State Farm Proposal Book

43
An Integrated Campaign For

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Transcript of State Farm Proposal Book

An Integrated Campaign For

TABLE OF CONTENTS

MEMORANDUM4

SITUATION ANALYSIS...6

STRATEGIC RESEARCH...13

CREATIVE BRIEF.16

THE CREATIVE WORK...18

MEDIA PLAN OVERVIEW33

MEMORANDUM

Dear State Farm Insurance and Proximity,

It has been a pleasure to work with you both on a new advertising campaign for State Farm Insurance targeting single women with an emphasis on social media. For the first time in United States history single women over the age of eighteen have outnumbered married women over the age of eighteen in 2009. In 2011 single women will be the largest single demographic in the United States. In other words, single women will have major buying power in years to come, even more than the massive amount that they have now. It is a powerful market that advertisers should be extremely aware of. Everyone needs to have insurance, whether it is for their house, their automobile, or life insurance. While researching our target market we have discovered that women have major milestones in their lives that cause them to understand that their insurance needs may change at different points of their lives. When they realize that their current insurance plan may is insufficient to accommodate the changes in their lives they will only consider a new plan and a new insurance company. We will let them know that no matter what the changes are that are going on in their life, no matter what the milestone is, big or small, that State Farm Insurance has them covered and is there for them no matter what their needs are or how they may change. We would like to let single women across America know that State Farm will be there for them no matter what life throws at them. Thank you for giving us this opportunity to work with you and for giving us a chance to show you what we could do for you. Thank you.Sincerely,Innovative. Visionary. Solutions..

SITUATION ANALYSIS

Product Description:

State Farm is a mutual insurance group that primarily operates in the United States but also in some areas of Canada. They are licensed to sell insurance products in all 50 states of the US, District Columbia and provinces of Alberta, New Brunswick, and Ontario Canada. This company employees about 68, 517 people and is ranked amongst many large brands including Nike, Coca-Cola, Starbucks, and Google. State Farm provides property and casualty insurance, life and health insurance, annuities, mutual funds, banking services, and reinsurance products for both individuals and small businesses.

Whether its in schools, communities, online through statefarm.com, or offline at one of more than 17,000 agents offices State Farm is there. Even with growth and progression of technology State Farm still strives to help customers through real face to face and personal experiences. The company still operates under the founders mission operate fairly and do the right thing for our customers. In addition State Farm does right by the community also, as they are involved in sponsorships, safety programs, education leadership, and service-learning.

Being highly ranked and very involved in the community still leaves room for challenges. As much as State Farm does the company is often taken for granted. As many people as they insurer and support in the community State Farm seems to be unknown. It is often confused with one of its top competitors as people try and put the Allstate face to the State Farm brand.

One reason people may have a hard time recognizing and emotionally connecting to the brand is due to their conservative marketing approach. While trying to be safe and not alienate anyone State Farm also took on many roles and tried to satisfy the needs of everyone.

To overcome these barriers State Farm needs to target more of a general audience instead of several individual groups to make sure everyone is covered. For starters the company can put a face to the brand possibly a representation of the friendly local insurance agents. They need to associate themselves with something attention catching and memorable through advertising to help separate themselves from competitors. One way to do this is through social media, by getting their names out there on the internet through various new schemes. An while technology becomes increasingly more popular to handle business they should inform people about the ease of paying bills, reporting claims, accessing accounts, and many other functions that are available online even through the iPhone.

State Farm needs to remain ranked among the top brands and number one in its industry but needs to make some adjustments. The company can still maintain its conservative image and Like a Good Neighbor, State Farm is There slogan. However, they need to take advantage of opportunities that will make consumers fall in love with the brand.

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Competition:

36

Target Audience:

Women who recently graduated from college with bachelors, masters, and/or Ph.D.

Women who are just entering the job market and buying their first car.

Women who are purchasing their first home.

Women interested in becoming parents in the future.

Women interested in becoming married in the future.

Overall this audience consists of women being prepared for major life events that they may experience.

STRATEGIC RESEARCH

Primary ResearchAs individuals looking for car insurance we went to different State Farm agencies in Michigan as well as competitors to get the experience of wanting insurance from that company. We also conducted a focus group with women over the age of 18 and asked them the questions from our questionnaire to get a conclusion as to what women look for when choosing insurance.Secondary ResearchState Farm website, as well as competitors websites as well as commercials from State Farm as well as competitors produced past and present. Questions prepared by group and answered by Kevin Lynch.Consumer Behavior SurveyAs a group, we compiled a questionnaire with 10 questions that we distributed to 50 people male and female over the age of 18. We did male and female to see what they difference was in the way they searched for car insurance to see what sets the women apart and better target them. SWOTStrengths Strong market position as it is ranked number 34 on Fortune 500 charts for 2010 Largest automobile insurer in the U.S. resulting from insuring 1 in every 5 automobiles in America Strong brand recognition and customer loyalty Strong and stable management only two families have ever held top executive positions from 1922 to the present

