Often referred to as desk research – or discovery – a brand audit is an essential process. In fact, it’s a priority exercise to ensure sales & marketing alignment for construction product manufacturers. What’s more, the opportunity is rapidly evolving with the integration of AI… allowing for even greater speed.
And efficiency.
A brand audit is a series of activities that examine an industry channel and a business unit’s sales and profitability. The mission includes a review of the current brand and marketing materials. As well as customer demographics.
Followed by of course, the competitive landscape.
This detailed analysis helps define marketing objectives.
While uncovering hidden opportunities.
The process also identifies potential threats and challenges… enabling proactive solutions. It establishes a baseline to set realistic goals and track progress over time. Ultimately enhancing marketing communications and brand effectiveness. The key business value lies in maximizing the return-on-marketing investment.
The Benefits of a Brand Audit
A brand audit ensures that every member of a fully aligned sales & marketing communications team is poised with critical information. It provides a clear understanding of goals and audiences.
Strengths and weaknesses.
As well as the brand’s position relative to its competitive landscape.
The audit analyzes key metrics and indicators that reflect a brand’s ability to succeed. Perhaps this is why the assessment often defines “brand health”. While it’s not a medical diagnosis, neglecting a brand audit can have detrimental effects on a business. Forging ahead without a proper assessment can lead to misdirected efforts.
Inefficient marketing investments.
And messaging… that simply doesn’t resonate.
One of the priorities of a brand audit is an Awareness, Attitudes and Usage study (AAU). Providing a clear picture of brand performance over time – tracking indicators such as brand awareness – market share and brand associations. Ultimately, focusing sales & marketing teams to better understand how their “promise” is perceived.
And how the brand is performing in the market.
Getting Started on a Successful Brand Audit
Consider these six “best practices” development milestones:
- First, review the business – and define marketing objectives – that support sales or profitability goals. This step will prompt a discussion about prioritizing brand awareness. Versus customer retention.
- Second, assess current brand health measures including awareness, usage and attribute association… compared to competitors. This establishes a baseline. For measuring future effectiveness.
- Third, compile available research on which audiences typically buy the brand – to help in creating demographic and psychological profiles – of prospects. Consider sales data, ratings and reviews. As well as industry reports. For firms focused on builder products… this means understanding trends in construction. And buyer preferences.
- Fourth, audit existing marketing materials and apply their delivery milestones to the buyer journey – identifying gaps – and areas for improvement. For instance, a company with high awareness but low usage might focus on database marketing… to increase sales to existing customers. For those new to the market: efforts will focus on brand awareness, education and media relations. Understanding these nuances is crucial for impactful building material sales.
- Fifth, thoroughly review the competition – understanding how customers perceive those channel solutions – while identifying potential opportunities.
- Finally, conduct an environment scan… examining industry trends, trade journal reviews and trade show news. For brands in building materials marketing, this means staying ahead of changes in housing markets, interest rates and technological advancements.
More than a Beginning
A brand audit is not merely a starting point.
Rather, it’s a strategic advantage.
By assessing a brand’s current standing, sales & marketing teams can gain the clarity needed to shape their future with confidence.
After all – without a map – every path will look the same.
It’s always possible to move forward… but not necessarily in the right direction.
Perhaps we can begin with a brand audit assignment together. It’s never too late to build a strong foundation for the future. Reach out to Steve Kleber at sk@kleberandassociates.com to learn more.
