There are, definitely, a lot of other examples and case studies related to marketing audit. They differ from each other due to specific cases that are highlighted and most of the time it is difficult to find a marketing audit that suits your case. In this article, we will talk about the marketing audit and how to perform it by yourself.
Instead of writing the entire theory and answering questions such as why you need it and when it is best to perform one, we will approach the questions that are a part of the entire marketing audit process.
So, let’s start with top priorities, and in all cases, clients come first.
Who is your client? Identify client profile and find out what are the client’s needs, interests, demands, and requirements. Why does the client need the product or service you provide? For further work, you will need this information in the work process with managers of customer care and sales.
The more detailed you are able to answer the above questions, the more efficient your marketing audit will be, so here is a free tip – take your time and find all possible details that may help you and your business.
Now that you have all client information, the next step is to understand your products and services. The more features and properties the product has – the larger the marketing audit report.
- Set the full list of products and services you provide and all their properties and features Visual identity and design.
- Does your product have a unique brand style? Is the product customized somehow and it differs from everything else?
- Do you have a unique selling proposition or slogan? If yes – name it
- Identify the product’s advantages compared to other similar products
- Product’s purpose. Does your product serve a purpose? If yes, describe it
- Do you produce your product by yourself or just resell it?
- How can you save money in producing, managing, and selling your product?
- Do you use the latest or up-to-date technology in product development?
- Have you performed a sales analysis? If yes, describe it
Next after figuring out with products, come sales. Identifying and analyzing all aspects of the sale process can help the business progress. So, here are the sales-related questions you should ask yourself:
- How do you search for your clients?
- Do you use a sales script?
- Have you ever analyzed your/your sales manager’s work? If yes, describe
- How often do you answer customers’ calls and questions?
- Do you consider the client approach is correct, calm, and friendly?
#4 Work with clients
Besides understanding who is your client and target audience, it is also important to understand the entire process of working with them. At some point, business owners find out that they could’ve done more to attract them, or to convert visitors into customers.
So, here are the questions that would change your mind when talking about the interaction between your business and customers:
- What other benefits your customers have besides owning the product they purchase?
- How do you make your customers return to you for another product or service?
- Do you have a set of rules and principles when interacting with customers?
- Do they like other products of yours, or they come only for one?
- How much money do they spend on average?
- Is there anything that would make a client go, or choose another product from the same segment? Why?
Pricing impacts marketing big time. There is marketing for big prices and marketing for small prices. You can’t expect having great results when setting incorrect pricing for your products and services. This is why, we have prepared the next set of questions to ask yourself, and these are all related to the pricing:
- Name the prices for your products. How is the price set and what it is made of? Define a clear structure of your prices.
- How flexible your price can go? What are the minimum and maximum prices for your products?
- Are the prices the same for all customers or there are some preferential prices for special clients? Why?
- What kind of payment systems your business has integrated so far? Do you plan to add or remove some? Why?
- Does your business have special promotions on holidays or other special occasions? Why?
- Does your pricing policy depend on the period of time or other important factors?
Knowing the market is as important as knowing your products and clients. Your business has to be up to date with trends and competition – otherwise, you risk losing customers. Big companies, technologies, and innovation usually set the trend waves, so following them can give a big boost to your company progress and sales. Here is a list of questions related to the market that can help you with the marketing audit:
- How do you sell your products (Shops, eCommerce, network)? Have you thought about trying other alternatives? Why?
- Do you provide delivery services? If yes, under what circumstances?
- How does your selling platform look like compared to other marketplaces?
- How are the visitors welcomed by your business, compared to competitors?
- Is your business up-to-date with the latest trends and tendencies?
- Have you used something innovative in the process of selling your products or services? If yes, why?
- Why is your business more attractive than your competitors? Could it be more attractive?
Having a good knowledge about all of the above-mentioned key-factors is important. But, promoting and being aware of your advertising possibilities is also an advantage. These are the question related to advertising and promotion
- Do you have a budget for advertising? If Yes, how much and on what channels?
- What type of advertising is more effective, according to your experience so far?
- Does your business have a loyalty program? Why?
- What discounts you made so far, and why?
- Analyze all online resources where your business is present. Would you buy products or services from them?
- Does your business have a mobile app? Why?
- Does your business use email marketing?
- Are there any related products or services attached to other products you sell?
- How do you convert your visitors into customers?