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©2014 Epsilon. Private & Confidential Open enrollment wrap up Your guide to learning from your open enrollment campaign and making the most of next season.

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Presentation on theme: "©2014 Epsilon. Private & Confidential Open enrollment wrap up Your guide to learning from your open enrollment campaign and making the most of next season."— Presentation transcript:

1 ©2014 Epsilon. Private & Confidential Open enrollment wrap up Your guide to learning from your open enrollment campaign and making the most of next season healthcare

2 ©2014 Epsilon Data Management, LLC. Private & Confidential 2 Understanding what worked and what didn’t is critical for successful planning for your next open enrollment period. But in an increasingly complex healthcare marketing world, there are many things to consider.

3 ©2014 Epsilon Data Management, LLC. Private & Confidential 3 Use this as your guide to getting the full picture of your open enrollment campaign. Then take these insights and apply them to the coming planning cycle to get the biggest bang for your efforts.

4 ©2014 Epsilon Data Management, LLC. Private & Confidential 4 Open enrollment campaign performance

5 ©2014 Epsilon Data Management, LLC. Private & Confidential 5 Looking at the performance of your open enrollment campaigns is the first step to having a successful campaign in the coming season. Doing what you’ve always done may lead to failure. The healthcare world is continually changing, and if you can’t evolve with it, you’ll be left behind.

6 ©2014 Epsilon Data Management, LLC. Private & Confidential 6 Channel performance Examine each marketing channel used in your open enrollment campaign for both individual and Medicare lines of business. Compare your goals against what really happened. If you missed any of your goals, why do you think that happened? It’s important to be very honest about why you think you missed your goals, because this will lead you to better results in your next effort. For instance, direct mail data may have been pulled incorrectly, or there was something wrong at the printer/fulfillment center, or maybe there was an issue at the call center. These things can all impact sales. It's not enough to just look at the obvious factors such as whether your campaign went out on time, the frequency of touch points and the performance to your projected goal. Go deeper. Was it the right targeting? Was something amiss with the copy? Being able to identify the issues provides the ability to fix these things in the future.

7 ©2014 Epsilon Data Management, LLC. Private & Confidential 7 Channel performance If you overachieved, what factors contributed to your success? It’s great if you exceeded your expectations—congratulations! But know that you still need to understand why you surpassed your goals. You don’t want to inadvertently overestimate your next campaign. Get into the details to understand why things happened the way they did.

8 ©2014 Epsilon Data Management, LLC. Private & Confidential 8 Overall performance Now that you’ve examined your channel performance, take a look at the details. Determine which leads came from each marketing campaign. Try to determine what worked and what didn’t. If you see leads or enrollments that weren’t direct conversions from a marketing campaign, can you attribute them to a campaign? Measuring leads and sales with direct attribution is a vital part of this analysis—but so is attributing the influence your marketing campaign had on sales in general.

9 ©2014 Epsilon Data Management, LLC. Private & Confidential 9 Overall performance Did your campaign go above and beyond your expected projections? If so, you need to determine if that response should become your new benchmark. If you didn’t see the responses you planned for, ask some questions to determine the reason. Was your product competitive? What can you do to improve for next season? Two performance factors to analyze: 1.What can you directly attribute to your marketing efforts? 2.Which conversions did you indirectly influence? Did you generate awareness or influence sales in some way?

10 ©2014 Epsilon Data Management, LLC. Private & Confidential 10 Other factors to consider in your analysis

11 ©2014 Epsilon Data Management, LLC. Private & Confidential 11 When analyzing the success of your open enrollment period, don’t forget about the following…

12 ©2014 Epsilon Data Management, LLC. Private & Confidential 12 Timing is everything The timing of your campaign touches relates to both channel and performance. What was your cadence in your attempts to engage your prospects? When did you make initial contact and how many touch points were included in the campaign? Through what channels? Did you find better performance with less or more touch points? Did your strategy work based on what you thought would happen?

13 ©2014 Epsilon Data Management, LLC. Private & Confidential 13 Analyze your conversion rate by service area Every service area is nuanced. In different areas, you’ll likely have different adoption rates by product. Take a look at each of them by area and try to understand what is driving the trends (e.g., perhaps a primary provider is out of network and that is negatively affecting an area’s enrollments). Gathering this information will help you to plan for the future, as well as understand the service area performance, and opportunities that may be area specific.

14 ©2014 Epsilon Data Management, LLC. Private & Confidential 14 Identify obstacles to compliance Did you encounter any compliance issues in your enrollment campaign? If a mistake was made, notify the appropriate internal compliance groups and identify how to rectify the problem. Think about how communication could be improved moving forward. You should also create a game plan for future campaigns to avoid such incidents and determine how to respond when they do occur so that your campaign isn’t stalled indefinitely.

