Bolder Thinking Blog

Podcasts open the door for personal lines insurers

August 25th, 2020 | Nicole Bond

Podcasts create an opportunity for insurers to develop personal relationships. However, not all P&C insurers are utilizing podcast as an advertising medium, even though there are so many opportunities to reach different audiences. 

GEICO keeps it light and broad.

GEICO follows its mass-market approach when it comes to its podcast strategy — reaching far and wide to capture a variety of audiences. After heavily promoting its bundled savings early this year, GEICO revamped its messaging to focus on savings with its Giveback campaign, with a narrative built around the tag line, “What are you waiting for?”

When the podcast featured a celebrity host, GEICO personalized its spots with host read, scripted advertisements. GEICO tapped into the popularity of former Bachelorette, Kaitlyn Bristowe, to promote its Giveback Program — in an attempted humorous tone.

Progressive caters its tone and content.

From sports, to murder mysteries, to the latest news — Progressive continually altered its tone and ad copy to fit its target audience. For example, it took on a more professional, business-like tone when speaking to This American Life listeners. 

Progressive tapped into Cold Case listeners’ love of tracing facts when uncovering the discounts available for its auto insurance coverage. “Fun fact, Progressive customers qualify for an average of six discounts…” according to the voiceover. This ad, like others, leveraged its expertise as a selling point.

State Farm immerses itself, completely.

State Farm stood out as the majority of its ad narratives embraced the nuances of podcasts as an advertising medium. It flawlessly integrated itself into the flow of each show with seemingly organic, host-read endorsements.

The Ron Burgundy Podcast is one example of State Farm immersing itself with an active audience, non-intrusively blending its spots with overall humorous content of the show.

State Farm loosened the reins when Dax Shepard ad-libbed his more personalized “endorsement.”This spot, like others, organically fit the natural flow of the show, while continuing to ensure a personal connection to the host and their passions.

What we think 

Podcasts open the door to highly engaged, loyal audiences, providing a key opportunity for insurers to build organic relationships.

As insurers try to capture the attention of a wide variety of listeners, they have to immerse themselves in the varying narratives across shows. When creating a podcast strategy, marketers should keep in mind:

  • Stand out. As podcasts become a more popular medium for advertisers, its crucial for spots to capitalize on the story-telling element of their content. Traditional “radio-type” advertisements will go in one ear and out the other, as listeners are hooked into the show’s narrative and will likely disregard any advertisement that feels like an intrusion. Podcasts grant access to an audience that is ready to listen, but marketers could miss the opportunity to capture their attention with unrelated, bland offers.
  • Blend in. Craft a narrative within your offers that blends with the overall story of the show, by promoting offers that are not intrusive or hard selling. Rather, use this opportunity to build a relationship with the show’s audience, and earn top-of-mind recognition by telling the story behind your offerings. Tap into the reach of podcast personalities and allow them to ad-lib memorable stories into your existing value propositions.