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GEICO, which stands for Government Employees Insurance Company, is a business that sells several different types of insurances. These include: auto, motorcycle, ATV, umbrella, homeowners, renters, condo, co-op, RV, life, boat, personnel watercraft, flood, mobile home, overseas, travel, commercial auto, ridesharing, business, identity protection, collector car, and even pet insurance. Since the company has so many different types of insurances, their marketed audience is quite large (GEICO,2015).
According to GEICO’s online website the company is built on the following: “ingenuity, perseverance, innovation, resilience and hard, honest work. From its humble beginnings in the midst of the Great Depression to its current place as one of the most successful companies in the nation, GEICO represents a quintessential American success story.” (GEICO, 2015). GEICO Company utilizes a variety of marketing strategies within their multibillion dollar company annually. GEICO Company is a perfect example of an integrated marketing campaign for many reasons.
An integrated marketing campaign (IMC) is a strategy that businesses use to reach out to consumers. This is done by offering the application of brand messaging that can be conventional or nonconvential in nature. These IMC’s use different promotional strategies that reinforce one another. What separates an IMC, from regular marketing, relies on the several systems that are harmonized together to make a complete company (one that lacks not a single component). For instance, to have an IMC, you must have all of the following: public relations, print/broadcast advertising, direct marketing, email, digital and in-store promotions, and multiple stages. Missing even one of these important components can create problems within the entire system (Brown, 2014).
After analyzing this company for several months, I have found examples of each of the following components listed above. Firstly, public relations are found in a variety of places within GEICO. This idea is concerned the image the company has in regards to the general public. It is also concerned with keeping close relationships with customers and potential customers alike. Public relations communicational strategies are intended to benefit not only the company but also the public as well.
GEICO Company is very involved with customer satisfaction. Throughout several of their campaigns, the company explains how switching to GEICO can save you money. A popular quote from GEICO is actually “fifteen minutes, can save you 15% on your car insurance.” Saving money and time is most likely the key marketing message that GEICO Company aims to communicate to customers. These messages are consistent both online, in commercials, and even on printed forms such as newspaper adds.
The next concept having print/ broadcasting advertisements. This means that IMC should not only have adds online but also printed documents alike. The reasoning behind this, is due to the fact that you will lose audience members (potential customers), if the company only provides one of these. Companies can increase views if they have articles available in several forms, as GEICO does.
Say for instance, the company decided to only broadcast television advertisements, since commercials only appear for a short duration, and not every commercial is about GEICO, several people would miss these advertisements. Not to mention those who watch minimal television daily. An integrated marketing campaign must include several different forms of marketing. This way the majority of people will have an opportunity to view them.
As stated before GEICO has many forms of marketing. The Company has commercials, ads, radio talks, blogs, and other social media networking cites as well. The company is very successful in marketing their products. However, most people are unaware of all the various insurances the company does have to offer.
Most times GEICO is only associated with vehicle insurance, because it seems to be the most popularized of these insurances. For example, of all the information that I have glanced at in regards to this company, about 80% of the advertisements were related to car insurance. If I were to offer this company any suggestions, I would recommend advertising other insurances more to produce more sales.
The next concept of IMC’s would be direct marketing. Direct marketing is concerned with selling products or services directly to the public through mail order or telephone sales rather than referrals. GEICO Company exhibits these concepts of direct marketing within their business. However, GEICO has a combination of all three of these selling methods.
The Company offers mail orders in the form of magazine articles, newsletters, emails, and also catalogs. Telephone sales are conducted daily, this is done by a representative of the company. This man/ woman will call random numbers and try to sell insurances to them. In most cases, the representative will explain who they are, tell about the company, and try to persuade you into purchasing these products.
These methods only are successful, however, when the person is either uninsured and looking, or persuaded to change companies. Although in most cases, people generally do not like these forms of marketing. People often do not want to be bothered by annoying salesperson. However, these methods do seem to receive some interest, and this is why GEICO includes them.
The last method is referrals. Referrals are when someone directs you to the company. This is often done by either representatives of the company or even customers. If a customer is satisfied with the services they have received, they will often times recommend the company to someone they know, who may be looking for similar services. That is why it is important to have a good review for your company, if the customers are not content, they will cancel the insurances and speak badly about the company. This may persuade others to do the same. Direct marketing is important to IMC’s because it offers convenience to purchasers.
The next important concept related to IMC’s is emailing. Emailing services can be obtained when one visits the online websites and signs up for the service. I signed my email into this site, however I have not received any information sent to my account. I’m not quite sure as to why, possibly a glitch in the system.
