Conducting a marketing audit provides the opportunity to review and appraise your whole marketing activity, enabling you to assess past and present performance as well as to provide the basis for evaluating possible future courses of action.
The marketing audit is a fundamental part of the marketing planning process.
It is conducted not only at the beginning of the process, but also at a series of points during the implementation of the plan. The marketing audit considers both internal and external influences on marketing planning, as well as a review of the plan itself.
In many ways the marketing audit clarifies opportunities and threats, and allows for alterations to the plan if necessary.
- How is our marketing team organised?
- How efficient and effective is our marketing team?
- How does our marketing team interface with other organisations and internal functions?
- How effective are we at Customer Relationship Management (CRM)?
- What is the state of our marketing planning process?
- Is our marketing planning information current and accurate?
- Are we pricing advertising schedules in the right way?
- Are we getting our marketing communications right?
- Do we have the right people facing our customers?
- How effective are our customer facing processes?
The marketing audit has certain similarities to a financial audit in that it is a review or appraisal of your existing marketing activities.
Because the business environment is constantly changing, the marketing audit should be used as a reference tool, with constant updates reflecting changes in the external environment and your own internal business experiences.
Campaign analysis and optimisation has often been overlooked and marketers relied on their intuition to make decisions regarding marketing spend. However, those days have long passed and now marketers must justify marketing spend to stakeholders with the supporting data and facts.
Fortunately, today’s marketers can leverage many established best practices and tools to efficiently collect the necessary data to analyse marketing campaigns and make informed data-driven business decisions. Campaign analysis can not only help make short term fixes to a marketing campaign mix but can also provide insight into maximising the lifetime value of a customer over time.
Some things Maverick Strategies look at are:
What is a reasonable sales goal for this marketing campaign?
Will this campaign generate sufficient profits to be worth the marketing investment?
What is the projected Return-on-Investment for this marketing program?
What are the total profit dollars generated by this marketing campaign?
What is the new customer acquisition cost in this program?
What is the new customer acquisition cost as a % of total sales?
From building the proper test design strategy to fit your goals and objectives to collecting the right data to uncovering and presenting insights in a clear and concise manner, our focus is on understanding consumer behaviour and improving performance.
Most Internet marketing and website development projects fail before they’ve even been launched.
Lack of planning and understanding of development styles and the online culture are among the primary reasons for failure.
A solid Internet marketing strategy must be in place prior to any project launch or development.
Maverick Strategies provide valuable expertise that allows our clients to build and execute Internet related projects flawlessly and measure results that lead to a true return on investment.
Integrated marketing campaigns use a more holistic approach than those using a single marketing medium. They’re more interesting, more impactful, and they typically have higher response rates and generate more leads.
Integration is key to marketing campaign effectiveness. No matter how you slice it, by media type, by audience, by offer type or any other way, multiple approaches working together with common offers, common brand and common goal will be much more effective than any of those single efforts, and even more than all of them working independently. At the risk of using an overused term, there is “synergy” to be gained by driving all efforts under the same flag.
Integration offers several key benefits we cannot ignore.
If a greater return (be it registrations, hits, impressions,memberships, sales, appraisals etc.) is gained by fewer outgoing exposures (mail pieces, ads,radio spots, e-mails, phone calls) because they work together and support each
other, then the results have been obtained for less expense. More for less is the goal, and this hits it squarely.
2. Range of coverage
If point one is true (and we stipulate that it is) then the result is that for the same cost, you can reach out to even broader audience.This spreads the brand and the offer further, which can be beneficial to the next effort beyond this initial one, preconditioning the new audience to respond the next time they are touched.
3. Brand strength
Based on point two, if you are reaching more people with an integrated campaign, the pieces supporting each other, the brand impression is strengthened with each hit – overlap is more likely, and the impression is stronger with each hit as a result – there’s no disconnect between impressions depending upon the piece to which the audience is exposed.