The importance of creative audits when defining your financial brand’s challenges

A woman–is–overcoming–obstacles of a forest by zip lining through the trees

Jessica Sims

Creative Strategist

Posted on July 2, 2018

Audits play a crucial role in uncovering the real challenges your brand is facing. They challenge the way you think, encourage team discussion and allow research to flourish. They also do not have to be dull process that is stereotypically associated with the auditing of company finances. Understanding which of the following 4 audit styles to undertake and approaching the discussion in a welcoming environment will achieve the best results.

Behavioural – How does your brand behave? For a brand to be successful, internal and external behavioural perceptions must align. We recommend engaging employees in a friendly interview away from the office, asking questions such as: ‘What do you consider the company’s key purpose to be?’ and ‘What 3 adjectives would you use to describe the company’s ethos?’

Competition – In an interactive group exercise, map your competitors on a spectrum. This visual approach will help you to understand where potential gaps in the market lie as well as highlighting benefits that differentiate you from competitors.

Visual – A visual audit allows you to see where the current perception of your brand sits within the market. For this approach to be successful, honesty and the readiness to listen must be present. We suggest speaking to current customers or organising focus groups to uncover their perception of the brand.

Peer – The purpose of this motivational audit style is to identify aspirational brands outside of your industry and use their achievements as a benchmark for your future goals. Similar to the competition audit, we recommend that this is a visual workshop where brands are physically placed on a spectrum in a forum that allows for open discussion.

Next time you are faced with a branding challenge, why not use audits. You may not have time to complete all of them, but instead select the ones that are most relevant to your brand’s problem and set aside a couple of hours to complete.