Weaknesses No one face with State Farm Very conservative making it difficult to appeal to younger audience Until recently commercials have been conservative and targeted to an older generation Current social media focuses on building bonds and keeping them which is also targeted to older audience

Opportunities Putting a face to the brand possibly a face to represent the friendly local insurance agents Letting people know that they are increasing the ease of paying bills online, making it more accessible even from an iPhone The chance to associate themselves with something attention catching and memorable through advertising that may help to differentiate themselves from their competitors The opportunity to capitalize on the new trend of social media and get their names out there the best they can online through various new schemes

Threats Increasing natural catastrophes likely to increase claims From a corporate standpoint, threats are: competitive pressures & market pricing going below the risk. Maturing categories, products, or services which will result in an increase of consumer claims New regulations have been introduced by the government that the auto insurance will be based on drivers safety record, mileage driven and years of experience in driving. This has resulted in reduction of car insurance rates greatly. State Farm Insurance also had to cut its insurance rates that resulted in $1.2 billion reduction in underwriting income. Economic slowdown in the US likely to reduce revenues

Consumer ProfileWe are talking to the Modern Single Women over the age of 18. The single women has no children is tech-savvy, diverse, affluent, urban, influential as well as educated. We are reaching nationwide with some 51 million single women in the United States. We are targeting women who have just passed major milestones such as: graduation from school, getting a promotion from work, or even buying their first car or home.

CREATIVE BRIEF

State Farm Creative Brief

Target Market:

Adults, 18+ ; Primary Focus: single and working women, $30K-50K.

What we want our advertising to do:Creative:Social Media: LinkedIn, ChatPrint AdsOutdoor AdsDirect MailBrochuresPromotionsPublic RelationsNon - Traditional MediaTone:Professional, classy, confident, independent, decision-making, security, persuasive

Increase brand awareness amongst our target audience to reinforce State Farms neighborly image with security and safety. Create an exciting buzz to execute our campaign.

Key Message:

State Farmhas been in the business of providing excellent auto insurance coverage at an affordable price since 1922. Responding to our customers' needs keeps us the leader in auto insurance.

Executional Mandatories:Avoid sexist image, present women as independent and car insurance savvy while maintaining State Farms conservative profileFocus on informing women ways of safety and security, educating women how to buy insurance State Farm continues to provide the best complete auto coverage for your vehicle. Their branches are conveniently located throughout neighborhoods across the nation, making WOMEN feel safe and secure. Like a good neighbor, State Farm is there.

CREATIVE WORKS

DIRECT MAIL

BROCHURE

PROMOTIONS

Free giveaways Promotional key chains Promotional pens/pencils, calculators, magnets, calendars, luggage tags, T-shirts, or coffee mugs that carry your name, logo, and perhaps phone number or Internet address. (Branding our product on other daily used items) Lip gloss/ lip Baum, hand lotion, hand sanitizer (branding our product on daily used feminine products.) Premiums/gifts Coupon and rebates/discounts (mail, magazine, newspaper four-color inserts) A deck of playing card State Farm tire pressure gauges State Farm thermoses State Farm eco friendly cloth grocery bags

Games and Contests Submit entries in an effort to win prizes (Vacation for two, hotel & Spa, New Car, Free Car Insurance annually 1per branch) Post Contest in the windows which can draw additional customers into your store of local branches (In-Store Contests)

PUBLIC RELATIONSCar Insurance 101Location Community center, school, hall, or any other area Ask a women ran association or club if State Farm can speak for one day Duration Various days throughout the week with female agents at different locations Educate women how to buy insurance Pitch without giving that impression of trying to make a sale How to choose the best insurance plan Quotes All the benefits of a given package Bingo: car safety kit, gas cards, air fresheners for game prizes Teach women of all ages how to buy insurance Movie clips Taught in one session Samples of Real Associations: Everywoman's Evolution- Southfield, MI Inspire women to grow successfully and become independent Discusses relationships, gender roles, spirituality http://www.meetup.com/everywomansevolutionMI/ Professional Women's Club of Chicago- Chicago, IL Helping trend-setting and innovative women connect with their peers Promote business and professionalism http://www.pwcc.org/about-us.aspxSample Syllabus Car Insurance 101Fall 2010Insurance Agent: Lisa WayDate: Wednesday, Sept. 8 from 7-9:30pmLocation: Total Health Foods 13645 Northline Rd Southgate, MI 48195

Class Description:This class serves as general introduction to educate YOU how to search, find, and choose the best car insurance plan with the best benefits for your money. Free of charge, I will teach you how to compare plans to in turn save money. One class will teach you the BASICS of what you need to know before you select an insurance plan. Below, I will layout a schedule of what you will learn in 2 1/2 of this class.

