Do you know how well your brand is performing in the market?
Is your current brand strategy working to improve your brand?
What are the strengths and weaknesses of your business/company?
These are the tough and sometimes complicated questions that need to be asked in order to keep a consistent, strong and reputable brand moving forward. Taking time to self-reflect can be the most important task you undertake for the success of your business – figuring out what to do next and why.
The most efficient and cost effective way to determine what to do next is to undergo a brand audit. A brand audit is a very valuable tool because it can set your future marketing communications on the right track and save you time and money in the long run. Your brand audit will ascertain whether your sources of brand equity are satisfactory as well as finding any brand equity associations that are weak or damaging. Believe it or not, we rarely undertake a brand audit and not find any negative associations. It also will indicate whether you have any unique positive associations that make you stand out in the crowd. Remember, without these unique associations, you are just another sheep in the flock.
To begin the process we analyse your present and past marketing and market related communications, then we work to understand customers perceptions of your brand; both your internal and external customers are important sources. We want to capture a candid story about their thoughts and feelings of your brand. We then develop that vital brand schema that gives unique insights into how your brand can be better managed.
With our marketing research we are then able to ascertain the level of brand awareness, your brand image or profile, your target market and competition as well as your brand’s points-of-parity (POP) and points-of-difference (POD). Both are very important because you need to check all the POPs as well as having some stand out PODs. You wouldn’t want a competitor winning hands down just because you have left out an element that every one of your customers expects and you must have something unique that makes them decide to choose your brand.
As you can see, a brand audit is a very powerful tool because it sets your future strategic direction. It can make all the difference to your future success in the marketplace. Contact Shared Marketing today to arrange a Brand Audit.
1. Understand Customer Perception.
In order to grow your brand effectively you need to know how your target audience perceives you. Knowing how your audience feels about your message and values in relation to their own wants, needs, loves, hates and aspirations is key to making marketing decisions that are both appealing and trustworthy in their minds.
2. Embrace your Difference.
The last thing you want for your brand is to have it blend in with the countless others in the marketplace. During your brand audit we can help you determine what makes you unique in the eyes of your customers and how we can further promote your unique qualities to attract new customers.
3. Expert Results
It’s one thing to find answers to all the tough questions brought on by a brand audit, but how do you use the information in a way which helps you create or update your brand strategy? At Shared Marketing we know which questions to ask and how to turn the answers into valuable tools that improve your marketing and grow your brand.