Presentation on theme: "The Power of Trusted Choice® Overview: Why to Co-Brand Your Agency."— Presentation transcript:
The Power of Trusted Choice® Overview: Why to Co-Brand Your Agency
Goals An understanding of ‘brand’ An understanding of Trusted Choice ® Know where to find resources
Why is branding important to independent agents?
Why is Branding Important? Our competition is already branding independent agents — as irrelevant, unnecessary, expensive and lazy.
Why is Branding important? Between 2004 and 2007, independent agents lost 4.3% personal lines market share to direct writers Each 1% of lost market share equals about $2 billion in premium and $200 million in agency commission GEICO alone is planning to spend $1 BILLION this year on its brand Independent agents make up just under 28,000 retail locations nationally
Why is Branding Important? Why is Brand important? Helps consumers edit choices People will pay more for a name brand (think Ritz Carlton and Godiva chocolates) Attracts good employees and partners Enables you to expand product and services Helps you survive difficulty (hard market, agency merger, etc.) Builds loyalty and referrals You’re already being branded—by the competition It’s smart management
Why is Branding Important? Why should your agency brand? WPP, a leading advertising agency, conducted a global, in-depth study of brands. They found: Consumers feel 3 times closer to their laundry detergent than their household insurance provider 62% said choosing the right insurance brand was one of their most important decision, but insurance has the least brand connection with consumers In Fall 1999, IIABA hired Addison, a market research company, to conduct extensive market research: In-depth interviews — insurance companies, state association leaders, agents and brokers Conducted qualitative and quantitative research
Why is Branding Important? We/Addison asked consumers what they want from insurance agents Choice of Companies Customization of Coverages Advocacy Support 24/7 Customer Service Professionalism
Why is Branding Important? Consumers want choice, customization and advocacy….but they don’t know that independent agents offer those features. Only 1 in 5 consumers correctly recognized the old Big “I” logo — compared to 70% for State Farm.
A National Branding Initiative Solution? Trusted Choice® is a national consumer branding initiative Created by IIABA for member agents Includes member agencies and supporting companies Features a comprehensive national-local branding strategy based on significant consumer research Aggressively positions independent agents as the source for choice, customization and advocacy for consumers
A National Branding Initiative Trusted Choice® is an ingredient brand Not meant to replace your agency identity, but to enhance it It’s like the Good Housekeeping Seal of Approval To co-brand: Add the logo to your agency materials Live the Pledge of Performance Promote your agency as a Trusted Choice® agency
A Trusted Choice ® Future With all of us working together, Trusted Choice ® will become the preferred brand for insurance buyers because it: Is based on significant consumer research. Is a comprehensive branding program. Has significant agent and company support. Is more than a new logo – the logo signifies that your agency embodies the Pledge of Performance
A National Branding Initiative The Pledge of Performance The heart of any brand—good or bad—is the customer’s experience – A poor customer experience will eclipse even the slickest ad campaign – A repeatedly positive experience will make those customers your fans for life, regardless of your media efforts (or lack thereof) It is for those very reasons that the Trusted Choice® branding program includes a Pledge of Performance It is vital for all Trusted Choice® agencies to fully adopt the principles laid out in the Pledge of Performance
Agent Benefits How is my agency going to benefit by co-branding with Trusted Choice ® ?
