DES MOINES, Ia. (May 18, 2016) – What is the return on investment in social media marketing? It’s a question that plagues marketing professionals and independent businesspeople striving to benefit from social media marketing.
And now there is an answer. The result of a joint effort between InsuranceSocial.Media and Drake University, the model—How Social Media Makes Money for Insurance Agents— simplifies insurance social media ROI calculations by reducing the number of variables.
While insurance social media impacts retention, sales, cross-sales, and referrals, this model focuses only on the financial impact of referrals. And while insurance social media can impact an agent’s sales across virtually every line of insurance, this model focuses only on personal auto insurance.
An add-on to the model also takes into account potential cross-sales of homeowners insurance resulting from referrals from personal auto insurance customers.
“The results speak for themselves,” says David Beall, CEO of InsuranceSocial.Media. “An insurance agent subscribing to InsuranceSocial.Media’s Basic Plan can expect a 226 percent return on their social media investment.”
Direct social media ROI can be simple to calculate, if marketers have in place paid social media plans, unique landing pages, or free downloads that can help them gather data. But many independent businesspeople striving to leverage social media to grow their business don’t have the time or budget to develop those tools.
“These are businesspeople who are less interested in the specific goal of driving customers to their websites, and deeply interested in increasing their sales,” says Beall. “We created this model specifically for them.”
Founded by a team of insurance executives, professional writers, and software engineers, InsuranceSocial.Media combines professionally written, regulatory-compliant insurance social media marketing with cutting-edge technology and industry expertise. To learn more about InsuranceSocial.Media, visit InsuranceSocial.Media and blog.InsuranceSocial.Media.
About DRAKE UNIVERSITY:
Drake University is recognized as one of the finest institutions of higher learning in the Midwest. A midsized, private university in Des Moines, Iowa, Drake provides an exceptional learning environment that prepares students for meaningful personal lives, professional accomplishments, and responsible global citizenship, by fostering collaborative learning among students, faculty, and staff and by integrating the liberal arts and sciences with professional preparation.