In this tech-savvy digital era, each company looks for the best way of selling their products in the best possible way. Adapting to the evolving marketing strategies may be a routine for well-established enterprises considering the resources they have. But, for the new businesses that compete with these conglomerates, it is an essential part of their survival. They need compelling customer service and a strong online presence to maximize their sales. With conventional marketing and selling techniques not being of much help today, digital marketing can serve as a great equalizer to compete against a powerful competitor.
A US-based private health insurance marketplace that was facing difficulties in competing against their tech-driven competitors came to us with a challenging mission. They wanted us to help develop a new website for their insurance marketplace which was primarily focusing on the Affordable Care Act (ACA), commonly called Obama Care and to set up digital marketing campaigns to improve their customer outreach through digital channels.
We took up the task in March 2019 to design and build a website for their insurance marketplace and rebrand their online presence. The following insights indicate how we made it possible
Identifying the Difficulty in marketing:
Our first step was to analyze the difficulties, the company had, in the marketing perspective. They were lacking a compelling customer experience due to the following factors.
- Their traditional sales approach and offline marketing techniques consumed more resources but, delivered a low conversion rate.
- They invested most of their effort on outbound marketing and generating leads through cold calls.
- But, even with all these efforts, they were not able to convert the leads to business deals.
- They also lacked digital marketing initiatives and their competitors were well-ahead them in terms of an online presence.
In addition to this, the performance of their old website was not convincing enough to engage the end users.
- The website design was out-dated and it needed a better User interface.
- It had high load time which led to high bounce rates (Most users navigated away from the website after viewing only one page).
- The website’s low organic search volume made it difficult to rank up the website in online search results.
- In short, their website was struggling to do business.
A thorough research:
Our next step was to conduct a thorough research and make decisions based on hard-edged analysis rather than intuition. Our research included,
- Interview with the client and their sales team to gather useful insights.
- A survey on people to know what they were expecting from the modern day health insurance marketplace and also to know what people think that the insurance marketplace companies can improve for better customer satisfaction.
- A thorough competitor research where we analyzed their website and their marketing strategies to find the key selling points that our client was missing.
- A survey on end-users to find the perfect user interface design that satisfies their experience on the website.
Our research concluded that customers expected a hassle-free insurance shopping experience, where self-service is possible. Also, the traditional sales-driven, out-bound marketing approach was consuming more resources and delivered very low conversion rates. This was not proving to be beneficial in doing business.