Why do a brand audit?
A brand audit helps uncover the effectiveness and authenticity of a brand. You might think it’s scary, but it’s actually pretty exciting, and you don’t always have to start from scratch once you have your findings. Strong brands use brand audits to figure out who their target audience is so they can connect with them, build customer loyalty and boost ROI.
You’ll find that the audit shows that your brand could do with a bit of evolution most of the time. But now and again (and most exciting of all), you’ll find that your whole brand needs updating and revising.
How important is brand auditing for your business (and for your customers)?
Pretty important! It may seem like a pointless exercise but think of a brand audit as a health check to make sure your brand stays strong. Brand awareness is crucial if you want a strong and healthy brand, and emotions are your most powerful tool. Customers have options, and they don’t have to choose you, so if you can connect with them on a personal, emotional level, you’re ahead of the game.
Brand audit benefits include reigniting your passion for who you are and growing a deeper understanding of who your audience is. Ultimately, you’ll be armed with a plan of action that can directly improve your bottom line and should be part of your business strategy and help inform your marketing plan.
So, what’s included?
A good brand audit includes:
- A SWOT analysis
- Competitor analysis and how you compare
- Review of your position in the marketplace
- Analysis of how your customers feel about your company
- Analysis of brand ownership and advocacy internally
- Looking at your existing strategy across your brand touchpoints
- A review of your brand expression and its effectiveness (brand identity, messaging and tone of voice, etc.)
How to conduct a brand audit: A people focussed process
Ready to give it a go? Then you’ll need a process! These are the ten key stages I’d advise you to take.
- Start with a SWOT analysis and think about your business, your brand, and any opportunities and threats you face.
- Identify your target customers and see how well you’re connecting with them. Do they know what you want? Do they like what you’re about?
- Analyse your website using Google Analytics to see where your traffic is coming from. Find out how people find you and if they’re your target market. How’s your conversion rate so far? What’s your bounce rate? That’s how many people are coming to your site, then leaving without converting.
- Take a deep dive into your online marketing activities and social media presence. You can review your social media analytics using the platform’s tools. Take a good look at who you’re connecting with. Are the people in your target market? How do you convey your brand online through your social media marketing? Is the message consistent?
- Listen to your customers. Ask them how they perceive you, how they see your personality, and what they think of the customer service experience. Make sure you’re understanding customer experience across all touchpoints. You can use online surveys, phone interviews or face-to-face workshops.
- Do the same with your team. Ask them about culture, structure, and what you do. Do they know what you do for your customers? You will need to assess your internal branding and whether your team is advocating your brand and understanding your values. It would be best if you also asked them what they think of your internal communications.
- Assess your brand assets and collateral. How do you express your brand identity? Include your messaging and voice, as well as your logo and visual identity. Take a look at your marketing efforts, content marketing strategies and ROI. Do you have both external branding and internal branding? How do they differ, if at all?
- Run a competitive analysis. What are your competitors doing? What do you admire about them? How do they compare with you?
- Gather your findings and use them to figure out what you need next and come up with a plan.
- You can update, refine, refresh or restart your brand strategy. It all depends on your findings. After a certain amount of time, you should revisit the brand audit process to see how things are going and iterate if needed.
How long will it take your business to conduct a brand audit?
A brand audit typically takes around a month. It may take longer depending on your audience and target market or whether you fit it into your daily workload.
How much do brand companies charge for this service?
If an SME were to commission an agency, they would most likely pay upwards of £2,000 for a comprehensive brand audit.
Brand audit checklist and process
- Conduct a SWOT analysis
- Identify your target customers.
- Analyse your website with Google analytics
- Conduct a digital and social media analysis
- Look at your current customers and analyse your business audience.
- Look at your internal team.
- Review your current brand assets, internal and external communications, marketing campaigns, etc.
- Analyse your competitors
- Write up your findings.
- Develop your strategy
Reviewing your brand strategy
Your brand audit will help you figure out what steps need to be taken to get your brand in tip-top shape. Depending on what you find during the process, you might want to update your brand strategy or start over from scratch! Whatever you find out, it’s important that you keep in mind and make sure to refer back to what you have discovered as you move through your branding journey.
Need more help?
You can find out more about brand services here 👉 thinkeq.co.uk/what/brand/
Or, you’re curious about how a brand audit could help your business connect with your customers, get in touch with us today!
👉 Start your project