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The marketing audit process helps your company analyze and evaluate your B2B marketing strategies, activities, goals and results. While the process takes time, the results can be enlightening and might:
Here are the eight steps for conducting a marketing audit to capture the information a corporate marketer needs about their company and how they do business.
1. Assemble an Overview of Your Company. The details to include are:
2. Describe Your Marketing Goals and Objectives. They can be concepts like increase company visibility, increase audience size, differentiate from competition, increase or maintain market share, generate qualified sales leads or increase usage within existing customers. List your goals and objectives as being:
3. Describe Your Current Customers. Include information like:
4. Describe Customers You’d Like to Target. Include the same type of information used in # 3 but also include:
5. Describe Your Product or Service. Describe it in terms of its purpose, features, benefits, pricing, sizing and distribution methods. Also include:
6. Describe Your Past Business or Marketing Encounters. Describe what has:
7. Identify Three to Six Competitors. Include the company name and location as well as:
8. Begin to Outline a Communication Plan. Begin to list current and future media sources as well if costs are fixed annual costs, and what funds are available for new efforts for:
Once this information is written down on paper, you can refer back to it as your roadmap to achieving your marketing goals and objects for the coming year. And as new ideas pop up, this document can help remind you of the big picture. Minor adjustments can be made along the way as changes are bound to occur in sales, customer retention and product development throughout the year.
About Nancy Rago: Nancy is vice president of design and production at Brigham & Rago Marketing Communications. Before co-founding Brigham & Rago in 1991, Nancy honed her design and production skills holding both agency and client-side positions. She holds a Bachelor of Arts in Visual Communications from Kean University. Nancy earned her CBC credential from the Business Marketing Association (BMA) and has been a member of the organization for over twenty years. A Certified Business Communicator is someone who’s passed a rigorous exam demonstrating knowledge of all aspects of business-to-business marketing communications from advertising planning and budgeting to measurement and accountability. Nancy has a passion for detail and investigation. Not surprisingly, one of her hobbies is tracing her family genealogy.
To analyse your market access following factors:
To analyse your customers access following factors:
To analyse your competition access following factors: