April 1, 2021 - It’s official! We’re now in Q2 of 2021. Where has the time gone?! Now that quarter one is behind us, it’s the perfect time to reflect on the performance of insurance marketing campaigns past.
Here at Melon Local, we provide our clients with monthly updates on their insurance marketing campaigns. However, it’s important to remember that some campaigns take a little more time than others to yield results (such as search engine optimization). Looking at data from an entire quarter can help you identify trends you may not notice with a month’s worth of numbers. Quarterly reviews can also inform your strategy for the upcoming months.
In the spirit of spring, we think it’s time to do a little spring cleaning… digital marketing style. To determine which of your strategies are working and which may need the boot, ask yourself the following questions:
How many overall leads did you earn?
Every new customer was once a lead. Logically, the more leads you have, the more customers you can earn! So, let’s start by gathering data on the total number of leads earned in Q1 from all sources, such as PPC, SEO, referrals or any other lead generation effort you’re engaging in at your agency. Then, we’ll evaluate the final tally.
Insurance Marketing Tip
While digital insurance marketing is an excellent way to generate leads, we understand it’s likely not the only method you’re using at your agency. For more traditional marketing strategies, like word-of-mouth, you’ll have to put in a little extra effort to determine the performance of these types of tactics. We suggest making it common practice to ask leads how they found your insurance agency, so you know what’s working and what’s not.
Where did those leads come from?
Now that we have a total number of leads, let’s look a little closer. Which of your campaigns produced the most leads? Did one campaign or strategy far out-perform another? Homing in on which strategies are working best can tell you where to put your energy (and budget) in Q2.
How many sales did you close?
Not all leads are created equal. It’s better to have fewer, quality leads than to have a huge pool of leads that won’t convert into customers. If your insurance marketing campaigns aren’t targeted correctly, you could be wasting your time and resources on leads that aren’t eligible for your services. For example, if you don’t limit your PPC ads to your region, you could end up paying for the clicks of someone in Montana when your agency is located in Massachusetts!
One way to determine how well your campaigns are targeted is by tracking the ratio of leads that have turned into customers.
Did you stay on budget?
Did you find yourself paying more for clicks than you had hoped? Or did you come in under budget? Determine which lead generation effort is giving you the most bang for your buck.
Did you meet your quarterly goal?
Goal setting is integral to your insurance marketing strategy. By setting attainable, measurable goals, you’ll be better able to assess the effectiveness of your campaigns. Review your insurance marketing campaigns’ overall performances and compare them against the goals you set at the beginning of Q1.
Let Melon Local Do the Dirty Work
Insurance marketing is hard work, but we’re up for the task. Reach out to Melon Local to learn how we can help you create effective marketing campaigns that get results.