GEICO Saves 15 Percent Or More By Discontinuing Advertising

WASHINGTON, DC—Executives at the car-insurance company GEICO learned Monday that they could slice 15 percent or more from their operating budget by discontinuing their extensive TV advertising campaign. “We couldn’t believe it when we found out how much we could save by axing that ad campaign,” said Tony Nicely, GEICO’s chairman, president, and CEO. “Dropping that CGI gecko saved us a quarter of a million dollars—and it only took one phone call to our marketing department.” Nicely added that sometimes a company has to save money to save money.