February 8, 2023 - As an insurance agent, it’s essential for you to create a detailed marketing plan every year to help you keep your business on track and realize your goals. A detailed insurance marketing plan can make a difference in your annual ROI and may lead to new opportunities you never considered. Although no two agencies are the same, we’ve come up with five useful strategies for developing a new marketing plan!
1. Analyze Yourself & Competition
Before you build your marketing plan, take some time to analyze your company’s Strengths, Weaknesses, Opportunities and Threats (SWOT). This is a great way to map out where your company stands and any challenges you may face before you dive too deep into a marketing campaign. You should also see what other insurance companies in your target area are doing and identify any of their weaknesses and strengths.
Make sure to check out different insurance companies’ websites and social media presences, as well as online reviews. Take note of what their strengths and weaknesses are to help you better understand your target markets and fill any potential marketing voids.
2. Set “SMART” Goals
Every marketing campaign has goals, but you’ll want to ensure your goals are “SMART”:
- Specific – Clear & well defined
- Measurable — Progress is quantifiable
- Achievable — Goals are accomplishable
- Realistic — Relevant and within reach
- Timely — Clearly defined start and target dates
Setting unrealistic expectations will ultimately hinder your success and waste time and money. By incorporating SMART goals in your marketing plan, you and your team will be able to hold yourself accountable and stay on track for success.
3. Create Engaging Content
Whether your marketing strategy involves paid search or social media campaigns, you should always make sure your content speaks directly to the needs of your target audience. While your tone and messaging may vary depending on your target market, it should always have a call to action that creates a sense of urgency.
4. Establish a Detailed Budget
Marketing your agency will cost money, especially if you plan on driving most of your strategy through paid search. Before you commit to your marketing plan, research how much each component may cost. One way you can organize your marketing budget is by segmenting it into specific areas of focus, such as digital and social media ads, business listings, content writing, print ads and other traditional marketing, outreach events, etc.
5. Use a Digital Marketing Agency
You’ve got enough on your plate when it comes to figuring out your marketing goals for your agency. Consider bringing Melon Local into your marketing plan to help with your digital marketing needs, including paid and organic search, business listings and social media management. Schedule your free demo today to set your marketing plan up for success!