Fastest Growing Insurance Company
by Maria Peralta
Insurance; A topic that scares and confuses many. With so many companies, Americans right now do not really go for the quality, they think more of price. There is only one company that I have seen change the perception of this consumer market; State Farm. State Farm is a 500 fortune company and currently dominates the insurance world. In 2021 they earned a total of $66.9 Billion dollars in overall business with a net gain of 1.9 billion in revenue. A sum that does not even compare to how much their competitors are earning. With strong marketing and PR tactics, it is impossible to not know who State Farm is. Just their catchphrase alone “Like a good neighbor, State Farm is there” has become so popular, that even kindergarteners are aware of who State Farm is. Their “mascot” Jake from State Farm has become so popular, that he is now on platforms such as TikTok with his own handle @jakefromstatefarm doing trendy challenges and inviting NFL players to his TikTok like Patrick Mahomes.
Like a good Neighbor, State Farm is there.
State Farm is known for its strong slogan. It is impossible to not know their
catchphrase. It is the first thing that comes up in every commercial, every radio ad, and every printed ad. As you are saying it, you are humming the tune that goes along with it too. They have made it to where their logo, slogan, and mascot—Jake is imprinted in your brain when you think of State Farm. This is something that I think State Farm has done better than its competitor. Comparing it to Allstate or Geico, who I would consider their biggest competition, they have not been successful in imprinting their brand/company on consumers as State Farm. Even looking at progressive, who are very successful with their mascot Flo, we still do not remember their slogan as vividly as State Farms. They have made it to where you think of Insurance and they are the ones that come to mind, which is why I think they have had so much success with the number of customers they bring in. Their signature color is red. Their logo is specific to them, so much-- that the red they use for their logo and marketing ads is copyrighted. This specific red must be used in every ad or commercial that State Farms puts out. By doing this State Farm has created a uniform look to everything they release, again associating something small like the color red back to their brand.
Jake from State Farm
Back in 2011, State Farm started releasing ads that were made to be humorous and showcase real-life workers assisting customers in the most random scenarios. This is how Jake from State Farm was born. He was an actual representative from their contact center who got chosen to be featured in their commercials. He was seen answering a phone call at about 3:10 A.M from a customer asking for information about his claim. When his wife takes the phone and asks what he is wearing, again another signature catchphrase is born, “uh Khakis.” This began a huge campaign strategy from State Farm. They essentially created a “good neighbor” Jake. Jake was then featured in all future commercials. There were even people
dressed up as Jake from State Farm for Halloween. State Farm saw this as an opportunity to associate their brand with a face. The public reacted so well to Jake they still use this concept to this day. While the actor has changed, State Farm has shown new ways to reach its audience with Jake. They even started this new campaign called #TeamStateFarm where instead of having a huge commercial air on the Super Bowl, Jake is on TikTok! Customers will now be getting the chance to be featured in Jake’s TikTok, by duetting his video with a skill or a popular trend.
State Farm continues to Evolve:
State Farm continues to stay on trend, so they can expand markets and continue to grow. As mentioned before, they are now on popular socials such as TikTok. They have also been featuring campaigns that show their support for the LGBTQ+ community and how they honor diversity. Jake has been seen hanging out with popular rap Drake, and a couple of NFL players. Recently they have been trying to change their slogan to "Here to help life go right." They acknowledge that their company has been changing and expanding and understand the importance of having the perfect slogan. They have slowly been incorporating this slogan onto their new commercials and ads. Overall State Farm seems to research and follow upcoming trends, making them fit for their company. They have a strong knowledge of what has been attracting their consumers and what will keep the company growing.
About the Author Maria Peralta is a Public Relations Student at the University of North Texas. Maria is on her way to earning her Bachelor’s in Journalism with a concentration in Public Relations, being a first-generation graduate. She will soon graduate in December 2022.