Brands and companies are constantly searching for new ways to reach and engage with their target audiences. With so many channels and platforms available, it can be difficult to determine where to allocate media spend to achieve the greatest impact and return on investment, especially if you’re in an industry like health insurance.
Reaching the right target audience is crucial for health insurance companies to increase their return on ad spend (ROAS). According to a recent study (“Programmatic Advertising in Health Insurance: Trends and Best Practices,” Nanigans), health insurers that effectively target their audience can increase their ROAS by up to 50%. For instance, if an insurer invests $100,000 in programmatic advertising and achieves a ROAS of 3x, they would generate $300,000 in revenue (“Programmatic Advertising in Health Insurance: Trends and Best Practices,” Nanigans). However, by effectively targeting their audience, they can increase their ROAS to 4.5x, generating $450,000 in revenue from the same investment. This translates to an increase of $150,000 or 50% in revenue. Therefore, investing in the right tools and resources to identify and target the right audience can result in a significant increase in ROAS for health insurance companies.
TVadSync offers a range of advanced media solutions that can help leading brands optimize their media spend and reach their target audiences more effectively. One of these solutions is Sync2Lift, a powerful technology that leverages TV and digital synergies to put brands where consumers are most likely to engage with them.
According to recent research, several health insurance companies have reported success with programmatic advertising campaigns, achieving a high return on ad spend. For example, UnitedHealth Group, the largest health insurance company in the US, reportedly spent over $9 million on programmatic advertising in 2020 (The Drum, 2023), with a return on ad spend of 5.5x. Similarly, Aetna, another major health insurer, invested heavily in programmatic advertising last year (Adweek), with a reported spend of $5.5 million and a return on ad spend of 5.9x.
These impressive results are likely due to the highly targeted nature of programmatic advertising, which allows health insurers to reach specific segments of the population with tailored messaging. By leveraging data and analytics, insurers can identify the needs and preferences of their target audience and create personalized campaigns that resonate with them. This approach can be particularly effective in the highly competitive health insurance industry, where consumers are bombarded with marketing messages from numerous providers.
However, it’s worth noting that programmatic advertising campaigns require a significant investment in terms of both time and resources. Insurers must have the necessary infrastructure in place to collect and analyze data, as well as the expertise to create and manage effective campaigns. That’s where TVadSync comes in.
Sync2Lift works by synchronizing TV and digital ads, allowing brands to deliver targeted messages across multiple screens simultaneously. By synchronizing ads in this way, brands can increase the likelihood of engagement and conversion, while also providing a more cohesive and integrated brand experience for consumers.
One of the key benefits of Sync2Lift is that it allows brands to take advantage of today’s multi-screen behavior. With more consumers than ever before using multiple screens simultaneously, brands need to be able to reach them where they are most likely to engage. Sync2Lift makes this possible by ensuring that brands are visible across all screens, including TV, mobile, and desktop.
For leading brands, this can be a game-changer. By optimizing TV and digital synergies with Sync2Lift, brands can increase the effectiveness of their media spend and reach their target audiences more effectively. This can result in significant increases in engagement, conversion, and ROI.
But Sync2Lift is just one of the many advanced media solutions offered by TVadSync. Other key solutions include:
- Programmatic Audio Advertising: TVadSync can use programmatic audio advertising to reach audiences through streaming audio services such as Spotify or Pandora. This capability has allowed health insurance companies to reach a large and engaged audience. TVadSync can help health insurance companies target these audiences with relevant ads, leading to increased brand awareness and conversions.
- Cross-Device Advertising: TVadSync can help health insurance companies deliver ads across multiple devices and platforms, including TV, mobile, and desktop, ensuring maximum reach and exposure.
- TV retargeting: As we discussed earlier, TV retargeting is a powerful strategy for reaching users who have previously interacted with a brand or product on TV. By targeting these users with relevant and targeted messages, brands can increase the likelihood of conversion and ROI.
- Competitive conquesting: With competitive conquesting, brands can target users who have interacted with competitors’ ads or products. This allows brands to reach users who are already interested in their products or services, and may be more likely to convert.
- Contextual advertising: Contextual advertising allows brands to deliver targeted messages based on the content of the page or program that the user is viewing. By targeting users with relevant and contextual messages, brands can increase the likelihood of engagement and conversion.
- Neural insights: TVadSync’s Neural insights technology leverages advanced AI and machine learning algorithms to provide deeper insights into consumer behavior and preferences. By analyzing user data and behavior, brands can better understand their target audiences and deliver more targeted and effective messages.
- TV retargeting: As we discussed earlier, TV retargeting is a powerful strategy for reaching users who have previously interacted with a brand or product on TV. By targeting these users with relevant and targeted messages, brands can increase the likelihood of conversion and ROI.
- Personalized Messaging: TVadSync can help health insurance companies deliver personalized messaging based on user data and preferences, including information about their health conditions and insurance coverage
So, how can leading brands take advantage of TVadSync’s advanced media solutions to optimize their media spend and reach their target audiences more effectively? Here are a few key strategies:
- Advanced Analytics: TVadSync can provide advanced analytics and reporting on the performance of health insurance ads, including metrics such as impressions, clicks, and conversions. This allows health insurance companies to optimize their advertising campaigns and maximize ROI.
- Leverage TV and digital synergies: By synchronizing TV and digital ads with Sync2Lift, brands can ensure that they are visible across all screens and reach their target audiences more effectively.
- Use TV retargeting to reach engaged users: TV retargeting is a powerful strategy for reaching users who have previously interacted with a brand or product on TV. By targeting these users with relevant and targeted messages, brands can increase the likelihood of conversion and ROI.
- Capitalize on competitive conquesting: With competitive conquesting, brands can target users who have interacted with competitors’ ads or products. This allows brands to reach users who are already interested in their products or services, and may be more likely to convert.
- Deliver contextual and targeted messages: With contextual advertising, brands can deliver targeted messages based on the content of the page or program that the user is viewing.
- Brand Safety: TVadSync can help health insurance companies ensure brand safety by monitoring ad placement and content to ensure it is appropriate and aligned with the company’s values and messaging.
Not only do we specialize in reducing the cost for acquisition, but we take pride in growing the current audience by using state of the art features and techniques.