Branding and Marketing Your Internal Audit Activity
Presented by Raven CatlinRaven Global Training
…perceptions of auditors…building trust and rapport
…marketing & selling internal audit
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Raven Catlin, CPA, CIA, CFSA
Call me: 571-283-1878Email me: [email protected] out www.ravenglobaltraining.comTwitter: @raventraining
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What Business Are You In?
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Sales and Customer ServiceSales and marketingMarketing and brandingBrand and bondBond and loyal customersCustomer service and satisfactionSatisfaction and partnershipsPartners and improvementsImprovements and value-addedValue-added and branding
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This course is designed to help you…
Build an effective Internal Audit machineBecome a welcomed addition to the management teamAdd value to your organizationHelp management “see the light”Identify your customersCreate your brandMarket your Internal Audit Activity
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AgendaEverybody needs a Brand!Identifying how you want to live in the hearts and minds of your customersHow the perceptions of auditors get in the way of creating your brandBarriers and opportunities to creating and maintaining your brand6 steps to building trust and rapport11 strategies for creating and maintaining your brandUsing advertising, marketing and public relations to create a strong brand with staying power
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Why Market & Sell IA?
Marketing is the management process responsible for identifying, anticipating and satisfying customer
requirements...
Chartered Institute of Marketing
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Everybody needs a brand• Identifying how you want to live in the hearts and minds of your customers• How the perceptions of auditors get in the way of creating your brand• Barriers and opportunities to creating and maintaining your brand
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Your Brand
You are the ‘Brand Identity’You leave a personal signatureKnow your department’s SWOTWhat do others receive?
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What is Your Brand?
IdentityBeliefsValuesBehaviorSkillsEnvironment
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Identity
Who is the Internal Audit Activity? What are we here to be, do and have?
CohesiveConsistentUnique
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Beliefs
What do we believe about the world and do our beliefs support or hinder our ID?
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Values
Are our values reflected in our Beliefs and behaviors?
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Behaviors
What are our core behaviors that support our ID and beliefs?
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Skills
What skills will support to become who and what we want to be?
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Environment
How can we manage things in our environment to support our identity, beliefs, values, behaviors, and skills?
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SWOT AnalysisSWOT Matrix
Opportunities (External Analysis)
Threats (External Analysis)
Strengths (Internal Analysis)
SO StrategiesCapitalize on internal strengths to maximize opportunities.
ST StrategiesDraw on internal strengths to reduce external threats.
Weaknesses (Internal Analysis)
WO StrategiesOvercome internal weaknesses to maximize opportunities.
WT StrategiesReduce internal weaknesses to guard against external threats.
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What do others receive?
Words and attitudeTonalityPhysiology and postureConsciousTake a look in the mirror
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Your Brand Strategy
Conduct a Brand Audit: Answer the questions on the following slidesCreate your strategy, related marketing plan and brand communications planAddress the 4 M’s of Marketing
MarketMessageMediaMeasurement
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The Brand Audit
Research your audit customersQualitativeQuantitative
Know who and what influences your Brand
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What products and services do you provide? What are you selling?
Audits, Investigations, Consulting?Value of internal controls?Tools for risk management?Improved risk response?
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Why will it be hard to sell IA?
We are the enemy!We are going to tell them everything we THINK they did wrong.We are know-it-allsWe are nothing more than the Po-PoWe are the enforcersWe are management’s watchdogWe are only bean counters
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Who are your customers?
Process ownersMiddle managementUpper managementExecutivesAudit committeeBoard of governorsStakeholders
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What are your customer’s expectations?
• Knowledgeable auditors• Thorough review• Minimal disruption• Timely status updates• Fair presentation of the
facts• Objective
• Identify fraud• Minimize losses• Professional• Relevant• Team focus• Realistic• Collaborative
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What motivates your customers?
Making moneyStaying out of jailOthers?
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What’s happens to your customer after you leave?
First, you should never really leaveWhen you deliver the report, you should know the implications on the:
decision teamstakeholder’s agendaclient cultureclient politicsprocesses
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If you closed up shop tomorrow what impact would it have on your customers?
Delight?Devastation?Nothing?Would the house crumble?Would the dust settle?Would they notice you’re gone?
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Where are you now?
Current position (activities, strengths, weaknesses)
Certified staffIndustry and corporate knowledgeMix of services offered
Customers and stakeholders Threats and opportunities Purpose, objective and strategy
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Where do you want to go?
Value-added partnerCreate a plan to close the gaps between where you are and where you want to goBe SMART
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How will you get there?
Ask what I can GIVE YOU!Research their needs Promote product and serviceBe creative and innovativeCommunicate change Create performance measurements Review your quality (QAR anyone?)
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How will you know when you’re there?
Ask have I met YOUR expectations!Inspect what you expect
MetricsSurveysEvaluations
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6 steps to building trust and rapport with your customers
• Trust and rapport• Emotional intelligence
• Influence
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Walk Your Talk: Your reputation
Six steps to building trust & rapportPractice candorBe credibleHave empathyMaintain integrityBe fair and even handedPractice small talk
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Is it all in the ‘name’?
Internal Audit ActivityInternal Audit DepartmentAudit ServicesAdvisory ServicesRisk and Advisory Services
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What about your audit…
PointsIssuesFindingsObservationsOpportunities for improvementReservations
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Choose the right message
MottosIn god we trust. Everyone else, we audit!Identify the key controls and test the heck out of them.
Unique Selling Proposition (USP)Identify what sets you apart from your competitionMatch customer needs and expectations to products and services offered
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Offering the right services
Risk AssessmentAssurance in key risk areasOperational, Financial, Information Technology, and Compliance auditsManagement requestsAssist the external auditorConsulting engagementsFraud investigationsSOX engagementsContinuous auditing
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Emotional Intelligence
Interpersonal skillsRapportLikeability
Interviewing skillsQuestioning skillsNegotiation skillsInfluencing skills
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Influence skills can be learned
This is a necessityConsultative selling approachWe can all benefit from learning to influence, persuade, negotiate, train and sell to others Influence helps in direct selling to clients to coaching, team building, appraising, motivating and leading.
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Influence can help you:
Make your job easierConvert more “hard sells” to partnersFocus on resultsHandle objections
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11 effective strategies for creating and maintaining your brand
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11 strategies1. Be relevant2. Be different3. Deliver value4. Remain assessable5. Establish an emotional connection6. Get organizational support7. Develop a brand strategy8. Launch your marketing plan9. Sell your brand10. Monitor your brand 11. Respond and adjust 42
Sell your Brand
Do your preworkIdentify objections and benefitsFocus on others (WIIFM)Build commitmentLive itBreath itTalk itWalk it
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WIIFM
Be of service to others (not yourself)What can I offer this person?How can I be of help?The more you help them, the more they’ll help you
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Using advertising, marketing and public relations to create a strong brand with staying power
• Networking• Brand loyalty• Staying power
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The Power of Networking
Network like it’s your jobTreat every meeting as an opportunity to networkLook for opportunities to networkMeet and greetGet involved!Stay on their mindObtain working space in their department
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Spread the word…media
Ongoing trainingBrown bag and training sessionsBrochuresAudit charterCompany newsletters“My Audit Space”Company intranetTestimonials
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Choosing the right tools
Audit ReportsPresentationsRotation programsGuest auditors
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Tips for staying power
Always say thank youCome well prepared to every meetingDon’t come on too strongIt’s called relationship building
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