Performing a routine marketing audit is a great business practice and an extremely important one for any size business big or small.
Marketing audits provide great insight and conducting one for your business can result in increased ROI and revenue. They allow you to take a closer look at your marketing strategy and tactics to determine what has worked and what hasn’t, reveal inefficiencies, uncover new strategies or tactics, and inspire new ideas.
It’s been said that 10% is the magic number when it comes to determining your what portion of annual gross revenue spend should be on marketing. However, many small to medium sized business struggle to even attribute 5% towards their marketing each year. For these businesses a marketing audit is not just a great idea, but it’s a necessity.
Here’s a quick way to evaluate your current marketing strategies and tactics and determine whether or not they require rethinking, revamping, or trashing.
1. Evaluate all your marketing assets and determine whether or not they need updating or complete reworking by asking the following questions:
a) Is it professional? _______________________________________________
b) Are they consistent? ____________________________________________
c) Is it effective? ___________________________________________________
d) Is it current? ____________________________________________________
Although often treated as such, marketing collateral and assets are not just a set it and forget it thing. They should always be evaluated and evolve constantly to maintain their value and stay current.
2. Evaluate all your marketing assets and determine their effectiveness in terms of the message being communicated:
a) Is it consistent? ________________________________________________
b) Is it effective? __________________________________________________
c) Does it reflect your business accurately? ______________________
d) Is the copy and content relevant? _____________________________
e) Is it current? ____________________________________________________
It’s also important to review any content to determine that the voice, tone and personality being conveyed is accurate. It is equally important to ensure that it’s been uniquely crafted and isn’t just recycled content. Lastly, simplifying content as much as possible to convey a clear message with fewer words is rewarded heavily in today’s world where our attention is extremely limited.
3. Evaluate all your marketing assets to determine the return on investment whether monetary or otherwise:
a) Are there measurable targets? If not, set some. _______________
b) Does it meet set objectives and targets? ______________________
c) Is there a quantifiable ROI? ____________________________________
d) Does it enhance awareness or exposure? ____________________
Although often treated as such, marketing collateral and assets are not just a set it and forget it kind of thing. They should evaluated frequently and evolve to maintain their value and stay current.
___ Business Cards
___ Banners & Displays
___ Pitch/Presentation Decks
___ Promotional Flyers
___ Products & Apparel
___ Other Materials: _______________________________________________
___ Email Signature
___ Email Address and Domain Names
___ Website Design
___ Website Content
___ Email Campaigns
___ Social Media
___ Display Ads
___ Signage & Decals
___ Case Studies / White Papers
___ Radio & TV
___ Trade Shows & Conferences
___ Mail Campaigns