It's safe to say that the majority of insurers have some presence in social media today. The effectiveness of their efforts, however, can be difficult to measure.
"Companies can see that customer engagement is happening [in social networks], but whether that is generating revenue is more difficult to assess," says Stephen Applebaum, senior analyst in Aite Group's property & casualty insurance practice.
But American Family agent Will Anderson believes that looking for returns quantified in dollars and cents misses the mark. "No one worries about measuring the ROI on a telephone; it's a tool you need to do business. Social media should be just another piece of your marketing strategy," he says.
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