The health insurance industry has been an active environment over the past few years as ACA regulations have created a new marketplace and opportunity has arisen for marketers to leverage data and analytics that set new standards for marketing in the digital age. As a colleague of mine stated in an article published earlier this year titled “Healthcare Marketing Practices Gone in the Blink of an Eye,” “the new online marketplaces with the explosive growth of digital marketing platforms present an incredible opportunity for both data-driven CRM agencies and exchange owners to simplify and personalize the health benefit experience.” In order to do just that, health insurers must be able to use available insights to effectively and efficiently market to their prospects and members through a more personalized approach across online and offline channels.A recent Forester Research report titled “Health Insurers: Prepare for Survival of the Fittest” explains the importance of customer insights on an insurer’s strategy to differentiate themselves from their competition. It also describes the need to integrate customer insight initiatives throughout your BI agenda and offers a four-step approach to start transforming your marketing culture if that hasn’t happened already.
One of the most common impediments to effective 1:1 marketing is a siloed organizational structure. As I was quoted in the Forrester report, “A cultural shift needs to happen. There is a constant struggle between IT and marketing and who owns what.” Internal silos can prohibit the ability to market to individuals in a 1:1 manner, preventing the type of personalized consumer experiences that can transition into new members and drive more profitable and efficient member experiences.
As the finishing touches for the launch of OE16 marketing programs are being placed on your plans, understanding that consumer insights and data-driven strategies are critical to the evolution of your brand will create separation from those competitors who are not embracing this approach. Employing a data-driven, technology-enabled performance marketing strategy will differentiate you from the competition in this highly competitive marketplace.