15 ©2014 Epsilon Data Management, LLC. Private & Confidential 15 In all campaigns, you should have test plans lined up. What is the test, and what is the control for it? If your test outperformed the control, are you confident that you can expand it into other areas and see similar results? Think about testing your creative, timing and cadence of communication. Test your message or offer, and see if that results in a higher conversion rate. Because the enrollment period is relatively short, it’s important to have a plan for testing and have it ready to go as soon as the campaign starts— otherwise you’re going to miss your window to test, learn and improve. Testing, testing, 1 2 3

16 ©2014 Epsilon Data Management, LLC. Private & Confidential 16 The importance of attribution

17 ©2014 Epsilon Data Management, LLC. Private & Confidential 17 Never before have so many opportunities existed to communicate and engage with customers and prospects. However, in a multichannel environment that allows you to interact with your target audience through a variety of touch points, it can be challenging to determine which channels contributed to a policy. How do you measure where your marketing dollars are most effective?

18 ©2014 Epsilon Data Management, LLC. Private & Confidential 18 Understand the halo effect Do you have any general media (e.g., TV, radio) campaigns that may have benefitted your open enrollment campaign overall? Be sure to factor these in to your test plans and channel analysis. Typically, general media tends to be an awareness driver—and leads generated directly from this channel cannot usually substantiate the cost of television advertising alone. However, if you show the lift that it gives your other channels, it can usually be cost effective.

19 ©2014 Epsilon Data Management, LLC. Private & Confidential 19 Take a look at specialty programs such as seminars o Seminars can be one of your best performing channels, but you have to measure/compare them across the board against how your other channels are performing. How did your incentive perform? Were your seats filled? If so, at what percent of capacity? o If you had a seminar as part of your open enrollment efforts, did it perform better or worse than your other channels? Can you track it appropriately?

20 ©2014 Epsilon Data Management, LLC. Private & Confidential 20 What is your relationship between offline and online? It’s important to understand how people are interacting with your brand through all channels. Dedication of phone numbers and vanity URLs can help you understand how people are responding to different touch points of a campaign through various channels. o Are they receiving their messages in one channel and then responding through another? o What is their path to purchase? o Is there a point they’re getting stuck? o Is there a way to make it easier for them?

21 ©2014 Epsilon Data Management, LLC. Private & Confidential 21 Planning for the seasons to come

22 ©2014 Epsilon Data Management, LLC. Private & Confidential 22 It’s your time to shine. After all of this looking back and careful analysis, you have the information you need to be successful in the next season. Now for the fun part—creating engaging, targeted campaigns centered around the customer experience that will help you to blow last year’s campaign out of the water.

23 ©2014 Epsilon Data Management, LLC. Private & Confidential 23 Know the playing field. What is your competitive advantage? When planning for your next open enrollment period, you need to analyze your benefit structure against that of your competitors. There are many factors that could give you an advantage or disadvantage against other plans offered in the area. The in-network options and specific benefits offered in an area could work for or against you. Understand these and know how to market them to their full potential.

24 ©2014 Epsilon Data Management, LLC. Private & Confidential 24 Craft your messaging Get information on what audience or segment typically purchases a certain product. Then market to others who are similar. You can pick more targeted, personalized product messages for the right segment so that you aren’t overwhelming them. Analytics are your friend here. In your past campaign, you’ll want to see if the segment purchased what you thought they would. Use that insight to determine whether messaging needs to change. Have a strategy of what you think you want to say, and then test against it to confirm your theory. In crafting your message for the coming open enrollment period, you need to keep who you want to attract top of mind. It’s all about using data to profile and understand propensity. Then make your message match.

25 ©2014 Epsilon Data Management, LLC. Private & Confidential 25 Get the most from your modeling Modeling can help you to determine who to market to in a given area. In your last campaign, you should evaluate your model’s performance to see if your model worked. Look at who actually responded or converted. Was it who you thought would? Is the model performing as expected? Or does it need to be revised and rebuilt? This type of analysis is essential to getting the most for your money in data modeling. If you’re not continually looking at your model and updating it, it will degrade over time.

26 ©2014 Epsilon Data Management, LLC. Private & Confidential 26 Establish a producer strategy Producers are integral to your success, although they can be more costly to your overall acquisition strategy. Do you know where your policies are coming from? What portion is coming through government programs and exchanges? What portion is coming through the producer channel?

