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3 Marketing Strategies that Health Insurance Companies Need to Execute Well

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Health insurance is arguably one of the most important investments for a healthcare consumer. Without it, patients have a hard time navigating and pursuing their healthcare in every capacity. This is why it’s so important for health insurance companies to stand out and market themselves effectively.

To build market share and increase member engagement, the following are three marketing strategies for health insurance companies.

Psychographic Segmentation

People are more than just their demographics and no healthcare consumer is the same. For this reason, PatientBond focuses on psychographic segmentation to motivate members to take action on their health.

Psychographics focus on the values, attitudes and lifestyles that patients have based on what matters to them most. It’s those beliefs that motivate patients to pursue healthy endeavors like scheduling a doctor appointment, getting a vaccine or following a healthy diet. PatientBond divides healthcare consumers into five segments to determine how to engage with them and market to them. Each psychographic segment has an optimal messaging approach and preferred channel mix to maximize results. Health insurers can utilize PatientBond’s data to craft this messaging for current and potential members to build market share and reduce voluntary turnover.

Great Content

Consumers are hit with thousands of marketing messages each day. To get healthcare consumers’ attention, focus on topics that catch their eye and resonate. Current events, as they relate to health insurance, is a good start. For example, how your organization is supporting COVID-19 prevention and treatment, or a strategic partnership between the health plan and a major retailer. Topics can also dive into recent healthcare data, health conditions or members’ stage of life and how health insurance plays into it. This content can be made into blogs, social posts, videos, email newsletters and more so that it can be viewed by current and potential customers and last for years to come.

Robust Digital Advertising

Print advertising isn’t entirely gone, but nowadays, digital advertising should be the top priority in marketing efforts. A strong social media presence is priceless to build market share, especially if it goes alongside ads on their respective networks like Facebook, Instagram, LinkedIn and Twitter. Even better, invest in Google ads and other search engine ads so that they can be seen by the right audiences on a multitude of sites that are frequented by your target audience. These efforts should also coincide with search engine optimization (SEO) efforts to maximize website traffic.

To accelerate digital marketing efforts, integrate psychographics into your ad copy and media that reflect the targeted segments.

Looking for marketing insights to target healthcare consumers? Contact us at PatientBond today to see how you can take advantage of the PatientBond Insights Accelerator™.

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