Optum Bank HSA
To provide a marketing analysis for Optum Bank HSA, Fidelity HSA, Bank of America HSA, Lively HSA, Connect Your Care HSA, and Benefit Wallet.
Otum Bank HSA
- Optum Bank is a subsidiary of UnitedHealth Group.
- While Optum's revenue was readily available through UnitedHealth's annual report, their marketing spend wasn't reported.
- However, we do know that UnitedHealth spend $366 million on advertising in 2018. How much of that was focused specifically towards HSA products and services was not specified.
- Optum Bank markets itself as an easy solution for healthcare spending, using the slogan "An easy way to save smart" for their HSA products.
- Their website focuses heavily on providing tips to customers about how to open an account and how to maximize their benefits from the service.
- They use both videos and short informative bullet points to get their message across.
- However, marketing HSAs must not be a priority of the bank since their social media profiles rarely features HSA-related material.
- Whenever they do post about HSAs, they focus on providing tips and education materials to its customers. They have also used webinars in the past to talk about HSAs.
- We were also not able to find any specific marketing campaigns that were done by the bank in relation to HSAs.
Proposed next steps:
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In this report we provided a marketing analysis for Optum Bank. We propose to continue by providing the requested marketing details about Fidelity HSA, Bank of America HSA, Lively HSA, Connect Your Care HSA, and Benefit Wallet. For each we will focus on their marketing message specific to HSAs, the different points/proof they are using to support those claims, their advertising spend, and 1-2 marketing campaign examples, including the type of content they used and the response it received from the customers.
We could also identify 2-3 case studies of financial service companies that have run a successful HSA marketing campaign. For each company, we will analyze what their messaging is in general, what their messaging was for that specific campaign, identify the type of content used in the campaign, and successful metrics for the campaign.