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How would you promote renters insurance to Millennials?
Challenge Type: business
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$1,600
top 50%
112
submissions
DONE
86 months

Placing a high value on life experiences in their 20s and often graduating in debt, many Millennials postpone traditionally "adult" events to their 30s. Milestones such as getting a car, settling down, and buying a house have been delayed a decade while renting has become more of the norm. Although the majority of this generation chooses to rent, many do not fully understand or take advantage of renters insurance.

As Millennials move out on their own and decide to rent an apartment in the city or a house in the suburbs, we want to figure out the best way to educate them on renters insurance and encourage them to utilize this valuable coverage before the other landmark events of adulthood begin.

Please read this article to learn helpful information about trends in Millennial renting and renters insurance.

**Geico is seeking potential new hires!! Submit your best ideas as they represent what you might offer as a candidate!

Deliverables

Create a marketing plan that targets Millennials to get renters insurance, learn about renters insurance, or spread the word to friends and family about the benefits of having renters insurance.

Your submission should include:

  1. Description of what would persuade a Millennial to get renters insurance (1 paragraph)
  2. Marketing plan showing how you will target, educate, and empower Millennials about renters insurance to turn them into ambassadors for the product (2-5 paragraphs)
  3. Explanation of why your plan is the best way to reach Millennials and how you envision them getting a renters insurance quote (1-2 paragraphs)
  4. Please include a representation of your plan in addition to your write-up. This could be a customer journey map, a graphic representation such as a storyboard, a depiction of marketing personas, etc.

Bonus

Provide links or examples of other companies who have appealing or impactful renters insurance campaigns or material.


Considerations:

  • Your marketing plan (deliverable #2) should be a majority of your submission.
  • Check out this quick guide for tips on assembling a successful plan.
    • Submissions will be graded on the following criteria:
    • Meets Deliverables
    • Creativity
    • Clarity
    Reward Tiers
    Top 10%
    will share $1,000
    Next 15%
    will share $400
    Next 25%
    will share $200
    Actual individual rewards will be based on the total number of eligible solutions.
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