Advise on reply cards

Jan 19, 2007

  1. Insuranceman
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    I'm looking into doing post card reply cards for Medicare supplement plans.
    I'm also thinking that it might be better to do final expense mailer instead, because the senior market has been getting hammered with mail for Medicare Part C,D and supplement plans. Does anyone have any advise on which product would pull the best response.
     
  2. James
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    Medicare, no doubt it getting saturated but saturation is good. If there is no saturation such as Final Expense less so is because there is less interest. Obviously, go with Medicare as far as getting the best response.
     
  3. maxreferrals
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    Any luck with this?

    Let us know...
     
  4. fla2cali
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    fla2cali Super Genius

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    How did the reply cards pan out?

    f2c
     
  5. senior-advisor-indiana
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    I have always been told that the more generic the medicare reply card is the higher the response. But more of the leads are junk. So if you go more specific you get less leads with less junk.

    It amazes me how many people still don't realize that by sending in a reply card for medicare that an agent is gonna contact them.

    Final expense usually only pulls like a 1% return, I have gotton as high as a 5.5% return on medicare cards. I have been told that turning 65 leadsw get the highest, but i have a hard time closing those because i am captive and most of them are just shopping.
     
  6. Cenla Agent
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    If what you are selling has competitive rates I'd think you'd be able to close a good % of them. If you aren't that competitive, of course the shoppers will go with United World or whoever is cheapest in your state. If the company you represent doesn't have a lot of name recognition, some will probably go BC/BS just b/c of the name. Others will go with the first one they see if they like him, and I've seen people stuck with very overpriced plans as a result.

    A lot of prospects also don't know the difference b/w a Medicare Select and a standard supp and go with select b/c it is cheapest and its with a "big name" company. I don't know about y'all, but all of the Medicare Select hospital networks I know of here are worse than Humana's managed care MA networks (even the HMO) in probably every part of the state.
     
  7. Insuranceman
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    CMS has my hands tied when it comes to mailing for MA plans. So I.ve been testing Med supp mailers but my lead cost is still way to high and a lot of them are junk . I've been lucky, I've recouped my cost and put a few buck in my pocket but at the cost per lead I could easily. go in the red real quick.

    I've found myself a good telemarketer my lead cost is 1/10 of what it was with the reply cards the quality about the same so far.
     
  8. Cenla Agent
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    CMS does restrict use of marketing materials, but that doesn't mean they are prohibited. They simply have to have prior approval by CMS. Check with your FMO or the company you write for to see if they don't have some approved postcards or letters you can mail out. Usually these have pre-approved text with the only thing you can alter being your contact information and the name of the prospect if it's a letter.
     
  9. Insuranceman
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    I checked with my FMO there is a marketing piece /post card.

    Its large 4 colors post card/ reply card

    $ .30 a piece printing
    $ .10 a piece address & label
    $ .39 stamp
    ------------
    .69 a piece $ 690 per 1000 @ 1/2% responce 5 leads
    aprox. $ 138.00 a lead

    Way too much money per lead.

    I like postcard marketing and have made lots of money doing in the past,
    but this year my response rates have dropped from 1 1/2 - 2 % return to no more than 1/2 %. I've been makeing a little bit of money on 1/2% but
    I've been lucky I haven't lost my ass working such on such a low return.

    I think I'm going to start sending out letters with reply cards and following up with a phone call. Should be able to get 2-3 %. I hope?
     
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