Competition is stiff in the insurance industry, so a solid, effective marketing plan can give you a competitive edge and help grow your business. As you look for a marketing organization to handle your company's promotional activities, it is important to find one with experience and in-depth industry knowledge. Do not rush the process. Take time to interview each organization and perform background research to determine which is a a good fit for your company.
Instructions
1. Make a list of priorities. Consider issues like location, price, capabilities and experience in marketing insurance projects. If you are new to marketing, you may want to hire a company based nearby to enable in-person meetings with your team; if you are comfortable with telephone and online communications, this may not be as important. Your list will serve as a guideline for evaluating each marketing organization.
2. Create a long list of marketing organizations. Start with firms in your area, and ask for recommendations from other businesses and contacts. You might send an email to your close business contacts, or have a staff member conduct a phone and Internet search. For each company, list the website URL, basic contact information and main selling points. Rank the companies on your long list based on your initial research and personal recommendations.
3. Write a basic request for information and send it to the top five to seven companies on your list. In the request, which you can send via email, include the size of your organization, the current status of your marketing and any major goals you want to achieve. Ask that each company send you further information about its services, with a focus on the types of work it would do to promote an insurance industry. Marketing firms are used to sending packets of work samples and a general introduction to the strategies they would employ for a new customer.
4. Review the materials from each of your top marketing organizations and eliminate any that are immediately unsuitable. Contact the top three firms and ask that they develop a proposal for marketing activities for your review. At this point, a quality marketing firm will need to ask more questions about your business goals, customers and existing strategies; a firm that has no questions is not likely to be thorough. Meet with the three firms, allowing each to make a presentation.
5. Judge the firms based on quality and depth of presentation, experience in insurance marketing, price, innovation and creativity of ideas, understanding of your audience and the fit of personality and styles. Look for a firm offering a clear return on investment, a solid timetable and a grasp of your business needs. Choose the marketing organization that fits best with your insurance company.
