A well thought out marketing plan can make or break an insurance business.
We all know that if we want to grow a successful insurance agency, we need to have a steady stream of leads to work and follow up. To do that, you need to always have a marketing plan. Yes, you need to plan to be successful, but surprisingly, not too many people do that. Planning is strongly advised in your business and personal life, but for this article we are covering the value of having a marketing plan for your insurance agency.
One of the most important things to constantly do is test, test, test and then test again. We mean test all of your marketing methods. Your idea might be terrific but if you do not measure/test it small, you will never truly know if it would work large. Start with a small test and gauge the responses to see if it has the potential to work or not. So, that means test your ad copy, incentives to buy, headlines and other content.
No, you do not test it all at once. You test it one idea at a time. If the first item being tested needs a change, then only make one change. If you do not do it that way, you will not know what is working and what is not. Here is a quick list of what to be testing, constantly: different response forms, various headlines, different guarantees, various newspaper/billboard ads and test different offers. The list is endless, so make sure you have your list ready to go and stick to it.
What niche are you intending to market in? If you do not know, it is time to get smart and use target marketing. First figure out your niche – say Medicare/Medigap or final expense insurance, then target that market into segments. Segments can include: spending habits, demographics, shopping patterns, goals, etc. You can segment your order for leads to cover the various areas you want to target.
Once you are set up with your marketing plan for success, you will need to monitor the progress of your strategy. When needed, you might have to adjust and alter your strategy in order to obtain the results you are seeking. From there things are going to go smoothly on the road to growing a thriving insurance agency.