Strategy Audits: The Revamp Your Brand Needs

It might be that your strategy has fallen on its arse, and a strategy audit is the only thing that’s going to get you back up. If your marketing isn’t working, you need to know why. Too many brands throw money at ads, social media, and campaigns without ever checking if their strategy actually makes sense. That’s where a strategy audit comes in. It’s the difference between wasting a budget and actually getting results.

At co&co, we’ve seen it all – brands running in circles, marketing that’s missing the mark, and businesses stuck in the "we’ve always done it this way" mindset. And if you’ve never had a strategy audit before, let us spell it out: you need one. No exceptions. Investing now will only save you money in the long run – because a mega strategy means less wasted spend, more impact, and a brand that actually grows instead of coasting along.

Feeling like your brand’s stuck in a rut? It’s probably time. A strategy audit is there to get your marketing back on track. At co&co, we’re a no fluff, no bull kind of agency. We say it how it is and help you fix what’s not working. Let’s unpack strategy audits for you.

Understanding the Triggers for a Marketing Audit

If you’re new to this, then you’ll probably need to know what to look out for, right? The marketing strategy audit process is about identifying what’s holding your brand back and fixing it before it costs you time and money. Here are some red flags – and if you’re sitting there thinking, “that’s us,” then you know where we are 😉.

👉 Stagnant Sales: If your numbers have flatlined, it's a sign your strategy isn't hitting the mark.

👉 Declining Engagement: When your audience stops interacting, it's time to reassess your approach.

👉 Market Shifts: New competitors or changing trends can leave you behind if you're not adapting.

👉 Inconsistent Brand Messaging – If your marketing feels all over the place, your audience won’t know what to expect. That’s a problem.

👉 Low ROI on Campaigns – Spending big but seeing little return? Your strategy needs fixing before your budget disappears. ROI and strategy audits go hand in hand - if you don’t know where the leaks are, you’ll keep pouring money into the wrong places.

👉 Your Competitors Are Outpacing You – If they’re growing and you’re not, they’re doing something right – and it’s time to find out what.

👉 Gut Feeling That Something’s Off – Sometimes, you just know your marketing isn’t working. Trust that instinct – because you’re probably right. Strategy audits unearth so many opportunities, trust us.

Recognise any of these? Then it's audit time. Let’s sort it out before it gets worse.

Benchmarking: Comparing Your Strategy with Competitors

Think you’re doing alright? Okay cool – but how do you actually know? Marketing isn’t just about feeling like you’re making an impact – it’s about data, performance, and knowing where you stand in the market. Your competitors? They’re either ahead of you or behind you – and if you don’t know which, you’re flying blind.

Here’s what you need to be looking at:

👉 Engagement Rate – Are your posts getting the love they deserve compared to others in your field? If your competitors are creating conversations, getting shares, and driving engagement, while your content is sitting there doing absolutely nothing, something isn’t working.

👉 Conversion Rate – It’s great if people are liking and commenting, but are they actually taking action? Are they clicking, signing up, or buying, or just aimlessly scrolling past?

We like to redefine ROI and think of it like this: All sales are conversions, but not all conversions are sales. What does that mean? It means you need to be tracking more than just purchases. Are people downloading your content, visiting your website, signing up for your newsletter, booking a call? These micro-conversions all lead to sales – and if they’re not happening, your funnel is broken.

👉 Customer Retention – Do clients stick around, or are they one-and-done? If you’re constantly chasing new customers because your existing ones don’t come back, while your competitors are building loyal communities, there’s a reason for that – and it’s worth figuring out.

Retention is just as important as acquisition, if not more. It’s cheaper to keep a customer than to find a new one, and if your competitors are nailing loyalty, repeat purchases, and long-term brand trust, they’ve cracked something you haven’t. Maybe it’s their customer experience, brand connection, or post-sale engagement – but whatever it is, you better catch up. Fix your leaks now before you pour more into the funnel.

👉 Share of Voice – How often is your brand being talked about compared to others? What social media channels are you using? Are you in the conversation, or are your competitors owning the space? If your audience isn’t mentioning, tagging, or engaging with your brand organically, you’re not making enough of an impact.

👉 Brand Perception – What do people actually think about your brand compared to your competitors? Are you seen as a leader, a trendsetter, or just another option in a crowded space? If your positioning isn’t clear, neither is your strategy.

👉 Ad Performance & Cost Efficiency – Are you paying more for worse results? If your competitors are running smarter, more effective campaigns while you’re spending more and getting less, it’s time to rethink your approach.

Benchmarking isn’t about copying – it’s about identifying where you can do better .If your competitors are doing something better than you, don’t sit there and hope it changes. That will do nothing for you or your brand. A strategy audit is the revamp your brand needs. Find out why it’s not working, make the adjustments, and start winning.

Turning Audit Insights into Actionable Steps

An audit’s useless without action. The whole point is to identify what’s broken and fix it – properly. Here’s how to make it count:

👉 Prioritise – Not everything needs fixing at once. Tackle the issues that will make the biggest impact first – whether that’s your brand positioning, content strategy, or customer journey.

👉 Set Clear Goals – “Get better at marketing” isn’t a goal. Define what success actually looks like in measurable terms – more leads, higher engagement, better conversion rates? Be specific, or you’ll have no idea if it’s working.

👉 Implement Changes – Strategy is great, but execution is everything. Don’t just plan – execute with precision. Whether that’s tightening up messaging, restructuring campaigns, or overhauling content, ideas mean nothing if they stay on paper.

👉 Monitor Progress – Keep an eye on the results and be ready to adjust as needed. If something isn’t working, change it fast. Strategy isn’t a one-and-done job – it’s relentless – constant testing, tweaking, and refining to make sure you’re getting the best results.

Bottom line? An audit isn’t a quick fix – it’s about continuous improvement. Brands that stay ahead don’t just run one audit and call it a day – they keep evolving, adapting, and staying one step ahead of the competition. If you’re serious about making your marketing work, be prepared, this isn’t a one-off – it’s a mindset. You need regular strategy audits to make any real, lasting impact.

At co&co, we do strategy audits all the time – it’s what we’re built for. We’re not here to tell you what you want to hear. We’ll give you the good, the bad, and the ugly because that’s how you actually fix things. If your marketing isn’t performing, there’s a reason, and we’ll find it.

Sometimes, you’re too close to your own brand to see what’s not working. That’s where we come in. A fresh, objective perspective can be the difference between repeating the same mistakes and actually moving forward with a strategy that works.

So if you’re done throwing money at marketing that doesn’t deliver, it’s time for a strategy audit. Let’s identify the gaps, tighten up your approach, and build a marketing plan that actually makes sense.

Ready to revamp your marketing strategy? Let’s work together 🤝.