We drove through the town of Ribnica today and had to stop for a couple of minutes because of road works. My wife noticed an interesting plaque on a house, which said “Insured by Yugoslavia”. It seems insurance companies of the previous century really knew how to advertise their services.
Why is this kind of advertising good?
- Because without a doubt, all the villagers – and an occasional passer-by – notice the plaque.
- Because the neighbors see it.
- Because the neighbors then discuss their insurance policies and their advantages, and support their choice. This is a good example of word-of-mouth.
- Because if one house is insured soon there are going to be more. You know how it goes in Slovenia – if a neighbor did it, I have to do it too.
- Because the plaque says that the house has a good master.
- Because it discourages competitors’ sales representatives (on the other hand, it might invite them, too).
Later I asked my father about the plaque and he said that his father’s house had a similar one, a Vzajemna insurance company plate from before the War. It seems all insurance companies used to do it. The idea itself is nothing special; it’s been used by companies from other industries for quite some time now.
Think about it for a while. You must’ve noticed that almost every inn has its name written on a sign that also advertises beer.