By
Neya Abdi
August 9, 2024
•
1
min read
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 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:
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.
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