How to Reach Your Target Market
Marketing an Excess and Surplus Insurance Business
Marketing an excess and surplus insurance business can be a daunting task for new entrepreneurs. But with consumer demand on the rise, marketing skills are becoming increasingly important for excess and surplus insurance business owners and managers.
Think tired marketing collateral is all you need to succeed in today's marketplace? Think again!
It's not hard to convince most business owners that marketing plays a vital role in strategic planning. With marketing pressure at an all-time high, your business needs to incorporate tactics designed to position a excess and surplus insurance business ahead of the competition.
Geolocational Marketing
Smartphones have added a new wrinkle to small business marketing. Equipped with GPS components, today's smartphones give consumers the ability to perform navigation and other geolocational tasks. Since you're an excess and surplus insurance business marketer, smartphone geolocation opens the door to new opportunities in brand and product promotion. Exploiting geolocational capabilities requires sophisticated tools and marketing strategies. At a minimum, your business should be including on online directories that alert consumers to an excess and surplus insurance business in their immediate area.
Measurement & Evaluation
Performance is the ultimate measure of quality. You can improve the quality of your B2B and B2C efforts by considering professional mailing lists provided by established vendors. That's just one of the ways excess and surplus insurance businesses can automatically improve marketing ROI. But on the whole, measurement and evaluation are two of the most powerful weapons in your ROI arsenal. A robust measurement and evaluation process should include metrics that can be monitored on a monthly, weekly or even daily basis. Designed to monitor marketing efforts on a campaign-by-campaign basis, these metrics can be used as a baseline for strategic planning. Technology plays a role in marketing measurements, so excess and surplus insurance businesses often choose to consult with professional marketers for assessment tools and strategic insights.
Technological Expertise
The PR and marketing community has embraced technology with open arms, transforming basic marketing concepts into sophisticated, tech-driven systems and solutions. One of the things that needs to be considered by excess and surplus insurance businesses is the need to increasingly incorporate technological marketing solutions into the marketing mix. Despite the initial cost associated with many technological solutions, the long-term payoff for the right technologies almost always outweighs the upfront expense.
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