Thursday, March 12, 2009

Lazy Advertising

Last week I received my car insurance newsletter in the post, and in the enveloppe was a sticker designed to display their insurance claims phone number on the inside of the car and their logo on the outside.

While the displaying of the sticker is optional, the incentive to stick it on the car's windows is pretty good, as the insurance company has "sticker spotters" on the roads all over the country who will enter the registration numbers of the cars they see "wearing" their stickers into a monthly draw in which 5 people will win €200. At the end of the year there is another draw in which the big prize is a brand new VW Golf.

I guess that getting their customers to display a logo on their cars must be cheaper than TV advertising or paying for ad spaces on the back of buses: €31,000 (the total value of all the prizes to be won, including the car) plus the cost of printing the stickers as well as relying on word of mouth (which is a big thing in Ireland, since everyone seems to be related, or at least know someone I know) is not that big a budget for a national insurance company.

Another scheme the same insurance company has is "recommend a friend", where people who recommend that company to a friend can get a €50 discount on their next renewal date (which also makes people want to stick with the company to avail of their discount). So I've calculated that for a policy worth €400 (which is what they have quoted me for my next renewal date, as I was trying to get last year's insurance on the cheap), I'd have to get 8 people to take up a car insurance with them in order to get it for free.

I am a bit surprised to see no group on Facebook called "help X get free car insurance" yet but who knows, I might try and set up my own one of these days!

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