Marketing is a major component of starting a business. Writing a marketing plan is a realistic and detailed plan of action to position your independent agency in the best light possible and ensure the best client experiences. Your marketing plan is not the same as a business plan, but a section of your business plan.
What to know about writing a marketing plan
Your business plan covers your entire business - mission, vision, and goals - and lays out an organizational plan for a successful strategy for operations and achieving financial objectives. A marketing plan specifically focuses on reaching your ideal clients, signing your ideal clients, and keeping your ideal clients.
Writing a business plan should include:
- Analysis of your current position in the market
- Analysis of your target market
- Marketing and advertising goals
- Marketing strategies
- Key Performance Indicators (KPIs)
Before you can write out realistic and measurable marketing and advertising goals you have to understand your ideal client and your current position in the market. This will help you set realistic goals based on your marketing position. For an agency that has been around for a little while, your market position is based on the strength of your brand and how prominently it is positioned in the minds of your target audience and your community. The more you understand your ideal client, the more easily you can implement marketing strategies that will increase your recognition and awareness in your local market, and strengthen your brand position, aka. market position.
Once you understand where you are, it's time to set your goals. Be specific. If you want to increase your market share, reach and engage with more local clients, and drive more traffic to your agency be sure to set attainable goals, write down a number that you believe is achievable within a given timeframe.
Marketing strategies
Now that you have set measurable goals you need a plan of action; implementing the right marketing strategies to achieve your goals. Marketing strategies may include, but are not limited to:
- Implementing a client referral program
- Join Networking Groups
- Attend Industry Events
- Digital marketing
- Paid advertisements
Your KPIs (found on AAI's proprietary dashboard) let you know just how effective your plan of action is, and will allow you to tweak your strategies or pivot if you are not reaching your goals by your set deadlines. If one of your objectives isn't working, you need to realize that quickly so that you don't waste time and money on a strategy that isn't effective.
Affordable American Insurance is a network of business professionals and insurance brokers that help independent agents grow bigger, faster, more efficiently. We provide essential guidance to all of our members; a roadmap to success, including writing a marketing plan and implementing marketing strategies.
Need help with growing your brand and writing a marketing plan? Contact AAI today and let’s get started. Join us and request more information.