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Similar a Geico NMDL final presentation - Chery Wangsawihardja
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Geico NMDL final presentation - Chery Wangsawihardja
- 2. Agenda Goal & Success Measurement Brand Strategy Social Media Blog Google AdWord Budget Conclusion
- 3. Goals Increase brand awareness in Midwest and increases number of policy holder. Success Measurements Average monthly search on “GEICO” from Michigan and the number of policy holder by the end of 2014.
- 4. Brand Strategy Company mission - “…to provide excellent coverage, low prices, and outstanding service.” Brand campaign goal - Communicate identity clearly and concisely.
- 5. Twitter
- 6. Facebook
- 7. Blog
- 8. Google AdWord “You can work hard on writing the most enticing ads, but if you don’t manage to put your ads in front of the right audience, your efforts will be for nothing.” – Andrew Lolk
- 9. Budget AdWord $9.00 per click Advertising Sales Agent $22.25 per hour Full-time company blogger $50,000 to $80,000 per year
- 10. Conclusion
Notas del editor
- Ay up Midwest! Well at least that how I was told British people say hi. Who doesn’t this cheery Gecko that runs around on TV, trying to help people to save up money? I hope everyone knows him because GEICO had spent almost 1 billion dollar annually on advertising. However, GEICO still does not generate enough premium to beat State Farm, Allstate, and Liberty mutual. So as I work on the digital campaign presentation for GEICO, I analyze how GEICO has been using the digital marketing tools that we have learned in the class and provide some suggestion that would hopefully increase GEICO’s return on investment.
- So here’s the goal of today’s presentation. I will talk about the goal and success measurement for the digital strategy. Then I will talk about how it can be achieve through branding, adWord, social media, blog, and PR.
- So, when I was running an AdWords campaign via AdPlanner, I saw that the keyword “car insurance” has the highest average monthly search. It was a high competing keyword with around 800,000 searches per month. Nonetheless, there’s a price for this spot. The cost was estimated around $21.61 per click. It was too expensive! Therefore, I thought why don’t GEICO make a targeted advertisement? So I began to look at different possibilities such as targeting Midwest customer whose car so accustomed to damage from potholes and winter weather? They are probably looking for a great affordable car insurance right? So that’s why I decided to set up the goal to increase brand awareness in Midwest and increases the number of policy holder. I wanted to implement the campaign in Michigan first. If it is successful then we can do the same on the other state. The success of this campaign would be measured by the average monthly search on “GEICO” that came from the Michigan. Also, success would be achieve if number of policy holder surpasses the 13 million mark by the end of 2014.
- The first step to reach the goal is to increase the brand awareness in Michigan. Successful brand campaign will communicate GEICO’s identity clearly and concisely to its customer. This means the strategy has to carefully consider the company’s mission. GEICO has proven that they are well aware of this, because at the end of their advertisement you would hear “GEICO, 15 minutes could save you 15% or more on car insurance.” That’s show how GEICO promised to deliver low prices and quick services. However, the ads were not specific enough. It might be funny, but how many people are actually convince to sign up with GEICO because they see this funny ads? I am certainly wasn’t one of those people. So, how can we make it more effective?
- After thinking about the brand strategy, the next step in the digital marketing campaign would be to use social media tools such as Twitter.GEICO has currently have an account for both the company and the Gecko. This screenshot provide Gecko’s twitter account.GEICO has strategically use twitter to create personal relationship. For the targeted digital strategy however, we could specifically use twitter to update Gecko’s experiences travelling to Midwest during winter.Gecko could talk about the challenges that he have, such as black ice or pot holes and assure customers that GEICO is ready to help.
- Other than Twitter, GEICO should also use Facebook. Right now GEICO only have an account for the company, it does not have a personal fan page for Gecko.I would suggest GEICO to make a personalized account for Gecko on Facebook because there are things that Twitter doesn’t offer, such as sharing videos, games, or even apps. Facebook also have a comment feature that would make two ways interaction between Gecko and customers more open.These features of Facebook will enable Gecko to not only show more of his personalities; it will also enable customers to speak out their mind more comfortably. Anyway, listening to the customer is the key to success.
- After customer know the brand through social media. Now GEICO should earn their trust. Saying that they have been there for 75 years will not be enough. GEICO should earn trust via blog to showcase their expertise.I found out that GEICO has actually provided some winter driving tips back on December 2012 and has updated the post in December 2013. This example is great for the targeted customer.However, I am totally surprised that I couldn’t find anything when I search for “cheap car insurance”, because Google insight shows that this is the number one information that Michigan people look for.This shows an opportunity for improvement. GEICO could write a blog about how customer could get the cheapest car insurance and optimized it with links to related post. That way customer will easily find information that they need and start to trust GEICO as their go to insurance company.
- Moreover, under the new advertising rule, we could not forsake the power of search engine. Choosing the correct keyword for AdWord campaign will help GEICO to get relevant click. It is not about getting seen. That’s why it is important to consider this after customer recognizes and trust your brand. That way, GEICO would be able to select relevant keyword modifier that includes its own brand. For example: “GEICO car insurance”
- Lastly, to make a effective and cost efficient digital marketing campaign, GEICO should make an advertising budget. Looking at the trend from 2010 all the way to 2012, GEICO had spent $902.7 M, $993.8 M, and $921 M respectively. This year, I am hoping we could drive it down to $880 M because the campaign will focus on improving the resources that GEICO had currently use. This budget should cover the cost listed on this slide.
- GEICO is one of the company that spend a ton on advertising, and I hope it would get what they had paid for. To be successful, GEICO could follow this awesome stop sign by Antonio Ferraro:First, GEICO should stop creating a new mascot.Second, think about what GEICO need to do differentiate its brand.Third, observe the market and see what customer value.Finally, proceed with implementing the strategies following the new marketing rule and provide quality service throughout the delivery.