Transcript The Power of Trusted Choice

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?
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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….
2 Color (horizontal, vertical, taglines)
Black only (horizontal, vertical, taglines)
Blue only (horizontal, vertical, taglines)
Agent Benefit - #2
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 - #3
Access to professionally produced
advertising materials
Tag-able Billboard, Print,
Television & Radio Ads
Agent Benefit - #4
Presence on the agency locator at
www.trustedchoice.com
Agency
Locator
Agent Benefit - #5
Extensive library of consumer content
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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 - #6
Customizable press release templates
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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
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They have been vetted with an expert so there is no
E&O exposure
Agent Benefit - #7
Syndicated content feed
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Automatic update of consumer website
content
Content
Automatically
Updated
Agent Benefit - #8
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 - #9
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 Benefits - Recap
As a participating agency in Trusted Choice®, you get:
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Consumer-tested logo & Pledge of Performance
National advertising exposure
Advertising materials
Agency locator on www.trustedchoice.com
Extensive library of consumer content
Customizable press release templates
Syndicated content feed
Backing of more than 60 leading insurance carriers
Marketing Reimbursement Program
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/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:
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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)
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 flights
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
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 on
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
[email protected]