Every company wants nothing but the best for its business. That is why each company needs to have a marketing audit to monitor its strategies and development. However, conducting and making a marketing audit report isn’t simple and easy. It needs to gather enough information, teamwork and brainstorming to make it possible. Luckily, you can now do it easily by having our downloadable marketing audit templates. They are easy to use and edit. Read this whole article to know more.
FREE 10+ Marketing Audit Samples
1. Marketing Audit Report Template
2. Marketing Audit Template
3. Sample Internal Marketing Audit
4. Sample Marketing Strategy Audit
5. Email Marketing Audit Template
6. Marketing Audit Report
7. Marketing Audit Form Template
8. Digital Marketing Audit Format
9. Internal & External Marketing Audit
10. Marketing Audit Sample
11. Basic Marketing Audit Template
What Is a Marketing Audit?
A marketing audit is a review of your marketing plan, visions and objectives, strategies, and activities that take place within your business. The marketing audit aims to see what is working and what isn’t. That can help you identify which area needs improvement. It is similar to a marketing evaluation that identifies and eliminates all ineffective measures that can put a business down. Successful marketing audits will help you identify your marketing strengths and weaknesses so that you can make sound choices on where to put your resources.
How to Conduct a Marketing Audit?
A successful marketing audit is not an excuse to congratulate yourself for a great strategy that remains true to your brand promise. It is also not a way for you to beat yourself up for all the work you have done wrong. Understanding how to conduct a marketing audit means paying attention to and using all the data you collect from consumer interactions every day to your advantage. Here are five steps that will help you simplify your marketing audit.
1. Make a Marketing Asset Inventory
Before anything else, it is essential to make a complete list of all the marketing exercises you want to analyze during the audit. If you are conducting and executing a thorough marketing audit, you will need to collect every detail. Try doing some marketing research. You may collect data from your email newsletters to your social media notifications and your blog posts. To retain your work to a minimal level, try looking at assets primarily for the last six months or so. It will give you enough data for inventory without exhausting your team.
2. Align Your Audit With Your Objectives
Once you have done collecting inventory data, you need a reference point to measure the project’s success. Take a look at your current business objectives. Do you want to spread awareness, engage your audience, or drive higher sales? If you already know your goals and objectives, you can ask yourself questions to help you throughout your audit. Questions like: How does your marketing strategy achieve your goal? What marketing strategies need to achieve your goal, or How you can improve your marketing strategy to achieve your goals?
3. Collect Data on Your Marketing Performance
After aligning your audit with your marketing goals and objectives, you have to gather as much data and information about your organization’s marketing performance as possible. It is because it is one of the important parts of the audit. Look for ways to compute the return on investment for each of the major marketing platforms you’d like to address in your marketing audit. Remember, sales are not the only conversions that influence value for your business. An efficient marketing strategy might not push a lot of direct sales, but this might promote better word of mouth advertising and social presence, giving you a better brand reach.
4. Compare and Analyze Your Results to Your Objectives
Once done, you are now ready to identify if your objectives are enough to continue or increase your marketing investment. It is a tricky part. It is safe to assume that a marketing strategy that does not live up to your goals will fail. However, there is also a possibility that you might set your objectives too high. Comparing your results to your goals and your competitors can guarantee you are realistic with your marketing strategies. While you can’t monitor every piece of information about your competing companies, like their bound rate, you can make some assumptions based on the information you take from analyzing their performance.
5. Adapt and Optimize
After everything, you are ready to make a change to your marketing strategy. With the marketing audit information in hand, propose adjustments improving your ROI and standardize your marketing budget. Remember, don’t carry out an audit unless you are willing to act. It is your opportunity to make sure that you use your time and resources properly – both online and offline. Work with your marketing and sales teams and any marketing audit departments you can access to plan how to use the data you have collected in an actionable manner.
What is the purpose of a marketing audit?
The purpose of a marketing audit is to enable decision-makers within a company to make decisions based on facts, data, and analysis that will support business objectives’ success.
How much does the marketing audit require?
The cost of a marketing audit depends on the size and scope of a company’s goal. However, a complete site audit can cost between $5,000 to $ $25,000. It includes the content of the inventory of the existing site.
What is the marketing plan?
The marketing plan consists of marketing strategies that a company will use to improve its business. The plan sets out its target market, the value of the brand or products, the approaches, and the metrics that will calculate the marketing plan’s effectiveness.
A comprehensive marketing audit can save your company from disastrous problems that may ruin your entire business. However, if you don’t know how to conduct a marketing audit, you can use our downloadable templates. Download it now!
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