Successful marketing in the health insurance industry stands out among competitors, navigates HIPPA compliance, and generates sales in the tight open enrollment period. Pay-per-call can help health insurance businesses meet these marketing challenges and increase their ROI with high-intent leads.
Pay-per-call marketing allows businesses to purchase qualified inbound phone calls. Advertisers customize their campaign requirements, including call duration, category, and location, and then only pay for the inbound calls that meet their specifications.
Inbound phone calls are much more likely to convert than other inbound leads, and pay-per-call campaigns for health insurance typically see a 45-50% conversion rate.
How Pay-Per-Call Solves Marketing Challenges in the Health Insurance Industry
Challenge #1 – Capitalizing on Open Enrollment
Open enrollment typically occurs once a year for a few months, and when that time comes, you need an advertising strategy that delivers consistent, high-value leads.
Your pay-per-call partner can help you define and target your ideal consumer profiles – such as those with spouses or families – and help you determine a competitive price per call for your campaign requirements.
The right pay-per-call partner will also deliver predictable call volume based on your call center needs to keep your agents busy and maximize their time.
Challenge #2 – Competitive and Expensive Advertising During Open Enrollment
With numerous health insurance brands competing for similar customers in a short period of time, reaching a broad national audience is challenging, and the cost of paid search, social media promotion, and traditional advertising reflects this competition.
With a pay-per-call campaign, you only pay for the high-intent calls that meet your campaign requirements, and calls in this industry typically see a 45-50% conversion rate.
Additionally, if you partner with a pay-per-call network, you’ll have access to their vetted publishers who will generate calls through a variety of online, offline, and carrier sources. This gives your campaign the reach of multiple publishers without the responsibility of managing multiple contracts.
Using qualifying methods such as Interactive Voice Recordings and quality assurance techniques, your pay-per-call network can filter out unwanted calls, such as customer service calls, and ensure their publishers are delivering high-value leads.
Challenge #3 – Bringing in High-Intent Leads Year-Round
Open enrollment is not the only time you want leads; when someone qualifies for a special enrollment period, you want to be there.
With the same broad reach of multiple high-quality publishers, pay-per-call gives you the flexibility to manage your budget and set your key geographies, business hours, and daily or hourly caps on total spend depending on the time of year and your availability.
Challenge #4 – HIPPA Compliance
Due to HIPPA compliance requirements, advertising health insurance is unlike advertising for other industries.
The right pay-per-call partner will make sure their publishers only generate calls using approved advertising channels and methods. Publishers should be monitored to ensure they comply with not only HIPPA but also numerous other consumer protection laws and regulations.
Challenge #5 – Evaluating Health Insurance Marketing Efforts in 2020
It is nearly impossible to accurately track lead sources and correctly optimize your budget with traditional advertising. With tight budgets and less traditional advertising space available in 2020, businesses need to allocate their marketing budget to channels that will deliver a high ROI.
Call partners should remove call recording and call transcription on calls where the consumer could disclose personal information.
With the right pay-per-call partner, you can easily track your campaign’s success with methods such as call tracking, call recording, call transcription, and call scoring. These techniques help you identify the sources and geographies that generate the most qualified calls, so you can optimize your budget accordingly.
The return on investment (ROI) for pay-per-call in the health insurance industry is high, even though the initial cost per lead may seem expensive. A competitive bid in this industry is about $65 for a call that lasts at least 120 seconds. The average call lasts about 12 minutes, and calls typically have a 45-50% conversion rate.
Get Started with Pay-Per-Call
Pay-per-call is a high-converting source of qualified leads for health insurance businesses. When looking for the right pay-per-call network, look for a trusted network that is committed to performance and superior service and delivers compliant, high-intent calls from unique traffic sources.
Soleo’s pay-per-call network generates thousands of qualified insurance calls each month and can easily scale to fit the needs of our advertisers. Our call traffic is generated in a way that complements your internal lead-gen activities, leveraging both our in-house lead generation team and our network of qualified, vetted publishers who adhere to strict network compliance regulations.
We are dedicated to meeting our partners’ CPA requirements, and we offer call tracking, Interactive Voice Recordings, quality assurance, and dedicated support from our experienced customer success team.