What is a marketing audit? A marketing audit is a systematic, comprehensive review of a business’ marketing plan, including strategy, objectives, previous efforts and digital properties. The overall goal of the audit is to analyze current marketing strategies to determine if the marketing plan is optimized for the greatest return on investment. It is highly recommended that marketing audits are performed by an independent, third-party marketing auditor. At My Marketing Auditors, we work closely with the client to review all current marketing efforts to determine if the marketing plan is implemented properly, and to determine if there is any room for improvement.
Marketing audits are a science-based endeavor that utilizes research and data-analysis methods to derive at data-supported conclusions. When done correctly, marketing audits can be a very useful tool, however, it must be based on sound market research. At My Marketing Auditors, we pull from consumer psychology and research-based backgrounds to provide systematic, data-driven audits of your marketing efforts. Our audits are grounded in scientific methods and formal market research training and we understand the science of marketing.
6 Components Of The Audit
- Marketing Environment (macro and micro) – Macroenvironments include all of the large-scale forces that affect your business, including economic, technological, political, socio-cultural, and demographic factors. Microenvironment is the task environment in which the marketing organization intimately operates. This includes marketers, customers, competitors, and sales funnels.
- Marketing Strategy – Review of your marketing strategies to determine if they are appropriate given the findings of the marketing environment audit.
- Marketing Organization – Analyzes the effectiveness of the marketing and sales team. It evaluates their core competencies to determine what their strengths are and where they need additional training.
- Marketing Systems – Examines the different systems of marketing and actual procedures of those systems. This includes sales forecasting, quota setting, marketing planning, purchase funnels, distribution. This step will reveal if marketing is being done with proper planning, implementation and control.
- Marketing Productivity – Also known as a marketing cost analysis or a budget allocation audit. This step analyzes where the is providing the best return on investment. It determines where the budget can be trimmed and where it can be reallocated. At this point, areas of weakness may come to light, at which point you perform marketing function audits which are more in-depth evaluations of areas of weakness.
- Marketing Functions – Examines key marketing functions more in-depth. For instance, if it was discovered that one of your marketing systems is not performing optimally, it is here that you take a closer look at its functioning.
A Client-Based Service
At My Marketing Auditors, we pull from industry-insider knowledge and experience to deliver systematic and comprehensive marketing audits to our clients. We realize that navigating the marketing industry can be an overwhelming task and our audits are designed with the small business owner in mind. The My Marketing Auditors team will walk you, step by step through your marketing plan and offer marketing recommendations that are aimed at enhancing your marketing efforts and maximizing your return on investment.
Additional Marketing Audit Services Include:
About My Marketing Auditors – Marketing Audit Los Angeles
The marketing auditor team at My Marketing Auditors is an established part of the Los Angeles marketing community. We offer a premium service that is aimed at helping local businesses maximize their return on investment. Our goal is to establish a standard of excellence in the marketing industry to ensure that every business receives the proper marketing services and our marketing audits are aimed to do just that. To learn more about My Marketing Auditors, please contact us today.