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Analysis state farm

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StateFarm: New Business Pitch Brief

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Analysis state farm

  1. 1. NEW BUSINESS PITCH BRIEF
  2. 2. A recent article from AgencySpy reports that State Farm is in the midst of a creative review, which is now in its pitch stage with DDB Chicago defending the account. It goes without saying that State Farm has had a long relationship with DDB, whose chairman emeritus Keith Reinhard wrote its famous “Like a Good Neighbor” tagline. Many agencies are pitching what would be a sizable new business win, but the list of shops based in Chicago that would be able to take on this client is relatively short. Back in 2010, State Farm moved its creative business from what was then Tribal Worldwide DDB to FCB Chicago (then DraftFCB) starting with the auto-specific portions of the account. Digital work soon followed, but the celebrations for FCB were short lived as that relationship lasted less than a year. It seems that State Farm asked the two agencies to pitch fresh ideas due to market pressure stemming from the success of Leo Burnett’s Mayhem campaign for Allstate, and DDB won out because, as an executive said at the time, its ideas were “simply better.” One of those ideas was the 2011 “Jake from State Farm” spot, which proved quite popular and put DDB into “a state of euphoria.” In a sign that State Farm might once again be searching for new ideas, DDB Chicago’s most recent work for the brand revived the long-dead Coneheads in a remake of “Jake” right after the client ran another version of the old ad, this one staffed by emojis. DDB reps declined to comment for this post, and State Farm’s marketing team simply said, “We consistently work with multiple agencies to maintain a relevant brand in the marketplace.” PITCH INFORMATION 01 PITCH INFORMATION
  3. 3. State Farm Mutual Automobile Insurance Company provides various insurance and financial services in the United States and Canada. Its insurance products include general, auto, accident, homeowners, condo owners, renters, life and annuities, fire and casualty, health, disability, long term care, business, and boat insurance products. The company also offers farm and ranch, flood, motorcycle, personal articles, personal liability umbrella, community organizations, and volcano damage insurance products. It sells its insurance products through agents. State Farm dominates the market of property/ casualty insurances with a market share slightly over the 10%. The two closest competitors are Liberty Mutual and AllState, both conquering the 5.1% of the market, while Geico follows with 4.7% shares. SUMMARY SUMMARY 02 STATE FARM MUTUAL AUTOMOBILE INSURANCE 10.3% LIBERTY MUTUAL ALLSTATE CORP. BERKSHIRE HATHAWAY INC. 5.1% 5.1% 4.7% $ 58,508,587 $ 29,364,559 $ 28,892,088 $ 26,555,515
