The Affordable Care Act has given healthcare payers the opportunity to teach Americans how to buy healthcare benefits in a whole new way—online. With the launch of HealthCare.gov and the state exchanges, consumers are increasingly engaging with digital platforms to conduct research, interact with companies, and enroll in healthcare insurance. There is huge opportunity for all insurers to take advantage of this new addressable customer experience to connect directly with their targeted prospects and their own members at the point of purchase.
To drive long-term sustainable growth in this new market, one healthcare insurer developed internal capabilities and relationships with experienced partners to deploy addressable digital analytics and targeted digital media buying capabilities. Because of these preparations, they were able to exceed response rate goals by 40% while also decreasing total cost per acquisition by 39% in the 2014 health insurance open enrollment period. As you make final preparations for the 2015 open enrollment period, learn from their successful journey by addressing these following strategies:
1. The market demands segmented messaging
To overcome these challenges during the 2014 Healthcare Insurance Exchange, this healthcare payer found it important to educate prospects on the new laws and what it meant to them. Prospects were then divided into similar behavioral and belief segments and received personalized yet scalable messages to address their specific needs.
For example, the under-30-year-old segment, often referred to as “Young Invincibles,” received harder hitting messaging like: “When you’re healthy, it’s easy to imagine you don’t need health insurance. One accident could change all that.” The healthcare payer felt that this messaging was relevant to their needs and would generate action by the segment.
2. Identify your target audience online
To reach their targeted audience, this healthcare payer developed a digitally focused campaign that involved the use of direct response TV (DRTV), direct mail, digital media, paid social, and email. Armed with primary consumer segmentation and digital analytic insight, they attracted targeted prospects at the right time in their consideration cycle to drive higher acquisition rates. Furthermore, they combined online and offline CRM data and tactics that led prospects to tailored content and experiences on digital platforms.
3. Understand the capabilities enabled by your technology stack
The six-month timeline of the 2014 HIX open enrollment period escalated the need for this healthcare insurer to establish digital marketing and database capabilities that directly supported their newly found, best-in-class segmentation and targeting strategies. They weren’t able to do all of this alone—partnering with a CRM, technology-enabled partner was key to their success in this campaign as well as for preparing for the next open enrollment period. A new data management cloud was implemented as well as campaign management and business intelligence applications–over two phases—to support integrated measurement and optimization for the campaign.