you should perform a brand audit first. It will help you to align the new brand with the values of the existing brand so you can maintain consistency in your brand values.
When you launch new products or services, conducting a brand audit will ensure that your brand message resonates with your overall brand identity. A brand audit also lets you know about the local market, competition, and customer needs. It ensures your business has a smooth entry.
In response to market changes
A brand audit after the changing market trends ensures your competitiveness and relevancy to market standards. You can do an audit if you notice any changes in consumer preferences and behaviour, making sure your brand remains relative and attractive.
If you have new competitors in the market, then a brand audit helps you to assess if they are even a threat to your brand position or not. It also helps you to devise your marketing strategies
accordingly. In case of any fall in the market, having a brand audit can show you areas where you can cut costs and manage your budgets.
Knowing when to conduct a brand audit is just as important as conducting one. This section will review several key moments when doing a brand audit is important.
During major business milestones
Conducting a brand audit at major business milestones keeps your brand focused on its goals and objectives. Major business milestones include rebranding or repositioning your brand. In this situation, a brand audit will help guarantee a smooth transition and minimise any surprise elements as you rebrand or reposition your business.
If you are deciding to merge your business or if you are thinking about acquiring any business, you should perform a brand audit first. It will help you to align the new brand with the values of the existing brand so you can maintain consistency in your brand values.
When you launch new products or services, conducting a brand audit will ensure that your brand message resonates with your overall brand identity. A brand audit also lets you know about the local market, competition, and customer needs. It ensures your business has a smooth entry.
In response to market changes
A brand audit after the changing market trends ensures your competitiveness and relevancy to market standards. You can do an audit if you notice any changes in consumer preferences and behaviour, making sure your brand remains relative and attractive.
If you have new competitors in the market, then a brand audit helps you to assess if they are even a threat to your brand position or not. It also helps you to devise your marketing strategies
accordingly. In case of any fall in the market, having a brand audit can show you areas where you can cut costs and manage your budgets.
Key tools and techniques for brand auditing
You will need several different tools and techniques to analyse the data, collect insights, and make strategic decisions when doing a brand audit. The most important tools and techniques for brand auditing are SWOT analysis, PEST analysis, and customer surveys. Let’s discuss them in detail.
SWOT analysis
SWOT analysis helps you to get a view of your business from both an internal and external perspective. It points out the strengths, weaknesses, opportunities, and threats to your brand. Then you can create a strategy accordingly to improve any compromised areas and enhance user experience.
The PEST analysis
A PEST analysis represents the external environment in which your brand operates, such as your market industry. PEST refers to political, economic, social, and technological developments that can influence your brand. It allows you to get an extensive overview of your brand market position, including opportunities and threats that are not always very obvious.
When you are doing a PEST analysis, you should consider some points. The first is, what are the political factors that are affecting your brand, and what should you do about them? How do any economic trends affect your brand, and what opportunities or threats will they pose?
Next, you should consider the social trends that are making an impact on the reputation of your brand and the preferences of your customers. And lastly, how has technological advancement influenced your brand, and what can be used as an opportunity?
Customer surveys
Customer surveys can be effective in giving you valuable information and insights from the target audience. They can also explain your customer needs, preferences, and pain points. So, we can say that customer surveys can help in product development, marketing strategies, and customer experience initiatives.
While doing a customer survey, always think about what your customers feel and perceive about your brand, what they value the most, and, lastly, how you can make all these things even better than before based on customers’ reviews.
You will need several different tools and techniques to analyse the data, collect insights, and make strategic decisions when doing a brand audit. The most important tools and techniques for brand auditing are SWOT analysis, PEST analysis, and customer surveys. Let’s discuss them in detail.
SWOT analysis
SWOT analysis helps you to get a view of your business from both an internal and external perspective. It points out the strengths, weaknesses, opportunities, and threats to your brand. Then you can create a strategy accordingly to improve any compromised areas and enhance user experience.
The PEST analysis
A PEST analysis represents the external environment in which your brand operates, such as your market industry. PEST refers to political, economic, social, and technological developments that can influence your brand. It allows you to get an extensive overview of your brand market position, including opportunities and threats that are not always very obvious.
When you are doing a PEST analysis, you should consider some points. The first is, what are the political factors that are affecting your brand, and what should you do about them? How do any economic trends affect your brand, and what opportunities or threats will they pose?
Next, you should consider the social trends that are making an impact on the reputation of your brand and the preferences of your customers. And lastly, how has technological advancement influenced your brand, and what can be used as an opportunity?
Customer surveys
Customer surveys can be effective in giving you valuable information and insights from the target audience. They can also explain your customer needs, preferences, and pain points. So, we can say that customer surveys can help in product development, marketing strategies, and customer experience initiatives.
While doing a customer survey, always think about what your customers feel and perceive about your brand, what they value the most, and, lastly, how you can make all these things even better than before based on customers’ reviews.
You will need several different tools and techniques to analyse the data, collect insights, and make strategic decisions when doing a brand audit. The most important tools and techniques for brand auditing are SWOT analysis, PEST analysis, and customer surveys. Let’s discuss them in detail.
SWOT analysis
SWOT analysis helps you to get a view of your business from both an internal and external perspective. It points out the strengths, weaknesses, opportunities, and threats to your brand. Then you can create a strategy accordingly to improve any compromised areas and enhance user experience.
The PEST analysis
A PEST analysis represents the external environment in which your brand operates, such as your market industry. PEST refers to political, economic, social, and technological developments that can influence your brand. It allows you to get an extensive overview of your brand market position, including opportunities and threats that are not always very obvious.
