The Advertising Playbook for Insurance Brands with Garth Knutson, Chief Marketing Officer at Aflac
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Garth shares with us why most Americans make their health insurance decisions during football season, the greatest industry differentiators, and how a brand like Aflac adapts its advertising strategy to the new macro environment.
“We need all these different formats, sizes, versions, and lengths. And that is a challenge, especially in an inflationary environment where media cost goes up while marketing budgets are not. So we have to do more with less.”
— Garth Knutson
Garth Knutson, CMO at Aflac, is an advertising and marketing professional with eighteen years of experience developing and launching brands, campaigns, and marketing programs for small Fortune 500 companies. Before Aflac, Garth held several marketing roles in companies like Amazon, Publicis Seattle, and WONGDOODY.
Many people don't understand how much an insurance company depends on advertising to create an identity. Compared to a physical product, insurance is intangible, and people gain an association with the brand through advertising. How much you invest in advertising and how you lead your marketing strategy is a core differentiator on who wins and who loses in the insurance category. On the latest episode of The Speed of Culture podcast, Garth gives us a lesson on how to win at the insurance game.
Advertising in the Insurance Industry - An insurance company depends on advertising to create an identity and thrive as a business. People gain an association with the brand through advertising, which is why the insurance category invests so heavily in it. For Aflac, that is the core differentiator between who wins and who loses in the insurance category.
Adapting to the New World of Advertising - Aflac has a great history and has created an iconic brand in the US through its advertising on television. But as new generations grow, Aflac focuses on shifting its advertising and go-to-market efforts from linear to digital.
Football Plus Insurance - Aflac invests heavily in advertising during the football season. Most people make the biggest healthcare decisions, like buying insurance, during Q4 and Q1 because that is when most are going through open enrollment. And the open enrollment season just happens to correspond with football season.
Listen to Garth on the Speed of Culture podcast today to learn how to lead a winning marketing strategy for health insurance brands.
