Predicting Medicare Consumer Product Preferences
Posted December 5, 2017, Deft ResearchCase study
One of the nation’s leading healthcare-focused direct marketing agencies applied our product propensity models against Medicare marketing results from the previous year’s AEP. They used lift charts and decile tables to measure the performance of the models against what the results were when they did not use the models.
The models can help marketers to:
- Develop very precise, targeted campaigns.
- Align the right product offers to the right consumers.
- Convert prospects into customers.
- Reduce marketing expenses.
- Increase campaign profitability.
The results showed the response rates of individuals who are currently enrolled in a MedSupp plan broken out by “In MA Plan” and “In MedSupp Plan”. There was a clear negative correlation between the “in MA plan” and the “in MedSupp plan” scores. What this tells you is that Deft Research’s propensity models successfully identified which product consumers were likely to be enrolled in.
The agency indicated that the other Medicare Advantage and MedSupp propensity models available to them tended to be direct response models first, with a slight alteration for product. Deft Research’s acquisition models are based on actual insurance type membership – making them true product propensity models.