What is a brand audit?
What is a brand audit and why should you do one?
A brand audit is a detailed analysis that shows how your brand is currently performing compared to its set goals and then look at the wider landscape to see how that performance positions you in the market. These methods and focus areas can differ depending on individual companies.
A Brand Audit will allow you to:
- Evaluate the performance of your brand
- Establish your strengths and weaknesses
- Examine the efficiency of your existing external marketing collateral
- Examine Internal Branding: your positioning, voice, brand values, culture, USP, and product
- Align your strategy more closely with the expectations of your customers
- Discover your place in the market compared to the competition
Why should you do a brand audit?
People make decisions based on impressions. And if you haven’t decided on the impression you want to make, along with taking the actions to implement this, then your image may be incorrectly projected.
The cost of this, be it a personal brand or your company brand, is that those who invest in you – clients, employers, employees and stakeholders may have the wrong idea of your values, or your products or your service. If you don’t address these perceptions – correcting the weak and building on the strong, chances are you will slip behind your competitors and feel it in your bottom line.
What are the benefits of a brand audit?
If you have a company and you have a brand… chances are you don’t know how well it is doing across the board. A Brand Audit provides a health check and a measurable and implementable action plan. Understand how your customers understand and perceive your company and products/services.
A brand audit will:
- Give you insight to how your marketing investments are working.
- Give you insights into what your clients and customers are thinking of you, and what is affecting their purchasing decisions. This allows you to to fix problems, or identify your top-selling services and products.
- Allow you to understand how your staff are feeling – this will help you with staff retention, morale and assist in identifying your loyal brand ambassadors and future leaders in the company.
- Allow you to discover if your company values are actually being practised, or if they are just lip service in the boardroom.
- Define if your products/services are correctly suited to the market you are selling to – and if you need to reassess your offering, or redefine your target market.
How is a brand audit done?
We’ll give you a more comprehensive breakdown when we discuss your brand audit, but in short, we do it by visually assessing your brand, and then by surveying your company, stakeholders and customers.
We do this with a team of experienced designers and marketers who’ve worked on top recognisable global brands for a minimum of 10 years each. We use common sense (a highly underrated tool!) and a passion for successful branding, to look for improvement opportunities, and to then create an implementable action plan – because you could have the most incredible report, but without putting it into practice, it means nothing. And then, if you want (and we do recommend this), we follow it up at a later stage to ensure that this has been put into place and to measure the success.
Do you need a brand audit? We can assist you with brand audits, perception audits and employee engagement surveys. Speak to Halo today.