Every year firms the world over do financial audits. In these financial audit’s firms make sure that they are spending their money on the right things. So, why is it that firms rarely do this for their marketing and sales efforts? Why not make sure that your marketing efforts are doing what you want for your brands?
A M&S audit provides management an in-depth look and evaluation at the marketing and sales units of a business, paying particular attention at how its activities are planned, implemented and managed.
An audit pinpoints the marketing efforts and practices that are working perfectly, those that are not, and those that need more work.
Marketing operations is a complex area of any business.
It is used to increase return on marketing investment.
A comprehensive marketing audit provides a benchmark for monitoring future marketing activity and highlights opportunities to improve the efficiency and effectiveness of your firm's marketing activities.
A marketing audit is often used before a company reviews its business strategy. A marketing audit will provide valuable customer and market insight to drive the business forwards and achieve its objectives.
A M&S audit enables the company to ensure risk is managed and governance of this strategic unit is in line with best practice.
As an example, most business leaders are not aware of what is the marketing technology (martech) stack their company uses. That is a significant business risk.