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3 minute read
In this series, e123 President Brendan McLoughlin will explain what Strategic Revenue Management (SRM) is with a detailed 6-step guide on how you can implement this framework within your organization.
Why Targeted Pull Marketing Drives Enrollment and Persistency
Many carriers take a scattershot approach to consumer marketing, forcing agents to work harder, not smarter. They end up wasting resources trying to sell products that are not the right fit for members’ needs. This leads to higher customer acquisition costs, , increased member churn, and underwhelming growth.
Carriers that understand the power of strategic, targeted consumer marketing do it differently. They invest in the right messaging in the right markets, making their agents’ jobs easier. Strategic Revenue Management (SRM) Step 4: Pull is about driving member demand for your hero products in priority geographies to increase persistency, lifetime value, and overall enrollment efficiency.
Focus Consumer Marketing on Hero Products in Specific Populations
The biggest mistake carriers make is diluting the consumer marketing budget across too many products in too many markets. You can’t be all things to all people!
Smart carriers identify their "hero products," which we discussed in Step 2: Plan of Strategic Revenue Management. These plans solve real needs for specific populations in select geographies. Then, as covered in Step 3: Push, they build distribution muscle by recruiting and supporting high-performing agents in those areas.
In Step 4: Pull, it's about concentrating your consumer marketing dollars behind those hero products in the regions where you already have a high Local Relative Market Share (LRMS). This focus allows you to craft tailored messaging, speak to community needs, and differentiate your offering from broad national competitors in areas where you’re most likely to succeed.
For example, if your data shows that veterans in a particular county are underserved and your plan offers better benefits for that audience, your marketing strategy should be to build a campaign around that value proposition. This geographic precision combined with a targeted marketing approach will deliver stronger product-market fit, qualified leads, and improved ROI.
High-ROI Tactics Generate Measurable Results
Effective pull marketing doesn’t require a massive budget, but it does require smart targeting and measurable outcomes. Two tactics that consistently perform:
- Direct Mail: Direct mail can deliver exceptional ROI when used with smaller, focused lists targeted by zip code and demographic. A couple tips to keep in mind 1.) hero product-focused messaging outperforms generic messaging to deliver better results, and 2.) local imagery and testimonials can have a big impact.
- Outdoor Advertising: Well-placed billboards, transit signage, and community sponsorships also build brand recognition in key markets, especially when promoting products designed for that community.
Whatever tactics you use, measurement is essential. Track cost per lead, conversion rates, and lifetime member value by campaign. Stick with what works and cut what doesn’t. Do more with less by focusing on data-backed performance.
Agent Success Comes Through Consumer Education
Pull marketing is about generating qualified, educated prospects who are already informed about their plan needs.
Invest in consumer-facing content that supports your agents. Create comparison tools that highlight what sets your products apart. Showcase member stories that demonstrate improved outcomes after switching plans.
This type of marketing accomplishes two things:
- Pre-qualified leads: These prospects already understand your product benefits and are more likely to enroll.
- Easier sales: Agents spend less time educating and more time building relationships and enrolling new members.
When consumers already believe in your product before speaking to an agent, conversion rates increase, and the process becomes consultative, not transactional.
Optimize Locally First, Then Use Your ROI to Scale
National carriers often fail to connect with local communities, so that becomes an opportunity for local carriers to stand out. Partner with local providers, show up at community events, and promote how your plans uniquely address regional health needs. This kind of local differentiation builds brand credibility that national messaging can’t match.
Members who feel that their health plan “gets them” are more likely to stay, refer others, and create lasting growth through increased persistency and customer lifetime value.
The increased revenue resulting from your targeted efforts can then be used to thoughtfully and systematically widen your reach with more products in more places.
Align Push and Pull for Maximum Impact
When your consumer marketing creates awareness in the right communities, your agents can stop cold-calling and start enrolling. That’s when push and pull strategies work together, creating a cycle of demand, trust, and performance.
Ensure your agents know which products you’re promoting and where, so they can align their outreach with your marketing momentum.
Ready to Drive More Effective Enrollments?
Targeted pull marketing, when layered on top of the right plan and a strong agent network, can dramatically accelerate growth. But it only works with access to the right data, insights, and technology. e123 equips carriers with the intelligence and tools they need to execute Step 4: Pull with precision.
ady to execute step 4: Pull? To learn more about our SRM 6-step plan, download our Strategic Revenue Management white paper, revisit our previous SRM blog posts, watch my presentation on SRM, and stay tuned for the next post in this SRM series.
Ready to get started? Schedule a consultation with e123 and discover how SRM can drive smarter, more effective enrollments.
