It is often amazing how well insurance carriers do with their branding and marketing. After all, Geico has their own gecko, and we’ve all seen those cool Caveman ads; and we all know we’re in “good hands with Allstate,” or at least were told that, and “like a good neighbor, States Farm is there.” It never ceases to amaze me how creative and brilliant some of these marketing programs have been.
If you read Advertising Age Magazine, they are constantly giving awards to marketers, and public relations companies for their wonderful work in the insurance industry. Of course, there is a new ad with Allstate now, Allstate insurance tells new potential clients, that if they decide to switch insurance companies that they will break the news to your old insurance company or agent so you don’t have too.
Just imagine your new insurance agent, calling your old insurance agent and saying “Ha ha ha, we just took your client, and we’re gonna take more.” Because basically that’s what they’re telling the customer they will do for them. Worse, imagine being the old insurance agent in getting a call?
Apparently, Allstate studied their new customers, and considered some of the reasons people are afraid to switch, and after doing this research they decided that many people were afraid to close out their older insurance agent’s account, because they didn’t want to hurt their feelings, or confront them.
In fact, if you call your old insurance agent and you tell them you are thinking of switching, they’ll tell you to come to their office to go over your policies to see if they can reduce the cost for you. And sometimes they will end up up-selling you more insurance services. Exactly why you didn’t want go to visit them in the first place.
In any case this was a brilliant marketing strategy by Allstate. Indeed, it was so good, that I highly expect other industries to copy this strategy. I expect banks, stockbrokers, and even financial planners to try the same strategy and tactic in their ads. We shall see. Please consider this.