WalletHub – Q; Do you think Liberty Mutual’s tagline about customizing insurance to customers’ needs really distinguishes it from other insurance companies?
A: The “only pay for what you need” campaign is supported by several humorous vignettes with established characters, building familiarity and trust. The storylines are attention-getting, memorable, and pleasant. This is the strength of this campaign.
Wallethub – We ask Kevin McEvoy:What does it say about car insurance companies that so many have celebrity endorsers?
Car insurance companies, as well as all insurance companies, need to find ways to differentiate themselves from competition. This is not an easy thing to accomplish when the product is not something consumers enjoy thinking about or purchasing. Plus, products can appear so similar.
WalletHub – Is it fair for consumers to assume that the most popular credit cards are the best credit cards?
“Popular” need to be defined as “most used,” or as one of the current ad campaigns says, “What’s in your wallet?” In this sense, it is not really a matter of fairness, it is a matter of delivered value.
Wallethub – Which do you think is a better indicator of a good car insurance company: low rates or good customer reviews?
Shopping for insurance is really a multi-step process. Low rates are an attention-getter. They will stop and attract a shopper but will not automatically convert a shopper into a customer.
Kevin McEvoy, an assistant professor-in-residence in Marketing, has been selected to receive the University’s Faculty Excellence in Graduate Teaching Award.Continue Reading