We investigate exciton spin memory in individual InAs/GaAs self-assembled quantum dots via optical alignment and conversion of exciton polarization in a magnetic field. Quasiresonant phonon-assisted excitation is successfully employed to define the initial spin polarization of neutral excitons. The conservation of the linear polarization generated along the bright exciton eigenaxes of up to 90% and the conversion from circular- to linear polarization of up to 47% both demonstrate a very long spin relaxation time with respect to the radiative lifetime. Results are quantitatively compared with a model of pseudo-spin 1/2 including heavy-to-light hole mixing.