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Why is it So Difficult to Measure Marketing ROI?

Author SherriCarroll , 6/6/2016
ROI is simple right? Measure your costs (investment), measure your revenue (Return). ROI = Return/Investment.

 The problem many of our clients were facing, before partnering with CompleteMarkets, was measuring Marketing ROI since it is not an exact science. In  practice, marketing is a dynamic activity which requires constant fine-tuning, trying new approaches and doubling down when something appears to be working.  

We understand that marketing is a crucial step in generating Sales. Without Sales, your company will fail. Without Marketing, your Sales will fail.  

If you cannot measure your Marketing ROI accurately and comprehensively then how do you know which marketing efforts are prosperous or, which ones are failing and losing your company valuable time, dollars and sales?

 Many marketers and agency owners do not have a good handle on costs therefore they cannot have a good read on their Marketing ROI. They either do not have enough time to keep track of all this, or the agency is too departmentalized (big) to consolidate these costs.

 Most agencies will attempt to measure at the end of the year, and use a simple yardstick – net profit. 

 “Did we grow?”; Did we make money?”; “How do you feel this initiative did?”.  In the end all their measurements of ROI turn out to be just an educated guess.  

 At CompleteMarkets we take the guess work out of measuring ROI making your marketing campaigns easier, more comprehensible and ultimately more successful for your company! 

 We measure every submission (estimated premium), every lead and all activity by campaign. You can assign a ‘value’ to each activity we report to you and end up with a pretty good estimate on the value you are getting for your marketing efforts.  

 This is why large companies with dedicated marketing teams and small agencies without an in-house marketing team love us!

 Take a look at what some of our clients are saying about their ROI after partnering with us on our case studies page. 

You will find advertisers, small and large, single product and multiple, single state and nationwide, accepting one-off business or only large premium books of business.  

We adapt our approach to your needs and goals.

 Why not get in touch? Let’s discuss how we can help your agency get more than just an educated guess on its Marketing ROI.  

Regards, 

Sherri Carroll, Business Development Executive  

909-219-9547

scarroll@imms.com

$5.7B in estimated premium flowing through CompleteMarkets platform in 2015!

Author SherriCarroll , 1/25/2016
Happy New Year!

2015 was a busy and productive year for us. In 2015, we saw an estimated $5.7B originate or move through our CompleteMarkets platform, a significant increase from the year before – underlining the fact that digital product distribution is picking up momentum.

We accomplished quite a bit, as it relates to innovation and helping our clients with product distribution: 
  • Updated our email campaign technology to deliver more email to the inbox.
  • Upgraded our reporting – simplified, concise and powerful.
  • We now clearly categorize the different types of leads and submissions we send you. This helps you with routing the submissions to underwriting departments. This also helps underwriters prioritize their responses based on premium size and urgency.
  • We are now paying special attention to submissions with an estimated premium of over $10k. We call the agent and connect them to your marketing team or, in many cases to the underwriting team. The positive response to this approach, on both sides has been very encouraging. 
  • In 2016, we are moving towards sending email campaigns only to those agents and brokers that actually write that line of business – think targeted email marketing.
The net result of these and other innovations – thousands more happy agents and brokers; more premium flowing through our platform and more data for us to analyze with the goal to provide more value to our valuable clients – insurance wholesalers and marketers needing to connect with the retail insurance agent.  

Please contact me or click here for more information on our program and how we can help drive premium towards your markets. 

Sincerely, 

Sherri Carroll, Business Development Executive
https://completemarkets.com/SherriCarroll/
Ph: (909) 547-6212 x5331 | Fax: (909) 547-6216 | Email: scarroll@imms.com