What are the Steps to Conduct a Brand Audit and Brand Strategy Analysis?
Creating a brand strategy and conducting brand audits can sound like a tedious process but it is an important step that has to be taken to lead your business to success. A brand audit is the internal and external examination of your brand to see its effect on the customers and assess the position of the brand in the market. A corporate branding agency in Dubai can help you with this process and come up with effective strategies to make your branding process better.
Through brand auditing, you can identify your weaknesses and any threats that may be coming your way so that you can be prepared. You can analyse whether any change is required in your current strategy for better performance. You can also develop new strategies with the data available to perform even better. Conducting brand audit and brand strategy analysis is necessary and given below are the steps to conduct them.
Create a framework
Before you start the brand audit process, create a framework on which all aspects of your brand you are going to cover in your audit. The framework can include the internal working of your brands such as your vision and mission and also the work environment as well external factors such as the value you offer to your customers, customer experience or competitor analysis. You may also want to analyse your promotional strategies and marketing activities. Creating a framework will focus your activities and give you a direction on how your audit should be.
Your goals are what you wish to achieve with your brand. Your business should have a goal so that it can keep growing. The goals you set can guide the direction of your business and therefore it is important to have specific goals for each of your activities. Once you’ve created your framework, refer to your goals to see what you are planning on achieving. The audit can be done on the basis of these goals.
Decide on survey methods
The survey method you choose can be based on the size of your audience or the questions you want to ask. Make sure that the method you choose is measurable and comprehensive so that the brand audit can be effective. A corporate branding agency will be experienced in all the different survey methods and they can choose the method that suits your business the best. Different survey methods include emails, direct mail, telephone calls, meetings, social media polls etc. The questions you ask should be specific to your brand to get a more comprehensive result.
Ask your customers
Once you’ve fixed your survey method, prepare the questions you want to ask your customers. Questions may be easier to answer and analyse if they are in multiple-choice format or a rating scale. But make sure the questions you ask are specific. You can get answers from your customers on how you are performing and how you can make your services better through your survey. Your customers are the reason you exist. Their feedback is important to know if you’re working the right way. Asking them is the best way to know how you are doing and by asking them how you can perform better, you make them feel more involved in your activities.
Analyse your competitors
Competitor analysis can give you something to compare yourself to. You can analyse how they are performing and their position in the market and compare it to yours to identify what you are doing right or wrong and find ways to perform better. This analysis can also help you identify trends and always remain up to date. The agency you hired for corporate branding in Dubai can help you analyse your competition. They will be able to do an unbiased comparison and help you identify what your strong or weak points are.
Check web analytics
Web analytics is a great tool to analyse everything that is happening on your website. You can get clear statistics on where your audience is coming from, how many of them are availing of your services or buying your products, how much is the bounce rate if your website is attracting your target audience and so on. You can clearly analyse how attractive your website is and make necessary changes. The same can be done on your social media pages too.
Analyse sales data
Sales data has to be critically analysed to get the profit you are making and the consumer group you are being exposed to. Customers can be classified based on their age, gender, income, education and location to get a clear picture of who your customers are. The sales data can show you how well your products are doing in the market.
Analyse your results
Once you’ve completed your brand audit, you will have a set of figures with you that you have to carefully analyse. All this data shows your performance in the market and how well you are perceived by your consumers. The results can be negative or positive. If it is negative, you have all the data available to you on what you are doing wrong and you can change your strategies to perform better. A top branding company in Dubai can analyse the results for you and help you come up with effective branding strategies to up your game and perform better.
The business world is very competitive now. You have to work really hard to establish a brand that people identify with. Simply putting out a logo or tagline is not enough for you to grow. You have to continually analyse how your consumers are perceiving your brand and how you are performing in the markets in order to be successful. Conducting brand auditing and brand strategy analysis is part of that process. The business world is changing every day. Trends are changing every day and you have to stay up to date to stay relevant. Hiring the best branding agencies in Dubai can help you build your brand and conduct audits to be better every day and excel in your field.