When you are doing a PEST analysis, you should consider some points. The first is, what are the political factors that are affecting your brand, and what should you do about them? How do any economic trends affect your brand, and what opportunities or threats will they pose?
Next, you should consider the social trends that are making an impact on the reputation of your brand and the preferences of your customers. And lastly, how has technological advancement influenced your brand, and what can be used as an opportunity?
Customer surveys
Customer surveys can be effective in giving you valuable information and insights from the target audience. They can also explain your customer needs, preferences, and pain points. So, we can say that customer surveys can help in product development, marketing strategies, and customer experience initiatives.
While doing a customer survey, always think about what your customers feel and perceive about your brand, what they value the most, and, lastly, how you can make all these things even better than before based on customers’ reviews.
Best practices to analyse audit results
Audit result analysis is a key part of a brand audit process. It is the transformation of data into information that results in actions to make strategic decisions for your business growth. We will brief some best practices to measure the brand audit results and analyse the effectiveness of an implemented strategy.
Develop key findings and prioritise recommendations
After you have done a brand audit, you can note all the key findings, like the strengths and weaknesses of your business and if there is any room for more opportunities or any threats as well. Then, you should use a ranking system to prioritise each finding based on its importance.
Develop SMART goals and assign accountability
Next, you can create SMART goals based on these findings. Here, SMART refers to specific, measurable, achievable, relevant and time-bound. This will set realistic milestones for your priorities. Then, ensure that every goal has a whole team or a team member to report to and that they take accountability for its progress.
Audit result analysis is a key part of a brand audit process. It is the transformation of data into information that results in actions to make strategic decisions for your business growth. We will brief some best practices to measure the brand audit results and analyse the effectiveness of an implemented strategy.
Develop key findings and prioritise recommendations
After you have done a brand audit, you can note all the key findings, like the strengths and weaknesses of your business and if there is any room for more opportunities or any threats as well. Then, you should use a ranking system to prioritise each finding based on its importance.
Develop SMART goals and assign accountability
Next, you can create SMART goals based on these findings. Here, SMART refers to specific, measurable, achievable, relevant and time-bound. This will set realistic milestones for your priorities. Then, ensure that every goal has a whole team or a team member to report to and that they take accountability for its progress.
Audit result analysis is a key part of a brand audit process. It is the transformation of data into information that results in actions to make strategic decisions for your business growth. We will brief some best practices to measure the brand audit results and analyse the effectiveness of an implemented strategy.
Develop key findings and prioritise recommendations
After you have done a brand audit, you can note all the key findings, like the strengths and weaknesses of your business and if there is any room for more opportunities or any threats as well. Then, you should use a ranking system to prioritise each finding based on its importance.
Develop SMART goals and assign accountability
Next, you can create SMART goals based on these findings. Here, SMART refers to specific, measurable, achievable, relevant and time-bound. This will set realistic milestones for your priorities. Then, ensure that every goal has a whole team or a team member to report to and that they take accountability for its progress.
Frequently Asked Questions
How frequently should you conduct a brand audit?
Conducting a yearly brand audit at least will always keep you ahead of the changing market and on the path to continuous growth.
What is the average cost of a brand audit?
The cost really depends upon the scope and depth of your audit. It could be anywhere between the thousands or as low as a few hundred dollars. It matters if you are doing it yourself or hiring an agency.
How are digital tools used to audit a brand?
Digital tools help businesses to collect data, analyse market trends, monitor customer feedback, and benchmark against competitors.
Conclusion
After conducting a brand audit, you cannot understand its effect unless you measure the results of applied strategies. To do this, you can set KPIs like customer satisfaction, social media engagement and website traffic, tracking and analysing the results of your decisions and then adjusting them accordingly for better brand performance and growth. Performing a brand audit allows you to stay competitive and prepared in case of sudden market changes or consumer requirements.
Frequently Asked Questions
How frequently should you conduct a brand audit?
Conducting a yearly brand audit at least will always keep you ahead of the changing market and on the path to continuous growth.
What is the average cost of a brand audit?
The cost really depends upon the scope and depth of your audit. It could be anywhere between the thousands or as low as a few hundred dollars. It matters if you are doing it yourself or hiring an agency.
How are digital tools used to audit a brand?
Digital tools help businesses to collect data, analyse market trends, monitor customer feedback, and benchmark against competitors.
Conclusion
After conducting a brand audit, you cannot understand its effect unless you measure the results of applied strategies. To do this, you can set KPIs like customer satisfaction, social media engagement and website traffic, tracking and analysing the results of your decisions and then adjusting them accordingly for better brand performance and growth. Performing a brand audit allows you to stay competitive and prepared in case of sudden market changes or consumer requirements.
Frequently Asked Questions
How frequently should you conduct a brand audit?
Conducting a yearly brand audit at least will always keep you ahead of the changing market and on the path to continuous growth.
What is the average cost of a brand audit?
The cost really depends upon the scope and depth of your audit. It could be anywhere between the thousands or as low as a few hundred dollars. It matters if you are doing it yourself or hiring an agency.
How are digital tools used to audit a brand?
Digital tools help businesses to collect data, analyse market trends, monitor customer feedback, and benchmark against competitors.
Conclusion
After conducting a brand audit, you cannot understand its effect unless you measure the results of applied strategies. To do this, you can set KPIs like customer satisfaction, social media engagement and website traffic, tracking and analysing the results of your decisions and then adjusting them accordingly for better brand performance and growth. Performing a brand audit allows you to stay competitive and prepared in case of sudden market changes or consumer requirements.
ARTICLE #97
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ee@for.co
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