Many companies know something is not working. Enquiries have slowed, competitors seem to be winning, or the marketing team is busy without much to show for it. The temptation is to jump to a solution: a new website, a new agency, more ads. A strategy audit comes first. It tells you what is actually wrong, so you spend money on the right fix.
What a strategy audit covers
Your market
- Who your buyers are, and how they choose
- How the market is changing
- Where demand is growing, and where it is shrinking
Your competitors
- Who buyers compare you with
- What each competitor claims, and whether buyers believe it
- Gaps no one is filling
Your brand
- What you say about yourself, across every channel
- Whether it is clear, different and believable
- How consistent it is: website, sales decks, social media, staff
Your buyer journey
- How people find you
- What they check before contacting you
- How fast and how well you respond
- Where you lose them
Your numbers
- Where enquiries come from today
- How many become customers
- What each channel costs per customer
What you get at the end
A good audit ends with a short list of priorities, in order. Not fifty recommendations, but the three to five changes that will make the biggest difference, with what each one involves and roughly what it costs.
Signs you need one
- Enquiries are falling and nobody is sure why
- You are about to spend significantly on a new website, rebrand or campaign
- Your sales team says buyers do not understand what makes you different
- You are entering a new market or launching a new service
- Your marketing reports show activity but not results
- A new leader has joined and needs an honest picture
How long it takes
Most audits take two to four weeks. The first week is listening: interviews with the leadership team, sales staff and sometimes customers. Then comes research into competitors, search and your own data. The last step is a working session where the findings and priorities are agreed.
How to get the most from it
- Share your real numbers, even when they are uncomfortable
- Let the auditor speak to customers and front-line staff
- Agree in advance who will act on the findings
- Start with the first priority before adding more
Quick answers
Is a strategy audit the same as a marketing audit? A marketing audit usually looks at channels and campaigns. A strategy audit also looks at positioning, competitors and the buyer journey, which often explains why the campaigns are not working.
Can we do it ourselves? Partly. The hardest part is seeing your own brand as buyers do, which is why an outside view helps.
What does it cost? It depends on the size of the business and the depth of research. Ask for a fixed price and a clear list of what is included.
The takeaway
A strategy audit shows what is holding you back and what to fix first. Do it before you spend on big changes, and act on its first priority quickly.
Want an honest look at your brand? See our brand audit and competitive analysis service, or book a strategy audit.
