Using Analytics To Grow Your Insurance Business!

Are you looking for more tactics to keep your insurance business growing? Here’s why keeping track of analytics allows you to make informed data-driven decisions about running your business.

Tracking Analytics

Google analytics as a platform is essential to understand, but Google analytics is also important if you’re investing heavily in search engine optimization (SEO) and lead development through your site. 

Google analytics should be your home base, especially if you’re investing in website content, video creation, and writing blog content. You have to be able to track everything that is going on to do digital marketing correctly. With analytics, you can see the amount spent, the revenue brought in, and the campaign’s ROI percentage. 

One of the best things about tracking analytics is establishing benchmarks of what you’re willing to pay per platform. Without analytics, you’ll be throwing money in directions where your money probably doesn’t even need to go. 

If you’re a more prominent digital marketer, you don’t want to have all your eggs in one basket, meaning you don’t want to spend all your money on one single platform. Let’s look at Facebook, for example. If you dedicate most of your budget to Facebook, but Facebook decides to suspend ads for whatever reason, you’ll be missing out on a lot more leads than if you had dedicated other portions of your budget to different platforms.

Basic Analytic Points

With impressions, whether it’s with Google, YouTube, or Facebook, it’s all the same. Your ad is being shown to someone. To understand how well your ads are doing, you need to be aware of how much your audience is interacting with them. 

Your impression share is the percentage of the market share that you’re owning with your budget. That’s an important number to understand because it will help you get an idea of what your budget should look like.

Clicks are also important because they tell you the quality of the ad. The click-through rate is a measurement of how effective an ad was with an audience. For example, a high click-through rate means you received good engagement.

Now, let’s say we drive the audience to a landing page. The conversion rate will tell us how effective our landing page is. Once the conversion rate is there, you usually have a transfer rate, which shows the percentage of how many leads were transferred to an agent. 

All these numbers are essential to know because they can either show you what is working or show you what you need to improve to keep your insurance business growing.

About SAM

Secure Agent Marketing offers many digital marketing services specifically tailored to the insurance industry. We’ve spent millions of dollars through these various platforms and have picked up a lot of knowledge along the way. Because we work in the insurance world too, we know what works and what doesn’t.

If you’re looking to implement the latest digital marketing trends for your business, give us a call at 833-402-4368.

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