A strong brand becomes more profitable and increases company value. They enable you to charge a premium and win customer preference when they make their buying decisions. To become a strong brand, take a brand audit to identify your strengths and weaknesses. You can think of it as a health check to see if your brand is performing in the marketplace, and if not, see how to improve it. Read this post to learn more about a brand audit.
1. The Definition
Brand audit has recently become a buzzworthy phrase in the market, but first let us understand what it is. A brand audit is basically a deep-dive into your brand’s current position in the marketplace – both the good and the bad. For example, your audit could identify inconsistencies in your brand identity or tone of voice, list down the social networks that your audience is using, or even show you your strengths and weaknesses.
2. The Deliverables
A brand audit is an analytical study of numerous aspects that make up your brand. During a brand audit, you can evaluate the following aspects of your brand and witness the results of a number of tests:
Internal Branding
· Brand values, vision, and mission
· Unique selling point (USP)
· Products and service
· Marketing strategy and pricing
· Brand goals
· Ideal customers and audience base
· Brand personality, voice, and message
External Branding
· Brand logo and visual identity
· Brand website and blog
· Brand advertisements
· Brand marketing collaterals
· Social media accounts and content
· Content and email marketing
· SEO
Customer Experience
· Channels of customer support
· Customer touchpoints
· Sales process and funnel
· Customer journey – offline and online
3. The Parameters
There might be different reasons based on which you have decided to take a brand audit. Also, you might want to conduct your brand audit based on your specific goals and focus areas. However, whichever type of audit you choose to do, you should at least evaluate based on the following parameters:
- The strengths and weaknesses of your brand
- Your market presence in comparison with your competitors
- Your brand strategy towards target groups and audience
- Where you stand in your industry
The Next Steps
Now that you have understood the broad strokes of a brand audit, you might want to get started on performing one for your company. Continue reading our series on brand audits; or contact the Bumblebee Branding Company in Chennai, India, to conduct a brand audit for your company. It is always best to get it done from an external source who can see from outside the situation.
