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  1. IA Advantage Blog
  2.  » What Is ROI, and How Do I Calculate It for My Insurance Agency?

What Is ROI, and How Do I Calculate It for My Insurance Agency?

How do you determine if a marketing tool is boosting your independent insurance agency? By calculating your ROI. Here's how.
Published: November 16, 2022
How to Calculate Your Independent Insurance Agency's ROI

Online, there are millions of insurance pages to stand out from. It’s imperative for the digital-forward independent insurance agent to help themselves be seen online with the right marketing tool. But how does the agent know what marketing tool will perform for their needs without draining the marketing budget?

The Independent Insurance Agent’s Guide to ROI

Return on investment, or ROI, is a profitability metric used to measure the performance of an investment. ROI is typically calculated by subtracting the net return (profit) from the cost of investment (expense) and dividing that number again by the cost of the investment. Multiply your final number by 100, and you’ll have your ROI.

Return on Investment (ROI) Equation

For example, if your agency pays $2,000 for a marketing tool that returns 10 hot referrals totaling around $10,000, your agency’s ROI is 400%.

Ideally, you’ll want your return on investment to land somewhere over the 100% range, meaning your agency is earning back all and more of what it spent on its investment. If the tool does not return your investment, it might be time to reevaluate your marketing directives and find another tool more suitable for your agency.

ROI can be used to track profitability for almost any application, though it does have its limitations. ROI does not account for timeframe, so when you calculate your agency’s ROI, make sure to consider the length of time your agency has been using a tool before finalizing your findings.

How Does Advantage Help My Agency’s ROI?

Advantage agents have reported an extremely high return on investment from their subscriptions with many reporting that their ROIs have exceeded the cost of Advantage. Our focus at TrustedChoice.com is to ensure independent agents have their hands on the right resources to be seen online, and our line of Advantage products is a resource our agents have deemed highly valuable when calculating their ROI.

Any Advantage subscription from Advantage Profile SEO on up includes backlinks (valued at $350), daily site crawling, and a 24/7 team of dedicated SEO experts to help deliver a high ROI to your agency and keep your Advantage profile—and by proxy, your agency site—populating on the first page of SERP (search engine results pages).

Make Advantage, and your agency’s ROI, work for you! See all of our Advantage profile options, and request a demo with an account executive today to get started.

See What Our Advantage Agents Are Saying About Their ROI

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