Branding is considered the most valuable asset for many companies out there. However, there are times that a brand’s identity needs to be evaluated to know whether there are changes that can be made. It’s perfectly normal for many companies to do a brand audit at some point in their existence.
What is a brand audit?
A brand audit refers to an in-depth examination of your brand. It can help you identify aspects that need improvement, and your current position in the market. Brand development is continuous, and doing a brand audit is one way to analyze data that can determine ways to elevate your business image. For example, a pulse check to know whether the efforts in building your brand are paying off.
You can look at a brand audit through its two main pillars:
* External branding determines the way a company can communicate its promises to customers.
* Internal branding gives employees the required tools and resources to fulfill a company’s promise to its customers.
6-Step Guide to Performing a Brand Audit
Here are six steps that can guide you in doing the necessary steps for conducting a brand analysis. In other words, checking in with your brand’s overall health.
- Set up a brand audit framework
A brand analysis template can be a guide in the process of a brand audit. So the crucial first step involves building a framework on how it will be conducted that you can define with a checklist of what needs to be examined and the methods that will be used.
- Examine your website analytics
Website analytics can help determine whether it is converting or serving your target customers in the way that it should. Analytics provide rich data about a website’s performance both in real-time and its past interactions.
- Analyze your sales stats
As part of your brand audit, sales statistics can give insights on trends in the industry and customer buying patterns. Sales statistics is where you’ll notice whether your brand has fulfilled its promise of delivering what the customers want.
- Dive into your social data
Social media is rich with information about your customers that you cannot find anywhere else. Surely, there are instances that your target customers may not be the customers that interact with your social media platforms. Evaluating demographic data in social media can help you understand your audience and rethink the social communication strategies that you utilize.
- Observe your competitors
Getting a complete look at the competitive landscape in the market requires you to see and analyze how well your competitors are performing based on a brand perspective.
- Get answers from your customers
Feedback from the customers is essential in figuring out what influences their decisions. Polls, surveys, and the Net Promoter Score (NPS) are some of the tools that can help you obtain valuable customer information for your brand analysis.