How to Develop a Strategic Consumer Marketing Plan for Health Insurance Companies

For many health insurance companies, marketing means ads in newspapers, direct mailing, commercials and on the Internet. In today’s competitive and high tech world, these methods are simply not enough for any business. Developing a strategic consumer marketing plan for health insurance companies is essential to the survival of the business. Research and goal setting are all part of the process and will serve as a guide to reaching the desired goals.

Instructions

• 1

  Set goals that are attainable and can be measured for a period of two years. Allowing this amount of time will permit the company to plan events that relate to the goals. For example, sponsoring events within communities to bring awareness to certain ailments or attending health fairs are two strategies. Break the goals up into categories for short and long term. Some examples of goals that can be measured are: an increase in the number of clients by a certain percentage within a given amount of time, increase in revenue and surveys for customers to determine the company’s improvement in image.

• 2

  Review prior and current marketing methods. A review of the marketing methods used within the last two to three years is necessary. Look at every announcement and advertisement to decide which had the best results.

• 3

  Perform market research to provide an accurate picture of the industry and the company’s current position. Market research is a lengthy process, but it is vital to remaining competitive in today’s market. Areas that need to be included in the research are: customer satisfaction, health assessments of communities, the impact of health care on the economy, factors that determine provider and service selection and the overall perception of healthcare.

• 4

  Analyze your research in summary form to determine the marketing methods to use for the desired results. Discovering the needs and wants of the target audience can be done with this information.

• 5

  Identify the target audience. Determine what group of people are the marketing methods going to be aimed at? Will this audience include people of a certain age, with or without specific medical conditions, etc. Determine that audience that the company will target to improve its perception against the competition.

• 6

  Create a budget before implementing marketing methods. Health insurance companies are in a competitive market so at least 10 percent of all revenue should be spent on advertising.

• 7

  Create marketing strategies by addressing targeted marketing methods that relate to the set goals and selected target audience. Look at what makes the company different from competitors and turn that into an advantage. Creating a presence on social media networks can be highly beneficial for many companies when advertising and obtaining new customers are involved.

• 8

  Develop a schedule for implementing the methods that will show when each action will be done and who will do it. Be sure to include marketing costs and how they affect the budget.

• 9

  Develop a process for monitoring and evaluating the effectiveness of the marketing efforts. Being able to measure the results against the goals is important. Frequently review the plan to make sure the company is still on track with achieving the desired results.