21
Feb
2018
SHARE
5 Tips For Revving Up Your Medicare Enrollments

Tip 2–Put Your Money Where Your Audience Is


In Tip 2 of our 5-part series for improving your Medicare ROI, KERN Health will provide insights into how to get a bigger return on your marketing dollars. When money is allocated correctly, you’ll have a much better chance of meeting or exceeding your goals for new members. There’s no one strict formula because there are variables at play. But this you can count on: The more you understand your audience, the more successful you’ll be.

Medicare marketers have long debated where’s the best opportunity to get more bang for their bucks—during AEP or Age-In? With 10,000 Baby Boomers aging into Medicare eligibility every day, it makes sense to allocate more money there, right? Yet, 65% of a marketing budget is typically targeted during AEP and here’s why: Prospects only age into Medicare one time. After they make their initial Medicare health plan selection, the best chance to get them to reconsider and switch to your plan is during AEP.

CUSTOMER JOURNEY


Prospects have the potential to be exposed to your plan throughout the customer journey and through all available media, including:
  • Broadcast (TV & Radio)
  • OOH (out-of-home)
  • Direct Mail
  • Shared Mail
  • Newspaper Ads
  • Digital Display Ads
  • Search Engine Results
  • Physician Referral Letter (a high-performing tactic)
When thinking about your marketing mix, keep in mind that the Medicare Shopping Journey is not linear. Your target might first see your TV spot and then go online to research or vice versa. Because of this, it can be difficult to pinpoint lead attribution. Successful marketers understand this and account for this fact when evaluating campaign performance. And typically, there’s an accumulative effect. It can take 5–6 interactions with your communications before they take action.

DIGITAL MARKETING


The idea that Medicarians aren’t surfing the Internet or interacting on social media is pure mythology. Every year, Baby Boomers get more mobile and digitally savvy. In fact, more prospects are using mobile to do Medicare research than ever before. And as younger prospects who are fully functional with social media and mobile become Medicare eligible, the more they will gravitate toward familiar digital marketing like Facebook ads, SEM and display ads. If digital media is not yet part of your marketing arsenal, then you are missing an important tactic to reach your audience.

NO COOKIE-CUTTER STRATEGIES


What’s successful in one region of the country may not replicate somewhere else. A rural audience can react very differently from an urban audience. And Medicarians are as diverse as any other target. As you test and learn, keep an open mind to opportunities and, although there are some benchmarks to follow, consider these questions when developing your plan:
  • Are you new to the market—is your brand an “unknown”?
  • Are you entering into a mature marketplace with heavy competition, or are you the only game in town?
  • What are the geography considerations? A California plan will not perform the same as a New York plan.
  • Is it an election year? Elections consume available media, so there is a lot of “noise” in the marketplace.
  • How do your benefits stack up against the competition? Do you have $0 premiums, etc.? Do you offer dental, vision and Rx coverage? Health club memberships, chiropractic, etc.?
  • Are you a 4- or 5-Star plan?
  • Do you have a strong physician network?

PREFERRED PHYSICIANS & EXTRA BENEFITS


How do your benefits stack up against your competition? Does your physician network include preferred physicians? These are important considerations in the Medicarian decision-making process. Because they are high utilizers, Medicarians look for specific benefits and doctors and compare them across plans. They are willing to make trade-offs, however, so it’s important to highlight extra benefits like Rx, vision, dental, hearing and fitness. The hierarchy of how you structure your content relative to these benefits will depend on how rich each is, so keep that in mind as you begin your development process.

TEST & LEARN


With all the variables that you have to consider, it’s important to test and learn and establish your own baseline metrics to measure against. Then and only then will you have a strong handle on what kind of ROI you can expect. Tracking and monitoring results, setting baseline metrics and modifying strategies as you advance your learning agenda will allow you to improve your ROI year over year.

Want to meet or exceed your Medicare enrollment goals for 2019? Email Denise Graham at dgraham@kernagency.com. Or call her direct line at 818-449-4468. She’ll be happy to arrange a meeting to answer any questions you may have.

About Denise Graham
In addition to her agency Account Management background, Denise has worked for multiple health plans, including Kaiser Permanente and PacifiCare. She has spent much of her career promoting Individual and Families and Medicare healthcare products. She was a key player in the development of Kaiser’s “Total Health” brand strategy and implementation in addition to the acclaimed “Thrive” marketing and ad campaign.

About Boni Peluso
Boni is a Medicare specialist with over 9 years of experience marketing to Medicarians. As an Associate Creative Director, she leads the Medicare creative development team at KERN Health.

