AEP: Dealing with existing BoB changes vs adding new clients

[tcianflone]

I've been in the Medicare business around 8 years now and have a decent size BoB. What I'm finding is that, as an independent agent working solo, my business is becoming limited by its own success. Meaning, the BoB has become large enough that I have all I can do to manage changes for my existing clients vs taking on new clients. This AEP is going to be so disruptive that I'll have all I can do to move my existing clients to plans they can live with that I'm not really looking forward to it at all. It's just going to be a bunch of busy work to keep my same BoB. The first five or six years it was not like that at all. I've taken steps to use technology as much as possible to minimize the effort it takes to manage my clients and am considering possibly investing in CRM after this AEP. Have any of you experienced this? Any practical pointers appreciated.

 

[rmhaire]

I've been in the Medicare business around 8 years now and have a decent size BoB. What I'm finding is that, as an independent agent working solo, my business is becoming limited by its own success. Meaning, the BoB has become large enough that I have all I can do to manage changes for my existing clients vs taking on new clients. This AEP is going to be so disruptive that I'll have all I can do to move my existing clients to plans they can live with that I'm not really looking forward to it at all. It's just going to be a bunch of busy work to keep my same BoB. The first five or six years it was not like that at all. I've taken steps to use technology as much as possible to minimize the effort it takes to manage my clients and am considering possibly investing in CRM after this AEP. Have any of you experienced this? Any practical pointers appreciated.

8 years and no crm?

Check out MedicarePro and thank us later.

MedicarePRO | CRM

www.medicareproapp.com

 

[MedicareWAA]

I've been in the Medicare business around 8 years now and have a decent size BoB. What I'm finding is that, as an independent agent working solo, my business is becoming limited by its own success. Meaning, the BoB has become large enough that I have all I can do to manage changes for my existing clients vs taking on new clients. This AEP is going to be so disruptive that I'll have all I can do to move my existing clients to plans they can live with that I'm not really looking forward to it at all. It's just going to be a bunch of busy work to keep my same BoB. The first five or six years it was not like that at all. I've taken steps to use technology as much as possible to minimize the effort it takes to manage my clients and am considering possibly investing in CRM after this AEP. Have any of you experienced this? Any practical pointers appreciated.

Such a common dilemma. Yeah, you could go hire someone and maybe rent office space, but you worry whether [$75,000] extra annual cost, all in with salary and taxes and space, will give you a sufficient ROI as opposed to just running the existing business well and being comfortable hitting a ceiling.

 

[Yagents]

I hit max BOB capacity as solo agent 5 years ago with about 1500 belly buttons.

Now, I consider keeping my BOB each year as a success.

Those that leave or die are replaced by new referrals. I've thought about stop taking referrals, but found that would be a poor choice until I near retirement.

I won't hire help or another agent, as I've found it's a waste of time and money. You can't teach what's taken a decade(s) to learn.

 

[Yagents]

I signed up for Salesforce 15 yrs ago when they first launched. I locked in the $5/month lifetime rate. Best decision EVER

 

[DonP]

I've been in the Medicare business around 8 years now and have a decent size BoB. What I'm finding is that, as an independent agent working solo, my business is becoming limited by its own success. Meaning, the BoB has become large enough that I have all I can do to manage changes for my existing clients vs taking on new clients. This AEP is going to be so disruptive that I'll have all I can do to move my existing clients to plans they can live with that I'm not really looking forward to it at all. It's just going to be a bunch of busy work to keep my same BoB. The first five or six years it was not like that at all. I've taken steps to use technology as much as possible to minimize the effort it takes to manage my clients and am considering possibly investing in CRM after this AEP. Have any of you experienced this? Any practical pointers appreciated.

That’s a dilemma all of us have . As Medicare Waa said ti find someone that can really help free you up completely it’ll cost you $75 k plus a year , They need to be licensed . Will that $75 k salary make you $75k more in commission ? I highly doubt it . Now if you want to build a team and expand that way you must hire staff

 

[kgmom219]

100%. I am currently doing the email drafts.
At this point, you are past adding people during AEP. Whatever your goal is, start spreading it out over 12 months.

I have 2 people as support staff and hired a new agent. Who got the job because he's my son. This year, in addition to supporting me, he's doing the U65 renewals. It takes FOREVER to learn all this crap.

 

[DonP]

100%. I am currently doing the email drafts.
At this point, you are past adding people during AEP. Whatever your goal is, start spreading it out over 12 months.

I have 2 people as support staff and hired a new agent. Who got the job because he's my son. This year, in addition to supporting me, he's doing the U65 renewals. It takes FOREVER to learn all this crap.

Thats why i haven’t gone down that road as of yet . It’s years of learning to be super sharp like a seasoned agent . My son’s getting licensed and might help a little but it’s a multi year process .

 

[kgmom219]

Thats why i haven’t gone down that road as of yet . It’s years of learning to be super sharp like a seasoned agent . My son’s getting licensed and might help a little but it’s a multi year process .

I would do admin, first. But that's me. I hate answering the phone and checking voicemails. Yuk

 

[FMOadvisor]

I've been in the Medicare business around 8 years now and have a decent size BoB. What I'm finding is that, as an independent agent working solo, my business is becoming limited by its own success. Meaning, the BoB has become large enough that I have all I can do to manage changes for my existing clients vs taking on new clients. This AEP is going to be so disruptive that I'll have all I can do to move my existing clients to plans they can live with that I'm not really looking forward to it at all. It's just going to be a bunch of busy work to keep my same BoB. The first five or six years it was not like that at all. I've taken steps to use technology as much as possible to minimize the effort it takes to manage my clients and am considering possibly investing in CRM after this AEP. Have any of you experienced this? Any practical pointers appreciated.

I'm not sure who your upline is but I would say that Senior Market Sales has the best free technology. You can mass email all clients to do their updates for RX and Doctors on a secure server for AEP. You can also tag all of your clients with their existing plan and receive a report of any market disruption such as plan exits, and formulary changes across your entire book of business. i.e. if Lantus is removed from a formulary you can easily find every client in your book that takes Lantus. Not a commercial for them, but all of their technology is free which is helpful to your budget.