What is a Marketing Environment Audit?
A marketing environment audit is an audit of all internal and external environmental elements, both micro and macro that affect a business’s marketing efforts. At My Marketing Auditors, we will run a comprehensive, systematic audit of your marketing environment to determine the opportunities and threats that it presents.
When synthesizing a marketing plan, it is essential to perform a proper marketing environment audit
At My Marketing Auditors, we realize that marketing does not happen in a bubble. The marketing environment in which you operate is just as relevant as your actual marketing output. Elements such as economic environment, industry trends, competitor efforts, and customer demographics play a huge role in the success or failure of your marketing efforts. That is why we recommend a comprehensive marketing environment audit that reviews the essential elements of your marketing environment.
It is important to understand what your competitors are doing and how they are doing it. At My Marketing Auditors, we utilize industry software and our market research backgrounds to perform comprehensive competitive research. We will reverse engineer your competitors’ entire marketing strategies to look for opportunities to capitalize on their efforts and avoid their mistakes.
Industry trends can have a profound impact on the results of your marketing efforts. It is impossible to judge the success of your marketing without understanding the trends in your industry. The ignorance of industry trends can cause misinterpretation of the marketing data. At My Marketing Auditors, we will run a cross-sectional and time series analysis of industry trends to help interpret marketing data.
At My Marketing Auditors, we ask the question, “Who are our customers?” because we feel that you must know your audience before you can market to them. As part of our marketing environment research, we will perform a market segmentation study to understand your customer demographics. Understanding customer segments has a lot to do with predicting consumer behavior.
Marketing Environment Audit In Practice
Marketing environment information often offers new insights that elucidate marketing data. At My Marketing Auditors, we pull from our market research backgrounds to utilize marketing environment audits in a unique and effective way. Contact us today for more information or case studies