Don't Sweat It - A Marketing Audit Increases Profits

First things first, don’t panic!

Marketing Audit

When most people hear they have to do an audit, their palms get sweaty and a wave of worry comes over them, thinking about the time consuming effort that now needs to be managed.  There is also the concern that something was done incorrectly and large penalties will be imposed.  While this may be true for a tax audit, it is not the case for a marketing audit.

Make a Connection

A marketing audit is a point-in-time review of how your marketing activities line up with your
marketing strategies.

The review will examine 3 things:

  1. A review of your current marketing strategy. While it is helpful to have a documented strategic plan, an interview with the key business leaders will uncover this information.
  2. A review of the marketing environment.  Have trends changed? Is there more competition?
  3. A review of the connection between the current strategy and how the business uses tools to market its products and services.  Does the website need updating? Has messaging changed? Does your business card still work for you?

After the Audit

The audit is fact-finding mission.  If you don’t use it to improve, it becomes nothing more than a nice-to-know document.  So the next step is to determine how the information from the audit will change you business’s marketing going forward.

The 3 P’s

  • Prioritize
    Think about how improving or upgrading your efforts on a particular area will impact the bottom line.  Are there low-hanging fruit opportunities that will make an impact easily and quickly?  Perhaps there are some initiatives that will require a longer planning cycle to properly budget and address what needs to be done, like upgrading your marketing website to e-commerce.

 

  • Plan
    The purpose of marketing is to connect with your target audience in a way that compels them to take action so they will choose your products or services. If you want to successfully get your message to the right people, you’ll need to evaluate your marketing plan on a regular basis and make adjustments based on changes in your business and the environment.

 

  • Profit
    Marketing AuditNone of this is meaningful unless you are making money. Your marketing efforts should bring customers to your door while your sales efforts close the deal.  Be sure your team is informed about what goals you have put in place and how you plan to achieve them.

Much of the success of any business rides on its marketing strategy.  Let’s brainstorm together, contact me at 203-426-9193 or tfarin@jantris.com to get started.

» Stay tuned for my next blog, “What’s in My Essential Marketing Tool Box?” coming in March.

About the Author

Tricia Farin

As the founder and owner of Jantris Marketing Services, Tricia brings a rare combination of creativity and analytical prowess and maintains a rigorous focus on objectives to ensure business results. Her broad reaching, in-depth knowledge and versatility in the marketing industry are key components to her proven successful track record.

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