7:00: Introduction

8:00: Lecture Why do I need insurance? Descriptions of types of coverages Liabilities, bodily coverage, deductibles and others How to use safety equipment Quotes, comparing and Saving9:00: Bingo for prizes

9:30: Overview and Questions

Thank-You for Participating

Event Details

A pink State Farm tent will be set up ran by a femaleState Farm agent/representative. She will provide insuranceinformation along with food and refreshments, in turn creating future customers.

Location: Walk for Breast Cancer

Free Foods Offered: Chilled water bottles Granola barsGames: Bingo Moon bounce Event Specific Promotional Items: Light pink Live Strong type arm bracelets that say Walk for Breast Cancer with the breast cancer logo, the pink ribbon, and also the State Farm logo Pink breast cancer/State Farm key chain flash lights Pink breast cancer/State Farm water bottles

If cosponsoring an event make sure the State Farm logo is represent on the events t-shirts under sponsors

SOCIAL MEDIA

State Farm Women Agents will have blogs set up through WordPress linked to their Facebook, Twitter, and LinkedIn accounts.

Women reps will update their blogs weekly and give tips how to help successful women with everyday issues.

From buying a car to buying a house, we want to show that State Farm is always there to help you.

*For legal reasons we did not make false pages*

MEDIA PLAN

HERES A CD OF OUR PRESENTATION

THANK YOU FOR THE OPPURTUNITY FROM TEAM IVS

________________________________________________Cierra CrawfordAmber Deedler

________________________Laura Gougeon

_______________________________________________LaShondra PotterKyle Wimbush

www.StateFarm.comClient History:

1922-1942

Established in 1922 by George J. Mercherle as a mutual automobile insurance entity.

The group was decentralized in 1928 when employees from both the Bloomington, Illinois and Berkley, California offices established the first branch office. This change brought services closer to customers and provided better support for agents.

In 1935 State Farm expanded in different areas of the U.S., offering new subsidiaries including State Farm Fire and Casualty.

Expanded into Toronto, Ontario in 1938.

Reign as the nations top auto insurer began in 1942, and has remained #1 every year since.

1954-1972

Adlai Rust took over State Farm leadership in 1954, every year since the CEO has been apart of the Rust family.

In 1961 offered other subsidiaries including State Farm Life and Accident Assurance for New York, Connecticut, and Wisconsin to meet life insurance requirements. To protect high risk motorist in the state of Texas, the group established State Farm County Mutual Insurance Company of Texas.

In 1964 State Farm became the largest insurance writer in the world.

In the late 1990s State Farm Florida Insurance Company focused on homeowners, renters, and condominium unit owners in Florida. In Illinois they focused on consumer-oriented financial products, which helped promote offerings of personal insurance.

The current corporate headquarters in Bloomington, IL opened its doors in 1972.

1985-2003

Current CEO Ed Rust was elected President and CEO of State Farm in 1985.

By 1987, due to employee growth two buildings were added on to the headquarters.

During 1990s customer response systems were developed in order to better service customers 24 hours a day, 7 days a week.

State Farm developed statefarm.com in 1995, allowing customers to get rate quotes, check claims, find agents, plan for retirement and pay bills.

In 2003 State Farm launched seven saving strategies to help middle class Americans increase their savings. In addition the group announced their expansion of investment products to include State Farm College Savings Plan which was sponsored by the State of Nebraska.

2005-Present

During 2005 State Farm expanded their advertising efforts and teamed up with NCAA and CBS sports. The group marketed through television, radio, print, and joint marketing.

Signed a three year deal with NFL for exclusive marketing sponsorship in 2006.

In 2008 introduced moGeorge J. Mercherle Founderof State Farm InsuranceEdward B. Rust Jr.Current Chariman and CEO of State Farm Insurancertgage life insurance to provide a death benefit that can be used to help pay off mortgage balance in the event of the insureds death.

In 2010 recognized for insuring 40 million automobile drivers in the US. Every 1:5 cars is insured by State Farm.

Product Description:

State Farm is a mutual insurance group that primarily operates in the United States but also in some areas of Canada. They are licensed to sell insurance products in all 50 states of the US, District Columbia and provinces of Alberta, New Brunswick, and Ontario Canada. This company employees about 68, 517 people and is ranked amongst many large brands including Nike, Coca-Cola, Starbucks, and Google. State Farm provides property and casualty insurance, life and health insurance, annuities, mutual funds, banking services, and reinsurance products for both individuals and small businesses.

Whether its in schools, communities, online through statefarm.com, or offline at one of more than 17,000 agents offices State Farm is there. Even with growth and progression of technology State Farm still strives to help customers through real face to face and personal experiences. The company still operates under the founders mission operate fairly and do the right thing for our customers. In addition State Farm does right by the community also, as they are involved in sponsorships, safety programs, education leadership, and service-learning.

