If you’re a business owner or marketer, you’ve probably heard the term “brand audit” thrown around. And it sounds intimidating because when is an audit ever a good thing?
Despite how ominous an audit sounds, we’re here to tell you that it’s an excellent financial investment in your company. The best part? You don’t have to figure it out alone. (And you probably shouldn’t – more on that in a bit!)
Read on to learn more about what a brand audit entails and the benefits of working with a professional branding agency to audit your brand.
What Is a Brand Audit?
Companies use brand audits to study and reevaluate their market positioning. By combing through each branding component, businesses learn more about how consumers perceive, interact with, and trust their brand. These audits also offer valuable insights into a brand’s performance relative to the competition, both locally and nationally.
Here are some of the brand components that a brand audit will study:
- Unique selling points (USPs)
- Product and service offerings
- SEO and content marketing (social media, blogs, and newsletters, for example)
- PR and brand reputation
What Are the Benefits of a Brand Audit?
On a macro level, the most significant benefit of a brand audit is that it shows a company exactly where action is needed. It highlights the brand components that work well and drive consumer interest and revenue, along with the aspects that could use some improvement.
This data also makes brand audits incredibly valuable investments in your company. Brand audits save companies money by pointing out weaker points in branding, such as underperforming PPC ads or a service that costs more to offer than its ROI. Companies can then funnel these savings into building on the branding components that do work!
How Should Companies Approach a Brand Audit?
Working with a branding agency for your brand audit is a good idea for two reasons. One, they’re an objective third party – it’s tough to remove yourself enough from your brand to view it with fresh eyes. And two, quality branding agencies have a staff of marketing professionals with extensive knowledge about branding, studying brand KPIs and other metrics, and performing data analysis.
For brand audits, branding agencies use an approach known as a SWOT analysis, which is an acronym for the four areas of the audit: brand strengths, weaknesses, threats, and opportunities.
Nobody Likes Audits, So Let Us Do It for You!
At Hausbeck Brand, marketing and branding is our specialty. We can become an extension of your marketing department, bringing a new set of eyes and a fresh perspective to audit your brand. We’ll save your marketing department time and resources, conduct a detailed, tailored brand audit for your business, and then work with you to implement branding changes.
Be sure to check out all of the services we offer, and contact us today to schedule a consultation. Let us help you navigate a brand audit and make adjustments to your branding and marketing to skyrocket your brand in 2023!