Previously we saw the SWOT analysis of Metlife, today let’s look at the marketing strategy of Allstate.
Allstate is a multinational company that specializes in insurance and financial services. The company is known due to its effective services and marketing strategies. Digital marketing is the new way of marketing especially now when everything is moving online. If you want to learn more about digital marketing, do check out Free Digital Marketing Masterclass by Karan Shah the founder and CEO of IIDE.
In this blog, we will look at the marketing strategy of Allstate but before that let’s know some facts about the company.
On April 17, 1931, Allstate Corporation was founded. The firm operates primarily via sectors such as Allstate e-insurance company, Allstate Life Insurance Company, and other subsidiaries.
In the United States and Canada, the corporation primarily engages in the property and casualty insurance sector, as well as the sale of life, accident, and health insurance products.
Its headquarters are in Northbrook, Illinois, in the United States. Allstate became a publicly traded firm in 1993 and is now listed on the New York Stock Exchange (ALL).
|CEO||Thomas J. Wilson|
|Area Served||The United States, United Kingdom, Canada and India|
|Market Share/ Revenue||US$44.588 Billion (2021)|
|Vision||To deliver substantially more value than the competition by reinventing protection and retirement to improve customers’ lives.|
|Tagline||You’re in good hands|
Marketing Strategy of Allstate
Allstate marketing examines the brand by marketing framework which includes maintaining performance and also the competitiveness of already existing business to leverage on large investments, especially in the various parts of the operation, these marketing strategies contribute to the growth of the company.
Segmentation, Targeting and Positioning
Marketing is the process of breaking your target market into approachable groups. This segmentation is based on key markets which the company wants to target, the main target audience of Allstate was certain cities that were economically well developed.
In targeting the main aim is to select the most attractive segments to focus your marketing on. Allstate companies’ main aim or target was to reach more people within the segment which we have mentioned before which is Economically developed cities.
It is the act of designing a company’s product or image in a distinctive way such that it influences the mind of the target audience as well as the target market. Some of the key images that Allstate has created in the market stay different from other sources.
Allstate conducted a series of marketing campaigns named ‘Mayhem Hashtag Challenge’ in which Mayhem, the star in the advertisement, became a distraction for the car drivers. Delivering the message to avoid Mayhem distracting stunts & lack of impulse control can become your problem.
Focus on the road, avoid watching Mayhem and save cash with Drivewise in the Allstate app. Users and the customers of Allstate enjoyed this series of advertisements.
In 2020, Allstate launched #OneTen a groundbreaking coalition of leading companies coming together to train, hire and advance one million Black Americans’ careers over the next ten years. To keep it continue they came up with the hashtag #keepthemomentum.
The campaign’s motive was to make today’s kids learn about black American history and to respect every culture, colour, ethic and code. The campaign got enough traction and discussions from the audience, many appreciated Allstate considering this agenda.
This week of nurses in May was celebrated by Allstate by congratulating and appreciating all the nurses who were on the spot 24/7 in tough times. With the hashtag #NationalNursesWeek, Allstate posted several posts in which they were seen giving special thanks to the nurses doing good in communities and within the Allstate family. The campaigns got immense love and support from the audience.
Social media marketing
The optimized use of Social media marketing allows greater reach and flexibility in reaching and targeting customers. Marketing on social media is also very cost-effective which is very helpful for startup companies. It also helps the company to learn about the buying patterns of their ideal customers. Now let us look at the social media followers of Allstate on various social media sites.
Facebook: 886k followers
Instagram: 35.1k followers
Linkedin: 308k followers
Twitter: 86.3k followers
They are most followed on Facebook with 886k followers and they are most active on Instagram and Facebook. Since most of us buy goodies online be it of anything having a good number of followers is very essential when it comes to Allstate company they have a good amount of followers on Facebook and LinkedIn but still lacking behind in the number of followers on Instagram and Twitter.
Allstate stays active on social media by engaging its followers with interesting posts based on discussions, celebrations, insurance-related products and services promotion, empowerment & momentum posts etc. Their content is highly promotional and highly engaging in nature.
SEO is an organic process through which we get our website to rank higher up on any search engine for higher visibility. In today’s day and age, it is very essential to stay visible on the search engine because that is where most of the buying and selling happens. Let us first understand the metrics with which we measure the success or failure of the SEO strategy of a firm. The number of organic keywords – below 500 is bad, above 1000 is good, 10,000+ is amazing. The number of organic keywords here is 691,043 therefore we can say that the SEO strategy of Allstate is really amazing.
Allstate to date only did a series of advertising campaigns by on-boarding the American star Mayhem. Mayhem through his acting skills and funny performance got enough traction on all the social media handles of Allstate. Allstate customers and the potential audience got influenced and enjoyed watching the series of advertisements.
Allstate stopped this series in 2021, but in January 2022 they bought back Mayhem to continue promotions.
As we know Allstate is a company that provides insurance services, so we can see that all of the services are provided from their centre itself. Through their website one can request a quote for the particular insurance they are seeking and then Allstate will directly connect that person with one of their customer executives.
Users can find all the details and benefits included in different insurance products & packages through the Allstate website.
Allstate has several mobile apps including Allstate Motor Club, Allstate Identity Protection etc. From these, the application for the general public which is Allstate Motor Club offers users to quickly and easily request roadside assistance to be sent to their location.
Allstate Motor Club members can only access all the benefits of their membership plan. Services for vehicles outside the membership plan are subject to fees.
Allstate is a social media powerhouse where it uses various platforms like Instagram and Facebook in which they post various informational content about their company.
Allstate also has a separate page on their website where they provide stories and tips for everyday life. The blogs are informative and knowledge-based for users.
This ends the elaborative marketing strategy of Allstate. Let us conclude our learning below from the marketing strategy of Allstate.
Conclusion – What is unique Allstate marketing?
Allstate company India’s first digital insurer company the brand has created a unique platform in terms of secure insurance policies. In three years Allstate has grown much forward in terms of technology taking it completely online and wiping out the paperwork associated with it. Allstate never fails to entertain people with their outstanding advertisements which are fun-filled and at the same time they also deliver a unique message to the audience.
As the digital space is experiencing a boom in today’s world, a company needs to do better digital marketing.
Check our Online Digital Marketing Course if you want to learn more and improve your skills. Alternatively, you can enrol in one of our free online masterclasses led by IIDE’s CEO, Karan Shah, to gain insight into the field of digital marketing.
We hope this blog on the marketing strategy of Allstate has given you a good insight into the company’s marketing strategies.
If you like such in-depth analysis of companies just like the marketing strategy of Allstate check out our IIDE Knowledge portal for more fascinating case studies.
Thank you for taking the time to read the marketing strategy of Allstate, and do share your thoughts on this case study marketing strategy of Allstate in the comments section below.