Krishen Iyer is founder and CEO of Managed Benefits Services, based in Carlsbad and Fresno, which helps medical and dental insurance companies with their marketing needs. He sat down with Marketing Week for an interview on how he applies his marketing expertise to the medical benefits industry.
According to Iyer, one big issue facing the industry is that many marketing directors came up during the 90’s and early 2000’s, and may be somewhat lagging in their digital marketing skills. He cites one study where directors came in dead last in terms of their knowledge of PPC advertising, behind marketing executives, directors, and managers. The results were even more troubling when it came to e-commerce. For Krishen Iyer, this highlights the need for a greater emphasis on continuing education, not just for those on the front lines, but also for directors and managers.
One trend that Krishen Iyer is optimistic about is location-based marketing. Although recent privacy breaches have led users to become more cautious about sharing their location data, the Carlsbad resident points to customer rewards as a viable solution. One Microsoft survey showed that nearly all consumers would provide such information in return for such a bonus.
Another issue that Krishen Iyer discussed was the growing importance of brand value to a company’s overall marketing strategy. Consumers are more and more concerned with the values behind the brands they buy. In fact, one survey showed nearly universal preference for firms that treat their employees well and enjoy a solid reputation. A large majority even stated that they would be willing to pay more for brands that are socially conscious where their competitors are not.
A graduate of San Diego State University, located near the company’s Carlsbad office, Krishen Iyer went into the insurance business right out of college, founding his first venture, IHS Insurance. Read more on Iyer ‘s insurance marketing here.
He later went on to found My Premium Insurance, which cemented his reputation as an entrepreneur and afforded him the skills and expertise to start Managed Benefits Services, his current venture, which helps companies monetize their leads. He is passionate about learning, which has helped him become a success in the competitive world of business.
Follow Iyer on https://twitter.com/KrishenIyer