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

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

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  • 1. B2B MARKETING AUDIT WHAT IS IT AND HOW IS IT DONE?
  • 2. 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.
  • 3. 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
  • 4. 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
  • 5.  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
  • 6.  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
  • 7.  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
  • 8.  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
  • 9.  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
  • 10. 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/