The marketing health check with benefits
First of all, let us start by saying that a marketing audit aims to benefit your business. Unlike a financial audit, this marketing ‘health check’ can benefit your top line revenue. If you have a marketing strategy and plan already, it is worth making sure you are heading towards your marketing goals and trying to exceed them.
Read on to find out why this type of audit is indispensable for businesses and how it can boost your marketing return.
What is a marketing audit?
The godfather of marketing, Philip Kotler, defines a marketing audit as “a horizontal (or comprehensive) audit covering the company’s marketing environment, objectives, strategies, organization, and systems”. There are different types of marketing audits. These include a vertical audit (looking top-down, in-depth at a specific area) or a functional audit (looking at the department structure and roles).
It is usually conducted by someone independent of the operation that is being evaluated, such as a marketing consultant. The marketing audit process benefits from a structured approach, which is more desirable to bring the maximum benefit to a business. It also uses tried and tested techniques such as PESTLE and SWOT analysis and reviewing your competitive marketing strategy.
What is the importance of a marketing audit?
Unlike the annual legal requirement for a financial audit (if you meet the criteria), marketing activity should be audited regularly. However, a marketing audit is often only contemplated when there is a problem. For example, when there is downturn in sales or morale in the sales team is low.
In contrast, Kotler suggests that companies “are thrown into a crisis”. He expands, “Partly because they have failed to review their assumptions and to change them during good times”.
The definition of a marketing audit is refined as, “A marketing audit is a comprehensive, systematic, independent, and periodic examination of a company’s, — business unit’s—marketing environment, objectives, strategies, and activities. This is with the aim of determining problem areas and opportunities and recommending a plan of action to improve the company’s marketing performance.”
How do I benefit from a marketing audit?
Unlike a traditional marketing audit, Think Beyond offer a ‘health check’ across marketing and related functions. This features data mining and performance data, your value proposition and recommendations on organisational structure. You could find some surprising insights that you didn’t know you could leverage.
How about mining your business data to showcase your marketing performance? Maybe your website is not performing as you need. Perhaps your advertising is burning through cash and not bringing enough leads or the right quality. Would you like to save money and boost results? In summary, why not engage Think Beyond to conduct a thorough marketing audit.
Marketing support from Think Beyond
We are a marketing consultancy agency offering marketing consulting services and marketing agency support to all types of business. Based in Wilmslow, Cheshire, our Chartered Marketers, business experts and digital marketing gurus support you in six ways. We offer marketing strategy, digital marketing, lead generation, inbound marketing, marketing automation and marketing training. Furthermore, we design bespoke solutions that are right for you backed by data and numbers.
Also, why not fill in our handy contact form and one of the team will reach out to arrange.