Emails sent to ones email from this Company include sales promotions and different topics related to the company. For those who are interested in switching to GEICO, these emails can benefit them greatly. Emailing is responsible for sending information to all of those involved in the program. This quick communication strategy allows many recipients to receive the information with a single click of a mouse. This is important in integrated marketing plans because it allows information to reach several people rather quickly. Emailing services have been used in business for quite some time. Also, they are used for those who need to ask a question or file a complaint as well. These services are very essential within IMC’s,
Digital and in-store promotions are considered to be another important factor of integrated markets. Promotions provide encouragements to customers in hopes that they will purchase the insurance. Digital promotions can be found on GEICO.com, and are also available on social media websites as advertisements. Within the site I found promotions that are offered to several people are organizations alike.
This company also has many in-store locations that offer promotions. GEICO stores are located in each state of the United States and also in foreign countries as well. Some of these countries include: Germany, Greece, Belgium, Spain, and Japan. In-store locations offer promotions like digital cites do. However, they are more personalized because you have physical contact with representatives. In-store promotions can be discounts on services, or even giving you more services. These promotions help increase sales by providing good incentives to customers. These ideas are important to IMC’s because they provide several benefits to customers.
The last distinct quality that makes up an IMC is several stages. Basically what this means is that the company has many stages within it. There are very many jobs that GEICO offers, which can be located on the career section of the website. The five main categories are creating, selling, delight, lead, and strategize.(GEICO,2015). If even one of these are missing, the Company will see declines in sales.
The first of these jobs is titled “creating”, which involve technology. The site claims that those who are interested in architecture, networks, mobile technology or web development, would be perfect for the job. Those who work in these careers are responsible for creating website designs and structures, technologies devices, and architectural designs that are utilized in development (GEICO,2015).
The next employment opportunity available is selling. According to the GEICO website, a sales representative will: “attend industry-leading, paid sales training within either our Auto or Property insurance division, become a licensed insurance sales professional and receive inbound calls from highly interested potential policyholders, advise buyers on the insurance products they may want or need, state insurance requirements and coverage limits, prepare personalized insurance quotes, overcome objections and close sales, and receive coaching and feedback to help you further develop your sales skills.” (GEICO,2015). These criteria must be met in order to work in sales within the company. The reasoning for this relies heavily on the education and training of employees. GEICO wants people who are very familiar with marketing their services. If someone is horrible in sales, the company will let them go, because this aspect is vital in any business.
The next job the company offers is deemed “delight”. This term seemed quite odd, but these jobs refer to making customers happy. This of course, is the customer service division. As stated previously, public relations are very important to the company and their success alike. GEICO wishes to hire those who can handle customers in a positive manner and assist them with help(GEICO,2015).Customer service representative’s deal with angry people every day, the company wishes to employ those who know how to deal with this effectively and do not become rude to customers. Having a good customer service team will help keep customers and gain their satisfaction as well.
The fourth job opportunity that is offered is “leading”. These jobs refer to accounting and marketing positions. In my opinion these jobs are the most important when considering integrated marketing campaigns. I say this because this category deals directly with the marketing of the company. Since there are several marketing strategies, there must be several people working in these jobs. The last job opportunity available is “strategizing”. Strategizing is concerned with making decisions regarding the company. They help create the ideas, promotions, and enhancing tools needed for the most success. These jobs also contain data analysts. These people crunch data and information to gain statistics and conclusions on what campaigns are successful (GEICO,2015). Each of these various levels are very important to the goals of the Company and their campaign alike.
GEICO has several advantages in the insurance bracket. The company is easily distinctified, but they also have wonderful brand recognition. Many people know the company through the tiny green gecko. Every advertisement offered has this gecko included, which has been the company’s logo since the beginning. Having this well-known logo, makes the experience enjoyable while watching the advertisements.
According to Insurance Journal, all of GEICO’s marketing efforts may have made the company “unsurpassable.”2 GEICO’s various marketing campaigns have worked together to help the company insure over 20 million automobiles and make it the fastest growing car insurance company for ten consecutive years.3Thus, expanding brand awareness in suburban regions of New York State will aid in the expansion of GEICO, not only in suburban areas, but across all demographics, bringing in new business and helping GEICO continue to thrive.” (Meyers,n.d.).
This quote shows us how successful the business truly is. It’s quite fascinating that the company has brand awareness within many demographics. This awareness is not only in large cities such as NYC but also in rural surroundings as well. Over twenty-million automobiles are insured by this company, which is not the leading insurance company.
My observations throughout this semester have proven to me that GEICO, is in fact, an integrated market. This company employs a variety of marketing strategies to customers and noncustomers alike. Not only do they have a billion dollar corporation, but they always have their customer’s interest at heart. Offering many different insurance types, GEICO has a vast audience and properly handles business successfully. This is done by their fantastic integrating marketing campaign.
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