There are plenty of good reasons to conduct a marketing audit (the On The Mark Strategies proprietary method by which your bank or credit union takes an intensive deep-dive look into its marketing strategies and tactics). However, there are also many good reasons not to conduct a marketing audit at your bank or credit union.

Here are three:

• Don’t conduct a marketing audit because you already know what your competition is doing. If you already know what the other banks, credit unions and non-traditional competitors in your area are doing when it comes to consumer engagement, branding, marketing and experiential design, you probably shouldn’t conduct a marketing audit.

• Don’t conduct a marketing audit because you are already happy with your marketing budget. If you already know how well your marketing budget addresses the rapidly-changing financial products and services marketplace and you are content with the amount of your marketing budget, you probably shouldn’t conduct a marketing audit.

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