3rd Dec. 2019 | Marketing Audit

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When we look at a marketing audit, it pulls together key business information.  What it does for you, is that it give you a clear understanding of your local market, how you fit into it, and how effective your previous marketing has been.

1.  Analyse each market segment you sell into.

2.  Rank your customers in the order of their importance to your business.

• Your top customers are those which account for the most sales and profit - or which will in the future.
• Consider the opportunities to grow customer accounts by selling them additional products in your range.
  

3.  Rank which products (or parts of your business) are the most profitable.

• Once you have accounted for their proper share of overhead costs, some activities may turn out to be loss-making.

4.  Analyse the reasons why customers buy from you, and from your competitors.

5.  Review every marketing initiative you undertook in the previous period, to see what worked.

• Most marketing can be measured.

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Market Route Mapping provides specialist business management, retail marketing, product development and staff training for Hospitality, Retail and Tourism in the UK.
Want to see more from us?  Follow us on social, and for further details please contact Market Route Mapping to arrange a FREE consultation.