Study Shows Growth in Digital Marketing for Medicare Marketers
Preliminary results from the DMN3 Institute's Medicare Advantage Marketing Benchmark Study show that marketers are quickly embracing digital marketing for boomers and seniors. The Institute surveyed Advantage plan marketers on a number of marketing topics.
Online Marketing Becoming More Important:
Based on the results so far, digital is at the forefront of changes for Medicare Advantage marketing. Respondents indicated that digital channels will become more important in Medicare insurance enrollment over the next two years.
- About 90 % of marketers expect online advertising, i.e., display, PPC, social media advertising, etc., will be more important.
- About 80% expect responsive design for mobile, social media marketing and marketing automation will be more important.
- About 70% expect customer segmentation and lead scoring/nurturing will be more important.
- More than half of respondents list email marketing; channel expansion & integration; and content/inbound marketing will be more important as well.
Most offline marketing channels will stay about the same in importance over the next two years.
- Print advertising is expected to be less important according to more than 40 percent of respondents.
- About a third of respondents think direct mail will also be less important over the next two years.
- The expected decline in importance of print and direct mail reflects broader marketing trends.
Survey participants indicate that targeting 63 and 64 year olds will remain the most important focus of Medicare insurance marketing. The three most important trends include the use of more social media, customer segmentation, and online advertising.
Digital Marketing Priorities:
It’s not surprising that generating more leads is the top digital marketing priority for 70% of respondents. Other priorities include driving increased engagement and conversion rates; and lead scoring/nurturing.
Budgets Reflect the Importance of Digital for the Future
Today, digital marketing budgets account for less than 20% of the overall marketing budget for Medicare insurance marketing. Contrast that with the fact that over 60% of responders expect their digital marketing budgets to increase over the next two years.
The marketing channels that will see an increase in spending include:
- Website redesigns/enhancements (about 55% of respondents).
- Social media marketing and online advertising (about 50% of respondents).
- Search (SEO/PPC) and email marketing (more than 40% of respondents).
The full results are displayed below:
The shift in importance to digital media by Medicare marketers reflects the reality that boomers turning 65 (“age-in” Medicare beneficiaries) are more educated and tech savvy than previous generations. Boomers and seniors are using the Internet to communicate, find information and keep up with friends and family. The full results of the survey and insights will be reported by the DMN3 Institute in the coming weeks.
How does your Medicare Advantage plan marketing compare with these results? Share with us so we can all learn.