21
Feb
2018
5 Tips For Revving Up Your Medicare Enrollments
SHARE

Tip 2–Put Your Money Where Your Audience Is


In Tip 2 of our 5-part series for improving your Medicare ROI, KERN Health will provide insights into how to get a bigger return on your marketing dollars. When money is allocated correctly, you’ll have a much better chance of meeting or exceeding your goals for new members. There’s no one strict formula because there are variables at play. But this you can count on: The more you understand your audience, the more successful you’ll be.

Medicare marketers have long debated where’s the best opportunity to get more bang for their bucks—during AEP or Age-In? With 10,000 Baby Boomers aging into Medicare eligibility every day, it makes sense to allocate more money there, right? Yet, 65% of a marketing budget is typically targeted during AEP and here’s why: Prospects only age into Medicare one time. After they make their initial Medicare health plan selection, the best chance to get them to reconsider and switch to your plan is during AEP.

CUSTOMER JOURNEY


Prospects have the potential to be exposed to your plan throughout the customer journey and through all available media, including:
  • Broadcast (TV & Radio)
  • OOH (out-of-home)
  • Direct Mail
  • Shared Mail
  • Newspaper Ads
  • Digital Display Ads
  • Search Engine Results
  • Physician Referral Letter (a high-performing tactic)
When thinking about your marketing mix, keep in mind that the Medicare Shopping Journey is not linear. Your target might first see your TV spot and then go online to research or vice versa. Because of this, it can be difficult to pinpoint lead attribution. Successful marketers understand this and account for this fact when evaluating campaign performance. And typically, there’s an accumulative effect. It can take 5–6 interactions with your communications before they take action.

DIGITAL MARKETING


The idea that Medicarians aren’t surfing the Internet or interacting on social media is pure mythology. Every year, Baby Boomers get more mobile and digitally savvy. In fact, more prospects are using mobile to do Medicare research than ever before. And as younger prospects who are fully functional with social media and mobile become Medicare eligible, the more they will gravitate toward familiar digital marketing like Facebook ads, SEM and display ads. If digital media is not yet part of your marketing arsenal, then you are missing an important tactic to reach your audience.

NO COOKIE-CUTTER STRATEGIES


What’s successful in one region of the country may not replicate somewhere else. A rural audience can react very differently from an urban audience. And Medicarians are as diverse as any other target. As you test and learn, keep an open mind to opportunities and, although there are some benchmarks to follow, consider these questions when developing your plan:
  • Are you new to the market—is your brand an “unknown”?
  • Are you entering into a mature marketplace with heavy competition, or are you the only game in town?
  • What are the geography considerations? A California plan will not perform the same as a New York plan.
  • Is it an election year? Elections consume available media, so there is a lot of “noise” in the marketplace.
  • How do your benefits stack up against the competition? Do you have $0 premiums, etc.? Do you offer dental, vision and Rx coverage? Health club memberships, chiropractic, etc.?
  • Are you a 4- or 5-Star plan?
  • Do you have a strong physician network?

PREFERRED PHYSICIANS & EXTRA BENEFITS


How do your benefits stack up against your competition? Does your physician network include preferred physicians? These are important considerations in the Medicarian decision-making process. Because they are high utilizers, Medicarians look for specific benefits and doctors and compare them across plans. They are willing to make trade-offs, however, so it’s important to highlight extra benefits like Rx, vision, dental, hearing and fitness. The hierarchy of how you structure your content relative to these benefits will depend on how rich each is, so keep that in mind as you begin your development process.

TEST & LEARN


With all the variables that you have to consider, it’s important to test and learn and establish your own baseline metrics to measure against. Then and only then will you have a strong handle on what kind of ROI you can expect. Tracking and monitoring results, setting baseline metrics and modifying strategies as you advance your learning agenda will allow you to improve your ROI year over year.

Want to meet or exceed your Medicare enrollment goals for 2019? Email Denise Graham at dgraham@kernagency.com. Or call her direct line at 818-449-4468. She’ll be happy to arrange a meeting to answer any questions you may have.

About Denise Graham
In addition to her agency Account Management background, Denise has worked for multiple health plans, including Kaiser Permanente and PacifiCare. She has spent much of her career promoting Individual and Families and Medicare healthcare products. She was a key player in the development of Kaiser’s “Total Health” brand strategy and implementation in addition to the acclaimed “Thrive” marketing and ad campaign.

About Boni Peluso
Boni is a Medicare specialist with over 9 years of experience marketing to Medicarians. As an Associate Creative Director, she leads the Medicare creative development team at KERN Health.