Insurance is a giant market. It’s a product that most consumers need to purchase. It’s also a fairly bland product which presents a challenge in creating customer engagement in their social media. How do these two companies rise to the challenge? In very different ways.
What is interesting about both approaches is that neither company posts about their product but instead engage their customers by focusing on seemingly unrelated topics that are appealing and interesting. Looking closer we find their strategy is a direct extension of their brand identity.
Progressive’s posts are about new technology and science – Interesting and engaging, while at the same time, consistent with their brand identity of being innovative. State Farm, on the other hand, posts about how to maintain ones car and household tips which is consistent with their brand identity of dependability.
Looking at the statistics below, we can see that both approaches are successful. State Farm, the leader has superior likes both for their page and posts on Facebook which shouldn’t be a surprising for the leader in the industry. The rapidly growing Progressive, with 70% of the likes of State Farm, appears to be “punching above its weight” for a company that has less than half the market share of the leader State Farm.
Progressive State Farm
Facebook likes: 254,494 355,119
Twitter followers: 26,600 50,100
YouTube subscribers: 8,114 12,818
LinkedIn followers: 27,779 105,779
Instagram followers: NA 2,475
AUDIENCE: Consumers (automotive)
EDITORIAL: 1 every 2 days, new technology, science
BRAND TONE: Cutting Edge, Exciting, “Progressive”
COMMUNITY: 254,494 (Facebook)
ENGAGEMENTS: 25-50 likes per post (Facebook)
AUDIENCE: Consumers (general)
EDITORIAL: 1-2 posts per day, automotive tips, household tips
BRAND TONE: Friendly, educational, domestic
COMMUNITY: 355,119 (Facebook)
ENGAGEMENTS: 50-250 likes per post (Facebook)