State Farm: Who's got an agent?
Brand/Client: State Farm
Lead Agency: Alma DDB
Contributing Agencies: OMD Latino, The Marketing Arm
State of the brand's business
Insurance is boring, complicated, and inherently designed to be unrewarding even under the best circumstances. People buy insurance because they have to, and, left to their own inclinations, will give it the same level of thought they usually reserve for buying a ten-pack of gym socks. Now add to that encouraging situation a huge recession – one that made necessities like shelter, food and jobs feel like luxuries. Socks and insurance just didn't rate.
With people trying to cut costs as much as possible, those of us in the protection racket took a hit. In early 2011, a State Farm study of Hispanics' shopping and switching motivations revealed that 41 percent were trying to cut costs. Soft new car sales, fewer cars added to current policies and fewer reinstatements were also impacting the insurance industry.