The Value of a Marketing Audit

Sean Cox
Sep 26, 2024
2 min read

A marketing audit is a deep look into marketing strategies, operations, and performance. An audit can involve analyzing budgets, targeting, communication channels, technology, and reporting.

Insights gained from a marketing audit help identify opportunities to optimize the team’s time, budget spend, and results.

An audit can be as limited as a few Zoom calls or as deep as full to your CRM and marketing systems.

My goal while conducting your audit? I want to know what problems you’re currently facing so I can develop the fastest path to better results.

What is the value of a marketing audit?

An audit returns both time and money.

Reallocating effort and spending generates better opportunities to increase revenue while keeping overall spending costs flat, or down.

Let’s explore two sources of revenue: net new customers and existing customers. Here are examples of what an audit can uncover:

1. Net New Customers

Identify Gaps in Targeting: An audit can reveal weaknesses in your target account list or ideal customer profile (ICP), helping to refine customer personas and focus marketing efforts on high-potential accounts.
Analyze Conversion Rates: By evaluating the sales funnel and conversion rates, companies can pinpoint drop-off points and optimize processes, landing pages, or assets to improve lead conversion rates.
Assess Marketing Channels: A marketing audit can assess the effectiveness of various channels (email, social media, SEO, paid ads, etc.) in attracting new customers, enabling companies to reallocate resources to the most effective channel.

2. Existing Customers

Identify Upsell/Cross-Sell Opportunities: Analyzing purchase history and customer behavior can reveal patterns that suggest potential upsell or cross-sell opportunities, driving additional revenue from existing customers.
Foster a Community Amongst Customers: The audit can assess the impact of current engagement strategies like customer events and advisory boards. An audit can build the case for increasing investment in customer events.
Gather Customer Feedback: Incorporating customer insights from surveys or interviews during the audit can help identify untold success stories. Positive feedback opens the door for new customer case studies.