The unlikely link between Taylor Swift and insurance advertising
aka the power of mascots for BFSI firms
What’s with that clickbait subjectline, you ask? Well… A bunch of kids from my FLAME University classes have been coerced into subscribing to this newsletter to get course credit excitedly and completely of their own volition signed up for this newsletter. So I had to do something to show off my Gen-Z bonafides. Admittedly, though, I’ve read more articles about Tay-Tay’s cultural relevance than actually heard songs of hers, but hopefully that doesn’t take away my creds. Not that there were any left after I bunged in the I-word in close proximity to said superstar in the subjectline.
In any case, most of the aforementioned kids already know what I’m talking about - it happened at the top of the month - so for the rest of us, here’s a lowdown.
Taylor Swift is allegedly dating Travis Kelce, an NFL player (The only thing I know less about than popular music is rugby… Or whatever that sport is called). Given the superstar’s long-single status, this created quite a frenzy, especially when she landed up at a game to watch him. Next to her was Travis’ mom.
And then, came in Ryan Reynolds. Yeah, that one. Deadpool and three-in-one ad guy.
With his marketing firm, he did some moment marketing - but not in the sad way most brands desperately do - but by getting an insurance’s brand’s real-life mascot to hang out with not Taylor, not Travis… But Donna, Travis’ mom - who had became pretty popular by association by this point.
Anyway, Donna would drop in on another game to watch her other son play a game, and Jake from State Farm Insurance snuck a selfie.
It kicked up quite the media storm and State Farm was praised for quickly latching onto a cultural moment. Here’s how the whole thing went down, and here’s a nice video too:
And here are some crazy results.
What’s the takeaway for brands from all this? Try and latch on to moments? Make Taylor Swift references? Get Ryan Reynolds to market you?
Well, sure… But for me, there’s a better one - The power of giving your brand a little personality which multiplies moments like this. Most of us in India are unlikely to follow an American insurance company (heck, or any Indian ones for that matter) on Twitter, so take a look through Jake’s feed. It’s genuinely fun, a true personality that just happens to be the face of a serious insurance company. I mean, these are technically tweets from a BFSI company!
As I’ve written before, financial companies don’t have to be boring in their communications. There are several ways of being interesting - having an over-the-top relatable mascot is certainly one way of doing so in the social media age. I am immediately reminded of another such ‘character’, Flo from Progressive Insurance. She’s been on the socials for well over a decade. Here’s a history of the character, starting with an innocuous TVC.
Maybe one miss is the Old Spice Guy, who starred in that iconic commercial, whose popularity (coinciding with the birth of meme culture) would then go on to become a full digital campaign.
And then that was it. Despite a brief comeback with a son, “Old Spice Guy” never really had a social media presence in the way Flo or Jack does. One reason might be that the actor himself is pretty popular so demarcating the two might be a little tough? Still, feels like this was an intellectual property ripe for the social media age, one in which brands like Wendy’s, RyanAir and McDonald’s succeed thanks to “intern sass” rather than a character per se. I mean, look at GenZ’s love for the Duolingo Owl.
I think humans like characters and mascots. Maybe one key to good content marketing might be there. I mean, wouldn’t you rather see LIC get someone to rap about their dreams rather than… Whatever this is?
Something I wrote
I spoke with Arindam Paul, CBO of Atomberg, and perused his goldmine of Twitter threads, to come up with a handy-dandy guide for SME founders: What are the metrics to track? And some tips. I think you’ll find it useful!
Thanks as always to Meeta from The Hard Copy for the idea and helping me refine this.
Updates
Proposed Indian regulation might remove the immunity that online platforms have against what users say on it (similar to the Section 230 battle in the US, I guess). If platforms are liable for what people on it say, that could reshape how these platforms operate in India.
Netflix is coming up with more ad options (including show title sponsorship).
X users in New Zealands and the Philippines now have to pay $1 a year to prove they’re not a bot… Or more likely Musk is trying something, anything.
And wow, X is doing badly - traffic, revenue, everything but Musk’s own profile. I’ve found myself using the platform less and less myself.
PVR-INOX launches a monthly subscription program. This is part of a larger story - while theatre chains in the US are facing trouble, PVR Inox delivered its best quarterly results here.
But wait. There are Netflix Houses!
ChatGPT will soon get live internet browsing capability.
The Krafton BGMI esports finals in Mumbai was as big as any major sporting event - 20000 attendees, Neeraj Chopra distributing prizes worth 2cr, and Sportskeeda coverage. And many sponsors.
Free digital streaming of the World Cup has taken the mickey out of TV viewership.
YouTube has come nifty new UX features.
Forget Logan Paul and KSI, here’s a collab that really matters: NVidia and Foxconn teaming up to build “AI factories”.
ChatGPT now has the ability to generate images, in its pro versions. (I tried it and it didn’t work, just giving me a bnunch of strings. Midjourney it is, for now)
Reads
The JWT (ad agency) brand has now been laid to rest. A nice read about its India connection.
AI hype: Yes, transformative. But $200T transformative?
Stanford is rating various AI models on transparency. The winner: Meta! Good read about this (paywall).
Wishlisting as a way to increase revenue for ecommerce companies.
How the first company to use Google Ads built its business (a lobster gifting company!).
Apple’s new video reactions are making therapy incredibly awkward.
As America’s GPS system ages, rivals are catching up.
Silicon Valley doesn’t understand the concept of fun - that reflects in the crazy amount of productivity software, and the death of the metaverse.
Ending how we started - with Ms. Swift. Theatres in the US are treating her Eras Tour concert film like a concert - with selfies, singing and dancing encouraged.
Recommendations: The History of Rock
Readers of this newsletter already know of my proclivity towards guitar-oriented music. So true to form, I’m going to share a few excellent videos that are beautiful edits as much as they are informative.
The first is a stunning story of rock told through a Facebook timeline - complete with reactions and actual quotes.
And then there’s this power-packed performance by the genius behind 10 Second Songs. I am sure I know this byheart by this point.
And for those who’re more guitar inclined, here’s a history told through riffs.
Right then, see you next week with more things from the internet!
Chuck