Lifecycle marketing strategies to increase health plan retention
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Challenge
The Customer Lifecyle Marketing team of a nationwide health insurer wanted actionable insights on where and how they might lean in differently with their members to increase health plan retention.
It was critical to identify levers to pull that went beyond the “obvious” reasons that members switch carriers – such as wanting a cheaper plan, better coverage, change in health status, or change in employment.
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Method
Paige used a 3-phased approach to lead all research, facilitation, and strategy efforts for this initiative:
Phase 1 — Stakeholder alignment workshop: It was vital to set the stage for success with the client’s many internal stakeholders prior to conducting research. Activities in this workshop included setting intentions, mapping ingoing assumptions, and plotting clear success criteria for the upcoming research and strategic plans.
Phase 2 — Qualitative customer research: 21 60-minute in-depth interviews with people who are currently customers, considering becoming customers, or ex-customers to understand their functional and emotional decision-making journey when deciding to enroll in or switch to a different health plan carrier.
Phase 3 — Stakeholder ideation workshop: Facilitated a full-day workshop with the customer lifecycle marketing team to ideate and develop retention strategies for all customer segments based on Phase 2 insights. These concepts were mapped on an effort vs. impact matrix, then top ideas were turned into SMART goals.
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Outcome
The client received:
1 in-depth "Qualitative Research Insights report and 2 Workshop Summary + Next Steps reports.
A highly visual and detailed customer journey map plotting the functional and emotional journey through key engagement stages.
3 unique customer persona profiles that emerged through Phase 2 research and are used regularly for tailored marketing campaigns with the client.
3 detailed strategies prioritized for development, with key actions taking place in each quarter of their upcoming fiscal year, along with assigned team members to execute these actions.