In our previous article, we learned in detail about the SWOT analysis of Progressive. In this article, we are going to elaborate on the marketing strategy of Progressive – One of the best Insurance companies.
The third-largest auto insurer – Progressive is the market leader and serves the people in the US with insurance products that are low in rates but of superior quality. The major goal is to ensure that their clients are satisfied. In addition, it wishes to promote society as a whole, which includes fair job possibilities.
Marketing is an essential component of a company’s DNA that may make or break its success. As users all around the world migrate to the digital sphere, marketing has followed suit. If you’re interested in learning more about new-age digital marketing, IIDE’s Free MasterClass on Digital Marketing 101, taught by our CEO and Founder, Karan Shah, is a great place to start.
Before diving into an in-depth review of its Marketing Strategy of Progressive. Let’s begin by learning about Progressive’s origins, competition, and digital presence of the company.
About Progressive – Company Overview
America’s fastest-growing auto insurance company – Progressive was founded in the year 1937 by two guys from Cleveland named Joseph Lewis and Jack Green along with a few lawyers who were just getting started with their careers.
Progressive started by only dealing with Motor insurance but now it has vast insurance offerings and extended services to all-terrain vehicles, motorcycles, boats, commercial vehicles, trucks, trailers insurance etc. It also provides home, life, pet, and other insurance.
Progressive truly believes in making innovative approaches to auto insurance. Progressive people and their work culture are best at creating the unexpected auto insurance experience for their customers. Progressive is built on ingenuity, perseverance, innovation, resilience, and hard and honest work.
| CEO | Tricia Griffith |
|---|---|
| CMO | Remi Kent |
| Area Served | The U.S. |
| Industry | Insurance |
| Market Share/ Revenue | 13% |
| Vision | $48.098B |
| Vision | Become consumer’s number one choice and destination for auto and other insurance. |
| Tagline | Think easier, think Progressive. |
Marketing Strategy of Progressive
There is my topic that will be included in the marketing strategy of progressive which will help you to understand more about it. Let’s begin with Segmentation, Targeting, and Positioning.
Segmentation, Targeting, and Positioning
Segmentation:
- Customer segmentation is the practice of dividing customers into groups that share important characteristics, needs, and goals.
- This way businesses can offer various tailor-made products and services to different segments. Market segmentation in the healthcare industry is a relatively recent idea.
- It offers insights into how patients behave in a setting where patient-centred care, which is predicated on people taking more active roles in managing their healthcare plans, is quickly gaining ground in healthcare.
- The distribution channel, insurance type, coverage, end-user type, age group, and location are used to segment Progressive’s market share.
Targeting:
- The target market for Progressive is adults between the ages of 31 and 45. These customers are getting married, starting a family, and purchasing a home.
- Consumers who are going through major life changes are especially motivated to purchase life insurance.
- What happens to your family if you die? If you have insurance, you’re probably under the impression that they’re covered. After all, life insurance protects 52% of the population.
- You could be completely wrong.
- When they die, over half of all Americans will leave their families in financial ruin.
- It’s also not because they haven’t made preparations. It’s more likely because half of all life insurance policies are underinsured.
Positioning:
- Progressive made its positioning by providing affordable insurance, focusing on social schemes, and building a strong supplier community.
Marketing Campaigns
Turning Into Mother
In this Progressive Insurance campaign video, it shows when a couple moved into a new home her husband started acting like his mom which makes his wife’s life a little hard and it basically says Progressive can’t protect you from becoming your parents but they can protect your home and Auto.
Jurassic World
In this advertisement for Progressive, it shows that a dinosaur comes into a Drive-in cinema and starts destroying the cars and everything then the salesperson of Progressive comes and says if you are bundled with progressive then you save money and you get round-the-clock protection. It shows if you got progressive insurance then your damage will be claimed easily and you don’t have to worry about it.
