Marketing audits for small businesses should be done annually.

When was the last time you performed a marketing audit for your small business?

Ask yourself the following questions:

  • Do you know what your monthly web traffic?
  • You know which web pages are driving the most traffic and why?
  • How are you doing relative to your competitors?

If you don’t have those right at your fingertips you should go through a marketing audit soon. You’re missing a lot of low-lying fruit and you might have a couple of blind spots.

Can you predictable tell me that your 90-day forecast is within +/- 10 percent? If so, you are doing great. How about +/- 5%. Can you do that for every gate in your sales funnel? Like a demand waterfall?

Although Matrix marketing Group suggests doing a 360-degree marketing audit, these can be broken down. Marketing audits like digital marketing audits.

You must know what your process is and the metrics in every section across your sales pipeline. If not, you better learn to. Your marketing audit will uncover the gaps in your marketing strategy.

There are tons of marketing audit template and marketing audit template’s out there but we have married 130 data points in 10 categories with live feedback.

What is a small business marketing audit?

Marketing is crucial for small business success. It is a no-nonsense guide for how to do a marketing audit so you maximize your marketing budget.

How Many Leads Do You Need to Reach Your Sales Goals?

Calculate How Many Leads You Need to Reach Your Revenue Goals.

Marketing audit definition.

marketing audit is a thorough review of your marketing plan, objectives, strategies, and the current activities being executed in your small business. The goal is to see what’s working and what isn’t so you can identify areas for improvement.

How can you predictable tell me that your 90-day forecast is within +/- 10 percent? Click To Tweet

You have to review your whole revenue model periodically. Now you are surely moving to the bottom of your sales and marketing funnel. When was the last time you did that?

If you don’t have your revenue model mapped out, you must begin there. But wait. Before you do that, you must understand how your target customer will enter and progress through the buying decision and what part your brand will participate in. 

After performing a 5,452 marketing audit this year, 2019, we uncovered that 74.1% want to generate more leads. These companies do not have enough to sustain a steady pipeline without substantial direct sales and advertising. 

leads marketing audit
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Matrix Marketing Group

After generating leads, lead conversion is a top priority going into 2020, with 86.6% of companies focusing on website conversion and overall lead conversion. Two primary issues are exposed here:

  1. Web traffic is not high quality 
  2. On-page SEO must be reviewed for bounce rate

The marketing audit for small business will show how you are doing with your MCL and MQL and how well they convert to sales.

converted leads marketing audit
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Matrix Marketing Group

Did I mention, this is not linear and add in a few different channels and throw in an e-commerce site and you are looking at omnichannel marketing. Sure multi-channel marketing will work, but it’s not connected to your other channels.

Next, you need to evaluate the performance of your various marketing activities, identify the winning ones, and eliminate or — modify — the ineffective campaigns. In this section, we will review some metrics to monitor and suggestions for refining your internet marketing strategy.

Identify Opportunities with a Marketing Audit

marketing audit small business
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When you review your marketing activities, figure out what you want to improve. 

  • Do you want more web traffic?
  • Do you want more people coming to your blog?
  • Do you want to convert more of the visitors on your home page into leads? 

Get into the mindset of continually looking for new opportunities. The marketing audit for small business will turn up your low hanging fruit.

Set a Metric for Your Marketing Success.

In almost all cases, your metric should be quantifiable and involve a set time frame. 

For example, “Increase website leads by 127% over the next 90 days.”

You must understand your marketing and sales goals and objectives. What are your visitors to leads (MQL) capture ratio? How many of those visitors come back? How many purchased from you? How many are active in your pipeline?

This marketing leads calculator will help you with your marketing funnel and sales pipeline.

Refine Your Marketing Strategy.

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Your marketing strategy has to be subordinate to the corporate strategy, and therefore everything the marketing plan contains has to be compatible. To achieve this is to have a mission statement for both the organization and the marketing department.

Unfortunately, the value of these statements has been undermined because the mission statements have become favorite terms for politicians, and the comments are used to express in an anodyne way party objectives. In reality, the creation of a mission statement, however unfortunate, connotates it is a most valuable and practical activity.

As a college prof, I ask my students on the first day of math. Why are you taking math? Typically, answer, I have to. Then I step in and say what the semester is all about and math. I expect them to exit from my class not memorizing formulas and reverse engineering math problems. That’s easy.

