Geico ad campaigns and how they made the company successful - Research Paper Example

? Geico Ad Campaigns In the current era of increasing modernization, technical advancements and upgradations, the companies have widely taken the opportunities offered by the diverse media to present their distinctly produced goods and services. The technology has granted the companies a great chance to attain competitive advantage and create market positioning in order to capture their share and meet the desired growth patterns in the presence of tough rivals. This paper discusses the qualitative and distinctive features of the Geico advertisement campaigns along with eh brief history and background of the company. It also facilitates the reader with the knowledge regarding the way that the Geico ads have made the company successful in the industry. GEICO Company History The history of GEICO traces its name back to the year 1936, and this was the time when the very first customer of the company had received GEICO insurance. The name ‘GEICO’ stands as the abbreviated form of the Government Employees Insurance Company, and was chosen for the insurance company because the first customers were only government and military employees. The founder of the company, Leo Goodwin, had discovered a strategy to decrease the automobile insurance coverage costs through the selection of potential customers from prime groups. Through this strategy, the company was able to make good savings, which were then, transferred to the holders of its insurance policies at the time of the initiation of their association with GEICO (GEICO, Online). Products and Services The business strategy and a sophistically thought-out model of the business, linked to the transferring of savings to policy holders, performed really well and in absolute favor of the company. Currently, the company also offers other services such as auto insurance, ATV Insurance, Motorcycle insurance, Renters insurance, Homeowners insurance, Life insurance, Boat insurance, Car insurance, Identity theft protection and other related services to its cutomers. The company works to find its way to lower its costs and other overheads in order to maximize the savings so that more can be transmitted to its customers (Ben, Online). Advertisement Campaigns The advertisement campaigns strategy of GEICO integrates within it, and incorporates a vivid amount of mail circulars, radio advertisements, television parody and other forms of advertisements. The company has primarily utilized the punch line, which is "fifteen minutes could save you fifteen percent or more on car insurance." According to the owner of GEICO, Warren Buffett, approximately more than 40% of Americans are capable of making big savings on their money by utilizing the services and features of GEICO. He also mentioned that, if possible, then he could even have invested $2 billion merely on the advertisements of the company. There have been numerous advertisements of GEICO which have become the memorable one shot ads. They include many the following: A man owns a dog who wears a fire propinquity suit and a man's dog wears a fire proximity suit as he distributes the insurance company’s competing bill for the reason that it is "too hot to handle". The duck is on the advertisement and is found saying (while clearing throat), "Am I on? GEICO could save you hundreds of money on car insurance. Result..." The bill is then removed by the duck and, in its place, a smaller bill is shown, while saying, "...Smaller bill." Another impressive advertisement shows that a long distance phone call is placed by a man through the operator. He uses the code name Bob Wehaddababyitsaboy in order to evade the call charges which could be billed to the recipient of the call. This commercial was run on for several weeks over the televisions and was named joke and had a pitch for GEICO. The ad was accompanied by the shot of a man who was shown further exploiting his name trick on the telephone. He was seen saying "Last name is Wehadababyitsaboyandweighs8pounds3ouncesandisdoingfine". This commercial had captured the attention of many viewers and had increased the popularity of the company. However, it was later edited again and the ending joke was removed while a line was added in the end, "Don't cheat the telephone company, save money the legal way with GEICO" in its place. The company, GEICO, has adapted and attached itself to the unique functions of assisting people |in helping save the money after spending it on their car insurance policies. The company has become strength to be considered in the world of advertising. Not only this, but due to its creative advertisement campaigns, GEICO was the people’s most favorite advertising icon in America during the year 2005. The TV and radio commercials of the company have captured the attention of the audience all around the world while being irrespective of their demography, psychographic or behavioral reactions (Llovio & Louis, Online). Success of GEICO Company The idea of the GEICO Company has been extracted from the creative sessions which have taken place at the ad agency of the company. The successful advertisement campaigns of the company have created a successful organization through the creative advertisements depicting various animated ads and involve in the launching and promoting of the products and services in