GEICO advertising campaigns
GEICO advertising campaigns are known for using surreal humor and satire, often featuring distinctive characters such as the company's mascot, the GEICO gecko. The advertising strategy incorporates a saturation-level amount of print (primarily mail circulars) and television parody advertisements, as well as radio advertisements. A common line used by GEICO is "15 minutes could save you 15% or more on car insurance."
Warren Buffett, chairman and CEO of GEICO parent Berkshire Hathaway, has stated that he would spend $2 billion on GEICO ads if he could, approximately double the spending in 2012, which was $1.1 billion, over twice that of second place Progressive Corporation, with 6.8% of premiums going into commercials. GEICO is one of the most prolific advertisers in the United States, along with telephone companies AT&T and Verizon. However, this is offset by not paying agents commissions, since GEICO uses a direct to consumer model. This has resulted in GEICO being the second largest auto insurer in the United States (behind State Farm).