How Motto Reveals Business Opportunities with a 7 Point Audit
Companies must continually reassess their brand’s position in the rapidly changing landscape of today’s global marketplace, where innovation drives competition. The complexity of modern business demands a sophisticated understanding of the brand, not just as a visual or verbal identity but as a complex and dynamic entity that shapes customer perceptions and decisions.
Motto’s 7-point brand audit is designed to meet the needs of the world’s most innovative tech companies, ensuring that their brands not only survive but also thrive in this competitive environment. In this article, we’ll dive deep into why a brand audit is vital, its value, and how Motto’s unique 7-point approach offers companies the insights they need to drive meaningful change.
The Brand Audit: An Imperative for Modern Business
The market is flooded with products and services. The digital age has made it easier for companies to reach global audiences. However, with this increased reach comes increased competition, and the need for a robust and cohesive brand has never been more critical.
A brand audit is a strategic examination of a brand’s current position in the market. It analyzes how the brand’s core components align with the company’s goals and consumer expectations. More than just a superficial analysis, a brand audit delves deep into the tangible and intangible aspects of the brand, providing insights that can lead to transformative strategies.
“A brand audit is a strategic examination of a brand's current position in the market.”
Why Conduct a Brand Audit?
- Alignment with Market Demands: A brand audit ensures that your brand stays relevant and resonates with your target audience.
- Identification of Weaknesses: It uncovers weaknesses that might undermine your brand’s effectiveness.
- Strategy Development: The insights from a brand audit provide a roadmap to develop strategies that can lead to significant growth and brand transformation.
The Value of a Brand Audit
- Objective Analysis: It objectively assesses your brand’s position, separating fact from assumption.
- Actionable Insights: A brand audit identifies actionable insights to drive marketing, communication, and product development strategy changes.
- ROI Measurement: By tracking the effectiveness of marketing efforts, a brand audit helps understand the return on investment.
Introducing Motto’s 7-Point Brand Audit
Motto’s unique approach focuses on seven critical aspects of the brand. These 7 P’s form the foundation of a comprehensive brand assessment designed to uncover insights that lead to meaningful change:
Purpose (the why):
Purpose is the core reason for your brand’s existence beyond making money. It defines what your brand stands for and believes in. We see if your brand’s purpose aligns with your target audience’s values, ensuring a deeper connection.
Positioning (the difference):
This involves evaluating how your brand differentiates itself from competitors. What makes your brand unique? We help you articulate and reinforce those differences, ensuring they resonate with your target audience.
People (the target audience):
Your audience’s perception of your brand dictates its success. We analyze your current target audience’s demographics, psychographics, and behaviors to tailor your brand strategy to their specific needs.
Product (the value of what you sell):
We evaluate the perceived value of your product or service. How does it address a unique need or problem for your audience? This understanding enables you to enhance the value proposition, aligning it with customer expectations.
Price (compared to competitors):
Price reflects perceived value. We analyze your pricing strategy compared to competitors, understanding its alignment with your brand’s positioning, weight, and the market’s perception.
Personality (verbal identity):
Your brand’s voice and how it communicates with the audience is vital. We assess your verbal identity, ensuring that it authentically resonates with your audience and is consistent across all channels.
Presence (visual identity):
Visual identity goes beyond logo design. It encompasses all your brand’s visual aspects, including color schemes, typography, and imagery. We ensure your visual identity cohesively represents your brand’s personality and values.
Case Studies: Transformation Through Brand Audit
To demonstrate the efficacy of Motto’s 7-point brand audit, let’s explore some case studies:
Case Study 1: Aligning Purpose and Positioning
Leading tech company Andela found that its core messaging needed to evolve beyond market perceptions. Through our brand audit, we helped them redefine their purpose and positioning, leading to a 30% increase in customer engagement.
Case Study 2: Revamping Positioning and Product
Hopscotch, a cutting-edge Fintech B2B payments startup, faced naming, market positioning, and product value challenges. The market saw them as another Fintech product rather than a partner for small businesses.
After undergoing Motto’s 7-point brand audit, Hopscotch discovered that its positioning didn’t convey its expertise in creating disruptive technologies. With our recommendations, they revamped their marketing strategy to focus on showcasing their innovative prowess, aligning their product’s value closely with the needs of their target audience. The result was a 15% weekly growth for the first six months and a waitlist of thousands before launch.
Case Study 3: Unifying Personality and Presence
Ninjas in Pyjamas, a top-tier eSports organization, struggled with brand consistency across various touchpoints, particularly their verbal and visual identity. The brand audit revealed that while they had a compelling story and legacy, their positioning, visual identity, and verbal communication were fragmented. Motto led the organization through a global rebrand, helping unify the brand’s personality and presence and creating a cohesive narrative across all platforms. This increased fan engagement by 30% and attracted new sponsorships at a higher value.
A Comprehensive Approach to Brand Success
Motto’s 7-point brand audit provides a holistic approach to understanding and enhancing your brand. It’s more than just an assessment; it’s a partnership driving your brand to new heights. Utilizing our 7 P’s to create a brand that resonates, engages, and leads. The future of your brand starts with understanding where you are today.