Why Conduct a Brand Audit?

Jul 10

Did you know that 81% of consumers need to trust a brand to consider buying? The number one way to establish trust is through brand consistency. Running a brand audit is the first step to achieving that goal.

A brand audit is a comprehensive evaluation of a brand's current position in the marketplace. It involves a detailed examination of a brand's strengths, weaknesses, and opportunities. For example, did you know that color increases brand recognition by up to 80%? Is your color palette cohesive and consistent across all marketing channels? The goal of a brand audit is to understand how a brand is perceived and to pinpoint areas for improvement. With that knowledge, you can implement a plan to strengthen and unify your brand. Here are some key times to run one:

Launching a New Brand: Before introducing a new brand to the market, a brand audit can ensure that all elements align with the intended brand identity and strategy.
Rebranding: When considering a rebrand or brand refresh, an audit helps to understand the current brand's perception and areas that need improvement or change.
Mergers and Acquisitions: During mergers or acquisitions, a brand audit can assess how the combined brands will be perceived and how best to integrate them.
Declining Sales: If a brand experiences a decline in sales or customer engagement, an audit can identify the root cause and provide actionable insights to address them.
Market Changes: When there are major shifts in the market, such as new competitors, changes in consumer behavior, or technological advancements, a brand audit can help the brand adapt and stay relevant.
Routine Maintenance: Even in the absence of specific issues or changes, conducting a brand audit annually can ensure that the brand remains strong, relevant, and competitive.
Launching New Products or Services: When introducing new products or services, a brand audit ensures that these new offerings are in alignment with the overall brand identity and strategy.
Negative Customer Feedback: If there is consistent negative feedback or a significant drop in customer satisfaction, an audit can determine the underlying causes and suggest ways to improve.