agency-finance

Posts Tagged: agency-finance

2 posts found

How Much Should an Insurance Agency Spend on Marketing?

03/14/2022 · 5 min read

Work backward from your new-client target through close rate, contact-to-quote rate, contact rate, and cost per lead to size your marketing budget. At a $20 CPL, 30 percent close, and a $2,000 LTV, 150 new clients costs $100,000 and returns 3:1.

ltvlifetime-value

Spend More on Leads and Win: How to Calculate Customer Lifetime Value for Insurance Agents

01/19/2022 · 5 min read

Customer lifetime value for insurance agents: $2,200 average premium at 12 percent commission over 8.3 years of 88 percent retention is roughly $2,191. At a 3:1 target return, you can spend up to $730 per acquired client, or $219 per lead at a 30 percent close rate.