Challenge: Home health care is complex to navigate
Navigating home healthcare is complex, from choosing the right provider for your specific needs to understanding what is covered by your insurance. The complexity compounds when you’re in the middle of a health emergency and you don’t have a plan in place. Our client wanted to reduce the stress and anxiety with finding home care by developing a service to help people navigate these situations.
While our client conceptually knew this service offering was missing in market, they didn’t have the data or financial projections to justify the investment. The client needed help designing a proof of concept and testing the service offering, pricing, and advertising concepts.
Solution: Validating market demand for a care navigation service
Archetype helped the client to conceptualize, design, and validate the new home care-focused care navigation offering. By following the steps below, Archetype collected enough data to recommend moving the offering into pilot testing.
- Market Research: conducted a competitive analysis to identify gaps in the care navigation market for home health care.
- Buyer Personas: created profiles of potential buyers and users, including individuals needing care and their loved ones who may require a care plan.
- Market Survey: surveyed 1,000 participants to understand their needs and willingness to pay.
- Advertising Concepts: alongside a digital advertising firm, developed advertising concepts and a marketing website for live testing.
- Digital Ad Testing: ran a three-week digital ad campaign to track analytics like impressions, clicks, website visitor frequency, and sign-up form submissions.
- Data Analysis: analyzed the metrics to measure interest and intent to purchase the service.
- Financial Models: built models to inform the go-forward strategy, including:
- A customer lifetime value ratio.
- The cost to run a nine-month pilot to collect further market information, primarily focusing on validating various pricing tiers.
- Projections for three years of operation as an independent company. The model also projected the overall investment required to operationalize the service and the anticipated short-term return on investment.
Results: Green light for launch
At the end of the engagement, our client had a consumer-tested concept to make home health care less complicated to navigate. The market testing resulted in:
- A validated concept for a service that creates a new revenue stream for the client.
- Intellectual property from developing a branded website and advertising concepts.
- A go-forward plan to operationalize the offering through a pilot test with strategies for developing partnerships with other home care agencies and employers.