Audit & Consulting
Why do companies fail?
of all new small businesses will close their doors in their first half-decade, according to The United States Bureau of Labor Statistics report.
of companies who shutter their operations do so after finding out that there was no actual demand for their products or services in the first place.
To avoid this failure first of all you should conduct a marketing audit.
What is your overall online presence?
The most essential step of an audit would be to measure how well you rank - both organically
and on paid channels. How do you use email marketing, what are your current and potential reach, click-through rate, and what other
metrics to track?
Aren't you losing money and time?
If your marketing efforts are not as great as you wish, you might want to run a full-scale audit of your activities using a team of highly experienced consultants.
Are there the right audiences?
Let's take a look at the mechanics. Are the graphic elements used correctly? Do you have an up-to-date website and social media accounts? What is your tone of voice? Does the programming part of your website match all requirements? These are the main things to look at.
Marketing Audit: The Basics
A marketing audit is a strategy that businesses can use to find out what is most important to their target audience. After gathering such data, a company can then adjust its marketing strategy accordingly. When done correctly, this maximizes both their budget and their efforts while giving them an edge over the competition.
If you’re a business owner, and you’re at all unsure of what your clients, leads, and prospects actually want from you, you’re putting your company at serious risk. But by performing an audit, you can do a deep dive into your efforts to uncover all of the associated strengths and weaknesses.
It might not be a fun experience, but it is sure to be an enlightening one. In fact, it might be the very investment that saves your business.
Why Conduct a Marketing Audit?
If you’re unclear what your target audience is looking for in a brand, aren’t sure if your marketing efforts are reaching their goals, or worry that you’re quickly running out of new prospective customers – a marketing audit is a smart move.
Of course, whether you perform an audit or not will vary according to your market position, your competition, and your organization’s primary goals. That’s why it’s best to trust your audit to a professional team.
These individuals know what to look for and have the skills to help you gain valuable insight into your marketing team’s performance. At the same time, they can provide useful advice to aid you in designing new objectives, strategies, and processes for future growth.
How Does a Marketing Audit Work?
Your business’s needs and budget will define the specific scope of any marketing audit. The process will also depend on what sort of information you’re out to discover. For instance, you can perform a targeted audit of just one specific marketing tactic – assuming you have reason to suspect it might be hurting your ROI. However, a full-scale audit that offers a comprehensive view of your efforts will always be far more useful.
Though it will take longer and cost more, such an audit can cover everything from market research and competitor analysis to branding, SEO, and website design. While both strategies will give you answers, only the latter will present you with new opportunities to consider. Below, we’ll outline two of the most important aspects of the auditing process.
A detailed competitor analysis can help you gain valuable insight into how your rivals operate. This can reveal any potential weaknesses in their strategy while highlighting the areas where they are most likely to dominate. Through this process, you can also learn more about industry trends and standards. This will help you ensure that your own efforts are keeping pace.
You can also:
- Establish your product or service’s value proposition. What makes your product different from others? How can this be capitalized upon?
- Discover what the opposition is doing correctly. In many cases, the following suit will help you stay relevant while you figure out how to match – then exceed – their efforts.
- Find out where your rivals are underperforming. These gaps in their strategy can provide you with new opportunities to gain valuable market share.
- Gain insight into their successes and failures via customer reviews. Where are they falling short? Where are they succeeding? What features does your product have that their customers might prefer?
- Establish benchmarks so that you can better chart your success as you grow.
At Whales Ventures, we use a variety of powerful tools to perform an in-depth analysis of your competition. From Alexa and Keyword Spy to Ahrefs, Semrush, and Simularweb, we can generate fast, accurate results that produce pages upon pages of valuable data. With years of experience in the industry, we offer some of the most comprehensive consulting services on the internet.
We will use all possible ways and channels to investigate your competitors and define what you could do better then they do.
- Search visibility
- Paid ads usage
- Newsletters and emails
- Reputation and PR
- Phone/sales communication
Audience research helps you better tailor your branding, price points, customer service, and marketing strategies. After all, if you want to talk to someone and persuade them to purchase your product, you need to ensure you’re both speaking the same language.
Our goal is to determine the best target audience for your product and then advise you on creating marketing personas that resonate with them. From demographics and needs to pain points and more, we’ll put you directly in the heads of the people who can make or break your business.
One way Whales Ventures’s audience research service stands out is how we utilize “social listening.” This means monitoring social media channels to find out what customers and non-customers alike think of your brand. From simple mentions to high-value feedback, this is an essential strategy for focusing your marketing and branding efforts.
You’ll get a competitive analysis of your existing and potential audience
- Defining a target user persona
- Online research
- Questionnaires and surveys
- Analyzing your website
- A/B test campaigns
Defining points of growth
- General impression
- Strategies and tactics
- Realistic expectations
- Customer lifetime value
Our related case studies
How we do audit
With our fresh eyes you can spot things you can’t just see yourself. You will gain a benefit of experience from other industries and businesses we’ve already improved.
Get Your Audit Today
Whales Ventures is committed to providing you with a clear, honest assessment of your market strategies. To avoid becoming one of the unlucky 50% of small businesses that fail, you need to take steps to ensure you’re doing the right things to find, attract, and retain a profitable customer base.
At Whales Ventures, we collect all the data, perform all the research, and provide you with actionable goals that can drastically change your business’s outlook. To learn more about Marketing Auditing, contact us today.