Initial Assessment and Strategic Approach

As the company's first marketing leader and started with this assessment.

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Marketing & Communications Strategic Focus

This is an abridged version of the assessment. Proprietary detail has been removed.

OVERVIEW

The medical professional liability (MPL) industry is evolving, and Coverys is expanding to new markets to stay ahead. Marketing and communications must also adapt, redefine its role, and build new capabilities to support growth. To be successful, the department must be redefined, and talent must be acquired to augment current skill sets and experience.

What shapes our priorities?

Industry changes

Changing market – M&A, captives, hospital groups buying physician practices
Intensifying competition
MPL as a commodity
Decision-makers shifting from MDs to C-suite

Customer behavior changes

Digital interactions are replacing traditional sales.
Buyers rely on online content for decisions — Coverys must provide valuable insights and content to support customer needs.
Customers expect seamless digital experiences in all areas of our business, and brand loyalty is fading for companies who don’t deliver.

Greatest Needs

Brand awareness and reputation building on a national level, eventually in Europe. Unfamiliarity with the company name impacts Coverys’ inclusion in a customer’s decision-set. How do we craft messages around capabilities while retaining a core brand that resonates no matter what list of products we offer? In addition, most employees stated that they did not know how to describe the company and its unique proposition - it didn't have one.

Capabilities. There is a lack of internal and external knowledge about the current product/service features and offerings, reducing cross-selling and upselling.

Target audience assessment. We need a better understanding of the target audience's needs and expectations and how to reach them. This should include the identification of prospects by name and contact information.

The customer experience and ease of doing business need enhancing. All touchpoints with the prospect and client should be a great experience for them: From offering credit card payments to web chat service to comprehensive portals.

Priority Initiatives Year 1

Branding & Strategic Messaging

Complete brand research, brand audit and touchpoint assessment.

To refine and extend the current Coverys brand, a brand audit should be completed to create the foundation for the next brand and awareness building phase.

Craft messages in understandable language for all audiences, including staff. This can anchor internal training on the Coverys capabilities, which is very much needed.

Train Coverys staff, especially sales, on using the messages.
Develop Living the Brand Ambassadors to help infuse the brand into our everyday culture.

Know the Audience

Build knowledge of the target audience

By understanding what resonates with our target audience and who they are, we can craft behavior and psychographic personas that support messaging, targeting, and responding to customer needs.

Awareness

Launch Brand Awareness Campaigns

With a new brand, Coverys can better reach healthcare executives through media, content marketing, social media, and speaking opportunities.

Create thought leadership program – Share patient safety insights from claims data.

Expand social media – Grow presence on Twitter and LinkedIn.

Refine marketing campaigns – Target key decision-makers and geographies, working with sales and analytics teams to identify areas of opportunity.

Progress & Outcome Measures

Create and implement measurement strategy

Align data strategy – Work with analytics to capture and expand data for better decision-making.

Create a department scorecard – Track performance and outcomes.

Establish a marketing operations role – Oversee database management, lead quality, and coordination.

Evaluate marketing automation – Enhance lead nurturing and campaign tracking will be vital as we ramp up new marketing campaigns.

Sales Support & Enablement

Develop marketing plans to support sales goals

Beyond brand awareness and messaging, we can enhance team effectiveness with strategic tools:

Test digital vs. direct mail – Direct mail works but is costly and hard to scale. Digital marketing can complement or replace it.

Use predictive modeling – Identify high-potential buyers and share insights with sales and agents.

Adopt a web-based sales tool – A customizable platform ensures reps access the latest materials, reducing version control issues.

Enhance the website as a “virtual table” – Deliver key information for prospects who research online rather than meet in person.

Explore a no-agent sales channel – Develop online purchasing while integrating agents into the process.

Customer Portals Enhancement

Upgrade the Agent and Client Portals

The company that excels at customer experience has a significant competitive advantage in the field. First, focus on these opportunities:

Enhance agent and policyholder portals – Improve functionality and usability based on user feedback to boost retention.

Develop co-branded materials – Equip agents with customizable collateral accessible via the portal.

Develop a customer experience exploratory team to identify areas ripe for improvement.

Website as a Marketing Tool

Enhance website effectiveness to attract and retain clients

Continuously enhance website effectiveness to attract and retain clients.

Investment in the website is needed before we create a virtual decision-making tool for prospects.

Consolidate the subsidiary websites to support brand simplicity and reduce confusion.

Evaluate the website as a marketing and customer engagement tool rather than as a product listing site.

Create a call-to-action strategy across the website.