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: 

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• 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). 

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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. 

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“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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