Senior Product Marketing Executive
Title:
Senior Product Marketing ExecutiveType:
PermanentStart Date:
ASAPSkills:
Knowledge & Experience
- Educated to GCSE/O level and A level (or equivalent) standard including English Language & Mathematics at GCSE
- Experience of project management and/or product line responsibility
- Marketing communications experience
- Experience of business to business prospect development, segmentation and account management
- Confident preparing and producing marketing proposals and sales documents using a variety of software (Power point, Word, Excel)
- Managing effective relationships with agencies and third party administrators
- Knowledge of health/insurance/financial services market
- Knowledge of regulatory/compliance requirements (FCA, PRA, FOS, ICOB)
Skills & Abilities
- Ability to produce documents, reports and proposals within short time frames and to tight dead lines
- Good presentation skills using PowerPoint
- Good analytical skills
- Excellent verbal and written communication skills
- Completer/finisher who is flexible, focussed and able to multi task
- Learns quickly and enjoys responsibility
- Ability to show initiative and make decisions
- Has an attention to detail and produces work of a consistently high standard and accuracy
- Ability to encourage new ideas from the team
- Creative thinker with solution based approach to problem solving
Personal Attributes
- Enthusiastic and energetic self starter
- Analytical thinker, with the ability to turn MI into recommendations
- Effective team worker
- Positive coach and mentor
- Organised and timely
- Self motivated
- Real interest in working in the insurance industry/small friendly Society
- Professional attitude
- Willingness to undertake training & progress knowledge
- Open & communicative style with all levels of the organisation and external contacts
- Willingness to work towards a CII qualification
Description:
The Product Development Executive reports to the Head of Marketing, Membership and Broker Services. The primary focus of the role is to manage existing and new product development, including competitor analysis, identifying market gaps and spotting emerging trends. The Product Development Executive must be able to accurately manipulate data and develop learnings into key decisions, recommendations and future products and services.
Key Elements:
– Collate and analyse marketing information to recommend changes and improvements to existing and new product propositions.
– Responsible for the pricing and benefit review process of our existing product range and project management of new product development.
– Ensure all policy documentation and marketing material is clear, fair and not misleading and adheres to regulatory requirements.
– Lead and manage delivery of operational and strategic projects where appropriate
– Working with the Business Development Team and Marketing team agree, deliver and analyse effective marketing plans for all Company Partners using online and offline channels, working with third party suppliers when necessary
Key Responsibilities:
New product development
Project management of new scheme or new product features from initial stages of concept review through to final launch. This may involve co-ordinating resources between internal departments and external suppliers.
– Regular monitoring of competitor products and innovation with recommendations (in relation to product launches, new market entrants and general health insurance news).
– Produce full product specification documents when required to manage project and provide audit trail of decision making process to justify investment
– Ensure smooth implementation of new products into existing business process and IT systems. Use of project management software (if required) and techniques to successfully manage new products through development and launch cycle
– To apply principal of ‘treating customers fairly’ throughout development of new product concepts and design
– Follow up, monitor success and feedback any changes necessary
– To support project work carried out by the Board/Committees through research papers and competitor reviews
Product management
Responsible for the maintenance, review and development of our range of health insurance plans
– Manage the annual benefit review for each scheme type in conjunction with management team and internal stakeholders. Assist with the annual pricing review when necessary.
– Ensure an audit trail exists for the decision making process and amendments to policy terms and conditions
– Identify and manage impact of changes to product design on IT/system requirements (NOVA and web) and all marketing literature
– Use of control spreadsheet to track and record progress of amendments to policy documentation
– Responsible for co-ordinating technical amendments to all related policy documentation
– To produce monthly benefit/price benchmark comparison report against competitor products
– To update and manage relevant sections of the marketing procedures manual in line with changes to business processes
– Consider member and customer feedback in relation to product design changes and improvements. To use survey responses and feedback from compliments/complaints
– Ensure all documentation fulfils best practice in relation to FCA, PRA and ABI common definitions and guidance.
Management information and market research
– Ensure delivery of marketing, membership and broker analysis on agreed basis, for review and commentary
– Competitor price comparison produced monthly
– Ensure regular monitoring of competitor products and innovation with recommendations (in relation to product launches, new market entrants and general health insurance news).
– To produce monthly marketing and membership analysis for review and commentary. Use of Dynamic Query, Google Analytics and other software, to produce ad-hoc MI reports to support decision making on product reviews and to identify trends (including cancellations, service standards etc).
– Provide product and pricing information for external research and surveys (i.e. Defaqto)
– Support member forum activity through event organisation, analysis and/or action planning
Partnership marketing
– work with strategic partners and marketing team to agree an integrated marketing communications plan with supporting budget attached to the IAR agreement activity (including advertising, creative work, copywriting, digital, web site, direct mail)
– assist with tender responses including existing and new prospect development process and initial approach
– assist with production of tailored presentations to support both credential stage of business proposition and also full scheme administration proposal
– produce scheme marketing performance reports at agreed intervals for review and sharing with affinity contacts
– to act as point of contact for all partner marketing enquiries
– when necessary attend face to face catch up meetings and/or conference calls with all partners
– all partnership marketing activity will be supported by campaign profit and loss projections (including associated expenditure) and anticipated response rates
– monitor and measure performance of partner marketing following agreed procedures and controls (to include scheme profitability and measurement against annual targets)
– if required, support and attend partner conferences, exhibitions and other promotional events
– work with marketing team to prepare summary prospect proposal documents for board or management review/approval
Project Management
– to support projects related to membership, marketing or distribution.
– work with designated Project Sponsor and project team in consultative manner to ensure clear communication of objectives, timescales and responsibilities
Contact database management
Using the contact database ensure all diary appointments, contact details, correspondence (letter + email), visit reports and contact status (i.e. last phone call) are recorded.
Training and competence
– To assist with the production and delivery of product training to membership, broker and marketing teams when necessary.
– To attend and complete any necessary training to ensure suitable knowledge of products and procedures.
– To attend any necessary training on software and operating systems to support delivery of the role.
Compliance/Regulation
– To follow and comply with relevant regulation (e.g. FCA, PRA, DPA etc.) and Internal Society procedures and processes in relation to treating customers fairly, financial promotions, production of marketing material and product information published on our own and partner web sites.
– Provide response to internal or external audit requirements relating to product management and membership procedures.
Member services support
– Occasional support of general membership services will be required from time to time (handling over flow telephone enquiries during busy periods).
