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98 Managing Customers Through Economic Cycles

Allstate insurance is meeting hard times head on. In one
TV spot, featuring the reassuring actor Dennis Haysbert
(perhaps best known as President David Palmer on the Fox
drama “24”), the company reminds viewers that it got its
start in 1931, during the Great Depression. “And through the
12 recessions since,” Haysbert says, Allstate has noticed that
“after the fears subside, a funny thing happens: People start
enjoying the small things in life. It’s back to basics, and the
basics are good.” Home and auto insurance, apparently, are
among the basics.

Hyundai, the Korean auto manufacturer, is running an ad
in which the voiceover intones: “Buy any new Hyundai and
if in the next year you lose your income, we’ll let you return
it.” Because, the ad continues, “We’re all in this together.
And we’ll all get through it together.”

Additionally, Hyundai started a new program that allows
buyers to return the cars for free if they lose their job or
lose their driver’s license due to medical reasons. Tom
Hollett of Huffines Hyundai says “Losing your job involun-
tarily is a big one that I know a lot of people are concerned
about.”

The program was available for one year on all remaining
2008 and new 2009 models. Since every new customer quali-
fied, Hyundai hoped it would convince people to sign on
the dotted line. Tom Hollett says “They’re looking for a good
product and a good warranty, and something that gives them
good peace of mind that the product they own at a fair
payment is going to deliver.”

Teri Everett says “I think this is very good for people in
this slower economy. Because a lot of people are losing
their job and getting laid off, and it’s good to know that you
have the assurance that your car will be taken care of if you
can’t afford it.”*

* Source: Linton Weeks.