For health plans today, it’s no secret that to lower costs, boost retention and acquisition, and improve health and quality scores—the member must play a role. And for Medicare plans, effective member engagement is especially essential to achieving an even more elusive goal—consumer loyalty in health care.
So how do engagement and loyalty connect? Engaged consumers are more likely to have a positive experience with their plan and renew their membership for following years, as well as spread the word to other health care consumers. At NovuHealth, we build engagement strategies and programs with a focus on boosting quality scores and managing risk, but the programs also have a halo effect; increasing customer loyalty in health care is one such effect. Loyalty to a brand is the result of a feeling of affinity with said brand—and engagement programs are an effective way to build a relationship with the consumer that develops into affinity, a feeling of partnership.
Why do some consumers only fly Delta or limit their coffee purchases to Starbucks, or are obsessed with Target? One very strong reason is brand affinity. This feeling of affinity, which results in loyalty (aka consumer retention), also produces brand advocacy among engaged consumers.
Brand advocacy, in turn, can transform the engaged member into a plan’s best recruiter. With the average cost to acquire a new customer ranging from $1600-$4000 and consistent growth a necessity for sustaining a plan’s economic growth, word-of-mouth recommendations can have a significant impact on bottom line. And the good news for plans investing in engagement efforts? Engagement programs increase a plan’s value proposition: Consumers are 84% more likely to join a plan offering a rewards and incentives program.
From this, our takeaway is simple: Engage your members, and they’ll help do the work for you to acquire and engage new customers.
Learn more about consumer loyalty in health care when you download the presentation from NovuHealth EVP of Marketing and Engagement Jordan Mauer: “How to Design an Intelligent Member Engagement Program that Delivers on Quality, Retention, Acquisition and Cost.” In it, plans will discover how to:
- Design an engagement program modeled on consumer loyalty programs
- Empower and engage members to deliver on business objectives
- Differentiate your brand and position it for long-term success
Want even more insights and best practices for building successful member engagement strategies? Contact us to keep the conversation going.
Jordan Mauer is EVP of Marketing & Engagement at NovuHealth. In this role, he develops and leads the company's corporate marketing and brand initiatives, as well as the end-to-end management of member-facing operations. With more than 15 years of senior marketing leadership experience, Jordan brings a passion for analytics, loyalty operations and engagement, as well as strategic energy to NovuHealth.
NovuHealth is the health care industry’s leading consumer engagement company. Combining performance analytics, behavior science and comprehensive technology solutions, we enable health plans to better understand, motivate and connect with members. Visit us at novu.com.