Need To Know July22

With fear of inflation and economic uncertainty potentially complicating B2B selling this summer, experts are suggesting employee benefits marketers need to focus more on understanding their customers and prospects better and targeting the ones most potentially interested in what you have to sell.

That’s why even more businesses are turning to intent data research as a key part of their marketing strategy. Listed by Forbes as a top tech trend to leverage in B2B marketing this year, increasing the role of intent data in your marketing strategy will allow you to understand which companies are actively researching topics related to your solution and allow you to target the companies that are most likely to buy your products.

Implementing intent-based research has been proven to increase close rates and sales. Gartner reports that respondents using first-party, second-party and third-party intent data are 2.9x as likely to have a conversion rate of 10% or higher. This higher conversion rate has also allowed “99% of businesses who have invested in intent data to see a sales/ROI increase.”

BenefitsPRO’s ABM/Activate capability uses an AI-based purchase engine that analyzes how customers interact with content on more than 7,000 topics. Then compiling this information, the program ranks possible leads with an easy-to-understand surge score indicating buyer intent.

We use a multi-channel strategy to message and drive key account leads, including display advertising, guaranteed key account lead generation, and co-branded emails.If you’d like more information about our AI-driven intent capabilities, please contact me at [email protected].

Trends Employee Benefits Marketers Need to Know

  • A recent report from Quest Diagnostics finds that employers are taking “extraordinary measures to attract and retain talent.” While some might debate whether health care benefits, access, and affordability should really be described as “extraordinary measures,” the moral is that The Great Resignation is adding urgency to issues that have been percolating for a long time now. Is it possible that others are finally catching on to what advisors have been preaching for years?
  • Speaking of, a growing number of benefits advisors and employers are exploring the direct primary care model, a trend we’ve been covering closely for several years now. A new report provides further evidence of this trend, shows the model grew dramatically between 2017 and 2021 and that both employers and providers seem to be more comfortable with the model, which allows employers to contract directly with providers, rather than leaving contracts to insurance carriers.
  • And another key trend we’ve been watching for a while now is the lack of transparency in health care. This remains a key focus of many benefits advisors who are looking to improve care and reduce costs for their employer clients. And while there are many signs of slow progress, a new study shows that there is still plenty of room for improvement, as confusion and uncertainty continue to dissuade many from seeking care: “Lack of transparency may contribute to the 44% of people who avoid obtaining health care because they don’t know what it will cost. And it’s a number that’s seemingly quickly growing: in 2021, only 25% of people reported avoiding care because of cost uncertainty.
  • Inflation and its effect on employees is a trending topic in the employer-sponsored retirement industry at the moment, with higher gas and food prices chipping away at funds that would otherwise have gone into emergency savings or 401(k)s. Industry experts predict that increased inflation will also affect the Social Security cost-of-living adjustment for 2023, potentially pushing it up as high as 9%.
  • Another key trend is the notion of guaranteed income – annuities – in 401(k)s. The SECURE Act made it possible, and many advisors want to sell them, but there are still some recordkeeping wrinkles to iron out. Despite the opportunity for new income sources, however, some advisors are raising concerns about fiduciary risk. This trend, as well as the potential to offer cryptocurrency in 401(k) plans, are going to be important to monitor as plan sponsors decide how best to weigh the risk of litigation or a DOL audit or penalty.
  • Employers are keeping a close eye on the Supreme Court’s leaked ruling on abortion rights, with many big names announcing plans to assist employees seeking access to procedures. After the official ruling, we’ll see a lot of questions about health plan coverage of abortions and other compliance issues–and we’ll be working with industry experts to get answers.
  • At the end of May, Elon Musk made headlines (once again) by announcing that Tesla workers would be required to come back to the office. Other employers aren’t so sure, and we’re seeing more lean into finding the right mix of hybrid work policies and focus their attention on redeveloping company culture and restructuring teams to maximize employee satisfaction and productivity.