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NEW COMPETITIVE INTELLIGENCE CAPTURES SENIOR CONSUMER LOYALTY
The National Senior Loyalty Study offer:
- only $3,000;
- We guarantee your satisfaction. If you can’t use the study, you can have your money back if you ask for it within one month of purchase.
- We will deliver a data and graphic rich set of analytical slides and profiles of the top companies. All deliverables will be electronic for your convenience and re-use. The raw data will also be available to clients upon request.
Deft Research's National Senior Loyalty Study was fielded on line between 9/29 and 10/8/06. It captured responses from 1,357 seniors. Our research design yielded meaningful data on the customers of Humana, Kaiser, Anthem BCBS, AARP, Pacificare/Secure Horizons, Wellcare, Coventry/AdvantraRx, Aetna, Health Net, United Healthcare, CIGNA, Highmark BCBS, the independent Blues plans of Texas, Illinois, Michigan, and Florida.
Valuable market intelligence positively influences the decisions you and your team have to make.
The decision needs the study addresses are:
- “What should we do to position our company to reach its growth targets?”
- “On what products should we focus our design and develop resources?”
- “What should we emphasize about our company to differentiate it from the competition?”
With this study we can tell you what makes people most displeased with health and drug plans, what product attributes they most often percieve to be market differentiators, and what makes them loyal promoters of your plan or negative detractors of it. We can break the data down by insurer to give you a competitive analysis for decision making.
Why is this important? Deft Research's clients know that in the current market senior consumers show inertia and little attention to health organization promotion. Health plans often say to us that they are challenged in their ability to attract new customers with a differentiable message. This study will let you compare the market leaders in loyalty, differentiation, and switch intention. The study will help you make decisions about customer service, benefit design, brand building, and marketing messages.
The Way to Ask About Loyalty
"On a scale from 0 to 10, with 0 being very unlikely and 10 being very likely, how likely is it that you would recommend [your health or drug insurer] to your friends or colleagues?" Loyalty was measured this way twice - once for medical insurance and once for drug coverage.
- by the question above you can see we define loyalty as being willing to risk one's personal reputation by making a recommendation, and so by measuring it this way, we measure the proportion of customers who boost a company by promoting it to other prospective customers.
The responses to this question can be divided into three groups: those responding with 0 through 6 are called DETRACTORS; those responding 7 and 8 are PASSIVELY SATISFIED; and those responding with a 9 or 10 are PROMOTERS. The difference between the percent Promoters and the percent Detractors yields a metric called Net Promoter.
We measured the senior health insurance industry’s Net Promoter metric to be 33.2%. Meaning, there are more senior Promoters than Detractors - a 33.2% surplus of Promoters over Detractors.
But that's just a national number. You should see the differences in Net Promoter by insurance company. The differences are big, and our analysis is deep. How would you like to know United Healthcare’s Medical and Drug coverage Net Promoter numbers? The things detractors and promoters say about them? How UHC is differentiated from competitors? The proportions of customers with a switch intention?
Net Promoter (loyalty) links to perceptions of insurance company market differentiation. It also influences the subject matter of what customers say about their insurer. Loyalty and Market Differentiation are each related to consumers’ Intention to switch plans.
Loyalty, Market Differentiation, and Switch Intention as measured here – depict the market positions and degree of difficulty companies face when attempting to grow profitably.
This study will show you which among the major health insurance players is most vulnerable to customer defection and what may be lacking from those customers' experiences.
Information appearing here about Net Promoter was drawn from the work of Frederick F. Reichheld of Bain and Company. For more information see his article in Harvard Business Review, December 2003, "The One Number You Need to Grow."
