Five Top Takeaways from the 4th Annual Medicare Marketing Summit 2011

I attended the 4th annual Medicare Marketing Summit in Orlando Florida recently. This event, hosted by Financial Associates, LLC, was very informative with speakers who provided valuable insights related to Medicare marketing.

I wanted to share some of the common themes I heard during the sessions. Here is a quick list of the ones I found most valuable.

Five Top Takeaways from the 4th Annual Medicare Marketing Summit 2011:

STAR Ratings Matter. They are no longer just a consumer rating. Educate everyone involved at each touch-point of service delivery about why Star ratings are important to your bottom line. Treat "user experience" as a core competency for your organization -- not just a function. If your plan carries a 4-STAR or better rating, give the consumer a frame of reference when you tout it. Tell them you received 4 out of 5 STARS. Otherwise, they may assume that it is 4 out of 10 Stars!

Focus on Retention. Marketers know that it costs far less to keep a member compared to getting a new one. Since member retention affects STAR ratings, you are hit with a "double-whammy" when you lose too many members. Rather than waste money on newsletters, focus member communication around each individual's preventive care and well-being. Create campaigns that improve screening compliance and the HEDIS, CAHPS and STAR Ratings.

Use Co-Marketing to Extend Your Marketing Dollars. We all know the importance of direct mail, TV and radio in acquisition programs. However, with all of the "noise" during AEP, these channels cannot do all the heavy lifting. Take a page from the great consumer marketers and partner with other respected services and brands that reach the same market.

Utility is the New Creativity. Provide tools that solve problems, answer questions and create a trusting dialogue that shows you deliver on your promises. UCare, a Medicare Advantage plan serving Minnesota, takes services on the road with a colorful branded van designed for health screenings.

Online is Under Utilized. Presentations focusing on the growing importance of the online channel were missing from this Summit. Yet, eMarketer predicts that by 2015, 56% of people in the U.S. age 65+ will use the internet. The Pew Internet Report states that 26% of seniors use social networks like Facebook and MySpace. Seniors and their caregivers often use this channel to compare before picking up the phone. They poll friends, relatives and peers to find out what plans to consider.

Is your online presence answering questions and getting you in to the consideration set of Medicare beneficiaries? At DMN3, we believe you must include online marketing as a weapon in your marketing arsenal. We continue to experience success using online to market other health related services to 65+ year olds. And we encourage Medicare Advantage plans to set aside a bigger budget for this channel.

If you have specific unmet marketing challenges, or you have a marketing related question, please give me a call. I look forward to getting to know you.