Health insurer validates tech concepts in under 2 weeks

By
Neya Abdi
August 9, 2024
1
min read
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Company Overview

Healthcare organizations are under increasing pressure to innovate and develop customer-centric products. Market tests offer a rapid way to test and build new offerings. A major private health insurance company worked with Heatseeker to validate their latest product. 

The Experiment

The company ran a Value Proposition Test on Meta, using a stealth brand, so the market test results would not be influenced by their existing brand. Heatseeker and the health fund’s team developed 34 variants that each represented a standalone offer. These advertisements ran on Meta for 5 days. The results of the experiment would be determined by the following: 

  • Buyer Intent Rate: The weighted score for the interaction of buyers with the experiment variants based on impressions, clicks, and leads.
  • Confidence Level: Statistical confidence that the winning variant outperforms the lower performing variants.
  • Improvement: The percentage improvement of the winner over the lowest performing variant (baseline). 

The test included multiple variants of the company’s value proposition, and the variants were a mix of options that reflected internal ideas, ideas from market research, and ideas from their competitors. 

The Result

Buyers interacted 2 times more with the winning variant compared to the current value proposition. The winning variant had a Buyer Intent Rate of 17.6% with a high confidence of 98%. The experiment also revealed that the top 2 variants resonated 2 times higher with women, identifying an area where marketers should focus more of their efforts. 

“We need to know this concept will work before we invest more in product development. Heatseeker just saved us weeks – our execs are going to love this…”

Innovation Principal

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Neya Abdi

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