The Complete Guide to Performing Brand Audit?
Brand Audit is an important brand term in corporate governance. This is a detailed evaluation and analysis process to check the current position of the business compared to the market. From there create strategies for future growth based on market opportunities. Measures to overcome the weaknesses of the brand. As well as declaring other competitive advantages compared to competitors.
What Is The Purpose of Brand Audit?
The reason behind a brand audit is to increase an essential comprehension of where your brand remains in its present state.
Factors of Brand Audit
- Detailed analysis of internal branding factors of the enterprise.
- Detailed analysis based on business figures, brand positioning value.
- A detailed evaluation of competitors’ strengths and weaknesses.
- An assessment of market opportunities in the long-term vision.
- The proposal for solutions to overcome brand weaknesses.
Understanding where the brand is located in the marketplace is the main goal towards. Brand audit – brand audit is also applied in case of need of repositioning, refreshing, changing brands. To get the most overview, it helps to save resources for deployment. Giving lasting effect to the brand image.
How Does Brand Audit Help Businesses?
Comprehensive Brand Identity Assessment
Every corner of the brand identity issue will be evaluated effectively. The application to where and have brought true effect or not. Even meeting the cultural and market factors are mentioned. All for the purpose of providing positioning solutions to identify most generally. Brand audit – Brand audit will help businesses solve this problem.
Assessing The Effectiveness of Communication
This is really a difficult problem because most businesses are only good at management. Brand audit – Brand audits will help businesses solve this problem. All are listed in reports based on the real numbers. From there give out appropriate communication strategies for the current market.
Research Target Customers, Behaviors and Consumption Trends
The target audience is not simply in thinking. It must be parameters evaluated based on technology platforms. Based on actual behavioral trends according to market factors are trending.
This is probably the most difficult process in brand audit. Requires professionals to have an insight Insight about the industry truly understand. The analysis must also be based on facts about the multidimensional market affecting competitors. Usually we only evaluate up to 60% of the competitor criteria.
Research and Expand The Industry in The FutureLong-term strategy to help businesses grow in the most sustainable way. Helping financial resources will be allocated reasonably and effectively for the future. Helping businesses will see development opportunities for worthy investment.
Which Part Of The Business Does The Brand Audit Apply?
Brand Audit Process – brand audit helps support almost every part of a business.
- Communication department
- Customer care department
- Market research department
- Strategy and development department
- Executive board of the business
Factors Affecting The Brand Audit Process
Internal Factors of the brand, in the Process of Brand audit.
- Profile of brand identity
- Logo, Slogan, brand characters.
- Principles of using brand image.
- Graphic brand-specific application process.
- Brand performance of HR.
External Factors in Branding, in the Process of Brand Audit
- Expenses affecting communication activities.
- The costs affect the psychology and motivation of the staff.
- The properties of premises, transportation costs.
- The advantages of sales channels, celebrities.
- Risks of transportation and inventory.
- Standard plan.
- Evaluation of the market and customers about products and brands.
Importance of Brand Audit
The role of Brand audit – brand audit is particularly important. Help optimize funding, increase current profits, sustainable development. The simplest of the audit process will help businesses solve the following questions:
- What are the factors that make customers come to your products?
- What are the factors that make customers loyal to the products and services?
- What will the market trend look like in the next 5 years?
- What are the strengths, weaknesses, redundancies, and additions of the brand identity system?
- How do human resources complete and grow beyond expectations?
- What does society and the market expect from your business?
Brand audit helps businesses solve all of the above problems. Is an important factor to find the difference compared to competitor. Help the company rebuild the brand image from the moral values, beliefs. Help awaken old management thinking to a bright future.
8 Process Steps to Perform Brand Audit – Brand Audit
Step 1. Research and Analyze Brand Intrinsic Factors
In this step, experts will provide the enterprise with assessments. The job of the business is simply to send all the personnel and perform the evaluation. The system assesses about 10 content sets and 100 multiple choice forms that are specifically assigned to each relevant work division:
- Board of Management: Assessments of the level of understanding of brand management, communication.
- Communication Board: Channel checklists, communication effectiveness, design, creativity.
- Product Committee: Evaluations on effectiveness of luggage management, import and export process.
- Customer Department: evaluations of customer care performance, personnel criteria.
- Other departments involved.
Step 2. Identify and Analyze Competitors, Target Customers
Competitors are determined based on brand similarities. Usually divided into 3 main groups: low competition, similar competition, and dominant advantage. For each group there will be an analysis to see the competitor’s reward. Up market problems and solutions to overcome competitors.
Target Customers: This is also an important goal usually based on 2 analysis groups.
Group 1 is based on the file the old customers have been using the service: Re-analyzing the criteria of geography, interests, behavior, satisfaction and suggestions.
New Potential File Group: this is probably the part of business that cares the most. Currently, the methods of evaluation are mainly based on the digitization of artificial intelligence. The traditional methods applied are mainly for verification and verification.
Step 3. Re-Check the Criteria of Goods and Distribution Channels
This is probably the strength of long-term businesses. Circulation and storage issues must have a clear strategy, avoiding dead capital flow. Distribution channels must also be realistic and forward looking. The most important thing is that businesses must think independently to grow.
Step 4. Analyze The Technology Platform System
Technology trends require all businesses to transform themselves to capture them. This is also a 2-blade delivery that can kill businesses at any time. Therefore, analyzing and giving appropriate solutions in stages is very important. A platform system is only suitable when it is designed in stages.
Step 5. Review The Dependent Communication Systems
Simply put, this is the process of reviewing social networking platforms. Information channels about celebrities, industry representatives. The main objective is to devise communication crisis management strategies.
Step 6. Human Resource Analysis
The personnel evaluation process is not just about business and adaptability. Here is also an analysis of personality, human psychology. From there, there will be the most appropriate reallocation to bring into full play its capacity.
Step 7. Analysis and Solution
Based on all studies will be aggregated into 1 link chart. The graph is a representation of the movement of work groups. The key evaluation index. The index of the range and level of interaction. Going to work is a report document and provides enforcement solutions to change the problem.
Step 8. Symmetry Table and Evaluate Application Effectiveness
This is the process of measuring analytical analysis based on multidimensional evaluation. Is the process of closely combining professionals and businesses. To determine the position of brands in the market and from the customer’s perspective. Evaluate effectiveness based on the level of customer waiting for the brand.
You Understand Brand Audit – Already?
The market today shows too much competition and fierce. The speed of competition is much faster than the process of researching new products. Requires brands to always struggle to gain market share. The core personnel problem must always be volatile because of the market. Take action today to reflect on your brand in the most profound way. Brand audit will prepare the brand for a positive and powerful energy source. To be ready to face all the difficulties in the marketplace.