In early April, INN reported on a study that estimated only 16 % of small businesses in the United States using social media sites to promote themselves. On the other hand, large businesses—large insurers included—are taking advantage, and for good reason, according to research and advisory firm Celent. The firm’s report, “Leveraging Social Networks: An In-Depth View for Insurers,” asserts that there are three principle reasons for participating in social networks:
1. They are a cheap method of advertising. Most social networking sites offer their services for free, for now. The business model is centered on allowing third parties to pay for targeted advertising to customers of the social networking Web sites, and this is why they are so relevant to digital marketing and insurers.
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