Marketing Audit – Where are you now?
Identify your competitive advantage with a marketing audit Most companies regularly conduct a financial audit, but how many conduct a marketing audit? A full review of your company’s marketing and communication really helps to understand where your business is from a marketing perspective. Through reviewing issues such as: customers and your target audience; your competitors; the market place in general and your internal situation; you will be more informed about the success (or otherwise) of previous marketing activities. This information is invaluable in helping you to develop a successful marketing strategy and highlights what you will need to deliver the marketing strategy to ensure you meet your business objectives. A marketing audit analyses the business objectives and understands what it is the business is trying to achieve and allows management to make informed decisions on their future marketing direction. By conducting an impartial marketing audit, the team at UDMC can provide a fresh pair of eyes and an outsider’s view into your previous marketing activities and assess your performance against your competitors. A thorough marketing audit provides a benchmark for monitoring future marketing activity and highlights recommendations to improve the efficiency and performance of your company’s marketing activity. A marketing audit is often used by a company reviewing its business strategy. A marketing audit can inform management with an invaluable customer and market insight, vital to help them set realistic business objectives.
Aspects covered in a marketing audit include:
- SWOT analysis
- Customer and prospect research
- Competitor analysis
- Market overview – external factors covering a PESTLE analysis (Political,Ecnomic, Social, Technological, Environmental, Legal Factors)
- Marketing overview of your Internal factors assessing levels of internal communication
A marketing audit provides a comprehensive review of your company’s marketing activities and can help to reduce costs. If you are interested in UDMC conducting a marketing audit or finding out how a marketing audit can help give you competitive advantage, please contact us or phone (Provide the number)