What is a Marketing Audit?

goals strategy Dec 04, 2018

A Marketing Audit is a comprehensive, analysis and evaluation of your business' marketing. This includes your goals, strategies, tactics, and the results of your marketing efforts.  This is the first step towards creating a powerful marketing strategy - knowing your current situation. Your market audit is a powerful way to get in touch with your brand, products, and services and refocus your marketing efforts. 

In this article, you'll learn more about the marketing audit, its components and how it is used. 

 

Evaluate Your Current Marketing Plan

To begin your marketing audit, evaluate your big-picture plans. What are your current goals or objectives for marketing? What marketing strategies are you employing? What is your marketing mix? Is your marketing team effectively implementing the marketing plan? Are the marketing objectives you set the appropriate ones for your business? If you have never documented the big picture plans before, then your first step is to do exactly that. 

 

Analyze the Marketing Mix

This is a very measurable part of the audit where you can analyze the strategies implemented and whether they are effective. What results have you achieved with your marketing strategy up to now? What is the reach and impact of your marketing efforts? This is the data analysis step of the process. You take time to go through all of your marketing channels and measure what's happening. 

Some highlights to look for:

  • What is the reach of this marketing channel? (i.e. Facebook Page Followers or Email List Subscribers)
  • What is the engagement rate? 
  • What has been the best and worst efforts made over the past 6 months?
  • How do you measure up to competitors? SWOT Analysis. 

In many ways, a marketing audit clarifies opportunities and threats to your success. You come away with a plan on how to improve. An audit is a smart and effective way of evaluating the plans you've made, decide whether things are working, and adjusting as necessary.  

 

TIPS FOR A GOOD MARKETING AUDIT

1. Data First. Try to focus on the data and the story it tells, rather than making any assumptions. 

2. Independent Insights. If you are the marketing manager or owner of the business, consider bringing in an outside party or someone from a different department to do the audit so that you do not influence the recommendations. 

3. Annual Audit.  A good frequency for your marketing audit is annual or once every two years.

4. Beyond Tactics. Your marketing audit should look beyond marketing tactics. Look at internal factors such as the efficiency of the marketing team and the way company culture impacts their work.

5. Be Systematic. This is the biggest factor in a successful audit. A comprehensive and systematic marketing audit is focused on your customers and competition.  


Want to take the next steps?

We've created a marketing audit template to guide you through the first steps of auditing your marketing. This includes setting goals and taking an inventory of your content