It's hard to imagine that anyone in any city, town, neighborhood, or block isn't familiar with the insurance company Geico. At the same time, most people can recite their mantra "15 minutes could save you 15% or more...". Pretty amazing when you consider that back in 2003 Geico was an also ran in the insurance market. With little ad spending and small market share they were a bit player in comparison to Allstate and State Farm. However, a shift to heavy advertising spending and a relentless focus on their value-based positioning through a variety of creative executions propelled this small insurance company to number two behind State Farm.
While there are a number of lessons to take away from Geico's success, an important one is the strength of developing and relentlessly communicating a consistent brand position. In an industry with virtually no product differentiation, Geico has firmly secured a position that drives customers and business growth.