An event marketing audit is a review of your marketing plan, objectives, strategies, and current actions of your event business.
The aim is to see what's working and what isn't so you can identify areas of development. A successful audit will help you pinpoint your marketing strengths and weaknesses. By which you can make solid decisions about where to put your resources in the future.
If you don't conduct marketing audits on a consistent basis, you could be throwing marketing dollars out the window. Here are five reasons a marketing audit is a good idea for every event business.
Realign Your Paid Marketing Activities With Your Event Goals
Many event organizers are super concerned with executing the day-to-day responsibilities of running an event that they lose sight of the big picture and the event’s long-term goals.
When this happens, it can be difficult to recall why a specific marketing strategy was implemented. Also, to determine if the marketing team is executing it successfully. This can be social media management, paid advertising, community building, etc.
An event marketing audit is a way to take a step back, return to your event plan, and your event marketing plan. Also, a great way to ensure that the daily activities you are executing support your event goals.
See What Isn't Working For Your Event
A marketing audit will help you explore the marketing activities you are implementing. In addition, it will test if those activities are successful and if you should fix them.
This is a time to look at your event tactics with an objective eye, loaded with facts and data gathered from your analysis. It's an opportunity to make judgment calls on marketing areas where your business is underperforming.
After that, you can make informed decisions about how to improve activities. You might as well use new tactics to achieve more glorious success in your marketing efforts.
Get New Ideas and Find Different Tactics
A marketing audit needs a significant amount of research on your event marketing activities and external factors. The research process may not be the primary reason for conducting an audit. However, it can be an excellent way to discover new ideas for your next event.
For example, during your research, you may find that your competition is doing something you never thought of doing. With a few adjustments, you can develop new marketing tactics with enormous potential.
Know Everything About Your Competition
Successful marketing requires an in-depth understanding of several factors. These factors include your market, target audience, competition. A marketing audit is a great way to find out more about your competition and what they are doing to reach your audiences.
By exploring the strengths and weaknesses of your competitors, you can improve the way you approach your audience. Knowing what they're doing well, will help you plan how to do it better. Therefore, your event can focus on what works and saves time and money.
We All Love to Save Time and Money in the Long Run
You need to have internal audits regularly. Without these kinds of regular checks, you may be wasting time and money on marketing activities with no result.
Conducting an event marketing audit regularly, helps you maximize your marketing investment. Additionally, it makes you focus on the activities that work best for your event. That sounds good, right?
Plan Your Event Marketing Audit
A marketing audit usually involves analyzing all existing event documents for clarity on goals and plans, gathering a list of strategies currently being executed, gathering input from key team members within the event, and conducting research into external factors (competition, market, economy, industry, etc.).
It often begins with a SWOT analysis of your event, which will help you clearly identify your opportunities for improvement. Without a regular audit, you may never know what your marketing dollars are capable of.