HAPPY NEW YEAR! And time for the most quickly abandoned part of your year – the New Year’s Resolution. For Healthcare marketers in 2015, there are several resolutions that could last you through the year, and benefit you for years to come, with just a little investment on the front end. So here are the Top 5 New Year’s Resolutions for Healthcare Marketers:
- Lose Weight and Get Fit – Is your marketing approach a little “bloated?” It may be time to get in the gym and do a little exercise – in “test and learn” data modeling and creative! The best way to improve your member acquisition marketing in 2015 is to first identify the right targets and set a learning agenda on how to most effectively engage prospective members on their terms.All prospects are not created equal, so leverage predictive modeling to better understand your target audience.See which creative treatment resonates best with different segments. You’d be amazed how much changes in fonts or visual treatments can impact response rates. To stay in shape throughout the year, measure, learn, adjust, and deploy.You will be running faster and lifting more weight with your marketing deployments as the year goes on.
- Learn Something New – Whether you are learning to juggle (your priorities) or a new language (the Affordable Care Act), the New Year is the time to become more member centric by providing more personalized content regardless of channel preference. In turn, you will learn something new about your members – where they spend their time; whether direct mail works best when combined with banner ads and email, or as a standalone tool; if emerging disciplines like gamification can actually improve member health. No matter what, you will gain insight that will impact future campaigns and provide impact on both your marketing efficiency and member experience with your brand.
- Save Money –In 2015, you can lower acquisition cost per lead and cost per new member enrollment and essentially fill your piggy bank for the New Year. Evaluate your KPIs and adjust them if necessary to provide for a meaningful scorecard to measure your improved performance. Save some time and money by working with a partner to do a competitive analysis between your AEP marketing and communications approach and your competitors. You can learn from what they are doing right (or wrong) and develop a leaner marketing plan that cuts out the speed bumps along the way.
- Make New Friends – Who doesn’t want more friends? Institute a more comprehensive “on-boarding ” program for new members, and you can forge a life-long bond between you and your members that will make them much less likely to attrite. There is no better time to build a healthy relationship with a member than the first 90 days of after enrollment.Your goal should be to build trust with a member which in turn can result in improved member loyalty and lifetime value. Good news - new member onboarding simultaneously decreases customer support time while increasing profitability in a measurable way.
- Be Less Stressed – Finally, make your marketing department “too blessed to be stressed!” Evaluate and then re-evaluate your AEP acquisition target strategy by considering elements like more robust predictive analytics and in-depth data modeling, based on demographic attributes combined with your profile of the ideal customer. Let the data do the work for you. Lean back in your armchair and watch the results roll in, until it’s time to evaluate again (remember test and learn!)
Follow these Resolutions and you will be well on your way to a prosperous New Year, for you AND your members.