an interesting manner. The company has met its success through various benefits that it offers to its customers. They include: Discounts The company, GEICO, offers various discounts and rebates from the range of good student discounts, good driver discounts, established customers discounts, multiple policy holder discounts, automatic payments and other numerous discounts. These price cuts and price saving schemes encourage the customers of the company to stay with it as the loyal customers. Besides discounts, the companies offer various other products including security/anti-theft systems, air bags, anti-lock brakes, and car and daytime running lights (Malykhina & Elena, Online). Customer Services GEICO, as a customer centered organization, stand out in providing various methods and easy strategies. After providing the reporting and tracking claims to the customers, the company also aims at providing the full time physical and virtual services to the customers. The policy holders of the company are allowed to report their tracking claims to the motorists or the in charge of the operations online, so that they are freed up of the added responsibilities of travelling or spending time listening to and adjusting with the agent. Through, the company can be accessed through the phone lines for the purpose of convenience, claims information or policy formation; still the lines of easy communication are open to them. The reputation of GEICO for its loyal customers is shown in the form of services that the company provides to them which proves to be a true catalyst in the retention, satisfaction and savings of its policy holders (The Hartford Courant, Online). Policy Flexibility Regarding its policy attributes, the company is incredibly flexible and only crafts the policies which are customized suitably to the budget and needs of its policyholders. It also extends its savings of the streamlined business model in a successful manner to its customers. GEICO gives it customers the opportunity and freedom to avail all the service whether they want o decrease or increase the deductibles on their policies, looking for the multiple insurance schemes, reducing coverage to liability or want to manage the payment cycle. On all these benefits, these customization by the consumers can be done over the phone call with its insurance agent or online. Thus, all the customers of GEICO, irrespective of their demography or psychographic are eligible to all the benefits and solutions offered by the customers. Advertisement Campaigns Besides all these services, the advertisement campaigns of the company have helped it provide excellent and utmost satisfactory services to its customers. The most inspirational and convincing ads produced by GEICO in order to promote its products have become the eye catchy source of advertisement for the organization. All the virtual resources of the company, ranging from its TV advertisements, radio commercials, attractive pamphlets and brochures, to its attractive and information loaded websites have become the guarantee of the ‘success of GEICO. Not only has this, but the advertisement campaigns of the company featured all its products, services and salient characteristic which GEICO can easily provide to its customers. The multiple services, discount offers, loyalty incentives, and other promotional schemes are featured on the ads of the company. The advertisements and other commercials have also helped spread the awareness and information regarding the company, its products and services on a mass level. In this way, the sales, and ultimately profit generation of GEICO has sped up and the company is on the leading list amongst its competitors and other market leaders (USA Today, Online). The ad campaigns of GEICO serves to exemplify the concepts that the company has attempted to stretch upon and the marketers’ imaginations are obvious in the style the ads are presented. It would be real adequate to say that the marketers of the company constitute of a purely imaginative group of people. The company, in some ways, has turned the strategy of conventional advertisement into the modern form of advertising by running an array of advanced campaigns. It has come up with a great storyline and a good form of action and animation in all its commercials. At the same time, the creativity of the marketing group of company has helped capture customers’ attention in order to increase the sales and revenue generation of the organization. Thus, the promotional advertisement campaigns of the company have helped the organization succeed. The benefits, customer services and creative marketing have helped the organization reached the peak of its progress. Works Cited Ben. The Inoculated Investor: 2009 Berkshire Hathaway Annual Meeting Notes. Accessed online Retrieved July 27, 2011. GEICO. GEICO Mania sweeps the country. GEICO. Accessed online. Retrieved on July 27, 2011. Llovio, Louis. Martin Agency rolling out new ads for GEICO. Richmond Times-Dispatch, 2009. Accessed online. Retreievd on July 27, 2011. Malykhina, Elena. Geico Poses Rhetorical Questions. Brand Week, 2009. Accessed online. Retrieved on July 27, 2011. The Hartford Courant. Little Lizard Says 'Ello To A New Inflection. 2006. Accesed online. Retrieved July 27, 2011. USA Today. Gecko wasn't first choice for GEICO. 2006. Accessed online. Retrieved July 27, 2011. Read More