Online or Real World Marketing: Where Should Your Advertising Dollars Go?
Creating an advertising budget can be very confusing, especially for new agencies. While seasoned professionals can hire third parties to conduct research or can compare years of data, new independent agents don’t always have access to these. There is a constant push for agents to spend money on digital marketing, but having a strong local presence is a must for agents. Use this guide to help you decide where your marketing dollars should go, even if you haven’t invested anything yet.
Trial and Error Marketing
Before you begin, it is important to understand that most marketing is trial and error. When it comes to digital marketing, you will have access to real time data. This data can help you figure out what works and what doesn’t. If your digital marketing efforts are bringing in plenty of business, you might need to invest very minimally in traditional marketing. Don’t be afraid to adjust your marketing budget on the fly as you discover what works best in your community.
Online Marketing Can Be Affordable
Never completely ignore digital marketing. Having a website, blog, and social media profiles are incredibly valuable. While several marketing companies are available to help your agency get started, most of these tasks can be learned. Mastering social media marketing and basic web design, for example, can cut advertising costs significantly. This reduced cost makes digital marketing a practical choice for new agents.
Traditional Advertising is Costly But Effective
If you want to establish yourself within a community, you need to make yourself well-known. That means getting involved with the local Chamber of Commerce, networking, or sponsoring events. Traditional advertising, such as taking out an ad in the local newspaper, can also be an effective way to promote your business.
Creating the Perfect Marketing Budget
For a new agent, the focus should be online, but only after investing in excellent signage. Make sure to budget for some networking events or groups. Then, take the remaining budget and invest in a great, easy-to-maintain website. Establish social media accounts, and if there is anything left, start an online advertising campaign.
Resources for Independent Insurance Agents
Affordable American Insurance wants to see every one of our independent agents succeed. To learn more great marketing and budgeting tips, please contact us today.