BrandKnew September 2013 January 2013 | Page 26

Measuring Up The ABCs of Brand Auditing Maria Elena Moré (MoreThanBranding.com) Brand performance is like a balancing act; a dance between the familiar, the unexpected, who we are, and who we wish to be. It pushes us to define, reevaluate, and challenge ourselves everyday under the notion of being greater and more influential tomorrow than ever before. If you don’t know where you are and where you want to be, then how will you get there? But better yet, how will you know if you got there in the first place? Just as in life, there comes a time to revise our actions, in search of improvements that might even lead to a trail of new heights. WHAT IS BRAND AUDITING? Brand auditing is an assessment that provides a detailed analysis of a brand and its marketing effectiveness, strengths, weaknesses, impact and future performance. When it comes to growth, it is vital in that it identifies opportunities and pinpoints the overall health of a brand. Its results may be as insightful as well as tough at times, but overall, it’s a great way to visualize opportunities that can provide an extended life to our brand. It is essential when a strategy entails optimizing growth in a competitive environment. Consumers are always willing and ready to support a brand that evolves alongside with them; a brand that can easily adapt whilst maintaining its central qualities – those distinctive and present since its conception. A brand audit establishes the strategic elements required for positioning and competitiveness within the category and from various perspectives.