Monthly Archives: June 2010

SOCIAL MEDIA — HOW TO ASSESS ITS COSTS

Monetary costs aren’t the only factor to consider

One common concern that insurers and producers share with me is the actual bottom-line cost of social media participation—the process of creating, reading and commenting online and deriving value for the effort. Many still view it only as a discretionary expense, an activity they don’t yet fully understand or for which they see little payback on the investment. These same managers may not be subjecting social media to the same scrutiny as other communications tools. If they carried out a cost-benefit analysis, for example, they might be surprised. Continue reading