leading with relationship
DESCRIPTION
Find out how PEMCO tuned in to their customers wants and needs to build relationships and a buzzable hyper-local position in their market. Presented on 12/16/09 at Gaspedal\'s Word of Mouth Supergenius conference.TRANSCRIPT
Rod BrooksVP & Chief Marketing OfficerPEMCO InsuranceSeattle, Washington
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Evening Magazine
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PEMCO Insurance: Leading with Relationships
Rod BrooksVP & Chief Marketing Officer
PEMCO Insurance
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PEMCO Insurance: Leading with Relationships
Rod BrooksVP & Chief Marketing Officer
PEMCO Insurance
TRUST
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CONSUMER
MINDSET
CONSUMER
MINDSET
Insurance is…
The law
Not valued
Not trusted
Not well understood
Insurance is…
The law
Not valued
Not trusted
Not well understood
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ALWAYS SHOPPINGALWAYS SHOPPINGSee very little product differentiationSee very little product differentiation
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ALWAYS SHOPPINGALWAYS SHOPPING
POPO2
PISSED OFF or PRICED OUT8
Our Situation in 2007
$55 Million2005-2006
PEMCO 3%
Nationally,GEICO Insurance will spend approximately
$1 Billion2009
Share of advertising voice was less than 3% in the prior 2 years
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Our Situation in 2007
Market Share
8.3 7.9 7.4 7.1 7.2 7.1 6.7 6.40005101520
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Business Objective = Profitable Growth
Awareness Perception Preference Selection Renewal Referral Advocacy
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• 60 Years in Business
• Relationship-based
• Property & Casualty
World-Class Customer ExperiencePEMCO BUSINESS MODEL
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CHALLENGER BRANDLack economies of scale
Well-defined strategies
Highly creative/nimble
Challenge the establishment
Capitalize on WOM from loyal customers Innovative
Understand What’s Possible
CustomerIntimacy
Operational Efficiency
Product Innovation
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Some of the people we talked to!
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Some of the people we talked to!
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FIERCELY INDEPENDENT
FIERCELY INDEPENDENT
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Leaders in Innovation – Proud!
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Incredibly GREENIncredibly GREEN19
LOVE THE LOCAL GUYLOVE THE LOCAL GUY
Hometown Heros
Local Trumps LargePersonal Trumps
Price
Hometown Heros
Local Trumps LargePersonal Trumps
Price
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Odd, Quirky and Proud
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ConnectNorthwest Values To PEMCO andOwn Local
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The Perfect Storm – Convergence of Forces
Culture: Lead with relationship
VOC: Listen, organize, engage and measure
BHAG: Never have to pay for a lead again
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PEMCO’s success depends on the positive opinion of people like me. They listen, participate, encourage and enable me to share with others.
Listen
Participate
Encourage
Enable +
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Our Strategy
=
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The Journey to Making Our Brand “Talkable”
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In 2009, PEMCO sponsored more than 50 events across Washington state.
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PEMCO Brand Ambassadors
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Offline / Online Engagement
Create modular marketing tools Develop on-site promotional
activities Incite event attendees to engage
PEMCO Brand Ambassadors in conversations offline and online
Love the way PEMCO does this local stuff. Keep it up!
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Twitter: @PEMCO Twitter: @PEMCO_NWBlog: www.pemconorthwest.comMicrosite: www.werealotlikeyou.com
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Next Steps
@PEMCO @PEMCO_NW
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4-WAY STOP. NO YOU GO, NO YOU GO, NO YOU GO GUY.
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