State Farm Presentation

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Presenatation on Advertising Campaign for State Farm Renter\'s Insurance

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State Farm Presentation

  1. 1. Brought to you by: The Goonies Creation Studio, LLC
  2. 2. State Farm Renter’s Insurance
  3. 3. Top 3 Competitors’ Marketing efforts better attract 18-24 yr olds:  Geico **These marketing campaigns hold ◦ Humor and memorable mascots target market’s interest giving ◦ Leader in new customer acquisition/TOM awareness their marketing efforts a competitive  Progressive advantage over State Farm’s. ◦ Mixed humor/serious ads emphasize user-friendly website  Allstate ◦ Real-life approach with dramatic car accidents, etc
  4. 4. State Farm is the Leader in  Customer service/satisfaction  Customer retention (94.6%)  Auto insurance policies ◦ It would take 4 Geicos to equal State Farm’s auto market
  5. 5. Denver’s Young •Leaving home •Newly emancipated Adults •Renting 18-24 •Spend $ on partying, outdoor Expensive sports, travel, entertainment Lifestyles •Don’t like to spend $ on necessities like insurance Critical/ •Very cynical of advertising •“Never home” lifestyles hard Elusive to reach with typical media
  6. 6. Denver’s Age Demographics 43,742 58,612 18-24 25-44 117,439 45-64 190,200 65+ •Majority of Population makes less than $30,000/yr •Median Income is $59,209
  7. 7. • All but 1/3 of the population of 18-24 yr olds spend the majority of their leisure time out and away from home 18-24 yr old Psychographics Cultural/Art Events 32% 21% Golf 21% 43% Physical Fitness Watch Sports on TV
  8. 8. •State Farm’s customer base skews older •Often seen as “Your father’s insurance company” •Current customers are 18-24 year olds generally •Educated •Conservative do not share these traits. •Practical in making purchases •Goal Oriented •Concerned with Career and Family •Look for reliability/trustworthiness
  9. 9. State Farm maintains an image of  Classic tradition  Old time one-on-one service  Exceptional quality  Not for the parsimonious State Farm is positioned to appeal to mostly Baby boomers and senior citizens who don’t mind paying more $ for better, more reliable service.
  10. 10. State Farm Renter’s Insurance
  11. 11.  Campaign will reach elusive 18- 24 yr old market with OOH/non traditional media  High frequency of repeated exposures to product  Use simple “insurance moments” to portray need  Humorous content in ads, not expected from “your father’s insurance company”
  12. 12. State Farm Renter’s Insurance
  13. 13.  Create awareness for renter’s insurance since the product, and its benefits, are unfamiliar to students  Inform potential customers that the product is affordable, easy to obtain, and valuable in solving real-life, everyday crises that the typical 18-24 year old encounters  Re-position State Farm in the eyes of this demographic by illustrating that the company’s products aren’t just for their parents anymore.
  14. 14. State Farm Renter’s Insurance
  15. 15.  Out of Home Advertising ◦ Billboards  Located along roadways  Highly visible to vehicular traffic • 2 placed in Denver Area • Bus Wraps • “Drives” message all over Denver • Highly visible • Placed in highly rented neighborhoods
  16. 16.  Out of Home Advertising Contd. ◦ Bathroom Ads  Designed to reach broad audience that can target male and female exclusively  Cannot be walked by, clicked past, tuned out, or turned off ◦ Theater  Starts at beginning of feature film  More likely to have increased interest in advertised brands, have a better opinion of the brands
  17. 17. ◦ Apartment Guide ◦ Partnership/  Targets those looking Sponsorship for a property to rent  Targets those looking  Specific to Denver, for property to rent Guides are free  Very cost-efficient ◦ Internet  Ability to hand out info  Social networking sites and talk one-on-one like Facebook and with customers Myspace  Viewers are targeted demographically/ psychographically
  18. 18. State Farm’s Renter’s Insurance
  19. 19.  Out of Home ads ◦ Tracked with DEC (daily estimated circulation) ◦ 45,000 people see at least one bus shelter daily ◦ 25,000 see one bench daily  Internet ◦ Tracked with CPC (cost per click)  Print Ads, Sponsorship ◦ More difficult to track ◦ Work with local agents to record increase in number of Renter’s Insurance policies taken out by 18-24 year old demographic
  20. 20. Women’s Bathroom Ad State Farm Renter’s Insurance covers your belongings from fire, water, and any other natural disasters.
  21. 21. Men’s Bathroom Ad
  22. 22. Grand Total = $144,392

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