What is a Marketing Audit and Analysis and Why are They Important for Growth?

Foley Marketing AdvisorsMarketing Strategies and Tips

A MARKETING AUDIT is a close examination of your current strategies, tools and resources pertaining to sales, marketing and customer services.  It seeks answers to questions such as:

  • What are the strengths and unique qualities of your business?
  • Who are your customers, how loyal are they and what do they value most?
  • What are  your best selling products or services?
  • What marketing-related strategies have you implemented in the past and what were the results?
  • What are your current strategies to attract new business (e.g. website, social media, blog, newsletter, advertising, press releases, email campaigns, etc…)?
  • Who is your competition and what kinds of marketing activities do they engage in?

Once you’ve gathered all of the important information, the next step is a MARKETING ANALYSIS.  At this stage a detailed evaluation of the “answers” gathered from the AUDIT would be conducted.  The goals for the analysis are to define and isolate areas of strengths and weaknesses of the current marketing strategies, tools and resources and determine if new ones are required or if the current ones should be refined and enhanced.

From the MARKETING ANALYSIS you can then create your MARKETING OBJECTIVES.  In my next blog installment (next Tuesday 12/16) I will discuss MARKETING OBJECTIVES.  To ensure you are up-to-date on everything you need to know about how to grow your business, subscribe to my blog for marketing tips and strategies for growth.  And if you ever have a question, please feel free to ask…There’s never any cost for that!   To read me via email:  dfoley@foleymarketingadvisors.com  or visit our website at:  www.foleymarketingadvisors.com

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