7 Medicare Advantage Marketing Techniques That Work
Medicare marketing is in the midst of change. The DMN3 Medicare Advantage Marketing Benchmark Study highlights the changes in marketing trends taking place. The study found that online marketing is playing a bigger role in Medicare marketing. By integrating new digital marketing techniques with traditional marketing methods, Medicare marketers can improve their ROI.
Medicare marketers report:
- 62% expect their digital marketing budgets to increase.
- 93% plan to use a digital tactic beyond having a website.
- 50% report direct mail had the best ROI for both cost-per-lead and cost-per-enrollment in recent AEPs.
- 72% report their top digital marketing priority is generating more leads.
So what marketing techniques actually work based on consumer surveys and marketing case studies? Here are seven to include in your marketing arsenal:
- Online Data Insights: Begin with a good understanding of your prospects’ shopping behavior via your website. Google Analytics is a great place to start. Look for pages with high traffic. See how you can improve time spent-on-page by adding more call-to-action buttons and content rich with keywords. Add more tracking codes to “actions” on these higher performing web pages. This will give you more insights on how to improve engagement on your website and landing pages. Also look at using heat maps on critical pages. They will give you a better idea of how to improve on-page design for higher conversion.
- Branded Search Terms: If you used paid search over the last few years, you probably experienced much higher competition for Medicare terms — especially towards the last half of AEP. We’ve found that weighting your online spend to branded terms delivers a much lower cost-per-lead than the popular Medicare terms. In the last AEP, we saw this online buying strategy reduce the cost-per-lead by more than 50%.
- Offers: Educational offers are very important. Good offers in multiple media formats help generate responses from online media you may not have used in the past. Video content offers can differentiate a provider from its competitors. In online research DMN3 did with 1,000 Boomers, we asked them how they use online media. We found that consumers ages 64 – 69 love Youtube! This finding presents new opportunities to educate prospects via online video who might never attend an educational seminar at a physical location.
- Integrate online and offline campaigns: Today’s Boomers, eligible for Medicare, are tech savvy. They go online to learn about topics of interest to them. That’s particularly true for health information and Medicare options. Television and direct mail are still the best offline channels to get people interested in offers or to search online for more information. Search marketing techniques such as content marketing and SEO along and PPC will continue to play a bigger and bigger role in lead generation and acquisition of new members.
- Live Encounters: The Kaiser Family Foundation Study also found that seniors are frustrated by the volume of information they are exposed to during the enrollment period. In spite of information overload, they’re still confused about what plan is best for them. They feel unqualified to compare things like costs, coverage, provider networks and other benefits. They often turn to insurance agents, seminars speakers, plan reps and other trusted sources to help them sort it all out. Qualified Medicare Advantage representatives should deliver clear and concise information that is easy to understand. Communication should be focused on what’s important in choosing a plan. Whether it’s over the phone or at an event, great customer service can mean the difference in getting a senior to enroll.
- Lead Generation and Nurturing: Based on how early potential Medicare Advantage beneficiaries now begin online Medicare research, marketers should start targeting 63 and 64 year olds online sooner than later. The goal is to engage them before competition reaches them. Once prospects opt-in to receive educational emails, marketers can employ marketing automation. This the best way to provide timed email campaigns that nurture Age-In propsects through the decision process.
No matter if you use some or all seven of the Medicare marketing methods discussed here, make sure you include analytics to track which tactics are driving leads and enrollments. Use your online campaign data to improve the overall experience for potential new members.
There are other Medicare Advantage marketing techniques that could be added to this list.
Which ones would you add that actually work?