It’s a simple fact: better data leads to better decisions. Recent trends in HR have emphasized using more high-quality data during decision-making because of this. For brokers, the high value of data creates an easy avenue to add value to an offering. Brokers can up their services’ value by supplying companies with data metrics. Below are a few simple ways to add value to a company’s data-driven benefits marketing.
Collect Engagement Insights
Every benefits team should aim to maximize the impact of your benefits marketing plan. To achieve this, it’s crucial that you understand what employees actually value.
Certainly, you can collect engagement insights through focus groups, surveys, or interviews. However, these methods tend to be somewhat unreliable and don’t always give you a full picture of what your respondents actually value.
Instead, consider a route that collects raw data to review. Create your benefits marketing strategy around data collected in the wild– it drives powerful results. When you use real-time insights to learn which benefits employees review (and how often they review them), you gain valuable data. That data should help inform your benefits plans and strategies.
Digital benefits solutions (like Benefits Zone) not only give companies the opportunity to easily provide benefits information for employees to review, but they also deliver valuable engagement insights that can be used to make informed decisions.
A digital benefits solution makes it easier to use and analyze the data that you collect.
At their most basic, engagement insights from digital benefits solutions can help show which benefits employees access the most. Frequent access, for example, often means that offerings are some of the most popular or valuable; it could also indicate that the benefits are complex or confusing.
To determine which is the case, you need to dig into engagement data. Look for why employees behave the way they do in regard to certain benefits. Engagement data can show whether employees submitted a request or contacted an agent for more information about a benefit, for example.
Insights also allow a business to determine which benefits lead to the highest enrollment rates. Comparing engagement insights with the end result (or enrollment data) gives companies even more insight into how to present benefits in the future.
Brokers are expected to present themselves as experts on benefits offerings. The more a broker knows about benefits, the more faith companies will have in him or her to build data-driven benefits marketing plans.
Nearly ninety percent of companies trust their brokers. That’s a great statistic, but it doesn’t sound as positive when you consider that only 20% of those companies actually consult their brokers before making significant decisions. Not every business turns to their broker when creating a benefits strategy.
If you want to insert yourself into a company’s strategic decisions, you can take steps to do so. The first of those steps should be to analyze and provide actionable data from powerful tools. You can build trust with your clients by proving that you offer value when you come to the table.
Start Providing Data-Driven Benefits Marketing Insights
If you need an easy way to get started adding value to your benefits cases, Benefits Zone is the answer. Benefits Zone helps you collect, identify, and share engagement metrics. You can leverage those metrics to help build stronger ties with your cases. Request a demo to get started and learn more about how Benefits Zone could help you.