The investments in digital marketing is increasing, and is expected to reach $300 Bn in 2020. The spends are increasing across the board, media, content, technology, social media as well as people. We estimate that over 30% of the investment doesn’t see the light of the day due to the complex & murky digital marketing ecosystem. Our audit service helps businesses identify this wastage & help improve the utilisation of it.
In less than a year of operations, we have been able to identify over INR 60,000,000 in wastage across retail, FMCG & BFSI segments, via our audit services.
Audit is a five step processes, which is structured to evaluate your data against your business and marketing objectives. In this process, we are also able to question status quo and help brands in redefining the KPIs & objectives.
We analyse the data that is gathered across all platforms including but not limited to Process, Media Reports, Campaign Reports, Website & Mobile Analytics, Technology Stack, Ad-tech Stack, Audience, Competition, People, Internal Reviews. The Information Gathering process would be a combination of interviews, observations, reports, analytics access, access to tools, etc. Once all the data is gathered, it is ready to be analysed or evaluated against the objectives.
The data evaluation is closely linked to the stated objective. If the objectives are wrongly set, then the exercise will not yield any particular result. Combination of stakeholder interviews & observation of current process/templates will help us understand the metrics on which the data can be evaluated. We are able to evaluate the information that has been gathered in the previous process against
- Organisation Goals
- Audience Expectations
- Industry Benchmarks
- Best Practices
- Historical data
- Audited data pool
This part of the process helps us in identifying the key challenges.
Identify Key Issues
During the data evaluation stage, we are comparing the business’ data with the most relevant data set basis the objectives. This helps us in identifying key issues that the business is facing. It can broadly divided into the following heads
- People led
- Process led
- Media led
- Analytics led
- Ad Fraud led
- Technology led
- Content led
- Sales led
- KPI led
- Audience led
Test & Assess
Once the key issues are identified, we go back to the evaluation criteria & cross check if the issue is related to wrong KPIs/ Objectives or Campaign Set up. This will help the business is re-evaluating their own KPIs and align the same with what digital marketing can and cannot do.
Summarize: All the findings are presented to the key stakeholders including our recommendations on various improvement process that the business can initiate for better utilisation of the investments on digital.
What can brands expect from audit?
We help business answer the following questions, which has always been left answered
- Is 100% of the digital media spends been utilised?
- Where is the business losing money?
- Why is the business losing money?
- How is the business losing money?