Social - A PEMCO story in under 20 minutes

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A twenty minute hole appeared in the 2011 Social 301 Conference agenda and I got the call. This short story includes a video case and an example of how PEMCO has entered into social engagement with an integrated, online and offline approach.

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Social - A PEMCO story in under 20 minutes

  1. 1. Rod BrooksVice President & Chief Marketing Officer,PEMCO Mutual Insurance Company
  2. 2. In under 20 minutes… 1 Nice to meet you. 2 Just in case – The video 3 The challenge. 4 Jerry McGuire syndrome. 5 Blending Online & Offline
  3. 3. Know whats importantWorld-ClassCustomer ExperiencePEMCO BUSINESS MODEL • Integrity • Responsibility • Courage• Leads with relationship
  4. 4. Our BHAG: Big Hairy Audacious Goal “Never have to advertise for a lead again” PEMCO customers can’t stand the thought of friends & family doing business with anyone else.
  5. 5. Insurance is … The law Not valued Not trustedNot well understood
  6. 6. Can only“win” by“losing”
  7. 7. Jerry McGuire syndrome can be contagious! Show me the money
  8. 8. Four billion dollars is like brand magic! • Car insurance is anything but conservative when it comes to marketing these days! • Doling out dollars once reserved for categories like beer and travel. • 2009 Spending - $4.15 B – more than twice industry spending in 2000. • Industry growth – all lines – up 2.7% in same time period.
  9. 9. Four billion dollars is like brand magic! “Everything is working. The one thing I don’t want to have stand in your way is money. That’s what I’ve got.” “We wanted to kick Flo’s ass!” Warren Buffet - GEICONobody wants to sit around and talk about car insurance… We needed to entertain… Get people’s attention.” Nina Abnee – Leo Burnett Agency for Allstate “...we’re not slowing down Pam El, Marketing V.P.until we get the job done. And our job State Farm Insurance is to capture the hearts and minds [of potential customers].”
  10. 10. Four billion dollars is like brand magic!
  11. 11. Four billion dollars is like brand magic!
  12. 12. Four billion dollars is like brand magic!
  13. 13. Four billion dollars is like brand magic! Top 5 Carriers Spent $2.39 Billion Dollars In 2009
  14. 14. Tools in the toolbox 26
  15. 15. Tools in the toolbox 27
  16. 16. Engage in meaningful, relevant ways 29
  17. 17. Local fans and fan favorites!Know your talkers!
  18. 18. Media partnerships
  19. 19. Get more than you pay for
  20. 20. Share your spotlight moments
  21. 21. Make it fun and relevantGive them something to talk about!
  22. 22. Facilitate engagementMake it easy to share!
  23. 23. Put a camera in their hands
  24. 24. Make it fun and relevantMake it easy to share!
  25. 25. Make it easily shareable
  26. 26. WOM conversations about insuranceOver the past two years, likelihood to talk about auto insurance has increased from 16% to 24%.Likelihood to have a conversation about PEMCO’s ads has doubled (from 8% to 17%). January April Nov March September March 2008 2008 2008 2009 2009 2010Tri-County Preferred DriversHad a conversation about autoinsurance in the past month. 16% 23% 24% 20% 24% 24% In-person conversation 95% 85% 86% 95% 90% 93% Online conversation 12% 19% 14% 12% 17% 9% Talked about PEMCO 17% 19% 24% 22% 22% 23% Talked about GEICO 39% 51% 13% 56% 31% 35%Had a conversation aboutPEMCO’s ads in the past month 8% 15% 17% 21% 22% 17%Not asked in June 2008Percentages of those having conversations about auto insurance are based on the total samplePercentages of those having conversations about PEMCO’s ads are based on those who remember PEMCO ads. 42
  27. 27. Why did they buy? (statewide preferred market) For the first time, in 2010, referrals and recommendations are just as important as price in understanding why people make their buying decision. Market Reason 2001 2002 2005 2007 2008 2009 2010 Price 60% 62% 50% 50% 36% 40% 33% Referral and/or 10% 12% 17% 20% 22% 22% 32% Recommendation Liked the agent 15% 11% 9% 9% 9% 9% 13% Good service 33% 23% 5% 4% 9% 4% 10% Local company <1% <1% <1% <1% 9% 6% 7%When you first chose to purchase auto insurance with (carrier)why did you select this company for your insurance? 43
  28. 28. Why did they buy? (statewide preferred market) For the first time, in 2010, referrals and recommendations are just as important as price in understanding why people make their buying decision. Market Reason 2001 2002 2005 2007 2008 2009 2010 Price 60% 62% 50% 50% 36% 40% 33% Referral and/or 10% 12% 17% 20% 22% 22% 32% Recommendation Liked the agent 15% 11% 9% 9% 9% 9% 13% Good service 33% 23% 5% 4% 9% 4% 10% Local company <1% <1% <1% <1% 9% 6% 7%When you first chose to purchase auto insurance with (carrier)why did you select this company for your insurance? 44
  29. 29. Metrics: ConversationsActivities drive insurance conversations Had a conversation about auto insurance in the past month40%35%30%25% Insurance20%15% PEMCO10% 5% 0% Mar 09 Sept 09 Mar 10 Feb 11
  30. 30. Metrics: ConversationsActivities drive insurance conversations…offline! • Of insurance conversations occur in person as 91% opposed to online100%80%60%40% Online In-person20% 0%
  31. 31. Thank you!Let’s ConnectTwitter: @NW_Mktg_GuyFacebook: Rod BrooksBlog: www.rodbrooks.com

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