State Farm's Next Door Cafe Offers Financial Advice in a Relaxed Way
Michael Hines — January 13, 2012 — Business
References: nextdoorchi & springwise
State Farm's Next Door cafe is a new place for Chicago-area residents to seek advice on finance and insurance. The cafe is designed to be a pressure-free zone and comes complete with free WiFi. The spot also features a meeting room and a library, both of which can be used free of charge. The artisan coffee and delicious baked goods are sold for profit, however.
The purpose behind the Next Door cafe is to help the Illinois-based State Farm interact more with the community. Offering a relaxing place complete with free financial advice and coaching is a great way to win over the people around you and make new friends. With the world economy the way it is, don't be shocked to see this new trend of "freevertising" grow.
The purpose behind the Next Door cafe is to help the Illinois-based State Farm interact more with the community. Offering a relaxing place complete with free financial advice and coaching is a great way to win over the people around you and make new friends. With the world economy the way it is, don't be shocked to see this new trend of "freevertising" grow.
Trend Themes
1. Relaxed Financial Services - Companies can create low-pressure environments for consumers to learn about financial services and insurance, becoming trusted advisors in their communities.
2. Community Interactions - Businesses can seek to build relationships with their surrounding areas by offering helpful resources and information in a welcoming setting.
3. Freevertising - The concept of providing a free, value-add experience to potential customers can help companies stand out and generate positive word-of-mouth marketing.
Industry Implications
1. Financial Services - Financial services companies can create community spaces that provide low-pressure advice, in turn driving growth and connecting with customers.
2. Retail - Retailers can expand their offerings to include valuable workshops or consultations that create connections with potential customers.
3. Hospitality - Hotels and restaurants can offer financial services as a unique amenity, providing guests with a useful benefit that can improve their travels.
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