27 ©2014 Epsilon Data Management, LLC. Private & Confidential 27 Establish a producer strategy How do you balance acquisitions that are coming in through various channels? You should have an idea of the breakdown of acquisitions by channel. If a predominant number are coming from producers, can you redirect some to a less costly channel (e.g., call center) to help overall cost savings. It’s all about balance. Knowing how important the producers are to your success, consider whether there is anything you can do to help them be successful. Can you create education programs? Incentives? This can be an important channel in achieving your goals, so it’s important to know how this channel is working for you and to determine what your strategy is in helping the overall effectiveness of your future open enrollment campaign.

28 ©2014 Epsilon Data Management, LLC. Private & Confidential 28 Evaluate your customer experience

29 ©2014 Epsilon Data Management, LLC. Private & Confidential 29 Health insurers are looking to understand a more complete picture of how they are interacting with their current and prospective members—all while being pressed for measurable ROI with continually constrained resources. This is compounded by the fact that most consumers today have a “you should know me by now” mentality. Where healthcare brands are just delving into the world of customer experience (CX), others have been focused on CX for years now. Consumers expect brands to know how they want to be communicated with, what is happening in their lives, the channels they prefer and how to build a relationship with them that will result in their loyalty.

30 ©2014 Epsilon Data Management, LLC. Private & Confidential 30 Begin with the most important consumer touch point: The call center o Your call center is critically important to overall enrollment performance—it’s often the lynch pin and primary call to action. o In fact, many health insurers marketing Medicare products see the majority of their direct marketing enrollments through this channel. Let’s face it—insurance can be complicated and people need one- on-one guidance when making enrollment choices. many health insurers marketing Medicare products see the majority of direct marketing enrollments through this channel

31 ©2014 Epsilon Data Management, LLC. Private & Confidential 31 Begin with a critical consumer touch point: The call center Actively testing and participating in the call center operations is vital for health insurance marketers. When it comes to your call center, you can’t make any assumptions that things are going as they should. You need to see for yourself so you can understand what is happening when people are calling in and how they are progressing.

32 ©2014 Epsilon Data Management, LLC. Private & Confidential 32 Begin with a critical consumer touch point: The call center Test your call center and pay close attention to the customer experience. During the enrollment period, we recommend having a member of the marketing team on site at the call center—not only to ensure that things are operating as expected, but also to listen to the voice of the customer and the questions that are being asked to see if script modifications are needed. Is your call center performing at the level you anticipated? Test your numbers. Are they all working? Do your CSRs have the right script? Is everything operating correctly? What are your customers asking about when they call in? Are the CSRs trained to field these questions?

33 ©2014 Epsilon Data Management, LLC. Private & Confidential 33 Understand your online enrollment process Scenario B Scenario A Scenario C For the same reasons you test your call center, you should also be testing your online enrollment process. Walk through each step as though you are your prospect. Are there any stumbling blocks? Test different scenarios (e.g., both under and over age 65).

34 ©2014 Epsilon Data Management, LLC. Private & Confidential 34 Understand your online enrollment process As with the call center, you should have a strong idea of what you want the customer experience to be from the beginning. How do you want the customer to be treated? How can you make their experience easier? When you are testing, always have the audience in mind. For example, if your site is targeted to Medicare enrollment, you may want to make the call to action graphics larger and be sure that the text is crystal clear.

35 ©2014 Epsilon Data Management, LLC. Private & Confidential 35 Understand your online enrollment process Keep in mind that your potential customers may visit your site and start the enrollment process, but are likely to initially abandon it because of the amount of information required to enroll in a plan. As you go through the process, think about how you can help to address such concerns as they may happen—or even how you could redirect the customer to the call center for more information if questions come up—to better improve the customer experience and reduce your site abandonment rate.

36 ©2014 Epsilon Data Management, LLC. Private & Confidential 36 Wrapping it up

37 ©2014 Epsilon Data Management, LLC. Private & Confidential 37 As an insurance marketer, you manage a lot to get everything prepped and ready for your next open enrollment campaign—and you only have one shot to get it right. There’s very little time to course correct, so you have to do your due diligence in the wrap up analysis of your open enrollment campaign. Remember, it’s not just understanding what worked and what didn’t— these are the conversations that will be the starting point for the coming open enrollment period.

38 ©2014 Epsilon Data Management, LLC. Private & Confidential 38 Learning from your past open enrollment period and planning for your next one is vital to your business. Let us help!Let us help! At Epsilon, we understand the complexities that healthcare marketers face—and we can help you not only overcome them, but evolve your marketing and grow lasting bonds with your current and prospective members.


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