The Private Health Insurance (PHI) Industry is highly competitive and most insurers must make a significant investment in marketing effort to win new customers.Learn more
Defin’d was able to provide valuable insights (demographic and psychographic) about the insurers prospective customer base, competitive environment in different localities as well as demand, as well as media consumption behaviours.
The insurer was able to use these insights to develop targeted marketing strategies (channels and messaging) for customer microsegments that would deliver best value for money on their marketing spend.
Refining customer segments
We worked closely with the insurer with the objective of refining its marketing strategy and lift sales penetration in key customer segments. We firstly identified key catchment areas and target customer segments, and by using Defin’d, we could quickly articulate a purchasing profile of potential clients, as well as indicators of demand and competitive factors. Guided by their objectives, the insurer was also able to prioritise potential growth areas by using the online dashboard.
The Defin’d data also provided information on the media consumption habits and attitudinal mindsets of the target segments for each location. This information was then used by the client to identify the media channels that should be used to best reach their target audiences.
Improved marketing spend
Based on the customised outputs, the insurer:
- Can now target business locations by prioritising branch sites
- Has a clearer view of the competitive landscape and better inform their marketing plans, focusing their efforts on particular locations and messages on the benefits of switching providers.
- Clearly asses their market penetration
- Develop local area specific marketing channel strategy to improve ROI on marketing spend