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How to Demonstrate Social Selling ROI in Financial Services

Proving the return on investment (ROI) of social selling can seem daunting, particularly when multiple stakeholders – sales leaders, marketing leaders, and agency leaders – all seem to value different indicators of success. But quantifying results of your efforts can change the perception of social selling (a much needed but often questioned tactic in financial services), and increase enthusiasm by demonstrating the real impact social media has on business outcomes.
So what is social ROI? Simply put, it’s proving that you’re getting as much or more out of social selling as the resources (time and money) you’re putting into it.

Establish Your Social Media Objectives

Before you can measure or report on the success of your social selling strategy, you must establish some clear objectives. What exactly are you aiming to do?
Social selling objectives will differ by role, and might look something like this for financial services and insurance firms:

Marketing Leaders Increase brand reach, referral traffic and lead generation
Sales/Distribution Leaders Increase client acquisition, cross-sell/upsell and client retention. Also, increase advisor recruiting & retention

This isn’t a comprehensive list, but represents a good starting point and common objectives we see across a broad range of clients.

Benchmark Your Performance Against These Objectives 

Once you’ve established the specific objectives your firm is focused on, it’s time to measure your program’s current progress against those objectives. Since this often appears overwhelming, we’ve put together a simple, customizable framework for demonstrating ROI – along with the tools Hearsay offers to help you use it.
Let’s get started.


The simplest way to get started with ROI is to measure how satisfied advisors and agents are with your program. Technology and marketing support is often cited as one reason advisors and agents switch (or stay) with a firm, so it’s important to track this sentiment over time.
How to get started: Work this into an existing field NPS survey, start a new survey, or use Hearsay’s ROI Survey to measure this (and more).
Hearsay Customer Success Story: A Fortune 50 multinational insurance firm – surveyed their advisors in 2018 with extremely positive results. Of the respondents:

  • 94% of advisors found value using social media (23% found it very valuable)
  • 68% of advisors found the social selling program helped establish their brand and value proposition within their networks
  • 45% said it strengthened their client relationships
  • 31% found a new lead or client
  • 25% received a referral
  • 21% report that 5-10 transactions/clients were influenced by social
  • and 18% say it’s helped them find a candidate for hire


A more complete approach is to include the marketing value generated for both advisors/agents and corporate marketing. A simple way to measure the financial value of awareness created by your field team’s organic social marketing is to calculate how much it would cost to generate those results through paid advertising.
How to get started: Use Hearsay’s Ad Equivalency Calculator to quantify the value of your advisors’/agents’ total impressions, clicks, and more. Next, use Hearsay’s Attribution feature to measure the corporate referral traffic & leads generated by your program.
You can quantify the value of that corporate traffic by multiplying it against your firm’s average Cost Per Click (CPC). Example: Let’s say your program generated 460,000 visitors to your corporate website and your firm’s CPC is $5.00. It would cost your firm $2.3m to generate that qualified website traffic through paid advertising.
Hearsay Customer Success Story: Since we released Campaigns (marketing automation for advisors), one Hearsay Social customer has been able to reliably generate over 1 million unique website visits every year. At an average cost per click of $5.19, that’s over 5.4 million dollars in highly-qualified corporate website traffic. Unsurprisingly, this referral traffic alone provides a return on the firm’s investment in Hearsay Social multiple times over.
Aside from proving social selling ROI, there are important insights to be gained from this tracking that may have otherwise been missed. Through tracking how much traffic (and how many leads) different posts and campaigns generate on an aggregated basis, for example, we’ve found that in insurance and wealth management the highest-ROI content often has low engagement but high click-through. Topics like Retirement, Divorce, Aging and Neurological Decline, and Special Needs Families are all private matters that many do not want to discuss publicly on social media. However, readers will click on an article, read, and fill out a form for more information.
Without URL attribution, you may not discover that some of the highest ROI content has zero likes or comments, yet generates impressive website traffic and leads. Being able to measure how much traffic and how many leads different content and campaigns generate also allows admin teams to close the loop and refine their content strategy over time in a data-driven way that’s more directly attributable to revenue than ‘like’ and ‘comment’ engagement rates.


The most robust approach includes a measure of your program’s impact on client acquisition, upsell/cross-sell, and client retention. This can be measured anecdotally or by correlating your field team’s marketing activity with their production (sales) data.
How to get started: Use Hearsay’s ROI Survey to show, anecdotally, how social helped your advisors and agents grow business through increased acquisition, retention, and more. Alternatively, use Hearsay’s Digital ROI Assessment to conduct a detailed analysis of the performance and business value of your social selling program.
Hearsay Customer Success Story: A Fortune 500 Wealth Management  customer who conducted the Digital ROI Assessment found interesting results on two fronts. The goal of the assessment was to analyze the correlation between sales and branding performance and the use of social media. There were two hypotheses tested:

  • Advisors who use social media perform better than those who don’t
  • Among those who do use social media, advisors that do so more actively perform better than peers that are less active

Comparing datasets of more than 1000 non-social and 1000 social advisors, both hypotheses proved true.
Those who used social media (compared to those who did not), on average:

Increased net new AUM by 50% Grew their total AUM and client base 50% faster Generated 150% more website visits

Of the already more successful group of social users, the more active among them:

Brought in 70% more net new AUM than their less active social peers Grew their business up to 90% faster than less active social users Generated 400% more website traffic

Understanding your social program’s performance at this level gives you a strong basis for investing in the program going forward.

