While an accounting audit can tell you about the financial state of your business, a marketing audit can be the first step toward making your business grow. Moreover, marketing audits should be less painful and less expensive than accounting audits.
Exactly what is a marketing audit?
A marketing or communications audit examines the messages that your company sends to prospects, customers/clients, media, and the community. It compares the intent and objectives of your company’s messages with the perception they actually created. Are the right messages reaching the targets in the proper context? How clear is the message to an outsider? How does it stack up against the competition? Is your company receiving adequate ROI? Why or why not?
A true marketing audit extends beyond planned marketing communications. It investigates what subliminal messages transmitted by the way you do business. What do your employees, the appearance of your site service policies, price, etc. say about your business?
What should a marketing audit include?
A marketing audit examines advertising, web pages, customer communications, publicity, events, trade shows, mail, sales scripts and methodology, collateral (online and offline brochures, etc.), and perceptions. A basic audit should be conducted in two phases. The first phase involves an objective look at the communications in context (e.g., an ad in a newspaper). The second phase consists of observation and interviews with executives, sales and marketing personnel as well as other key employees.
Ideally, after the results of the audit have been reviewed, there is a third phase—questionnaires for customers to fill in the blanks and validate the conclusions of the audit.
What should you look for when picking a marketing auditor?
The three most obvious attributes are objectivity, experience, and expertise. Objectivity means that the auditor has neither preconceived notions about your company nor ax to grind—don’t expect an effective audit from someone already working for you. In addition, the auditor should have an extensive background to provide a meaningful context and the expertise to determine the direction to take to improve performance.
What does a marketing audit cost?
As you would expect, prices vary and the single most important variable is how much marketing there is to audit. Specific parameters should be established. It would be wise to select an auditor who has wide experience with markets and media and who appreciates the value of an extensive and intensive audit.
Although it’s an oversimplification, there are two main directions in which an audit can lead—continue on the same path or change directions and focus. A helpful audit will specify which areas you should change and why. For a company that wants to grow, it’s a simple and inexpensive step that could save money and/or generate business in exponential amounts.
