Promotional Plans

Allstate Insurance

The Allstate Insurance Corporation, in my opinion, has a very strong and effective promotional plan. I believe that in order to be successful, companies that offer intangible products/services, such as insurance, need to work harder and be more creative in giving the product a life that somehow appeals to the audience's senses and sensibilities. Allstate Insurance, through its many strategies, satisfies every qualification that defines a company with a strong promotional plan.

Strong Branding

Allstate Insurance, known for the "You're In Good Hands With Allstate" slogan, was founded in 1931 as part of Sears Roebuck (another household name) and therefore has a long standing presence that has been embedded in the public's psyche for 80 years. There is a big trust factor involved with this type of industry which is why entire generations of families have been insured through Allstate and the upcoming generations will most likely continue the cycle if they are confident that the company has served their family faithfully. Just the fact that they have been in the market for close to a century has contributed to the company's continued success.

Being in the market for so long has made Allstate a witness and participant in many of the tragedies, catastrophes, wars, economic downfalls, etc. and the company capitalizes on the fact that it was there for people during trying times (one of their TV spots talks about how they've been through "many recessions and 12 recoveries").

Allstate's brand "personality" stands for something. The slogan "You're In Good Hands…" evokes images of somebody helping you up when you're down; the actual logo is a picture of two protecting hands in a cradle-like position and in sum, it evokes feelings of trust, confidence, security and strength.

Strong Market Position

Allstate has a nationwide presence and is one of the nation's largest publicly held personal lines insurers and is very well positioned relative to its more recent competitors such as Geico, Nationwide and Progressive that offer lower rates for most of their services. Allstate's position is that a low price is not a good value if quality and performance are not where the consumer's expectations are. There is a "recognition of quality", again, Allstate not only offers insurance, but protection and the prices are based on value, that is why the prices can be higher than a Geico, due to the confidence in the brand.

Product Mix & Market Development

Allstate offers consumers many insurance products – auto, home, property, life, retirement – that can be accessed through Allstate agencies, independent agencies and Allstate exclusive financial representatives in the U.S. and Canada.

In addition to serving the general market, and in order to heighten awareness and continue building brand recognition, these products are also offered to other markets. Allstate ranks first among auto insurers in advertising spending targeted to the U.S. Hispanic market. These efforts have been made through targeted and specific advertising campaigns. The advertising is culturally relevant and is seen on Hispanic networks, spot television, cable and magazines. The diversification has no doubt been a fruitful avenue for Allstate.

Strong Promotional Mix

Allstate has developed a strong promotional mix designed to reach every possible consumer.

In terms of advertising, Allstate appears in every possible medium – television, radio, print, direct mail, electronic media, cinema and gas station monitors, social mediums (RSS, Facebook, Twitter, YouTube) and the consistency in advertising and advertising spending allows the company to reiterate their story of "You're In Good Hands" often. (Allstate's advertising spending is currently amounting to approximately $125 million per year).

Allstate also launches promotions that reward the customers for their brand loyalty, for example the "sign on early discounts" and the "safe driving awards".

In terms of marketing sponsorships and events, Allstate is associated with the most prestigious and enduring sponsorship properties in the country, such as College Football, the Mexican National Soccer Team, the United States Olympic Team, the Sugar Bowl, and NASCAR to name a few. By aligning with these events, Allstate is able to connect with the consumers in new and relevant ways. The company also continues fostering positive