The Marketing Audit: Are Your Marketing Activities Aligned With Your Corporate Strategy?
Marketing’s purpose is to feed sales with qualified, interested prospects or alternatively to effectively present & differentiate a brand’s value proposition to customers or investors.
The findings of the marketing audit will provide actionable insights for business leaders to improve the effectiveness of their marketing activities and programs.
If you don’t know where you are going, how will you know if you are making progress? Most companies and entities, especially medium-sized and smaller ones, often have poorly defined or even absent formal marketing objectives, milestones and KPI. The Marketing Audit rectifies that.
It is a systematic orderly examination of a company’s strategic marketing objectives that can be communicated to stakeholders, and identifies specific steps that can be taken to improve marketing effectiveness.
It is not designed to place blame, and should not be seen as a threat by providers such as marketing & advertising agencies, PR firms, or advertising destinations. It is designed to make sure that they are given the most appropriate goals and guidance in order to help the client achieve its objectives; in other words to make sure that their activities are aligned with and support company goals. When they are not aligned, it is often due to inadequate communications between the client and their internal or external marketing suppliers. In smaller business such organs may not exist formally, and the marketing audit is very likely even more necessary.
The marketing audit is a 5 step process:
- In depth information gathering & discovery
- Analysis and compilation of information, data & responses
- Preparation of the marketing audit report
- Presentation and feedback session with the client
- Action plan based on feedback session developed and submitted.
Also offered, apart from the initial engagement scope, is ongoing implementation support.
Our Marketing Audit examines over 32 separate variables as appropriate and relevant to your particular organization, and the end result is a set of actionable findings that help clearly define your expectations from marketing activities, and key performance indicators specific to your objectives, resources, and stakeholders. Once completed, at any point in the defined period, you will be able to qualitatively and quantitatively compare actual activities and actual results with activities planned and desired outcomes.
The Marketing Audit, based on methodologies developed by management guru Dr. Orlando Skelton is an in-depth process that generally takes multiple days of on-site interviews (though virtual alternatives are also workable) and 2-4 weeks of review and analysis before presenting the final results in a report format with an executive discussion session.