Data Driven Member Acquisition
In the nine years since the Affordable Care Act dramatically altered the health insurance industry, health payers have worked hard to expand and improve coverage options to meet the varying needs of the more extensive and increasingly more diverse breadth of potential members. In preparation for this year’s upcoming enrollment periods, health plans are now working to take their range of plans to market with strategic campaigns that they hope will effectively attract and acquire more members.
Luckily, gone are the days of ‘spray and pray’ marketing. We have access to more data than ever before and are living in an age of genuinely sophisticated analytics. Add to that the ever-multiplying choice of channels from which to choose, and the reality of microtargeting is upon us.
Imagine the impacts on ROI and cost-per-conversion reduction if you could implement modern targeted campaign tactics cohesively and effectively?
6 Ways to use data to empower your member acquisition campaigns this enrollment period
Leveraging the breadth of data available today, you can truly understand your members and therefore develop more meaningful and effective marketing strategies that will motivate them to action.
1. Customer Profiling
Customer profiling helps you get to know who your members are. What are their behaviors? What are their interests? What are their wants? The answers to these questions are then used to describe your audience in certain ways: Preferences, lifestyle, stage of life, attributes, traits, etc.
With a documented short-form description of your ideal customer profile, you can analyze the transactional behaviors by segment. This analysis will identify trends and patterns, for example, purchase behaviors, tv watching habits, social media practices and/or their propensity to respond to direct mail.
Once your segmentation is complete, you should start to see measurable differences between your segments and better understand the different needs for each. By targeting each segment, it will be much easier to craft relevant messages and creative assets that will engage your audience and prompt them to action.
4. Optimized marketing mix
Having now developed meaningful value propositions per segment, you can optimize your channel selection based on their propensities, buying behaviors, and hangouts. Thoughtful allocation based on sound data ensures you maximize your marketing budget and improve ROI.
5. Campaign optimization
As you embark on your campaigns, regularly measure their effectiveness by each segment and across all channels. Should you find, specific targets are not responding as expected, tap into the performance metrics to adjust approach or messaging accordingly.
6. Results measurement
At the end of enrollment season, it is also essential to evaluate your results compared to your objectives. Post-campaign evaluation has many benefits:
- First, you will be able to confirm successful campaign elements as well as illuminate areas of weak performance
- You will gain a better understanding of your target audiences and how they responded
- You will be able to score yourself on ultimate campaign effectiveness to your objectives
- It will provide you data to inform and educate key stakeholders on campaign details
- You will be armed with knowledge to help you improve future campaigns
At GuideWell Connect, we use data and analytics to drive all of our integrated consumer engagement solutions, whether we are Consulting on market assessments, media mix, and allocation, or win-back strategies, or when we are employed by health plans to manage their brand and member acquisition campaigns year after year. Our team has spent years creating making data actionable to support health plans with member acquisition including:
• Segmentation Models
• Response Models
• Customer Profiling
• Data-Driven Creative
• Text Mining
• Sentiment Analysis
• Conversion Modeling
• Renewal Propensity
All combined, we have become the industry leader in health plan member acquisition, with revenue attainment 1,200% above the industry average.
Contact Us to contact us to see a 50% improved response rate with our data driven member acquisition solutions.