I want them to be able to understand the number, where they came from, and what impacts their actions may have to change that outcome. It is that simple. 

Now can you analyze how your programs performed in the last quarter? Last week? Today?

If you know this you can make changes to achieve your marketing goals by doing less of what doesn’t work and more what works.

73% of CEOs think Marketers lack business credibility and are not the business growth generators they should be. Click To Tweet

If you are running an e-commerce website about 1 to 5% have an intent to purchase something. So let’s walk through some math.

You’ve just launched your new eCommerce website. The website looks beautiful. Pricing is right on target. But after about three months you’re wondering why sales are not coming in as rapidly as you might have thought. so let’s walk through some simple math.

Your product sells for $300 each, your monthly web traffic is 1,000. If you have a 3% intent to purchase rate and 70% cart abandonment. How many will you sell with a 30 day period?  

  • Monthly web traffic = 1,000
  • The product sells for $300 per month 
  • 5% of the visitor purchase
  • 70% abandonment rate

Share your figure here: @mmgtweets. Okay, the answer is at the end of this post.

CEOs and business owners have lost all patience in marketing. A trend has been going on for years. In a study by the London-based Fournaise Marketing Group stated that 73% of CEOs think Marketers lack business credibility and are not the business growth generators they should be. Ouch. 

Sound familiar? If so, you are in trouble.

But you can fix it.

How Many Leads Do You Need to Reach Your Sales Goals?

Calculate How Many Leads You Need to Reach Your Revenue Goals.

Marketers today are far from being able to demonstrate how the marketing strategies and campaigns they deploy grow their organizations? top line in terms of more customer demand, more sales, more prospects, more conversions or more market share.

We have seen this over and over in many small businesses. They do not have a marketing plan (how about micro-plans?)?at least, not a documented plan that they can use to execute and measure marketing success on a monthly basis. 

While some small business has a marketing plan, they may not have identified operational strengths and weaknesses, and established performance standards that can be benchmarked then tested.

So it doesn?t surprise me to read a report like the one from the Fournaise Marketing Group. A marketing audit for small businesses turn-up some significant issues and opportunities.

There are three primary gaps we have observed over the past 17 years. These gaps are in marketing talent, marketing technology, and marketing strategy.

The shortage of digital talent has been going on from years but it can be seen in the right brain – left brain argument. The left brain folks can?t understand tech and vice verse. This is not true. But the shortage is real. I?ve used micro-training to boost skill sets and carve time out for your staff.

If you allow your marketing staff to take time out for training, your investment, it will pay-off in the long-run and help with retention rates. But more important you keep training staff but your marketing efficiency and effectiveness go up.

25-40% unmet demand in talent base: skills in AWS IoT, Cloudera, Docker, Kubernetes, Pytorch. Click To Tweet

It’s no secret the college and university are not kicking out that talent. I know I teach it.

There is a clear talent shortage in the US, and this is particularly true of specialized skills, which are at the center of the competitiveness of the US economy. 

A marketing audit is a method Matrix Marketing Group uses for identifying and realizing underutilized marketing resources.

Those who have attempted to undertake a marketing audit well know that all too many questions ask not of themselves yield information which will lead to practical and profitable actions.

For example, the answer to the question, does management recognized the importance of designing the company to serve the needs & wants? Is the target market right? Is my marketing messaging getting a response?

It is difficult to translate into immediate practical recommendations with a marketing audit. 

So where do you start? 

It all starts right here with a marketing audit for small businesses. Your marketing audit for small businesses is the most important part of your marketing plan and occurs before your marketing plan is even written. 

A marketing audit for small businesses is to the marketing department what a financial audit is to the accounting department. It offers a comprehensive review of a business’s marketing environment, objectives, strategies, and activities. In particular, it helps you examine your company’s marketing effectiveness. 

The results of the audit become the blueprint for strategic decisions and for future marketing plans.

The marketing efforts in most businesses, large and small, can always be improved. In fact, in most companies, their marketing programs are damaged, and in need of repair. 

This is always true whenever a company hires a new marketing manager, sales are down, the company’s current marketing activities either are not working, or not executed well, or in a timely manner.

Below you can review marketing audit sample reports.

