How to Conduct a Marketing Audit to Shape your Digital Marketing Strategy



One of the secrets of any digital marketing consultant’s success is how it is processed, developed, and presented to the market, plus its capacity to stand out and stay in the market. Despite having abundant resources, the best of staff and employees with the right skills and attitude, everything will be useless without an appropriate marketing strategy that will serve as the anchor of the business. However, any marketing strategy will be needing a mechanism to assess if every strategy can obtain the expected outcomes. This is where the marketing audit comes in.

The Dynamics of Marketing Audit

As defined by the Business Jargons, marketing audit is "comprehensive, systematic, analysis, evaluation and the interpretation of the business marketing environment, both internal and external, its goals, objectives, strategies, principles to ascertain the areas of problems and opportunities and to recommend a plan of action to enhance the firm's marketing performance". It helps a business to assess the resources and activities based on the marketing conditions and use the results analyzed to guide the business in the planning process. This shows that establishing marketing strategies is impossible to do without having a marketing review first. This can be made by the members of the company's organization, assisted by the people under the marketing team and external marketing auditors and consultants if needed. Moreover, despite that this is recommended to do before the planning process, it doesn't mean it has to be done during that time. Marketing audits must be done regularly, even during the planning part.

Why Marketing Audit is Essential in any Business

Besides being an important tool in achieving the company's success, here are some of the benefits an organization can have in doing a marketing assessment:

  • A marketing assessment helps a company see the deeper perspective of the business' marketing activities, particularly how it is planned, executed, and accomplished.

  • A marketing review helps to identify its strengths and weaknesses, along with the threats and opportunities.

  • Through the systematic and organized approaches an audit possesses, it helps to make marketing strategies easier to implement.

  • An audit helps the business to correct the errors, miscalculations, and other mistakes have done before worse damages occur.

The overall performance of the audit relies on the functions of the management, especially those that are in charge of the decision-making tasks in the marketing part. The decisions made in connection to the marketing activities will be based on the results of the marketing review.


Components of the Marketing Audit

There are seven types of marketing audits, divided into three main components, which are: external environment, internal environment, and the company's existing marketing strategies.

A. EXTERNAL ENVIRONMENT

1. Macro-environment audit- these refer to the external factors that can affect the company's performance on the marketing part. a. Demographic- the age, gender, employment status, among others, of the consumers in the market b. Economic- interest rates, inflation levels, and taxation policies c. Environmental- existing technologies and systems in the placed. Cultural- the lifestyle practices, beliefs, traditions, and customs of the consumers and its effect on the consumerism d. Political- leadership stability and the state of political affairs in the country can also affect the economy in the place and must be considered 2. Task environment audit- these pertain to matters outside of the organization but still can bring impact and effect on the marketing strategies and operations. a. The company's distinct features- the industry that it belongs, dissection type, the way it is targeted and positioned, and the adherence of the company are determined b. The consumers-their behaviors and what influences their decisions to buy and consume are recognized. Also, it assesses the company's ability to meet and satisfy the needs and wants of the consumers c. The company's competitors- their total account and their concentration, and the competitive landscape perspectives like their growth and prof