business to business (b2b) marketing audit: what is it and how is it done?

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B2B MARKETING AUDIT WHAT IS IT AND HOW IS IT DONE?

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Understanding the definition and intention of a B2B marketing audit, and 6 steps to perform a B2B marketing audit.

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Page 1: Business to Business (B2B) Marketing Audit: What is it and how is it done?

B2B MARKETING AUDITWHAT IS IT AND HOW IS IT DONE?

Page 2: Business to Business (B2B) Marketing Audit: What is it and how is it done?

WHAT IS A B2B MARKETING AUDIT?

B2B stands for business-to-business, referring specifically to those businesses that sell products or services to other businesses rather than consumers.

The definition of an audit is “a complete and careful examination of the financial records of a business or person; a careful check or review of something.”

A marketing audit is different from a tax audit because it looks only at how you are using and allocating marketing resources in an attempt to make it more effective.

It is usually conducted by a professional.

Page 3: Business to Business (B2B) Marketing Audit: What is it and how is it done?

WHAT ARE THE GOALS OF A B2B MARKETING AUDIT?

Increase productivity of marketing budget and resources

Discover other opportunities to market

Beat competitors

Learn the most effective ways of reaching your audience

Produce higher sales rates and increased leads

Page 4: Business to Business (B2B) Marketing Audit: What is it and how is it done?

HOW TO PERFORM A B2B MARKETING AUDIT

Step1: Overview of company and solutions Review all information about the company, including the most

basic, including contact information, company employees, common processes, and sales cycles

Study the efforts made in the past to reform marketing

Review your products or services

Page 5: Business to Business (B2B) Marketing Audit: What is it and how is it done?

Step 2: Marketing goals and objectives Examine your past goals

Evaluate how company priorities have changed

Create new goals that will more appropriately match new priorities

List long- and short-term goals

Focus on growth and improvement

Page 6: Business to Business (B2B) Marketing Audit: What is it and how is it done?

Step 3: Current audience profiles Describe the qualities and traits of your current client base,

including gender, age, location, and job description if available

Evaluate client pool by value and size

Ask yourself if your current audience is your ideal audience

Page 7: Business to Business (B2B) Marketing Audit: What is it and how is it done?

Step 4: Target audience profiles After creating current customer profiles, create an ideal

customer profile with basic information that best fits who you want purchasing your products and services

Determine what changes need to be made in your current processes to reach your ideal audience

Ensure that your goals correctly take into account reaching your target audience; change goals if necessary

Page 8: Business to Business (B2B) Marketing Audit: What is it and how is it done?

Step 5: Analysis of past marketing strategies Review internet and non-internet marketing

strategies

Have past strategies been effective?

What strategies haven’t you tried yet?

Identify strategies you would like to implement

Page 9: Business to Business (B2B) Marketing Audit: What is it and how is it done?

Step 6: Competitor descriptions Identify multiple competitors and study their marketing

strategies

Compare competitor strategies to your own

Create new marketing strategies that may mimic others’ strategies, or discover more effective ways to attain better results

Page 10: Business to Business (B2B) Marketing Audit: What is it and how is it done?

OTHER RESOURCES

For more information on B2B marketing audits, see these helpful sites:

http://www.sprintmarketing.com/b2b-marketing-audit/

http://www.bma-nj.org/blog/8-steps-for-conducting-a-marketing-audit/