What is a Brand Audit? Simply put a brand audit is the practice of measuring and evaluating a brand’s performance in the market.
A brand audit is a practice of measuring, analysing, and evaluating a brand from both an external and internal perspective. The point of conducting a brand audit is to gauge your brand’s performance in the market; identify its strengths & weaknesses, and analyse the industry and your competitors.
All brands operate differently so there isn’t a universal method for auditing; however, some excellent tools for analysis and evaluation include using a SWOT table and conducting a PESTEL analysis. A SWOT consists of identifying the strengths and weaknesses of the brand from an internal perspective and identifying any external opportunities & threats. Whereas a PESTEL is an evaluation of external factors that could affect the brand. This includes political, economic, social, environmental, and legal factors.
Reasons For a Brand Audit
Brands may conduct an audit for any number of reasons. Sales may be dropping, website traffic could be low, email marketing isn’t working, the list goes on. Or it could be the exact opposite where the brand is performing extremely well and wants to know why. Why are sales high? Is it the ad campaign that was previously launched? Is it the new website? Either way, brand audits are an essential part of maintaining a successful business.
How do you start a brand audit?
In addition to using a SWOT and PESTEL analysis, there are many ways to conduct a brand audit. Some universal steps include:
1. Determine areas for analysis
2. Establish goals
3. Create objectives for reaching goals
4. Collect the data
5. Analyse the data
6. Ideate a solution
Brand Audit Example
A brand that operates solely online is experiencing a decline in sales. Consequently, the marketing department has decided to conduct a brand audit on the website and various social media accounts. Their goal is to identify areas of weakness and implement improvements. The objectives for reaching the goal are to analyse website traffic and social media performance over the past year. By using Google Analytics and social media analytics they have found that organic traffic to the website is steadily decreasing and social media presence is low. As such, the marketing department has decided to introduce new Search Engine Optimisation techniques and implement a paid social media advertising campaign.