An audit is a thorough assessment on your company’s position in the market with recommendations for improvement (if necessary). Audits can be performed on brands, websites, marketing strategies, or all of the above.
You will receive a document or presentation establishing your company’s strengths, weaknesses, and recommended opportunities for improvement. The length or depth of the document will vary based on the extent of the audit required.
An audit is the first step in developing a strategy, which means your dollars will be spent wisely. A strategy will dictate where to focus your budget to get the greatest impact. It can also segment your course of action into phases so it is not as big of an expense right out of the gate.
Compare these two scenarios:
Hank’s Hot Dog Stand has had poor sales. He comes to an agency to get a new logo to put his business on track. Despite a great new logo, his business still flops and he doesn’t know why.
Hank’s Hot Dog Stand has had poor sales. An audit determined that he parked his cart in a vegetarian neighbourhood and only 60% of the world’s population likes hot dogs. Rather than spending money on a new logo, he relocates his cart to an appropriate neighbourhood. He reallocates his logo budget into diversifying into veggie dogs and nachos.
The most effective audits are performed by someone outside of your organization because it provides a true “outside” look at your company. People are more likely to provide honest feedback and constructive criticism to a third party. As such, if your audit involves interviewing stakeholders or clients, this is best left to someone outside of the organization.
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