Brand Audit: Is It Good For Business?

On our previous post, we talked about co-branding and collaboration between businesses. One of the most talked collaboration is the Tealive x dUCk Cosmetics for their bubble tea inspired lipsticks, called dUCk Boba Lipsticks. dUCk Cosmetics is under The Duck Group, co-founded by Vivy Yusof who’s also popular for the fashion e-commerce company FashionValet (FV).

Earlier this year, we had the opportunity to work together with one of the local fashion companies for a brand audit study, conducting research to assess their brand presence, consumer’s perception, brand performance vis-à-vis competitors. We had a few rounds of focus group discussions to grasp consumer understanding about fashion, interests, purchase behaviour and perception towards the brands and its in-house brands.

Indeed, brand audit would provide insights to business ascertaining how your brand is performing in the eyes of customers. But, how many of our local brands are actually doing it, or even aware of this brand audit (brand health)?

Credit: Getty Images/iStockphoto

Whether benchmarking against competitors, considering a rebrand, or simply wanting a broader overview of performance and positioning, undertaking an audit can be a valuable company investment. It takes a huge amount of work to stay at the top, but keep in mind that the market landscape will continue to change; it is ever-changing with the current COVID-19 pandemic. Brands need to creatively innovate to stay relevant and ahead of the competition.