A brand audit is very beneficial to your business because it gives you an insight into your competition and a broad overview of their positioning. It could also be the basis of the foundation for larger projects. It is beneficial for small or even big brands.
A brand audit is a detailed analysis of how your brand is doing when you compare its performance to stated business goals. It is a way to look at your strength in a different perspective. You can do this by conducting customer surveys, social audits, and analysis web analytics. Conducting a competitive audit can also be an address: how you stand in comparison to the rest of the market if your brand is missing something, and why you are choosing the same product or service from someone else.
A competitive fire audit will help you see what you have about your brand . It will also give you insights on who they are, their strategies, and what your fire may be missing out on. Assessing and understanding your competition is beneficial for any evolving market. It will also save you time and money.
Brand audits may vary depending on your business and what you want to do. There are, however, three general steps in fire audits and these are:
To have a better understanding of the brand that you are working with and its competitors, it is best to listen to the clients . Once you have an understanding of the market, Google searches, or any secondary research, you can identify emerging and competition that you know existed. You may have an idea of who your competitors are.
Deciding on what you want to focus on varies. Have answers to: what your end goal is, how this information is going to be used, before tailoring your categories to the insights that you want to gain. If you intend to change your website, you have to look into what the competition has. This may include: site layout, color patterns, the design or how to navigate the site, and what do they highlight in their posts or content.
After deciding on the comparison categories, look deeper into the competitors content. Look at your findings, based on your brand and the competition, and formulate insights that are applicable to your brand based on your assessments. See if your competition is doing things that you are not. Being aware of the content that your competitors put on social media, their website and other social marketing platform can help you in deciding where to put your resources and time. Once you have completed the audit, strengths and weaknesses that you were unaware of from the start will have appeared. You may then strengthen or adjust your strategy and persevere in doing so.