Methods of ensuring digital due diligence have evolved. Global online markets have shifted towards companies with digitised business models.
Due diligence is no longer focused on short-term performance but rather future-proofing the resilience of a digital asset. Online businesses that wish to survive in the current trading environment must leverage up-to-date due diligence practices.
This guide will outline how your online assets could benefit from due diligence and how to ensure digital due diligence.
Digital due diligence meaning
Digital due diligence is an evaluation of a digital asset setup and performance. The purpose of digital due diligence is to provide a holistic and unbiased analysis of the factors that influence KPIs, such as technology, staff, implementation, and reporting.
Who can benefit from digital due diligence?
Startups, mergers and acquisitions, and existing businesses looking to expand can benefit from digital risk due diligence.
For example, following the acquisition of an online entity with a global audience, questions such as whether the website is structured for the countries served and whether the correct languages have been used (as opposed to relying on Google Translate) can all form part of digital risk due diligence.
Introduction to my Digital Due Diligence
My Digital Due Diligence promises a deep dive into the metrics and reporting tools you use to track the performance of your online assets. We already understand the global audience, and we can help your staff to interpret data and implement changes to boost the factors that contribute to campaign KPIs.
Commercial due diligence
Digital marketing due diligence must include a full evaluation of sales and marketing practices. The process is typically completed over several days and serves to give an in-depth analysis of an asset’s readiness and capability to engage with the target audience. However, many competitor providers of due diligence do not offer commercial due diligence.
What’s the issue?
You may discover that some third-party providers of digital due diligence do not deliver critical perspectives on the current state – and future viability – of the target company’s sales and marketing plan.
Where the final report lacks a structured analysis of sales and marketing approaches, the provider may only be equipped to analyse digital performance and not any accompanying financial or commercial aspects.
How can I tell that sales & marketing have been overlooked?
You will know that sales and marketing due diligence have been overlooked by the lack of quality data on the target firm’s sales and marketing operations. Please see below for a breakdown of common areas of sales and marketing due diligence.
How can due diligence in sales and marketing help?
The team at Gareth Hoyle brings decades of experience in sales and marketing to the sphere of digital due diligence.
Depending on your business type and segment ambitions, you could expect the final report to include information on:
- Sales & Marketing Strategy
How does the current organisational structure support the distribution model?
Do pricing methodologies lend themselves to competitive positioning in SERPs?
What are the means of discerning and engaging with a target market?
- Brand Awareness
How are all external communications handled?
Is the site optimised (and does content meet user intent)?
What are the procedures and principles underpinning the social media strategy?
- Online Lead Generation
How are prospective leads generated and managed?
Are the lead generation tactics suited to the campaign goals?
What is the current Customer Relationship Management policy?
- Sales & Marketing Processes
Are the current sales tactics competitive?
Is the sales team effective in both setup and execution?
Has client management been taken into consideration across all touchpoints?
If you do not understand the reasons behind how and why sales and marketing may have contributed to measurable campaign wins and losses, Gareth Hoyle can help.
See below for a detailed breakdown of how Gareth Hoyle can help train your team in specialised sales and marketing tactics due diligence.
Third-party due diligence training
Your digital due diligence provider should deliver diverse training course options. If you or your staff members do not appreciate how working practices contribute to campaign success, ongoing due diligence training is needed. Remember, due diligence is not meddlesome interventionism but rather a crisis aversion tool.
Third-party due diligence training from Gareth Hoyle could provide you and your team with training and knowledge in the following areas:
- Pre-deal growth assessment
- Growth strategies backed by segment data
- Post-acquisition support – the project management tools you need to succeed
Gareth Hoyle also delivers expert advice and guidance on exit strategies, both in terms of your company being acquired and new portfolio acquisitions.
Digital due diligence checklist
Your marketing due diligence checklist should cover business strategy, people, budget, and channels. What’s important to keep in mind is that no single checklist exists to cover all business needs in a given segment. The work has to be tailored to increase the usefulness of outcomes.
Some of the granular aspects of a marketing due diligence checklist might include:
- What KPIs are in place?
- Who are the main competitors?
- Is there a staffing or skills shortage?
- What can be learned from competitor best-practices?
- What is the customer lifecycle management process?
- Are staff operations and reporting mechanisms oriented towards client acquisition and retention?
- Has the target audience been identified and are the correct channels being leveraged to maximise engagement?
- Are the in-house technology choices relevant and efficient – is the team trained and well-resourced?
Understanding the issues facing a digital asset requires a bespoke deep dive into whether a company can provide a satisfactory answer to the question, “Is searcher intent met with a creative and compelling solution?”.
In answering this question, the benefits of my digital due diligence include:
- Audit of current campaigns and supporting marketing techniques (staff interviews)
- Audit of workflow practices measured against known best-practices, time, and cost
- Audit of budgets and goals – are goals realistic given current budgets and planning?
An in-depth review of workflow practices should include an analysis of technical SEO issues. Where your marketing due diligence checklist fails to intervene on problematic technical SEO factors, your digital asset will continue to inflict self-harm to KPIs and your ROI.
I appreciate that undertaking a full breakdown of business components takes resources that could eat into your time (which could be better spent on achieving core objectives). The choice is clear. Leverage my services and spend your time and staffing resources on steering your company.
Contact me and start the due diligence conversation
I am not here to replace your existing digital marketing team. I am also not here to flag vague indications over a digital asset’s market relevance and performance. I am here to deliver actionable insights derived from relevant metrics and data.
If you’re ready to begin the conversation about digital due diligence before or during an online business venture, contact me today for a FREE initial consultation.