  4. 4. ad spend and TARGET SEGMENTS 03 AD SPEND AND TARGET SEGMENTS Kantar Media estimated that the State Farm company spent $583 million on measured media back in 2012, up to over $800 million in 2014. As stated by company’s Marketing Analyst, Ruben Rivera, part of this budget will be dedicated to increase the engagement level on Hispanics, where State Farm is taking a different tactic with “Abuela Rosa” -- a feisty grandmother State Farm created to serve as the face of the brand. For State Farm, Abuela Rosa embodies its philosophy of living life confidently (with the right insurance company, of course). In order to get ready to pitch and obtain full informations about target segments and competition, you will need 3 different analysis: • Competitive analysis • Audience Insights • Trends watch
  5. 5. DEMOGRAPHICS 04 COMPETITIVE ANALYSIS DEMOGRAPHICS Liberty InsuranceStateFarm Allstate Geico GENRES MALE 0% 25% 50% 75% 100% FEMALE 0% 25% 50% 75% 100%
  6. 6. DEMOGRAPHICS 05 13 - 17 0% 25% 50% 75% 100% 18 - 24 0% 25% 50% 75% 100% 25 - 34 0% 25% 50% 75% 100% 35 - 44 0% 25% 50% 75% 100% 45 - 54 0% 25% 50% 75% 100% AGE SINGLE 0% 25% 50% 75% 100% MARRIED 0% 25% 50% 75% 100% IN A RELATIONSHIP 0% 25% 50% 75% 100% RELATIONSHIP STATUS
  7. 7. DEMOGRAPHICS 06 WHITE 0% 25% 50% 75% 100% AFRICAN AMERICAN 0% 25% 50% 75% 100% HISPANIC 0% 25% 50% 75% 100% ASIAN 0% 25% 50% 75% 100% RACE COLLEGE 0% 25% 50% 75% 100% HIGH SCHOOL 0% 25% 50% 75% 100% GRADUATE SCHOOL 0% 25% 50% 75% 100% EDUCATION
  8. 8. DEMOGRAPHICS 07 WITHOUT CHILDREN 0% 25% 50% 75% 100% WITH CHILDREN 0% 25% 50% 75% 100% PARENTING <40K 0% 25% 50% 75% 100% 40K - 70K 0% 25% 50% 75% 100% 70K - 100K 0% 25% 50% 75% 100% 100K - 200K 0% 25% 50% 75% 100% INCOME >200K 0% 25% 50% 75% 100%
  9. 9. PSYCHOGRAPHICS 08 Liberty InsuranceStateFarm Allstate Geico ART APPRECIATORS 0 50 100 150 200 BEAUTY AND WELLNESS AWARE 0 50 100 150 200 BUSINESS PEOPLE 0 50 100 150 200 DESIGN LOVERS 0 50 100 150 200 COMPETITIVE ANALYSIS PSYCHOGRAPHICS
  10. 10. PSYCHOGRAPHICS 09 ENTERTAINMENT JUNKIES 0 50 100 150 200 FASHION LOVERS 0 50 100 150 200 FOODIES 0 50 100 150 200 GAMERS 0 50 100 150 200 HOME DECORATORS & DIYS 0 50 100 150 200 MOTOR LOVERS 0 50 100 150 200
  11. 11. PSYCHOGRAPHICS 10 MUSIC LOVERS 0 50 100 150 200 NETIZENS 0 50 100 150 200 OUTDOOR ENTHUSIASTS 0 50 100 150 200 PARTY GOERS 0 50 100 150 200 PET LOVERS 0 50 100 150 200 POLITICALLY ACTIVE 0 50 100 150 200
  12. 12. PSYCHOGRAPHICS 11 PUBLIC FIGURE FOLLOWERS 0 50 100 150 200 READERS 0 50 100 150 200 TRAVELERS 0 50 100 150 200 NERDS 0 50 100 150 200 SPORTS ENTHUSIASTS 0 50 100 150 200 TECHIES 0 50 100 150 200
  13. 13. INTERESTS 12 Liberty InsuranceStateFarm Allstate Geico Car Town Madden Dwayne Wade Generation Opp Miss Sprint Cup POPULARITY 198.6 177.9 198.9 172.4 161 42.3 84.2 69.6 42.3 121.8 105.6 88.6 154.4 19.3 96.3 107.6 122.6 140.7 43.4 144.5 COMPETITIVE ANALYSIS INTERESTS
  14. 14. AUDIENCE INSIGHTS 13 AUDIENCE INSIGHTS NEED MORE INFORMATIONS ABOUT YOUR TARGET AUDIENCE? CLICK HERE >
  15. 15. TRENDS 14 TRENDS INTERESTED IN WHAT’S TRENDING ON YOUR TARGET AUDIENCE? CLICK HERE >
  16. 16. If you need more insights on this target and its competitors click HERE or drop us a line normandin@cubeyou.com We are here to help! http://www.cubeyou.com/contacts http://www.cubeyou.com/contacts http://www.cubeyou.com/contacts http://www.cubeyou.com/contacts http://www.cubeyou.com/contacts http://www.cubeyou.com/contacts http://www.cubeyou.com/contacts http://www.cubeyou.com/contacts http://www.cubeyou.com/contacts http://www.cubeyou.com/contacts

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