How Often Should You Review Your Marketing Strategy?

A good marketing strategy is essential to elevating your independent insurance agency into a quality business that is focused on reaching your ideal client base and target demographic. Not only should a marketing strategy be definitive, but it also needs to be actionable and measurable. Putting your marketing strategy into play is the first step; the second is to review your marketing strategy consistently to evaluate and revise your marketing efforts.

We're going to break down your marketing strategy into three categories, and give you our recommendations for when to review each: 

• Long-term marketing strategy
• Short-term marketing strategy
• Market & industry changes

Long-term marketing plan

Review your long-term marketing strategy quarterly to assess whether the goals you’re trying to achieve as an independent insurance agency are being achieved. It gives you an opportunity to refine the strategy and make any necessary tweaks. Long-term marketing strategies tend to be ongoing and constantly evolving. Without regularly auditing the success of your long-term marketing efforts you'll be wasting time, money, and resources on guesswork. 

If you change your business plan, like shifting your focus to a new targeting a new demographic, and introduce new products and services, you need to ensure that your marketing strategies reflect these changes. 

Over time, you'll be able to compare data for the same quarter over several years, gaining even more insight into your progress, growth, and success. The analysis will make future marketing strategies stronger and more effective. 

Short-term marketing strategy 

Short-term marketing strategies have a beginning and an end, which makes it fairly easy to figure out when you should perform a review. Campaigns often give you the best insights because they have short-term specific goals that can be quickly analyzed and evaluated. Don't just base your review on success or failure. Evaluate which elements worked and which didn't, how your target audience responded to the campaign, and whether the campaign was effective in meeting your objectives.

What you learn from a campaign should be incorporated into your long-term marketing strategy and future campaigns. 

Industry changes

Whenever there are changes with the insurance industry, market rules, or regulations that could affect your agency’s productivity, it’s time to properly review your marketing strategies. Let’s help you refine your marketing strategies for your independent insurance agency.

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