Benefits Consultants

To: Benefits providers and benefits consultants
Subject: Using Persona^tm to build more effective financial well-being programs

Dear Benefits Provider/Broker/Administrator/Consultant,

ExperienceLab has gathered new national attitudinal research called Persona^tm that makes it possible to build financial well-being programs that engage employees better than previously possible.

Persona^tm has produced 300% average improvements in key engagement indicators including cost reduction, increased enrollment, contributions, engagement and employee satisfaction. In the example below, using Persona^tm resulted in average contribution improvements of over 800%.

What is Persona^tm
The Persona^tm research survey was fielded in 2019 to 10,000 consumers and covered a wide variety of employee needs, attitudes and behaviors towards savings, investment accounts, telehealth, financial wellness, financial stress, anxiety, price shopping healthcare, financial education, HDHPs, HSAs, medication compliance, and income protection.

How Persona^tm improves targeting for personalization
With a Persona^tm subscription, research results are appended to employee name and address lists. Then, existing employee participation is compared against Persona’s national attitudinal data. The gaps that appear, between the national attitudinal data and an employer’s own employee participation data, present well-being program developers with new insights into what is driving each employee’s benefit behaviors. This, in turn, exposes new targeting opportunities to reach the employer’s business goals.

[Each of our blog posts demonstrates this targeting technique of testing business as usual vs. the national data collected in the Persona^tm research]

How Persona^tm improves tailoring for personalization
The Persona^tm research also presents opportunities for all-new communications tailoring strategies. The national research data includes insights into employee knowledge of health and finance, self-discipline, feeling of control, decision making style, sense of security, risk management profile, current satisfaction level, and engagement preferences.

To the well-being benefits developer, these attitudinal insights reveal how each employee will react to differing communications styles and channels. They define what ExperienceLab calls “hot buttons and benefit barriers” and enable new, powerful personalization strategies.

Easy implementation
Implementing Persona^tm is fast. ExperienceLab licenses the Persona^tm research to employers at a price based on the number of employee names to which attitudes are appended. The Persona^tm research is linked digitally to a database of 300+ million US consumers through a partnership with Experian LLC. This makes it fast, easy and private to append the research to any employee name and address list.

ExperienceLab’s Persona^tm Blog for HR managers
ExperienceLab also provides a blog for HR managers and communicators to explain the Persona offering and provide access to the attitudinal research survey materials, responses, benefit applications and profiling analyses.

ExperienceLab Support
ExperienceLab/Persona^tm consultants support brokers and benefits administrators in licensing and implementing Persona^tm and presenting the Persona^tm value proposition within their organization or to employer clients.