How to do a Marketing Audit Examples for Small Business in Simple 6 Steps

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There are six steps in the marketing audit for small business processes. Whether a complete or mini-audits are conducted, these steps remain the building blocks of the process.

How to Perform a Marketing Audit

  • Assign Auditor(s). Total objectivity is one key to the success of a marketing audit for small businesses. If you are the main architect of your marketing plan, you should not do the audit. Find associates who you respect to audit your plan. This could be an internal or external person(s), or both. Make sure whomever you choose can be candid, honest, and constructive.
  • Decide when the audit will be conducted. A Marketing Audit should be conducted annually. However, it can also be done when there are major management changes as a way of showing the current conditions of marketing.
  • Determine which areas will be audited. There are no hard fast rules regarding how a Marketing Audit must be. As a rule of thumb, the Marketing Audit should be as complete as it is necessary to identify neglected and under-use marketing resources.
  • Develop Marketing Audit forms. Use your audit criteria to develop a template you can provide your auditors. For each of the marketing plan sections you are testing, create questions meant to assess the completeness and effectiveness of that section. For example, in goals, you might ask, Are the business, sales, and marketing goals defined clearly? and can each goal be measured and tracked? Make sure the template is comprehensive, easy to use, and includes a scoring system to determine the overall readiness of your marketing plan.
  • Implement the Marketing Audit. There are several implementation decisions that must be made. These may include the timing and duration of the Marketing Audit, the level of awareness that the staff will have regarding the audit, how and when the audit is to be performed, and in what format the final report will be prepared. The audit can begin.
  • Present the audit results and translate them into action. When data collection is complete, the auditor(s) analyze the results and develop recommendations based on your marketing goals and our best practices. These should include a visual and verbal presentation that shows the major findings and recommendations with specific actions you can take to increase your ROI program efficiency and effectiveness. The results are also summarized in a final written report. Upon conclusion, it can include a recommendation that sets a course for a new company direction.

Following this process, you will ensure you have developed what will be on your way to creating a successful marketing plan. 

Make sure you go into the process with an open mind and are objective. You do not have to take every recommendation from the audit results, but if you do not seriously consider each, you are risking your company’s marketing potential.

Once you have evaluated your company’s previous startup marketing plan and its sales results, you are now ready to focus on developing your company’s new marketing plan. 

Let’s Look at Some Marketing Audit Examples for Small Business

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Here are some observations from 5,724 startup and small business submissions over the past 3 years. We sorted and parsed the data and found that most small businesses are looking for more sales leads and better lead conversions. These marketing audits for small businesses reveals some interesting facts.

Generating quality leads from marketing activities was high at 66.7% (3,818).

Marketing audit data
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Matrix Marketing Group

80 percent (4,579) of the respondents wanted to increase its conversion ratio (MQL to SAL)

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Matrix Marketing Group

The marketing assessment covers 130 data points so nothing is left to chance. The assessment will uncover marketing activities that need to be improved and activities that need to continue.

Take this FREE Marketing Audit right NOW and get results back in 48 hours.

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Are you not getting the results you had hoped for with your current marketing agency? Let the experts at this digital marketing agency in Denver, Colorado help you generate more web traffic, convert more leads, and close more sales. Our team knows just what it takes to build and maintain a proven marketing strategy that drives high-quality leads. For more information, check out our digital marketing services or contact us to schedule a free consultation to discuss your needs and our services.


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General FAQ’s for a Marketing Assessment

What is a marketing audit?

A marketing audit is a thorough review of your marketing plan, objectives, strategies, and the current activities being executed in your small business. The goal is to see what’s working and what isn’t so you can identify areas for improvement.

What is the purpose of a marketing audit?

The purpose of a marketing audit is to identify whether any marketing activities could be more effective. The company may carry out the review themselves or with the support of a marketing agency.

What are the components of a marketing audit?

The componen ts marketing audit, there are six components a marketing audit such as marketing environmental audit, marketing system audit, marketing strategy audit, marketing organization audit, marketing productivity audit, and?marketing?function?audit.

What is the importance of a marketing audit?

The function of a?marketing audit?is to identify two critical sets of data insights: strengths and weaknesses. Performance weaknesses give any business owner the insight needed to determine areas of improvement. Performance strengths are the exact opposite. They show what is currently working and driving?marketing?success.

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