A complete check-up of a particular brand’s particular position in various markets in comparison with its competitors is defined as a brand audit. Brand audit refers to a review of the effectiveness of the brand, which helps you determine the strength of the brand along with its weaknesses and reasons for unpredictabilities. It gives ideas and opportunities for the improvement and latest developments. A business is able to recognize its strengths and weaknesses with the help of brand audits, create opportunities for improvement, and also gives new ways to help the business stay relevant.
11+ Brand Audit Templates in DOC | PDF
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2. Brand Audit Checklist Template
3. Brand Audit Questionnaire Template
4. Brand Vision Audit Template
5. Conducting a Brand Audit Template
6. Pepsi Brand Audit Template
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10. Stakeholders Brand Audit Report Template
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12. Brand Audit Template in DOC
6 Steps to Conduct a Brand Audit
Step 1: Talk to Your Audiences
Set up some standard questions that you would want an answer for, post those questions online for your audience to answer. You can also make use of your website or social media, or even call your consumers and ask these questions. Doing this will bring you closer to the audience and also help you understand their expectations and also flaws in your brand. Make sure that you talk to both the current generation as well as the future generation as they are going to be your prospect consumers.
Step 2: Talk to Your Employees
You will get an idea about the issues that your employees have been facing and how they and the management both work over these issues. There might be some employees that have been taken from your competitors who may help you and give some suggestions in making your brand better. You can also make sure that you have a set of questions ready to be asked and also ask them for inputs and suggestions at the end that can help the brand do better.
Step 3: Research Your Competitors
Your competitors are the main reason why your brand requires an audit. You need to know the position of your competitors in the market and their secret of being there. Try to get complete information about your competitors which you can get from your distributors and also your consumers. You can either directly question them or just set up a list of questions and post them on your websites and social media.
Step 4: Analyze Your Position
A brand audit will help you know where you stand as a brand amongst your competitors and also amongst your audiences. It is important to know your place so that you know the ways to work towards creating a successful brand name. Having a successful brand name will surely give you good sales, customer loyalty and customer preference for choosing your product over your competitors. This will increase your sales.
Step 5: Recognize Your Identity
Knowing your brand identity is very important as it determines the position of your brand in the market. You must know what is your brand known as and to understand where does it stands in the market. In the market, the product matters, and if the product is backed by a strong brand name, then its sales will increase considerably.
Step 6: Find Out the Negative and Positive Points
A brand audit focuses on both the positive and negative points of a brand. A brand audit is not only conducted to find out the issues a product is facing in its sales but also to know the position of the brand in the market. It is the best way to reach the consumers by remembering the positive points but you must also take the negative feedbacks positively to work it and to create a better product and a better brand.
Why Should You Audit Your Brand?
The motive of a brand audit is to discover how your business is performing in front of your computers. It helps you to determine the position of your business and in planning corrective strategies. Audit brands empower you to discover the strengths and weaknesses of your business and guides you to align your work more accurately. It also enables you to get up to speed with both positive or negative perceptions about your business.
Reasons for Carrying Out a Brand Audit
- A proper brand audit gives you a complete report about the current position of your business and where it is heading to. This may include rankings on search, how you stand against your competitors, and engagement on social media. It also helps in drawing up a new strategy to enhance an online brand.
- A brand audit shows the strengths or weaknesses of your overall branding techniques. It also helps you in knowing if your weaknesses are taking a toll on your business and conversion rate is declining.
- Your brand audit will help you and business in meeting the needs of your prospects. Your prospects may look for some information, products, or some other services online. A brand audit will help you know exactly what drives their decisions to turn them into your customers.
- It helps in understanding the perception of your audience about your brand. It helps in understanding how your brand is being received by your prospects. You will be able to know the problem points within your business and sort them out by auditing your brand.
When to Use an Audit Brand?
Various businesses go through the process of auditing their brand when they have invested interest in making a change within their organization. They might just be rebranding or refreshing their current look or some procedures so this might be a perfect time to take a look at your current brand. This may provide an opportunity to judge what their brand stands for, what they need to do, who they are as a company, and fix the internal problems or issues if there are any.