Agent Benefit - #1 Licensed use of the consumer tested Logo & Pledge of Performance. The pledge reflects the qualities that consumers told us they want from their insurance provider, which is why it resonates with them
Trusted Choice® Logo variations…. Blue only (horizontal, vertical, taglines) Black only (horizontal, vertical, taglines) 2 Color (horizontal, vertical, taglines)
National advertising exposure combined with state association promotion. On air 2 weeks per month Extensive online/Facebook presence – national and state Facebook pages Agent Benefit - #2
Agent Benefit - #3 Access to professionally produced advertising materials Tag-able Billboard, Print, Television & Radio Ads
Agency Locator Presence on the agency locator at www.trustedchoice.com Agent Benefit - #4
Extensive library of consumer content – Consumer oriented articles for agents to use in their local marketing area – Include how-to articles (Prepare your Home for Winter) and customer interest articles (Pool Safety, Flood Insurance) and guides (Graduate’s Guide to Insurance, Auto Insurance guide) – Can include in newsletters, on their website, Facebook page or as part of a mailing Agent Benefit - #5
Customizable press release templates – Help agency garner positive FREE local press coverage and raise local consumer awareness of their Trusted Choice ® agencies. – Position agency as the authority and source for insurance information with the local media. – Access a variety of templates dealing with common insurance issues, as well as seasonal and holiday appropriate ones They have been vetted with an expert so there is no E&O exposure Agent Benefit - #6
The backing of more than 60 leading independent insurance carriers…and counting Our company partners have made a financial commitment to Trusted Choice® as a way of demonstrating their commitment to the independent agency system, and their confidence in their agents' unparalleled value. Trusted Choice® company participants realize that using a unified voice for advertising and promoting independent agents and brokers is what is best for everyone. Agent Benefit - #8
Marketing Reimbursement Program Trusted Choice ® will reimburse up to $250 incurred in 2011 to cover the initial setup fee for a Trusted Choice ® agency website or enhancements to current agency website Trusted Choice ® will reimburse agencies 50% of the cost of branding promotional items up to a maximum reimbursement $500 incurred in 2011 ($250 if the agency website is not yet co-branded) Agent Benefit - #9
As a participating agency in Trusted Choice ®, you get: 1.Consumer-tested logo & Pledge of Performance 2.National advertising exposure 3.Advertising materials 4.Agency locator on www.trustedchoice.comwww.trustedchoice.com 5.Extensive library of consumer content 6.Customizable press release templates 7.Syndicated content feed 8.Backing of more than 60 leading insurance carriers 9.Marketing Reimbursement Program Agent Benefits - Recap
Know where the tools are The Agent Web site www.TrustedChoice.com/agents You and your staff will go here for resources and tools Get the Trusted Choice® logos on this site Log in using your email address and national ID
Know where the tools are The Agent Web site www.TrustedChoice.com/agents Home page: How to update your agent profile MRP guidelines RSS feed information (automatic website update of consumer news once a month)
Know where the tools are Mouse over the Logos/Pledge tab at www.TrustedChoice.com/agentswww.TrustedChoice.com/agents for: Trusted Choice ® logos —Versions for print, web, EPS and embroidery —2 color, B&W, horizontal, vertical, taglines, no tag Logo guidelines Pledge of Performance
Know where the tools are The Trusted Choice Facebook page http://www.facebook.com/TrustedChoice Become a fan of the Trusted Choice ® and IIABCal Facebook page. Cut and paste postings from the Trusted Choice ® Facebook page to your agency webpage.
Integrating Trusted Choice® You are urged to get involved by: Fully integrating Trusted Choice ® into the firm’s culture, operations, workflow and marketing Using the Pledge of Performance to educate consumers and prospects – it helps close sales Being visible in the community with the Trusted Choice ® logo—on advertising, signage, business cards and letterhead Leveraging the logo and Pledge of Performance on the website Using the tag-able ads for local print, radio and TV campaigns (information available at www.TrustedChoice.com/agents)www.TrustedChoice.com/agents Running local print, TV or radio ads that are timed with nationwide Trusted Choice ® advertising flights. Check www.TrustedChoice.com/agents for dates of upcoming ad flightswww.TrustedChoice.com/agents Making sure information is updated at the Agency Locator on www.TrustedChoice.com because all leads from national advertising and public relations campaigns are driving consumers there www.TrustedChoice.com
Integrating Trusted Choice® Live the Brand Guide & Timeline Available online at www.trustedchoice.com/agents, mouse over the ‘Branding Basics’ tab until the dropdown menu is revealed, click on ‘Branding Articles’ in the dropdown; under the ‘Live the Brand’ headline, click onwww.trustedchoice.com/agents the ‘Live the Brand guide’ Guide contains a step by step timeline for 12 months of easy brand implementation
The Trusted Choice ® brand movement is the best opportunity the independent agency system has to significantly change consumer perception and to increase market share. For questions or additional assistance, Contact: IIABCal Member Services At 800-772-8998 TrustedChoice@iiabcal.org