Unlocking the True Potential of Marketing Strategy Audits

Listen up. It's time to talk about something that could save your marketing strategy from going down the sh*tter—strategy audits. Just like your annual physical check-up, your marketing plan needs a regular check-up to make sure everything’s in decent shape.

A strategy audit is a thorough examination of your current marketing strategy. It’s about digging into what channels you’re using, the activities you’re engaging in, and where your budget is being spent. At co&co, we’re mega when it comes to marketing strategy audits. We assess how your brand is being positioned and perceived, what resources you have at your disposal, and how aligned your business is with your objectives. Once we’ve carried out the audit, we’ll present our findings, along with any recommendations for improvement. So, grab a coffee and get ready to learn why strategy audits are key to your business's success.

Benefits of Regularly Auditing Your Strategy

If you’re not regularly auditing your marketing strategy, you leave money on the table. Regular reviews can reveal what’s working, what’s not, and what could be changed up. Here’s why you need to make audits a non-negotiable part of your marketing game plan.

Enhanced Decision-Making

When it comes to making decisions, you need data, not guesswork. Regular audits give you data-driven insights that help you steer your marketing ship in the right direction. Imagine knowing exactly which campaigns are killing it and which ones need to be kicked to the curb.

Beech Holdings, a leading UK property developer, approached co&co after a major investment to refocus their marketing on lead generation and brand awareness. co&co provided support, including marketing plans, strategy audits, and team management. As a result, Beech Holdings saw a cost per sale at less than 50% of the market average, numerous high-profile award nominations, and an effective in-house marketing team structured like an internal agency.

Increased Efficiency

Stop wasting time and money on dead-end strategies. You can unearth opportunities with marketing strategy audits. An audit helps you streamline your marketing efforts by identifying redundant processes and reallocating resources to where they matter most.

Improved ROI

What's the relationship between strategy audits and ROI? If you want to see a better return on your investment, you need to know what’s driving results and what’s just fluff. Regular audits help you measure the impact of your marketing channels.

But remember, all sales are conversions, but not all conversions are sales. What we mean by this is let’s say as a business, your focus is on getting more content downloads, event sign-ups or more website visitors. These actions, though not directly generating sales, are still measurable and contribute significantly to your overall business growth.

Let’s look at Manchester Apartments as an example. A top lettings and property management company had some serious issues despite getting thousands of enquiries monthly and letting most of their portfolio a year in advance without viewings. They had no CRM for tracking results, no long-term strategy, and their website was stuck in the past. That’s where co&co came in.

We tackled their problems with marketing plans, strategy audits, project management, and CRM and email marketing. After a full channel audit, a new 12-month budget, better reporting, and an upgraded online experience, their ROI shot through the roof. They cut their cost per sale to less than 50% of the market average, doubled their leads per month, increased database engagement by 150%, and generated £4.5 million in revenue from their website. By fine-tuning their strategy and optimizing their processes, Manchester Apartments saw their marketing spend work harder and smarter, leading to a massive boost in ROI.

The Process: How to Conduct a Comprehensive Audit

So how do you conduct a comprehensive strategy audit? First off, half-ar*sing your strategy audit won’t cut it. Here’s a few tips on how to prepare and conduct your audit:

1. Initial Preparation

First things first, gather your data and define your objectives. What do you want to achieve with this audit? Clear goals are key. You'll need analytics tools, financial records, and a no-bullsh*t attitude.

1. Analysing Current Strategy

Next up, review your current marketing channels and activities. How’s your brand being positioned? What’s the market’s perception? Dive deep into what’s happening right now.

1. Evaluating Budget Allocation

Time to follow the money. Analyse how efficiently you’re spending across different channels. Spot any cost-saving opportunities and areas where you should be investing more.

1. Formulating Recommendations

This is what f*cking matters. Present your findings with actionable insights. Don’t just point out the problems—offer solutions and create a roadmap for improvement.

The co&co Way: How We Do Strategy Audits

This works for us and works for our clients.

🖤 An Unbiased Assessment

At co&co, we don’t sugarcoat sh*t. We tackle every audit with objectivity. We're not 'Yes' people, and we won't just tell you what you want to hear. If your current plan is sh*t, we'll say it straight. That’s just who we are. And if there's something you're mega at, we'll make sure you double down on it.

🖤 Driven by Data & Experience

Our feedback and recommendations aren’t pulled out of thin air. They’re based on solid data from previous and current activity, along with our combined experience of over 20 years in crafting mega strategies for businesses across various sectors.

🖤 A Roadmap to Take Forward

We won’t just tell you where you’re smashing it and where you’re flopping. As part of our audit, we’ll hand you a bunch of recommendations to shape your future strategy. Need help formulating that plan and executing it? We’ve got your back there too.

Translating Audit Insights into Action

It’s not enough to just have audit insights; you need to act on them. Here’s how to turn those findings into strategies that’ll make your competitors cry.

Prioritising Recommendations

Start by identifying high-impact areas that can drive the most significant improvements. Look at which recommendations will give you the best results. Once you’ve pinpointed these areas, create a detailed timeline for implementation. This ensures you tackle the most important issues first without rushing and botching the execution.

Implementing Changes

Execution is where plans turn into reality. Follow your roadmap closely, making sure each step is executed with precision. Monitor progress regularly to ensure everything is on track. Be ready to pivot and adjust strategies on the fly if needed. Flexibility is key—rigid plans can fail when unexpected challenges arise.

Continuous Improvement

Your work isn’t done after the initial implementation. Regular follow-ups and re-audits will help to keep your strategy responsive. Continuous improvement means constantly tweaking and refining your approach until you hit perfection—or as close to it as possible.

Regular marketing strategy audits aren’t just a nice-to-have. You need them. Regular audits can enhance decision-making, increase efficiency, and improve your ROI. Don’t let your marketing strategy go to sh*t. Get in touch with us to schedule your comprehensive marketing strategy audit today.

Let’s work together. We know what we’re doing.