Benefits Advisors winning with video
According to comScore, 78 million Americans watched more than 33 billion online videos in February 2013, an 800% increase from just six years ago.
For employee benefits advisors, online video is now reaching into employee benefits communication and making a real difference in how they can compete, win and improve client satisfaction.
Four benefits advisors have shared how using video and the Video Benefits Meeting platform has made a difference in their business. Here’s some of what they had to say:
“It’s part of our everyday discussion”
Scott Shapard, Managing Director of Worksite Benefits at Higginbotham & Associates in Ft. Worth, Texas says online video has been “a tremendous win” and played a role in securing an $80,000 annual commission on a new group benefits client.
“The reaction from HR people we have presented to has been very positive. You can just see the relief on their faces when we show this tool. It’s another great value we can offer,” says Shapard.
When a client used video for the first time to educate employees and spouses about their HSA program, Shapard was pleased with the response. “Spouses sent me email thanking me for putting the videos together for them. They said they now understood what they had and how to use it. More people maxed out the HSA because they understood it.”
“Video Benefits Meeting is another arrow in our quiver. Clients use it like an Intranet with all their forms, links, plan summaries, compliance documents, and educational videos. It’s become part of our communication strategy.”
“Our people are starting to include Video Benefits Meeting as part of their everyday discussion during renewals and with prospects. Our people ‘get it’ now. In the beginning when this was new to our team, I said to them, “Just try it once and you will get thanked by your employer for doing it. It will make you want to do it for everyone.”
“Communication is key”
Marzena Patent, Marketing Coordinator for Benefit Express, a benefits administration firm, in Chicago, reports the firm promotes and uses video capability in everything from flyers, blogs, newsletters, in-person demos, online enrollment and their corporate website.
“Communication is key. People are confused about what’s being offered and what actions they need to take. Employees are being asked to participate in more of the decision making and shopping decisions relative to their benefits. Video increases the range of capabilities we can offer, and video is a big, hot topic,” says Patent.
She continues, “We’ve seen our clients use video in all parts of the communication and enrollment process. We’ve seen a huge increase in demand for this type of solution.”
“Video provides the information employees need right at their fingertips. Typical written plan information is long, cumbersome and difficult to digest. Videos make important benefits messages easier to comprehend.”
“A game-changing tool”
Blue Back, LLC is a strategic employee benefits and risk management firm in Hartford, CT.
Eric Thompson, the firm’s Principal, has experienced the advantages of bringing video communication and education capabilities to clients and prospects.
After being awarded the business for a 150 employee company, Thompson shared the video communication capability from Video Benefits Guy with the new client and they were “blown away.”
Previously, the former broker used “a static online benefit website from one of the largest CRM providers in the country.” Thompson, understanding the value of Video Benefits Guy, replaced the current site without charging the client. According to Thompson, “feedback from the employees (located in over 15 states) was tremendous and now we demonstrate Video Benefits in every prospect meeting.”
“We made the right decision,” the client said to Thompson during open enrollment. “You know how to solve problems better than the national firms.”
“The ease of use is phenomenal and it’s cost effective,” continued Thompson. “We can customize the solution with video content, forms, documents, SPD wraps, ERISA compliance materials – it’s a huge relief for clients.” He concluded, “With Video Benefits Guy we now enter every prospect meeting with a game-changing tool in our tool box.”
“We love it. Our clients love it”
Jon Braddock is CEO of ISG Advisors in Madison, Wisconsin. The firm uses video capability to strengthen its competitiveness, existing client relationships and retention. ISG promotes video capability as its eBin solution, or Electronic Benefits Information Network.
In offering video capabilities, Braddock reports “Every client says, ‘that’s awesome, what’s it gonna cost?’ Clients are amazed we have not charged a dime. But they know if they leave us, we’re going to turn it off.”
ISG has launched dozens of eBin Video Benefits Meeting sites. Common uses are for open enrollment, new hire orientation, hosting certificates and compliance documents, easy access to carrier resources, and video wellness education.
“Spouses at home can access video education to learn and understand benefits options to help in decision making,” says Braddock.
“It’s an extra value-add that’s different,” states Braddock. Video Benefits Meeting is so intuitive, simple…it explains things. We love it. Our clients love it.”
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