As another year comes to an end, thoughts naturally turn to the future and on making a greater impact on our businesses. You have probably already started making plans for growing your insurance agency in 2017. Those plans might include strategies for increasing referrals, reducing expenditure and squeezing more productivity out of your office staff.
But what about increasing expenditure on marketing? Probably not a resolution to relish, but worth considering nonetheless. A survey by Velocify found that agencies spending 15% or more of their revenue on marketing tended to see increases in revenues of more than 20% year-over-year. On the other hand, those that spent less than 5% were likely to experience flat revenue.