When you’re immersed in the day-to-day operations of your brand, it’s hard to keep in perspective all the brand management parts which impact the whole.
This is where a brand audit will help, ensuring your brand has the maximum potential to capitalise on the benefits below:
- Build mental availability for the 95% of category not in market.
- Mitigate risk by using market insights and strategy to guide tactics.
- Provide superior resilience in tough trading periods or recessions.
- Impact effectiveness of recruitment and shape work culture.
- Ensure distinctive design codes and differentiation are on brand.
- Reduce price sensitivity, expedite sales and enable greater margins.
- Accelerate value of intangible assets and build brand equity.
Professional brand management is an ongoing annual cycle, but every 2 or 3 years it pays dividends to invest in an external pair of eyes and ears to conduct a root and branch brand strategy audit, reviewing internal and external brand resources, plus the customer experience.
By assessing across these three axioms, you can be sure you will evaluate your brand against the essential elements only found in the strongest, most effective brands, as summarised below:
- Does the brand excel at delivering benefits the customer desires?
- Does the brand invest in market orientation to remain in touch?
- Does the brand have clear strategic objectives to focus efforts?
- Does the brand have clear positioning for its target segments?
- Does the brand deliver consistency across every touch point?
- Does the brands portfolio and hierarchy make sense?
- Does the brand use a full repertoire of tactical channels for reach?
- Does the brand receive sufficient support, fiscal and human?
- Does the brand track awareness and perceptions across the category?
Need support or mentoring to get your brand strategy audit in place? Start by booking your FREE 30-minute consultation with me on https://themarketinglab.live/
Marketing Lab is a brand management consultancy working with national and international businesses to mitigate marketing investment risk, ensuring more informed decisions are made for growing sales, market share, and brand equity value.