The holidays are here. Business is slowing down as people shop, spend time with family and enjoy the festivities. It is the perfect time to take a hard look at your agency marketing and determine where you can make improvements.
Here are four steps to guide you through the planning process and help you focus on making your agency marketing better in the New Year.
- Review Your Current Plan
Do you have a marketing plan? Dust it off, and review your goals and strategies for 2014. Compare how the year actually went for your agency marketing with what you had planned. Did you meet your goals? Did you stick to your plan and forecasted spending? Do you need more or less of a budget? Do you need to focus on other marketing tactics? Do you need to be more flexible in your plan? Don't panic if you don't have a plan. I wrote a blog post about how to create an insurance agency marketing plan that will help you write one.
- Analyze the Misses
Look at the performance of each of your marketing projects or campaigns. Compare each with your sales, revenue and retention goals. Which marketing tactics had little or no impact on your business goals? Were they a waste of time? Or could you make a change to improve the performance? Though a marketing campaign may have made little impact, it is not necessarily because it was a bad idea. Sure some marketing campaigns like an ad in the Yellow Pages may be a waste of time (if your numbers say that), but sometimes something as simple as changing the frequency of your newsletters or the kind of content you share on social media can make a difference.
- Identify the Wins
Which marketing projects or campaigns did work? Why did these do well? Did you execute them better? Did you invest the time to make sure they worked? Did you use an outside expert to help you stay on top of these campaigns? If you focused more on those campaigns in 2015, do you think they could perform even better?
- Find the Gaps
Look for what you're missing in your agency marketing plan. Do you have a good insurance agency website? Are you using email marketing? Are you active on social media? Do you automate your lead follow up process? Are you blogging? Are you consistent with your brand across all your marketing campaigns and collateral, including the colors, font and style you use? Do you have a search engine optimization strategy? What are you doing offline to support your online efforts and drive traffic to your website?
Taking the time now to look at your agency marketing and identify what worked, what didn't and what you're missing is worth the effort. It can be tough to see what didn't work especially when you consider your financial investment. But, you are better off when you recognize what didn't work so you don't continue to spend money on those projects or campaigns. Plus, you will have a clear idea of what does work for your agency and can focus your time and budget on those tactics.
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About the Author
As vice president of marketing, Becky Schroeder oversees ITC’s growth through marketing and drives the overall marketing strategy for the company and its products. Her specialties include advertising, social media, email marketing, content marketing and public relations. Becky has a master’s degree in integrated marketing communication from Emerson College in Boston and a bachelor’s degree in journalism from Texas A&M University. Becky is a big Texas A&M football fan and enjoys cooking, reading and spending time with her husband and their three daughters.Follow on Twitter More Content by Becky Schroeder