A progressive approach to boosting profits
Have you seen the recent TV spot for Progressive insurance?
It features a guy who confides to Flo, Progressive's ditzy sales lady that "my auto insurance is getting a little bit expensive."
Flo then brandishes what looks like a space ray gun and explains that "with Progressive, you get the Name Your Price Tool. It helps you find the price that's right for you." (If you want to see Flo with her Name Your Price Tool, CLICK HERE).
I think that this is a very powerful commercial because it dramatically and visually puts the prospect in control of the price they want to pay for car insurance.
Of course, ALL insurance companies let you name your own price. If you want $1,000,000 of insurance you pay the appropriate premium. If you want to spend less and buy just $250,000 worth of coverage, you just say so and pay the lower premium.
Progressive's innovation is that it owns the "name your own price" idea and turns a generic purchasing process into an exclusive of Progressive.
Allstate says "You're in good hands."
State Farm says "Like a good neighbor, State Farm is there."
Progressive says "Name your own price."
It seems to me that they are carving out a strong positioning that appeals to today's cost-conscious consumer.
This raises an important question for all businesses. Are you selling with banal slogans, or are you trying to "own" an important idea or positioning? The answer to this question can result in business success or failure.
If you want to discuss some positioning issues with me, give me a call at (415) 461-0672. Or have me do some copywriting for you. Home pages, landing pages, email, collateral, whatever. Whenever you have to use persuasive language to generate leads or close sales, I'm the guy to turn to. For proof, CLICK HERE.