Shopping for insurance isn’t typically considered a “fun” activity. Rather, it’s something that consumers purchase only when they need to. So, from a marketing perspective, insurance companies like State Farm need to assess—as accurately as possible—a customer’s stage in their buyer journey. According to State Farm marketing head Alyson Griffin, who spoke with sister pub AdExchanger, it’s just as important to invest in media placement as it is to invest in brand marketing and generating awareness.
A 102-year-old brand such as State Farm has a lot of data that shows just how long it takes to pull the trigger on a million-dollar life insurance policy, she added. “Insurance companies have a lot of data,” Griffin said. “We just match up that future demand pipeline with capturing current demand and make those measures appropriately.”
In an AdExchanger podcast on data-driven marketing, Griffin discuses marketing’s true value, reaching gamers, courting Gen Z audiences and a bit of celebrity gossip. Plus, here’s a deep dive on how State Farm partnered with Roblox on a metaverse activation and CMO Kristyn Cook’s vision for its TikTok success during the last Super Bowl.