Allstate’s “Mayhem” trumped State Farm Mutual’s the “Good Neighbor” in advertising dollars in 2012.
According to an analysis by SNL Financial, Allstate’s ad spend increased 14.8 percent year over year to $828.8 million, while State Farm Mutual reduced its advertising expense 4.4 percent from the year before to $777.9 million.
SNL said that much of the Allstate advertising spending has gone into re-branding Esurance as “Insurance for the Modern World” while associating Esurance with the Allstate name.
According to SNL, a number of companies joined Allstate in upping their ad dollars in 2012. Allstate, GEICO, United Services Automobile Association, Nationwide Mutual Insurance Co., Liberty Mutual Holding Co. Inc., American International Group Inc. and Amica Mutual Insurance Co. all recorded year-over-year increases in excess of 10 percent.
