Not sure if it’s time for a brand audit? Here’s what to look for.
A brand audit can be a powerful tool to combat change. The world is constantly changing, and brands that don’t change with it run the risk of getting left behind.
Most companies know this, yet many wait to take a hard look in the mirror until they find themselves in a near-catastrophic situation. We’ve seen it firsthand too many times.
The good news? A brand audit is a strategic lever you can pull to keep tabs on how your brand is perceived, experienced, and positioned for the future. In a world of constant change, it can help you make educated decisions about evolving your brand strategy.
So, when should you be proactive with a professional brand audit – especially as a large organization with a lot on the line? Let’s start with a quick review of the benefits.
What a brand audit can do for you.
Your brand is more than a logo, name, or color palette. It’s more than a clever campaign. The real power of your brand lies in its ability to shape audience perceptions, securing your position as the right choice both today and tomorrow.
A professional brand audit can help strengthen your business in many ways, including;
Future-proofing sales
The business landscape is dynamic, with rapid technological advances and shifting consumer preferences. A brand audit can help your organization anticipate and adapt to these changes, so you can stay relevant and competitive.
Deepening customer connections
Customer needs and expectations are changing all the time. A brand audit can shed light on customer sentiments and behaviors, equipping you to fine-tune your brand strategies and strengthen customer loyalty.
Aligning with core values
Brands that stay true to their core values tend to build stronger connections with internal and external audiences. A brand audit can help realign your foundational values, maximizing your impact across all major touchpoints.
Six scenarios that demand a brand audit.
Unlike an annual health check-up, there are no best practices for brand-audit frequency. That said, here are six scenarios that demand you be proactive:
- Planning a strategic pivot: Whether you’re entering a new market or refocusing your business, a brand audit can help prepare you for the shift.
- Declining brand awareness: If your brand isn’t as recognizable or influential as it used to be, it’s time to uncover the reasons and refresh your brand strategy.
- Inconsistent brand messaging: If you’re messaging is fragmented, it’s time to bring clarity, consistency, and cohesion to your channels. Start with a brand audit.
- Evolving customer preferences: Realigning your brand to meet your customers where they are is yet another critical driver for a brand audit.
- Preparing for growth: If you’re setting ambitious growth goals, a brand audit can extract the insights you need to scale effectively and sustainably.
- Technological advancements: Digital trends change by the minute. A brand audit can help you determine how to leverage new technologies.
Do brand audits really work?
Your brand is like any part of your business: it requires upkeep. And maybe that upkeep isn’t necessary today, but if the data tells us anything, a brand audit can be a catalyst for significant results. Here are some points to keep in mind:
- Competitive advantage: Businesses that leverage brand audits to stay ahead of market trends outperform competitors by 29% in customer loyalty and market share.
- Revenue growth: Companies focusing on customer experience and innovation report 80% higher revenue growth compared to those that don’t.
- Customer loyalty: Brands that innovate based on customer feedback see a 33% increase in customer satisfaction; 32% in cross-selling and up-selling.
- Customer experience: 86% of consumers say they’d abandon a brand after as few as two poor experiences, highlighting the importance of consistently meeting customer expectations.
- Personalization and loyalty: 60% of consumers become repeat buyers after a personalized purchasing experience; emphasizing the need to understand your customers and cater to their unique needs.
The bottom line.
A brand audit can help you keep your finger on the pulse of your company’s strengths, weaknesses, and opportunities – and how you’re perceived by customers and stakeholders. It can be your secret weapon in safeguarding customer loyalty. But you probably shouldn’t do it alone.
If you’re part of an internal marketing team, for example, it can be difficult to examine your brand through an unbiased lens. When you live and breathe your brand, you tend to be too close to it, and sometimes even hindered by other barriers like internal politics or professional self-limiting.
When you’re going to take a strategic step forward, it pays to have a strategic partner. Our team of objective, proven professionals can guide you through the audit process to maximize results.
Ready to get started? We’re always ready to help.
