In a fast-paced world, you may feel like your business is always evolving. However, when work is so busy, it’s not always easy to ensure your brand grows with you. You may find that your branding has become tired, or perhaps is not performing in the way you want it to. For many businesses, the warning signs begin when customers have a perception of your business that is different from what you are trying to portray. In other cases, strong competition may have an edge over your brand in the market.
If these issues or concerns begin to show in your business, it may be time for a brand audit.
What is a brand audit?
A brand audit is a health check your brand. It enables you to see what’s working well and what aspects that may have been neglected. Through a brand audit, you can have a deep insight into the performance of your brand and its position in the marketplace.
With a full and in-depth investigation, you can find the issues and root causes that are not delivering for your business. This will enable you to address the problem areas and begin to put in place measures that improve your brand, excel against the competition and give it a much-needed refresh.
Why do you need a brand audit?
Every brand has a lifecycle. During which, the brand may grow at a rapid pace, and it may plateau. Usually, once the business is mature, the brand plateaus and it begins to lose its appeal and relevance. Consequently, people start to look out for the new brand on the market that delivers more.
This does not mean that you need a complete rebrand every time your business matures to a new level. Instead, a brand audit provides a check to determine whether your brand needs tweaking or refreshing in order to maintain its relevance. As long as you start with a solid brand foundation, it should be relatively easy to revitalise your brand whenever you spot the warning signs that the brand is about to dip.
This is exactly why a brand audit is so important. It is the proactive response that checks the health of your brand before it starts to decline, and you lose sales and revenue as a result.
Furthermore, a brand audit can help your business to explore untapped markets. It provides the answers you need to make your brand more appealing to the audiences you are trying to attract.
How to complete a brand audit
Firstly, you need to think about the goals of your brand. For example, you may want your brand to be an industry leader, a name that people think of, or a solution to people’s needs. You may want customers to have a particular perception, feeling or emotion when interacting with your brand. Whatever your motivations, your brand should serve, inspire and motivative your customers.
Once you know what you want to achieve, you can see where your branding may be falling short. While organisations can conduct brand audits themselves, it is often better to bring in a branding expert. When you are so attached to the brand, it is often difficult to take an objective view. A branding expert, on the other hand, will know exactly what your business needs to do in order to achieve your goals and they will be able to do this from the point of view of the customer, not the business.
When should you complete a brand audit?
Conducting an annual brand audit can help to ensure your business is always correctly positioning itself in the market. You’ll help to ensure your brand always remains on point while taking regular positive steps to continually improve brand perception.
Keep your brand power high by arranging your brand audit today with our branding experts Liquid Creativity.