A marketing audit can help keep a business' marketing on track and lead to great results. Here are auditing strategies to consider using after MBA school.
To ensure marketing efforts are effective, it's important to run an occasional marketing audit. This is a process through which a business reviews and analyzes branding, design, ads, and other marketing work and elements. The goal is to ensure they are reflective of the business' voice and ambitions. Based on the results of an audit, a business can decide whether to keep on with the same kind of marketing work, or if there's a need to change its approach with some elements.
Do you want to learn more about how to complete an effective marketing audit? Here are some key strategies to follow after MBA school.
The marketing department at a business will likely have been responsible for producing the marketing work that is being audited. For this reason, it's best that the audit be completed by someone with some independence from the marketing department. Independence can bring a measure of objectivity to the audit, and ensure that the work that is being reviewed is seen through unbiased eyes.
For businesses with smaller budgets, it may make more sense to find an employee within the company who is not affiliated with the marketing team to conduct the audit. For larger businesses, hiring an outside marketing expert to conduct the audit is a great way to garner excellent, expert perspective on the work that is being done.
Completing a Professional MBA program could give you a special advantage in this regard. If you need to perform a marketing audit at your place of work, consider reaching out to your classmates. Not only will you get the impartial assistance you need, but you can be sure that the individual providing it has the same great education that you do.
While subjective opinion on marketing material is important, it should not be the sole tool for analysis when conducting a marketing audit. It's entirely possible that marketing materials will look and feel right, but won't get the results a business wants when sent out into the world.
Collecting objective data about budgeting, incoming traffic, the number of leads found through marketing, and so on, can be very valuable. It can help you assess which pieces of marketing work and which don't. You might discover that a particular style of marketing—podcast ads, for example—just aren't drawing in new clients. Or, you might discover that you could benefit from investing more heavily in a different avenue, like Google ads, which your data may have shown attracted many visitors to your website.
Through completing an MBA school education, you can gain the necessary skill and experience with data collection and analysis to oversee an effective, data-driven approach to marketing audits. Let the numbers guide your decision-making and you will be likely to get a great perspective on how your business' marketing efforts can be improved.
One of the biggest mistakes that can be made with marketing audits is to assume that a single audit is enough. Companies evolve, brands change, and the work produced by the marketing department will change, too. That's why, in order to ensure your marketing efforts are always aligned with the present goals and position of your organization, it's important to complete regular marketing audits.
A good audit is a significant investment of time and money, so it would be unreasonable to expect to perform one every few months. Performing an audit once a year—or at the very least, once every few years—is a good way to ensure you address potential marketing shortcomings in a timely manner without spending an excess of time or money on the process.
If you're unsure of how best to schedule marketing audits for your workplace, consider reaching out to professors or guest lecturers in your marketing MBA program. You will receive expert advice drawn from years of experience in academic and practical business to help put you on the right track for your workplace's auditing needs.