The first healthcare exchange open enrollment plan (OEP) has come to an end. It’s time for savvy health plan marketers to look at the OEP sales data, discover opportunities, and create data-driven strategies to build exchange-based member growth during the next OEP.
One such opportunity lies in an overlooked segment that represents a shocking 30-40% of the market. How can a segment this large be overlooked? Because they don’t want to be found. They are do-it-yourself plan shoppers, typically under 45, who are searching for readily available plan information on the internet instead of turning to advisors for guidance. They don’t submit personal information and therefore aren’t tracked in the typical payer sales funnel.
Most payers/health insurers don’t have the analytics strategies or infrastructure to track and support sales to this audience. The ones who develop these abilities will be able to capture a large share of the $44 to $52 billion dollar annual opportunity that this segment represents over the next 10 years. Clearly, identifying, tracking, and converting these individuals should be a priority for plan providers. So how is that done?
My article in Healthcare Payer News, “The Hidden Segment,” outlines three steps to convert this valuable, elusive audience:
- Evolve traditional lead models
- Manage leads through digital technology
- Implement infrastructure to optimize your campaigns
The full article contains a detailed breakdown of how each of these steps can be achieved. Plan providers committed to growing on the exchanges must learn how to address this group effectively, because their competitors are going to.