How to Make a Marketing Plan for Your Agency

June 27, 2019

A marketing plan is more than just tactics and a budget. It’s a guide to your agency’s marketing strategy. It will help you identify and reach your audience. And, it will define how you’ll connect with clients to retain their business. ITC's SVP of Sales & Marketing Becky Schroeder explains how to create a marketing plan for your insurance agency.

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Transcript

A marketing plan is more than just tactics and a budget. It’s a guide to your agency’s marketing strategy. It will help you identify and reach your audience. And, it will define how you’ll connect with clients to retain their business.

This is how to create a marketing plan for your insurance agency.

Before you get to the fun part of brainstorming marketing ideas, do some research. 

List your direct competitors. What are their strengths and weaknesses? What are the opportunities and threats? This will help you discover your agency’s competitive advantage.

Second, who is your target audience? These are the people most likely to become your customers.

Avoid the temptation to say everyone is your target audience. When you don’t have a clear target audience, your marketing won’t be as effective as it could be. So, focus on a specific group of people. Think of demographics like age, gender, or home ownership. The Small

Business Administration has free resources to help identify demographics of your area. 

Use this competitive research to identify why a consumer would choose you. Your unique selling proposition needs to be clear. Keep it simple and focused on what’s going to bring people to your agency.

The next step is to list your goals. Where do you want to be in the next year? The next five years?

An example goal would be “Have a million dollar book of business.”

Each goal needs objectives, too. Objectives break down your goals down into smaller, measurable pieces. For example, how many leads per month would you need to achieve your goal?

Now for the fun part: Building your marketing strategy and tactics.

Think of strategy as your “why” and tactics as the actions you’ll take. Strategy doesn’t change often. But, tactics can come and go based on technology and trends.

An example of a marketing strategy would be to attract traffic to your website and generate leads. Tactics supporting that strategy would include building an insurance agency website with quote forms. And, to optimize that website for search engines to find and index.

Another potential marketing strategy could be using lead providers to supplement other lead sources and fill your sales pipeline. Supporting tactics would be using a comparative rater to respond to purchased leads quickly. And, Using an agency marketing system to automate follow up to leads that didn’t close immediately.

Now that you have your list of marketing tactics, assign a cost to each one. What insurance agency software do you need to implement your plan? What does it cost?

If this is your first time doing a marketing budget, remember it needs to be fluid. You want to be able to adapt it as the year goes on. 

The most important part of your marketing plan is how you will measure your marketing. How will you know if your marketing is successful?

For example, Google Analytics can track your website traffic. Which report or alert does your website use to tell you when visitors convert into a lead?

Don’t just throw a bunch of marketing tactics into a document. Develop a plan. It will guide you through what to do next when you’re unsure. And, it will help you know when your marketing is successful.

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