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What good is a brand audit?

Branding Business Graphic Design

A brand audit is a proactive and crucial step for any company in order to face its biggest challenges and improve its performance. These can be internal or external, and we should monitor our business closely in order to be aware of what’s happening and take corrective measures when needed.

The four primary aspects of business to perform an audit are:

  1. Current look and feel
  2. Clients
  3. Competition
  4. Employees

This is where you can find the most relevant data to use for effective analysis.

Data is the fuel for all successful businesses. This means data is vital in virtually every industry. When it comes to analyzing, organizing, and presenting information in an effective way, Excel spreadsheets are the most important tool.

Your businesses needs to produce or identify data to analyze. There are many different kinds of data and each one has its own strengths and weaknesses.

What does data really mean?

Data is anything recorded. It’s information that has been captured with the intent of meaningful interpretation. Data can be found in many forms such as numeric values or text. There are many different types of data and there are also different ways to collect it, such as with a survey or by measuring statistics.

For example, there’s demographic data, which is about client’s backgrounds and their characteristics. There’s also transactional data, which is the records of transactions that have happened, such as how much you spent on an online purchase or any other kind of financial transaction.

Data is data. Get it in many forms. And have it collected by many different companies and people. As there are many ways to collect data, what is most important is to keep your data smart.

Actually, S.M.A.R.T.:

Specific

Measurable

Achievable

Relevant

Time-based

A brand audit is an essential tool in the business world. It enables companies to have a good understanding of their strengths, weaknesses, opportunities and threats. Through this analysis, companies can evaluate their current position and develop strategies for growth.

Learn more about HIARKI DESIGN Co.

Contact HIARKI DESIGN Co. at hiaki.com/contact when you’re ready to discuss the next steps for your brand.

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