Life Lessons
In this advertisement a father is repairing his bike and giving a lesson to his son about how a little elbow grease can do just about anything then a salesperson comes from behind and tells him it’s never too early to learn that he can save money with America’s number one motorcycle insurer and then another salesperson comes and says it’s not just about saving but the friends we make along the way. It shows how progressive insurance is an important lesson in life.
Social Media Marketing
Progressive can be found on Facebook, Instagram, Twitter, and Youtube
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510,801 people follow and 499,370 people like |
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53.5k followers, and 689 posts |
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Youtube |
70.6k subscribe and 94 Uploads |
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77.1k followers and 23.8k tweets |
Progressive has active social media marketing by posting at least once or twice every week. They basically post about how people can get offers and discounts on their insurance and the safety tips for the vehicle.
SEO Strategies
Progressive has great SEO Strategies. It has 506,925 organic keywords which is a great number in Seo Strategies and the traffic of 5.5m on the website in a month is an amazing number.
Progressive employs an SEO approach to the best degree possible. As we’ve seen, the majority of its traffic (more than 75 per cent) originates from internet searches. Progressive is responsible for 95.44 percent of organic traffic, with the remainder coming from sponsored advertising programs.
This demonstrates that Progressive is fuelled by a flawless SEO approach as well as putting in the necessary effort to maintain the brand flying in the Google organic SERP rankings.
Influencer Marketing
Nowadays when Influencer Marketing is very much in the trend where brands advertise their products and services with celebrities and sportsmen at this also Progressive Insurance is not connected with Influencer Marketing. If they were in influencer marketing they may have gotten much more popular and the sales may have increased.
E-commerce Strategies
Progressive has an eCommerce Strategy. It is easy to find its e-commerce store on its website and people can easily buy insurance and other services on the website. They have also given their contact details if anyone has any problem they can contact them 24/7 and they have also given the information about the company if anyone wants to know about them.
Mobile Apps
Progressive has its own mobile app which works smoothly and customers can easily find different insurance and other services which they are looking for.
Here are some things you can do with the Progressive App:
- View coverages, discounts, ID cards, documents, and policy details.
- Report and add photos to a claim.
- Pay your bill by credit card, debit card, or checking account.
- View your billing history and upcoming payment schedule.
- See your progress in Snapshot®.
- Quote or make a policy change.
- Request roadside assistance, exactly when you need it most.
- Take and submit photos of documents that we’ve requested from you.
- Get in touch with your agent and claims rep.
- Start an auto insurance quote—and then buy online
Content Marketing Strategies
Nowadays Progressive is posting music videos like Girl you drive me safely and Insure you do by Driver’s Ed with Ed Helms to sell their insurance policy and make the customer realise the importance of insurance and why they should buy insurance for Progressive insurance.
They are also posting different types of offers and discounts on their social media which is also helping them to attract customers to buy more policies from them.
This ends the elaborative marketing strategy of Progressive. Let us conclude our learning below from the marketing strategy of Progressive.
What’s Unique in Progressive’s Marketing?
Progressive is the third-largest auto insurer in the United States. It is one of the oldest insurance companies, with the primary goal of ensuring customer satisfaction.
Progressive’s marketing techniques provide excellent outcomes because of an amazing SEO approach, social media marketing, suitable segmentation, positioning, and targeting. It is critical for the organisation to comprehend the significance of digitization and how it is altering the whole marketing landscape.
Today, digital marketing is the heartbeat of an organisation’s marketing efforts and the one which can stay ahead of its competitors through using innovative digital marketing strategies is the one that leads the industry.
Digital marketing is crucial since it links a company with its clients when they are online and is effective across all sectors. It links businesses with ideal consumers through SEO and PPC on Google, social media marketing, and email marketing. If you would like to learn more and develop skills, check out IIDE’s 4-Month Digital Marketing Course to learn more.
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 Progressive has given you a good insight into the company’s marketing strategies.
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