0 case study: golden rule health insurance. increasing sales conversion 88% by integrating media per...
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Case Study:
Golden Rule Health Insurance
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Increasing Sales Conversion 88% by Integrating Media Per
Customer’sOpt-In Preferences
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Golden Rule Insurance Background
Key Facts
Founded in 1940
A UnitedHealthcare Company
Emphasis – individual health insurance
Launched Direct Sales Unit in 1998
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Golden Rule Insurance Background
Distribution Channels
Brokerage
Sponsored
Web Sites
General Agents
Direct Sales
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Strategy
Per VOC research, began by building a top flight call center versus a website, as originally planned
Ultimate goal was to drive people to our call center
Viewed the internet as a way to attract potential customers
Focus on the customer, not the medium
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Per VOC, a live contact with each potential customer is a key sales leverage opportunity– Health insurance is complex– Health insurance plans vary greatly– Health insurance is expensive– Choosing the right company and plan is critical– Testing a “Self-serve” model
First priority is conversion then volume
Strategy
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Direct Sales – Customer Channels
Advertising
Referrals
PR Web Direct Mail
DirectE-mail
Associations
DirectSales
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QUALIFIED
LEADS
Lead Processing
100% Opt-in– Prospects contact us– Prospects request that
we contact them
GROSS
NAMES
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QUALIFIED
LEADS
Opt-in Options– Call us– E-mail us– Tour our website
GROSS
NAMES
Lead Processing
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All names are pre-filtered– Qualified names pass– Non-qualified names do not pass
QUALIFIED
LEADS
GROSS
NAMES
Lead Processing
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All leads are scored and sorted– Each lead receives a numeric score per
propensity to buy– “A” leads receive priority treatment
QUALIFIED
LEADS
GROSS
NAMES
Lead Processing
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Health Insurance Consultation
“Best in Class” agents– Fully licensed– Health Insurance experts
FULFILLMENT
QUALIFIED
LEADS
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Needs analysis– Truly understand the client’s
situation– Determine and clarify their goals
FULFILLMENT
QUALIFIED
LEADS
Health Insurance Consultation
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Product recommendation– Based upon what is best for the client– Integrity – we admit when our products are not a good
fit
FULFILLMENT
QUALIFIED
LEADS
Health Insurance Consultation
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Q & A– We encourage questions– All questions answered on the spot
FULFILLMENT
QUALIFIED
LEADS
Health Insurance Consultation
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Next steps– Establish specific action items– Set follow-up appointment with “A” leads– Send sales materials via client’s preference: mail, fax, or e-mail
FULFILLMENT
QUALIFIED
LEADS
Health Insurance Consultation
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Follow-Up
Proactive “value add” appointment– Health insurance comparison– Answer questions
Application walk through
SALES
FULFILLMENT
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Sales Conversion Increases
+ 35%
+ 49%
+ 57%
+ 88%
0
10
20
30
40
50
60
70
80
90
Qtr 4 Qtr 1 Qtr 2 Qtr 3 Year 3
% In
cre
as
e
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Biggest Contributors to Conversion
100% Opt-In Marketing
Prospects qualify by initiating contact
This drives higher quality leads
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Biggest Contributors to Conversion
Providing customers with options
Call us
E-mail us
Tour our website
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Biggest Contributors to Conversion
Filtering and scoring 100% of names / leads
Only high quality leads enter our sales process
Only high quality leads remain in our sales process
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The Power of Opt-in Marketing
Lead quality is substantially higher Prospects are very receptive Sales reps are highly motivated to make
contacts
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Integrated Direct Marketing Learnings
Internet – Great prospecting tool. 60% of customers report using the internet as part of their search. Testing the use of a self-serve website to convert leads into sales.
E-mail – Great for on-going communications. Cannot cost justify it for prospecting.
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Fax – Decreasing in relative importance but still an important part of the mix
Mail – Powerful fulfillment medium. Questionable as a viable prospecting tool
Inbound and Outbound Phone – Continue to be the cornerstones of our media mix
Integrated Direct Marketing Learnings