Best Practices for Reporting Social ROI

Gathering data is one thing, but communicating it effectively to interested stakeholders is equally important. Here are some tips:
Consider your audience. Speak to the business goals of the group you’re addressing. Don’t simply data-dump. Explain how the metrics you are reporting help further their objectives.
Clarify limitations. It is possible to measure social ROI, but it isn’t possible to measure everything. Social selling doesn’t always follow a straight line from cause to effect. Be clear about what is possible to measure with the data you have, but also be honest about those things that defy measurement.
Use templates and plain language. Using templates not only saves time, but also makes it easier for stakeholders to compare results from one report to another. Avoid using data-speak. Provide insights in straightforward language.
Stick to a timeline. Regular review and reporting of social success makes it easier to understand progress over time. It also makes it easier to iterate and pivot as soon as you discover a current strategy isn’t performing as well as expected.


Measuring the value of social selling isn’t magic. Though there are intangible benefits of a great social selling strategy that don’t readily appear on a spreadsheet, carefully choosing objectives, leveraging the power of analytics (including Hearsay Insights), and communicating clearly allow you to provide tangible ROI to your agents, advisors, and cohorts.

Hearsay’s September Product Release is Here

Today, I’m happy to announce that our latest product release is now generally available!
Our sixth release of the year includes significant enhancements to Hearsay Social (check out the updated mobile app), as well as key new features inside Hearsay Relate. As always, many of our updates to Hearsay Social work seamlessly with Hearsay Sites. This makes it easy for advisors to generate awareness at the top of their sales funnel and easy for you to support them throughout the entire buyer’s journey.
The new features include:

For Hearsay Social and Hearsay Sites:

Enhanced Mobile App 
It’s no secret that an advisor’s time is best spent one-on-one with clients and prospects. That’s why they’re often out of the office, on the go. With Hearsay Social’s enhanced mobile app, your advisors can manage social networks, engage clients and nurture prospects — all in a few quick taps. 
The reimagined app includes many of our new desktop features like the Action List and 1-to-1 Outreach. Combining these with Push Notifications, Hearsay Social can alert your advisors of an important marketing or sales action they need to take, and make it dead-simple to complete. This could be scheduling posts to attract new prospects, following up with a website lead to close business, and more.
In addition, the mobile app makes a few simple but powerful email marketing tactics actionable for your advisors. Let’s say your advisor goes to an event, meets a few prospects who are interested in life insurance, but aren’t quite ready to buy. In a few taps, your advisor can subscribe them to an email drip campaign – about life insurance – right on their phone. Now, the advisor can effectively nurture those leads without spending time on it or learning email marketing.
Hearsay Content for Canada
We launched Hearsay Content in April to help you curate great content in less time. Backed by eight years of data, we provide organizations – at no cost – feeds of high-quality articles to help you make content marketing easy for advisors.
Now, you can get Hearsay’s top four feeds curated specifically from select Canadian publications. This makes it easier and faster for our Canadian customers to create an engaging content strategy for clients in their home market (after all, 3rd party content is key to a well rounded content strategy).
Note: To review available or discuss potential new Content Channels from Hearsay, please engage with your Customer Success Manager.
Automated Content Approval
As more advisors publish content via Campaigns, and as Hearsay Content delivers more into your Content Channels, it is more important than ever to optimize the content review and approval process for supervision teams.
With Automated Content Approval, supervisors can automatically review and approve third-party articles brought into Hearsay — while ensuring compliance with your organization’s policy. Supervisors are alerted of any articles flagged as risky and can quickly review them manually to take the appropriate action.

For Hearsay Relate:

Web Opt-In Form
To stay compliant, advisors may need consent from their clients and prospects to start texting. The Web Opt-In Form makes it easy for advisors to get more clients and prospects signed up at events, during new client onboarding sessions, and more. It’s as simple as sending a link to their personalized opt-in form.
Easily Resend Texts
Text messaging is a great way to get a hold of clients, but sometimes, for a variety of technical reasons, texts don’t quite make it to their recipients. With Hearsay Relate’s web app, your advisors (and often their assistants) can easily resend any text messages that don’t make it to a client or prospect.