Audit & Consulting
Why do companies fail to succeed?
of all new small businesses close in their first half-decade, according to The United States Bureau of Labor Statistics report.
of companies who shut down their operations do so after finding out that there was no actual demand for their products or services in the first place.
Why should you conduct a marketing audit first?
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 you use email marketing, your current and potential reach, click-through rate, and 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 with a team of highly-experienced consultants.
Are you focused on the right audiences?
Let's take a look at the mechanics. Are the graphic elements used correctly? Are your website and social media accounts up-to-date? What is your tone of voice? Does the programming part of your website match all the requirements? These are the key things to consider.
Marketing Audit: The Basics
A marketing audit is a strategy businesses can use to find out what’s most important to their target audience. After gathering data, you can then adjust the marketing strategy accordingly. When done correctly, this maximizes both the budget and efforts while giving an edge over competitors.
If you’re a business owner unsure of what your clients, leads, and prospects actually want, your company is at serious risk. But, by performing an audit, you can dive deeply into your efforts to uncover all of the associated strengths and weaknesses.
It might not be a fun experience, but it sure is an enlightening one. In fact, this 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, whether your marketing efforts are efficient, 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 varies based on your market position, competitors, and primary goals. That’s why it’s best to trust professionals with your audit.
They know what to look for and have the skills to help you gain valuable insights into your marketing team’s performance. At the same time, they can provide useful advice to help design new objectives, strategies, and processes for future growth.
How Does a Marketing Audit Work?
Your business’ needs and budget define any marketing audit’s specific scope. The process also depends on the sort of information you’re out to discover. For instance, you can perform a targeted audit of a distinct marketing tactic — assuming there’s a reason to suspect it might be hurting your ROI. However, a full-scale audit that offers a comprehensive view of your efforts is always far more useful.
Though it takes longer and costs more, such an audit covers everything from market research and competitor analysis to branding, SEO, and website design. While both strategies give you answers, only the latter one presents new opportunities to consider. Below, we’ve outlined two of the most important aspects of the auditing process.
A detailed competitor analysis helps you gain valuable insights into how your rivals operate. This reveals any potential weaknesses in their strategy while highlighting the areas where they’re most likely to dominate. Through this process, you can also learn more about the industry trends and standards. This will help ensure that your own efforts are paced well.
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 your rivals do correctly. In many cases, this helps stay relevant as you figure out how to match – then exceed – their efforts.
- Find out where your rivals underperform. These gaps in their strategy can provide new opportunities to gain valuable market share.
- Gain insights into their successes and failures via customer reviews. Where do they fall short? Where do they succeed? What features does your product have that their customers might prefer?
- Establish benchmarks to better chart your success as you grow.
At Whales Ventures, we use a variety of powerful tools to analyse your competitors in-depth. From Alexa and Keyword Spy to Ahrefs, Semrush, and Simularweb, we can generate fast and 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 use all the possible ways and channels to investigate your competitors and define what you can do better.
- Search visibility
- Paid ads usage
- Newsletters and emails
- Reputation and PR
- Phone/sales communication
Audience research helps 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, it’s important that you both speak the same language.
Our goal is to determine the best target audience for your product and then help create matching marketing personas. 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’ audience research 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 to focus your marketing and branding efforts on.
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 growth points
- General impressions
- Strategies and tactics
- Realistic expectations
- Customer lifetime value
Our related case studies
How we do audit
With us, you’ll spot things you can’t just see yourself. You’ll 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 and honest assessment of your market strategies. To avoid ending up among the 50% of small businesses that fail, you should take steps to ensure you’re doing the right thing 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’ position. To learn more about Marketing Auditing, contact us today.