Specifically, the Marketing Audit examines the following areas:
Web Site – Examine landing page and internal pages; site’s use of graphics (photos, artwork, etc.); branding/marketing message; functionality; overall design and visual appeal; ease of use.
Logo and Tag Line – Breakdown the logo, graphic element and tagline and how they fit within the overall positioning and customer value proposition.
Advertising Plan – Review newspaper, radio, billboard and direct mail advertising campaigns; ensure central branding messages are consistent, memorable and distinctive with the brand’s integrity.
Marketing Collateral/Client Communications – Analyze current marketing collateral and client communication vehicles (point-of-service displays, statement stuffers, newsletters, president’s message, etc.).
Competition – Conduct a competitive analysis for the company against its top three market competitors (community banks only).
Budget Analysis – Where and how the firm is spending its marketing dollars today? We’ll examine the expenses, the returns on those expenditures and how the budget might be altered to better improve profitability.
General Branding Conclusions – A comprehensive summary of the marketing audit with specific strengths and weaknesses along with opportunities to solidify the overall brand.
On average, depending on the size of the company, most Marketing Audits can be completed within 5 to 7 business days. After the Marketing Audit is complete, The BrandBank will meet with you to discuss its findings. Each Marketing Audit will include a detailed report of your brand’s strengths as well as opportunities you have for potential alternative approaches tailored to fit your institution’s needs (i.e. web site enhancements, collateral suggestions, messaging, communication planning). With every completed report, The BrandBank will include recommendations and a general cost estimate for each.
The Marketing Audit is a fast, inexpensive way to see how hard your marketing dollars are working for you. In addition, you’ll see how your institution stacks up against your local competition and where you could begin to improve your overall marketing effectiveness.