Home Health Insurance Measure and Manage for Competitive Advantage

Two years ago, we shared a video on the importance of measuring and managing your consumer-facing digital assets to enhance the customer experience. This was during the first ACA Open Enrollment, and there were many unknowns and a whole new set of consumers ready to enter the insurance marketplace. Since then, we’ve learned a lot – but measuring consumer behavior and adjusting accordingly has become even more crucial in an increasingly competitive healthcare industry. As insurers have begun to understand the nuances of consumer behavior, users themselves have become more sophisticated. They demand a certain level of experience, and expect it to be consistent across devices and channels. Those companies that can keep their finger on the consumer pulse and adapt quickly to meet expectations will see more success as the healthcare landscape continues to evolve.

To understand the consumer, it is important to have a 360 degree view of their behavior and motivators. This means that it is important to measure and monitor all your interactions and not just website usage patterns. At a minimum, you should be measuring:

  • Shopping Behavior: Why are consumers coming to your site? Is it brand loyalty, search engine results, or another reason? Once there, what are they doing… looking up information, shopping, purchasing?
  • Customer Satisfaction: How does the consumer feel about their experience with your brand? Would they recommend you to a friend or to family? Are they a purchaser or a loyalist?
  • Channel Usage: What channels are being utilized, and how? Are consumers using mobile, and are they using it for research or to make a purchase? Do consumers start on one channel (like the web) and then resort to another channel such as the call center?
  • Marketing Activities: How well are your marketing efforts reaching the consumer? What activities are generating the most value?
  • Competitive Landscape: What are your competitors doing? What’s ahead on the horizon? Are you able to adapt and meet competitive threats quickly?

Further, you should not rely on a single method to measure these items, but take both a quantitative and qualitative approach. Quantitative measurements can be done on digital assets though real-time monitoring of activities on your online applications, email campaigns, and social media. Qualitative measure can be gathered through one on one interviews, focus groups, as well as online pre-post surveys.

That said, it is not enough just to monitor and measure your assets. The end goal of this is to be able to rapidly adjust your strategy to meet changing expectations. You should have recurring checkpoints (at least monthly) to review data, and develop key strategies based on organizational goals and data gathered. It’s better to fail fast, and when the data suggests that initiatives are not performing as expected, make educated tweaks to your digital strategy.

By continually measuring and monitoring your digital assets, you can ensure that you are able to quickly adapt to the changing needs of your consumers. If you’d like to learn more, I suggest checking out our video “Measure and Manage: Open Enrollment in the Age of Reform” – while we certainly know more today than we did back then, fine tuning your digital strategy remains as important as ever.

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