Building a Medicare Book Without Prospecting

[FLM2]

Thanks to some advice received on the forum and a GA I started doing direct mail letters and postcards to a T65 list.

The letters were just received starting yesterday and today and I've already had 3 incoming phone calls plus 2 others from a smaller postcard mailing.

Each of the callers scheduled an appointment so my pilot program for no outbound calls seems to be working, just signing these up will more than cover my costs and that is the overall goal since these commissions will mostly be lifetime (assuming the clients stay with me).

I'm posting this as an encouragement to others thinking about the same thing-if you are, you can get started without much of a budget (the letters cost me 57 cents in full color, the postcards 54 cents through Click2Mail).

I'm also starting a test mailing using a reply card so I will have to work some leads, it makes sense to compare these and have a second stream of leads.

This forum tends to be frustrating at times but the amount of information and help you can get (and share back) makes it worthwhile, thanks for everyone's input (even those who told me I'm crazy and lazy lol).

 

[sman]

Thanks to some advice received on the forum and a GA I started doing direct mail letters and postcards to a T65 list. The letters were just received starting yesterday and today and I've already had 3 incoming phone calls plus 2 others from a smaller postcard mailing. Each of the callers scheduled an appointment so my pilot program for no outbound calls seems to be working, just signing these up will more than cover my costs and that is the overall goal since these commissions will mostly be lifetime (assuming the clients stay with me). I'm posting this as an encouragement to others thinking about the same thing-if you are, you can get started without much of a budget (the letters cost me 57 cents in full color, the postcards 54 cents through Click2Mail). I'm also starting a test mailing using a reply card so I will have to work some leads, it makes sense to compare these and have a second stream of leads. This forum tends to be frustrating at times but the amount of information and help you can get (and share back) makes it worthwhile, thanks for everyone's input (even those who told me I'm crazy and lazy lol).

Nothing wrong with being crazy and lazy if it works for you. I think I'm a little of both myself. I certainly know I'm a little lazy.

 

[steveadlman]

Thanks to some advice received on the forum and a GA I started doing direct mail letters and postcards to a T65 list.

The letters were just received starting yesterday and today and I've already had 3 incoming phone calls plus 2 others from a smaller postcard mailing.

Each of the callers scheduled an appointment so my pilot program for no outbound calls seems to be working, just signing these up will more than cover my costs and that is the overall goal since these commissions will mostly be lifetime (assuming the clients stay with me).

I'm posting this as an encouragement to others thinking about the same thing-if you are, you can get started without much of a budget (the letters cost me 57 cents in full color, the postcards 54 cents through Click2Mail).

I'm also starting a test mailing using a reply card so I will have to work some leads, it makes sense to compare these and have a second stream of leads.

This forum tends to be frustrating at times but the amount of information and help you can get (and share back) makes it worthwhile, thanks for everyone's input (even those who told me I'm crazy and lazy lol).

You have not written them yet, let us know if you write all five.

 

[FLM2]

You have not written them yet, let us know if you write all five.

Wrote 4 out of the 5-one was a husband/wife-the other was a no show (he was coming to my office).

Also had 3 other calls this week so am very pleased with the results to date.

 

[agentjhc]

Do you send them local, statewide, out of state?

 

[FLM2]

Do you send them local, statewide, out of state?

Local, all face to face meetings

 

[PittAgent]

Thanks to some advice received on the forum and a GA I started doing direct mail letters and postcards to a T65 list. The letters were just received starting yesterday and today and I've already had 3 incoming phone calls plus 2 others from a smaller postcard mailing. Each of the callers scheduled an appointment so my pilot program for no outbound calls seems to be working, just signing these up will more than cover my costs and that is the overall goal since these commissions will mostly be lifetime (assuming the clients stay with me). I'm posting this as an encouragement to others thinking about the same thing-if you are, you can get started without much of a budget (the letters cost me 57 cents in full color, the postcards 54 cents through Click2Mail). I'm also starting a test mailing using a reply card so I will have to work some leads, it makes sense to compare these and have a second stream of leads. This forum tends to be frustrating at times but the amount of information and help you can get (and share back) makes it worthwhile, thanks for everyone's input (even those who told me I'm crazy and lazy lol).

I'm brand new to med supp sales. Would you be so kind as to share your letter?

 

[FLM2]

Since posting this thread in June I have added 36 new Medicare clients through a variety of sources:

• Direct mail with phone number for incoming calls
• U65 clients aging into Medicare
• AEP referrals
• Informal sales events
• Recapturing clients who were on plans with non-appointed companies

What didn't work at all (at least for me) were:

• Direct mail with reply card
• Preset T65 appointments

I've spent about $4500 in all of the above (both the good and the bad) and made more money than that on FY commissions plus have the renewal stream. If I include a 5 year renewal cycle for these clients (most of them are MAPD and in their 60s) I estimate my ROI as 1000%.

Overall I'm pleased and plan to do this for the full year in 2016 (just the things that work, of course) and have a minimum goal for the year of 50 new clients (I don't work full time outside of the Open Enrollment periods)

 

[JimmyUt]

Since posting this thread in June I have added 36 new Medicare clients through a variety of sources:

[*]Direct mail with phone number for incoming calls
[*]U65 clients aging into Medicare
[*]AEP referrals
[*]Informal sales events
[*]Recapturing clients who were on plans with non-appointed companies


What didn't work at all (at least for me) were:

[*]Direct mail with reply card
[*]Preset T65 appointments


I've spent about $4500 in all of the above (both the good and the bad) and made more money than that on FY commissions plus have the renewal stream. If I include a 5 year renewal cycle for these clients (most of them are MAPD and in their 60s) I estimate my ROI as 1000%.

Overall I'm pleased and plan to do this for the full year in 2016 (just the things that work, of course) and have a minimum goal for the year of 50 new clients (I don't work full time outside of the Open Enrollment periods)

While I think your ROI is a bit high because of attrition and other factors, it is good you found what works. I always say if I can get 2 to 3 times ROI first year, the rest takes care of itself.

 

[FLM2]

While I think your ROI is a bit high because of attrition and other factors, it is good you found what works. I always say if I can get 2 to 3 times ROI first year, the rest takes care of itself.

I understand but, in my experience, my clients stay with me for the long term, most of the ones I wrote in 2012 have renewed with me for 2016 and will be with me for much longer than 5 years since they are mostly in their 60s and early 70s. I figure that for each one of the ones that leave through attrition I have a couple that will stay far beyond the 5 years so use that as a conservative estimate.