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Marketing and Sponsorship

Auto-Owners Insurance Extends NASCAR Deal With Furniture Row, Doubles Paint Schemes

Auto-Owners Insurance (AOI) this morning announced a multiyear extension with Furniture Row Racing’s No. 78 Toyota driven by Monster Energy NASCAR Cup Series driver Martin Truex Jr. in a deal that will see the company up its investment. As part of the pact, Michigan-based Auto-Owners will move from three primary races annually to six. Financial terms were not disclosed, but a source said the team typically asks $400,000-450,000 per race for primary sponsorship. The 101-year-old insurance firm sells its products through independent dealers in 26 states, and leveraged the NASCAR program to increase its policy counts in NASCAR hotbeds, host its independent agents at tracks and increase brand recognition. AOI VP/Marketing & Sales Drew Klasing in an email to THE DAILY wrote that AOI did increase its policy counts in its targeted areas last year. Klasing added that the program has helped spark a noticeable uptick in the company’s social media following.

STICK WITH WHAT WORKS: Klasing wrote of why the company both extended and increased its spend, “It was successful. Our goals have shifted slightly this year, and that is why we’re increasing our spend. Last year we used the sponsorship to focus primarily internally on building relationships with our agents and associates, and connecting with fans and policyholders who were already in our agents' offices. This year, we want to ... add an entirely new focus on interacting with fans and driving new business to our independent agents.” AOI works with Charlotte-based Spire Sports & Entertainment for its NASCAR marketing, and the agency helped negotiate the AOI extension. The deal leaves the No. 78 car with 10 open races to sell out of 36. Bass Pro Shops will take 16, and the team says it has a new partner to unveil in the coming weeks. Team Owner Barney Visser’s Furniture Row store chain typically takes whatever is left. Furniture Row Racing Dir of Sales & Marketing Neale Hood negotiated the deal for the team.

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