The AEP (Annual Enrollment Period) and OEP (Open Enrollment Period) seasons in 2024 present unique challenges and opportunities for performance marketers in the health insurance industry. With evolving regulatory changes, shifting consumer behaviors and the need to stand out in a competitive marketplace, marketers must be proactive and well-prepared to maximize results.
These are the best practices as outlined by the internal Compliance team at DMS and should not be taken as legal advice. We recommend you consult with your Legal team to further define your own best practices.
Navigating AEP/OEP Marketing in 2024: 5 Essential Strategies
In this article, we'll dive into five key strategies that will help performance marketers navigate the complexities of AEP and OEP marketing in 2024 and enhance their lead generation efforts.
1. Prepare Early & Stay Agile This AEP/OEP Season
Preparation is crucial for a successful AEP/OEP season. Start planning well in advance to ensure compliance with regulatory changes and internal requirements. The timeline for carrier review on marketing materials can take up to three months or more, so advertisers must be proactive and timely in submitting materials for approval.
Additionally, be prepared to adapt to changing trends and consumer behavior. Test different audiences and marketing strategies to find what works best for your target audience. Being flexible and agile will help you stay ahead of the competition and make informed decisions based on real data.
2. Utilize Data-Driven Targeting To Find High-Intent Audiences
Data-driven targeting is a powerful tool for reaching the right audience effectively. Partner with experienced performance marketing professionals, like Digital Media Solutions (DMS), who understand compliance requirements and have direct carrier relationships. Full visibility into lead performance and comprehensive tracking can provide you with the necessary insights to optimize your campaigns effectively.
Test campaigns well in advance to establish a baseline of performance and volume. By doing so, you'll be ready to hit the ground running when the critical dates of AEP and OEP arrive. Avoid any technical issues and start building momentum ahead of time to scale your efforts successfully. “With open enrollment approaching, stress test your teams and strategies now to prevent scrambling later,” advises Scott Vogel, DMS VP and GM of Health Insurance.
3. Unlock Success In A Competitive Market With Strategic Diversification
Diversification is key to standing out in a crowded marketplace. Explore exclusive lead and call flows to acquire high-intent leads and increase inbound calls to your call center. Leverage the success of existing O&O (owned and operated) sites to control the consumer experience from end to end. Transparency and compliance are key to building trust with consumers and carriers, which DMS reinforced by going live with 1:1 consent for Medicare leads on July 1, well ahead of the October 1 CMS deadline.
4. Stay Informed About Regulatory Changes
Regulatory changes in the Medicare space can significantly impact marketing strategies. Be diligent and proactive in understanding and adapting to evolving rules. “Navigating the regulatory changes requires businesses to be diligent and proactive. It's essential to work closely with compliance teams or someone who has their ear to the ground to ensure that all efforts align with the new guidelines,” said Vogel.
5. Collaborate With Experienced Partners
Leveraging the expertise of DMS in the industry can help you navigate the complexities of Medicare marketing effectively and ensure successful AEP and OEP campaigns.
Set Yourself Up For Success This AEP/OEP Season
The AEP and OEP seasons in 2024 will require performance marketers to be proactive, agile and well-prepared. By starting early, diversifying marketing strategies, leveraging data-driven targeting and collaborating with experienced partners, businesses can navigate regulatory changes and stand out in a competitive marketplace. The key to success lies in staying informed, being compliant and delivering accurate and compelling marketing messages. With these five strategies in mind, performance marketers can seize the opportunities and achieve outstanding results during the AEP/OEP season.
Are You Looking To Maximize Your AEP & OEP Campaigns?
DMS connects many of the nation’s leading health insurance providers and agents with customers and near customers. Our AEP and OEP campaigns are designed to maximize results by matching high-intent health insurance shoppers with the health insurance providers and agents that meet their needs. Contact DMS today to learn how our first-party data asset, proprietary technology, and expansive digital media reach can help you maximize your health insurance campaigns.
Are You A Publisher Looking To Maximize Monetization Efforts For AEP/OEP And Beyond?
The team at DMS is committed to the success of our publishers. From the simple touches, like being there when you need us, to more strategic support, we build relationships with our publishers and advertisers so we can align needs and deliver both audiences what they need to achieve their goals. Contact DMS today to learn how you can become a preferred publisher.