Being highly ranked and very involved in the community still leaves room for challenges. As much as State Farm does the company is often taken for granted. As many people as they insurer and support in the community State Farm seems to be unknown. It is often confused with one of its top competitors as people try and put the Allstate face to the State Farm brand.

One reason people may have a hard time recognizing and emotionally connecting to the brand is due to their conservative marketing approach. While trying to be safe and not alienate anyone State Farm also took on many roles and tried to satisfy the needs of everyone.

To overcome these barriers State Farm needs to target more of a general audience instead of several individual groups to make sure everyone is covered. For starters the company can put a face to the brand possibly a representation of the friendly local insurance agents. They need to associate themselves with something attention catching and memorable through advertising to help separate themselves from competitors. One way to do this is through social media, by getting their names out there on the internet through various new schemes. An while technology becomes increasingly more popular to handle business they should inform people about the ease of paying bills, reporting claims, accessing accounts, and many other functions that are available online even through the iPhone.

State Farm needs to remain ranked among the top brands and number one in its industry but needs to make some adjustments. The company can still maintain its conservative image and Like a Good Neighbor, State Farm is There slogan. However, they need to take advantage of opportunities that will make consumers fall in love with the brand.

2005-Present

During 2005 State Farm expanded their advertising efforts and teamed up with NCAA and CBS sports. The group marketed through television, radio, print, and joint marketing.

Signed a three year deal with NFL for exclusive marketing sponsorship in 2006.

In 2008 introduced moGeorge J. Mercherle Founderof State Farm InsuranceEdward B. Rust Jr.Current Chariman and CEO of State Farm Insurancertgage life insurance to provide a death benefit that can be used to help pay off mortgage balance in the event of the insureds death.

In 2010 recognized for insuring 40 million automobile drivers in the US. Every 1:5 cars is insured by State Farm.

Product Description:

State Farm is a mutual insurance group that primarily operates in the United States but also in some areas of Canada. They are licensed to sell insurance products in all 50 states of the US, District Columbia and provinces of Alberta, New Brunswick, and Ontario Canada. This company employees about 68, 517 people and is ranked amongst many large brands including Nike, Coca-Cola, Starbucks, and Google. State Farm provides property and casualty insurance, life and health insurance, annuities, mutual funds, banking services, and reinsurance products for both individuals and small businesses.

Whether its in schools, communities, online through statefarm.com, or offline at one of more than 17,000 agents offices State Farm is there. Even with growth and progression of technology State Farm still strives to help customers through real face to face and personal experiences. The company still operates under the founders mission operate fairly and do the right thing for our customers. In addition State Farm does right by the community also, as they are involved in sponsorships, safety programs, education leadership, and service-learning.

Being highly ranked and very involved in the community still leaves room for challenges. As much as State Farm does the company is often taken for granted. As many people as they insurer and support in the community State Farm seems to be unknown. It is often confused with one of its top competitors as people try and put the Allstate face to the State Farm brand.

One reason people may have a hard time recognizing and emotionally connecting to the brand is due to their conservative marketing approach. While trying to be safe and not alienate anyone State Farm also took on many roles and tried to satisfy the needs of everyone.

To overcome these barriers State Farm needs to target more of a general audience instead of several individual groups to make sure everyone is covered. For starters the company can put a face to the brand possibly a representation of the friendly local insurance agents. They need to associate themselves with something attention catching and memorable through advertising to help separate themselves from competitors. One way to do this is through social media, by getting their names out there on the internet through various new schemes. An while technology becomes increasingly more popular to handle business they should inform people about the ease of paying bills, reporting claims, accessing accounts, and many other functions that are available online even through the iPhone.

State Farm needs to remain ranked among the top brands and number one in its industry but needs to make some adjustments. The company can still maintain its conservative image and Like a Good Neighbor, State Farm is There slogan. However, they need to take advantage of opportunities that will make consumers fall in love with the brand.

Competition:Below is a Media Plan to demonstrate what months advertising expenditures should be distributed. To target women effectively, advertising should be spent in this given time frame. For Non-Traditional Media, research shows that November February and July are the most relevant months to target women to movies. Surrounding Valentines Day in February is the best month for theater advertising. Print and Direct Mail ads need to be dispersed during the months with the highest vehicle sales. Promotions can be given out at any given time depending on the event, activity, or any other medium taken place. Our Primary Focus, Social Media must be advertised during every month in the year to keep a clear, crisp communication between customers and State Farm.

Media Plan Sept.Oct.Nov.Dec.Jan.Feb.MarchAprilMayJuneJulyAug.

Public Relations

Non-Traditional Media

Print

Direct Mail

Outdoor

Brochures

Promotions

Social Media