The Benefits of Conducting a Marketing Audit

Posted on December 25th, 2020 by nms

Insurance agencies rely on online marketing to drive business growth. Insurance digital marketing is a critical aspect of modern business, helping to attract new customers and to boost revenue. Unfortunately, marketing budgets are tight, and insurance agencies want to get the most from their investments. How can agencies ensure their efforts are producing the desired results? Conducting a digital marketing audit can reveal opportunities and can allow agencies to make informed decisions about their insurance digital marketing strategies.

What is a Digital Marketing Audit?

Most business owners are familiar with audits. Audits review the operational aspects of a given company in order to identify strengths and weaknesses. A digital marketing audit for insurance businesses works in the same way, giving agencies an overview of what is working and what can be improved. In simple terms, a digital marketing audit highlights the positive in insurance digital marketing initiatives and pinpoints areas where negatives are interfering with the desired results.

The Components of an Insurance Digital Marketing Audit

Before conducting the audit, it can be valuable to gain an understanding of the components within these audits and how they work together to strengthen the overall picture. There are four primary components of an insurance digital marketing audit:

  1. Compare operational goals with the direction of your existing marketing strategy.
  2. Evaluate data and performance metrics to see what is working and what is not.
  3. Review online marketing channels to identify their positive and negative aspects.
  4. Discover opportunities for improved engagement and growth of your online audience.

Ultimately, your insurance digital marketing audit will tell you whether your efforts are producing the results you want. Better yet, an audit serves to identify areas that need revision, repurposing, or reimagination.

Goals vs. Marketing Strategy

The first component of a digital marketing audit is centered on the goals your agency has in its marketing strategy. Do these goals align with your current marketing efforts? Setting goals before embarking on a marketing campaign is of critical importance; these goals form the foundation upon which the entire campaign is built. Goals can be broad – such as improving general online visibility – or they can be specific, like improving engagement on a particular social media platform. When comparing your goals to your existing strategy, consider:

  • What are your specific goals?
  • Do you have the tools needed to achieve those goals?
  • What are you currently doing to achieve those goals?
  • Is what you are currently doing bringing you toward those goals?

The answers to these questions reveal the direction of digital marketing campaigns and begin to pinpoint strengths and weaknesses within that campaign. Setting your strategy to align with your established goals also adds focus to the marketing team, allowing them to concentrate on fine-tuning the campaign to produce the desired outcome.

Evaluating the Data

Performance metrics are a valuable aspect of insurance digital marketing. Reams of data are available to marketers, including website traffic patterns, engagements, time-on-site, and dozens of other data streams. To determine what is and what is not working, it is time to explore available data.

Data can reveal patterns. For example, if you find that visitors are bouncing from a given page after only a few seconds, there may be something wrong with the page; it could be nonfunctional, or it may not contain the details visitors are looking for. On social media, click through rate (CTR) is an important metric. If social media followers are not clicking through, marketers may wish to try more prominent links or descriptive text to improve CTR. Finally, data analysis can pinpoint specific keywords or phrases users are searching for. Adding those keywords into social media posts and web content can tip the scales toward more positive results.

Leveraging Online Marketing Channels

In years past, companies relied solely upon their websites as a means of attracting new customers online. With the rise of social media, new channels have opened the door to incredible opportunities for engagement. Insurance digital marketing strategies that do not incorporate social media into campaigns. are missing the boat.

In your marketing audit, use the tools provided by platforms like Facebook, Twitter, and YouTube. These tools allow marketers to see exactly how people are engaging with posts and can reveal new techniques or ideas to improve engagement. An audit may reveal that tactics like paid ads or promotional posts that can have a positive influence on CTR and conversion; with this information, marketers can adjust your social media presence accordingly.

A Growth Opportunity

Insurance digital marketing audits are at their best when they reveal ways insurance companies can make the most of their marketing budgets. This is perhaps the audit’s greatest benefit: focusing on cost-effectiveness. Audits can uncover new methods for attracting a new audience and converting them into customers. At their best, digital marketing audits streamline and support marketing initiatives, helping insurance agencies unlock new business opportunities and growth.

About Agency Tsunami

Agency Tsunami is the digital marketing division of Neilson Marketing Services, who has provided the insurance distribution sector with innovative marketing and communication solutions for over twenty-five years. With our Agency Tsunami program, we have implemented an integrated marketing strategy that includes optimized, professional websites supported by high-quality SEO and Social Media for hundreds of insurance retailers and wholesalers. Our goal is to help your insurance business perform and generate new opportunities. Give us a call at (800) 736-9741 to learn more about how we can do that for you.