BenefitPersonas - 3x3x3 Challenge with Mark Head
BenefitPersonas is a psychographic profiling model for employee benefits, improving engagement and enrollment by personalizing communication based on employees' values and motivations.
Transcript:
What is BenefitPersonas?
BenefitPersonas is a psychographic profiling model, and it's been designed specifically for benefits in healthcare. Psychographics goes beyond demographics, and it increases the want-to factor in employees because it speaks to their values and motivations. That improves enrollment rates, conversion rates, response rates, ongoing engagement rates, kind of however you want to characterize that. What we do is we break employees into one of five distinct categories, and we can do that just using an eligibility file with name and address. The cool thing is that pretty much every adult in America already has a BenefitPersona, kind of like how every borrower has a credit score. Then, we create five personalized versions of the emails, the text messages, even counselor or advocate scripts based on the way each of those types already believes the world works for them. And this approach gets up to 25% more employees to respond to whatever the call to action may be.
How is BenefitPersonas different?
Well, this is the only psychographic profiling model that we're aware of that's being used in the benefits world, even though it's been around for 13 years now. We've run close to a million employees through this process, and the key idea here is to transmit on the frequency that people are already listening for. There is an old adage many of us grew up with. "It's not what you say, it's how you say it." And the key thing here is that we're not just explaining how something works. We're connecting with people at the deeper values level where the messages not only make sense, but they also feel right. And this is really important because when someone enrolls in a program, they're buying it, it's a sale, but we're no longer stuck with our old one size fits all pitch.
Who is a good fit for BenefitPersonas?
Well, just about anybody who is in the benefits ecosystem, who is struggling with underperforming plans due to low enrollment can be a fit for us. The employer is, of course, at the center, and then the consultant helps find the right vendors. But it's the vendors who typically are doing the majority of the outreach for each of their programs. So, whatever is the weak link or the weak program in that benefits ecosystem, this process will reduce that friction because for those vendors and employers and consultants, we're going to work with the vendor so that they are able to answer those questions that every employee has. What's in it for me and why should I care? And when you can do that, you get more registrations, you get more enrollment, and you get more ongoing engagement throughout the year.
Transcript:
What is BenefitPersonas?
BenefitPersonas is a psychographic profiling model, and it's been designed specifically for benefits in healthcare. Psychographics goes beyond demographics, and it increases the want-to factor in employees because it speaks to their values and motivations. That improves enrollment rates, conversion rates, response rates, ongoing engagement rates, kind of however you want to characterize that. What we do is we break employees into one of five distinct categories, and we can do that just using an eligibility file with name and address. The cool thing is that pretty much every adult in America already has a BenefitPersona, kind of like how every borrower has a credit score. Then, we create five personalized versions of the emails, the text messages, even counselor or advocate scripts based on the way each of those types already believes the world works for them. And this approach gets up to 25% more employees to respond to whatever the call to action may be.
How is BenefitPersonas different?
Well, this is the only psychographic profiling model that we're aware of that's being used in the benefits world, even though it's been around for 13 years now. We've run close to a million employees through this process, and the key idea here is to transmit on the frequency that people are already listening for. There is an old adage many of us grew up with. "It's not what you say, it's how you say it." And the key thing here is that we're not just explaining how something works. We're connecting with people at the deeper values level where the messages not only make sense, but they also feel right. And this is really important because when someone enrolls in a program, they're buying it, it's a sale, but we're no longer stuck with our old one size fits all pitch.
Who is a good fit for BenefitPersonas?
Well, just about anybody who is in the benefits ecosystem, who is struggling with underperforming plans due to low enrollment can be a fit for us. The employer is, of course, at the center, and then the consultant helps find the right vendors. But it's the vendors who typically are doing the majority of the outreach for each of their programs. So, whatever is the weak link or the weak program in that benefits ecosystem, this process will reduce that friction because for those vendors and employers and consultants, we're going to work with the vendor so that they are able to answer those questions that every employee has. What's in it for me and why should I care? And when you can do that, you get more registrations, you get more enrollment, and you get more ongoing engagement throughout the year.