We now have learned that it’s not only Robert Pattinson who carries sorrow today. It’s also all of those insurance commercial spokespeople that are in the heartbreak line. USA Today says that the funny ads are not paying off.
Market share statistics are leading advertisers to the conclusion that funny insurance ads are probably only expensive chuckles. When I started reading the USA Today article, I immediately became concerned about “Mayhem”. He’s my favorite.
Since 2007, Geico, Progressive, State Farm and Allstate now rank among the USA’s 20-most advertising products. Last year, Nationwide spent more than 200 million and it reports losing more than 9% of it’s market share. Of course, I have yet to find anyone who thinks that the “World’s Greatest Spokesperson” is funny or persuasive; so maybe Nationwide should just focus on fairly paying claims instead of that nonsense.
In advertising, the goal is always to get noticed. Just like legal advertising. I’m not sure if that means that President David Palmer works or not. (you had to be a “24” Fan to understand)
More insurance companies are trying to get more done online. That’s why Allstate paid over a billion dollars last year to acquire Esurance, which was totally built online.
Is Flo going to be replaced by Flobot and have we seen the last of the Gecko? Statistically, State Farm’s growth has remained flat for the last 3 years. I guess the “discount double-check” didn’t bring enough checks.
It is a competitive industry. USAA jumped in with their first national advertising campaign that makes it look like it’s quite a privilege to pay premiums over many generations. Since I have recently filed suit against USAA on behalf of a client who did not receive his available medical payment coverage; that advertisement just makes me want to give them the look.
I wonder what would happen if one company would step forward and advertise that they were going to fairly pay claims. Now that would shake up the market! (Guess you can tell, I’m a little biased)
For pic o’ day, here’s a “new technology” idea for all these companies: