A brand audit can provide clarity and insight helping you understand your brand's performance in the marketplace.

Conducting a brand audit will enable you to get a clear picture of where you currently stand, so that you can make informed decisions about your brand's future.

Whether you're a CEO contemplating a rebrand or a marketing manager under pressure, a brand audit is an invaluable tool.

In this article, I will walk you through the process of conducting a brand audit, highlighting its importance and outlining a six-step process for your convenience.

Table of Contents:

1. The Essence of a Brand Audit
2. When to Conduct a Brand Audit
3. Step 1—Identify Competitors
4. Step 2—Examine Visual Identity
5. Step 3—Examine Messaging
6. Step 4—Gather Metrics
7. Step 5—Develop Hypothesis
8. Conclusion

I had the opportunity to conduct a brand audit for Medihuanna—one of my clients.

It's a company specializing in online education in the cannabis space, so I will use it as example to illustrate the process.

The Essence of a Brand Audit

A brand audit is an in-depth analysis of a brand's position in the market.

It involves both: an analysis of the competitive landscape, and a deep dive into the brand itself.

The goal is to identify the brand's strengths and weaknesses and to pinpoint opportunities for differentiation.

This could be as simple as a surface-level analysis of aesthetics (fonts, colors, logo etc) to an in-depth look at the the products, messaging, positioning strategy, pricing, distribution, etc.

The findings of a brand audit are documented in a report, which provides recommendations for improving the overall brand performance.

When to Conduct a Brand Audit

Conducting a brand audit is crucial in various scenarios, especially when considering rebranding.

It helps clarify the need for change by evaluating the brand against its competitors, guiding stakeholders in building a strong case for updating their brand.

In the rebranding process, an audit assists in understanding the brand's market position, identifying what elements to change or retain.

Regular audits ensure a brand remains adaptable and relevant in changing markets.

An example of this is Medihuanna, an online education provider for healthcare professionals in cannabis prescription.

Faced with an outdated image and market competition challenges, Medihuanna sought a rebrand (See old logo on my portfolio).

We conducted a comprehensive audit, examining their brand positioning, visual and communication strategies, and competitor comparison.

This helped us identify areas for improvement, enabling Medihuanna's brand to not only stay relevant but also gain a competitive edge.

Step 1—Identify Competitors

The first step in a brand audit is to identify competitors, both direct and indirect.

This involves researching companies that offer similar products or services and understanding their market positioning.

For Medihuanna, this meant analyzing other educational platforms and resources in the cannabis and healthcare sectors.

Identifying competitors helps in benchmarking your brand and setting a baseline for comparison.

Step 2—Examine Visual Identity

A brand's visual identity, including logos, colors, typography, and overall design aesthetics—plays a pivotal role in how it is perceived.

In Medihuanna’s case, we assessed their visual identity to determine if it appeared outdated or misaligned with current market trends.

This step is crucial for ensuring the visual elements of your brand resonate with your target audience and stand apart from competitors.

Step 3—Examine Messaging

Messaging is all about how a brand communicates its values, benefits, and unique selling propositions.

In this step, examine the linguistic content of each competitor to understand their messaging and brand voice.

For Medihuanna, we evaluated their messaging across various platforms, including their website, social media, and marketing materials.

This examination helped in understanding if their messaging was effectively reaching and engaging their target audience.

Step 4—Gather Metrics

Gathering metrics involves analyzing customer feedback, engagement rates, website traffic, and other relevant data.

For Medihuanna, this meant looking at enrollment numbers, course completion rates, and feedback from users (that's looking at internal metrics).

We also used tools like Social Blade etc. to take note of social media followers, and Google Analytics and such to examine web traffic.

Remember—data is king in any brand audit; it provides you with a baseline against which you can measure your adjustments.

The more data you can gather the better; as quantitative evidence is key to measuring the brand's performance.

Step 5—Develop Hypothesis

Based on the findings from the previous steps, the final stage is to develop a hypothesis.

This involves outlining potential strategies for improvement or rebranding.

For Medihuanna, this could include updating their visual identity to be more in line with current design trends.

It also involves refining their messaging to better target healthcare professionals.

And also enhancing their digital presence to improve user engagement and increase course enrollment.

Conclusion

As the final outcome, compile your findings into a brand audit report, highlighting key takeaways and recommendations.

A brand audit is a powerful tool that provides a clear, objective understanding of your brand and how it stacks against competitors.

There are also different marketing frameworks that you can use for this purpose, most start with a simple SWOT analysis.

In summary, if you're considering a rebrand—a brand audit can provide the insights you need to make informed decisions.

Remember, the value of a brand audit lies in its ability to identify unique opportunities for differentiating your brand.

So it’s not about fitting in, but rather standing out.