Brand Audit

Contents

• What is a brand audit?
• Goals of a brand audit
• When to conduct an audit?
• Stages of conducting an audit
• Internal audit
• External audit
• Who conducts a brand audit?

What is a brand audit?

A brand audit is a comprehensive analysis and evaluation of various parameters and characteristics of a brand aimed at determining its current state and position in the market. This process includes examining values and communication methods, target audience, competitive environment, and market dynamics. An audit helps a company understand where it currently stands, formulate new goals, and identify ways to achieve them.

An example of practical application of an audit is the redesign of packaging for KFC, carried out by marketers from the Depot agency. During the audit, it was discovered how the brand is perceived by the audience and how recognizable it is. The new positioning strategy focused on emotions and consistent quality, which was reflected in the depiction of Colonel Sanders on the packaging.

Goals of a brand audit

An audit can be conducted for the entire company or for individual brands. A comprehensive brand analysis allows for:

• Assessing the current market position and competitiveness.
• Understanding how the target audience perceives the brand.
• Improving marketing strategy and identifying development opportunities.
• Identifying mistakes in brand management and potential threats.
• Increasing the effectiveness of advertising and communications.
• Improving service and increasing customer satisfaction.

When to conduct an audit?

A brand audit can be conducted both regularly and as a one-time event, depending on the specific task. The frequency of audits depends on the dynamics of changes within the company and the industry. The main signs indicating the need for an audit are:

• Declining sales and unsatisfactory financial performance.
• Decreasing market share and low customer loyalty.
• Reputation issues and negative reviews.
• The emergence of a new competitor in the same segment.
• Launching a new product line.
• Changing marketing strategy or rebranding.

Stages of conducting an audit

The audit process does not have a single standard; however, five key stages are usually identified:

1. Setting goals — defining the main issues and tasks of the audit.
2. Preparation — developing a work plan and research methods.
3. Data collection and systematization — conducting field studies and surveys.
4. Analyzing results — applying statistical methods to process data.
5. Report formation — compiling a report with recommendations and strategy.

Internal audit

The internal audit includes analyzing processes within the company and may cover the following aspects:

• Identifying company values through interviews with management.
• Assessing employee loyalty and their understanding of brand values.
• Evaluating image and reputation through analysis of reviews and mentions online.
• Analyzing brand communications by assessing all information carriers.
• Analyzing strengths and weaknesses using SWOT analysis.
• Analyzing financial and marketing metrics.

External audit

The external audit focuses on market analysis and includes:

• Market analysis — assessing volume, demand level, and competition.
• Competitor analysis — creating a positioning map and evaluating their strategies.
• Consumer analysis — creating a profile of the target audience and studying their motivations.

Who conducts a brand audit?

In small companies, the audit may be conducted by a marketer together with the team; however, in larger brands, independent experts or branding agencies are often engaged. This is due to the need for an objective assessment that specialists with extensive experience and established working algorithms can provide. Objectivity and independence of the audit results play a key role in making decisions about the further development of the brand.