Three Billion, Seven Hundred and Sixty-Eight Million Dollars per year is how much the Top 5 property & casualty insurance companies spend a year on advertising!! That comes out to about $12 for every legal citizen in the United States. As you may have guessed, Geico
(Berkshire Hathaway) is the leader with over $1-Billion, followed by Allstate, State Farm, Progressive and Liberty Mutual. Why do you think these four spend so much chasing Geico?
Remember when every billboard was a law firm or the Yellow Pages were mostly lawyers? Why is there a Burger King or Wendy's by every McDonalds?
They all are following their competition and doing what they see working for them. If you see your competitor in the Val Pak mailer for the past year, you might want to consider advertising in the next Val Pak. Your competitor is not going to continue advertising where he is not getting any leads. Just like we would pull your ad out of a magazine if we were not getting any leads.
Start paying closer attention to the places your competitors are advertising. If they are in a magazine for more than 6-months, call and get the rates for that publication. If it fits into your marketing budget, you may want to move things around and get in there as well.
Have a Happy Fat Tuesday and St Patrick's Day!
~ Allen Jernigan, CEO