What is a Brand Audit?
In layman’s terms, a brand audit is a thorough analysis of a brand’s current position in the market compared to its competitors. At Forever, our brand audits help our clients define their brand and optimise their brand strategy. We measure the effectiveness of your brand campaign to help you determine the strength of your brand. A brand audit flags up where your brand’s weaknesses might be, and highlights any inconsistencies in your brand and brand message.
Why do I need a Brand Audit?
Auditing your brand and reviewing it allows you to identify any issues which may be holding your back. A brand audit presents opportunities for improvement and new developments. Whether it’s a new brand or an established brand – every company can benefit from a brand review.
The stronger your brand, the more profitable you will become and the higher company value will increase. A brand audit will enhance your brand, which in turn will allow you ensure customer preference in buying decisions, build a strong customer loyalty base and fend off your competition.
When do I need a Brand Audit?
Most brand reviews take place when a company makes a change within their organisation, such as a rebranding. This would the perfect time to take a look at your current brand and see where it has shifted since its inception. Even if you’re not planning a rebrand, an audit can be hugely beneficial.
Taking the time to assess how your current brand’s performance positions you in the market allows you to expand, grow and improve. A brand audit is also important for a new company with a fresh brand, to ensure your message and identity is concrete.
What do we do when we complete a brand audit?
We start by taking a look at your company goals and success so far, before examining the wider landscape to gauge how you are performing competitively in your market. While each brand audit will differ slightly based on your sector, the basic principles apply. We will examine your internal and external branding: your positioning, voice, brand values, culture, USP, and product.
We will establish your core strengths and weaknesses and formulate a plan to align your strategy more closely with the expectations and desires of your customers. We will review all of you external branding, including your logo and other brand elements, website, advertising, SEO, social media, sponsorships, event displays, news and PR and content marketing.
In short, a brand audit reveals how the customer perceives your brand, how your brand compares to your competitors and how your brand is performing. We tailor your brand audit specifically to your requirements, business goals, timelines and resource, allowing you to make informed choices to enhance your business and increase your profits.