Change for 2016--Learn from Your Experience?

Dec 7, 2015

  1. YaWatever
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    YaWatever Expert

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    Greetings all you tired AEP'ers!

    The past few years I have pounded FE hard Jan-October. Used DM leads--when they didn't yield FE sales sometimes they led to Med Supp or MAPD. Worked Medicare as leads came my way and then hard in AEP. ITs getting harder and harder to have an FE conversation---talking to other agents FE close ratio in my area has gone way down and some are leaving that segment.

    My PLAN for 2016 is: Do more Med Supps--based on my experience that its much easier to have a Medicare conversation than a FE conversation.

    Med Supp commissions are lower but--persistency much higher, therefore renewals higher. Let the Med supp leads take me to MAPD and FE business rather than the other way round

    Anyone else use Med Supp leads and then also pivot to other products?

    What sources of Med Supp leads did you find the most effective?

    I have an outline sketched out I am going to send to a couple of my Med Supp carriers and an IMO and see what I get back.

    Would LOVE to hear your take.
     
  2. GreenSky
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    GreenSky Guru

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    One glaring error in the post. Med Supp commissions are higher when you include the new and likely 5 years of renewals.

    The best leads are those developed from your own telemarketer. It's not rocket surgery.

    Another error. The carriers haven't a clue about generating leads for individual agents.

    Rick
     
  3. YaWatever
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    Yeah I said---higher renewals

    I get tons of leads from two of my carriers--they both do TV, DM, billboards

    No errors here. Thanks anyway
     
    Last edited: Dec 7, 2015
  4. thomasm
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    Are you talking about direct mail returns going down, or the leads are harder to close?

    Close ratio is more dependent on your presentation than the area, especially if you have the right carriers and DM returns are good.

    My 2016 plan is to focus on med supp replacement, and remember to recommend investing a portion of their savings on premium into a final expense policy.

    I read somewhere on the forums, someone was cross-selling a final expense plan 50% of the time just by bringing it up on every sale! It's worth trying!
     
    thomasm, Dec 7, 2015
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  5. YaWatever
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    The number of responses is going down and the stupid responses (I thought this was FREE, I cant speak to anyone) are going up. Its not in the presentation---one cant GET to a presentation

    I monitor Craigslist to see who is recruiting--a year ago there were a couple of FE firms every day. There has only been a few in the last month. So for whatever reason that business is drying up here.

    I agree--the best FE leads I have are--Medicare appointments--and yeah I bring it up all the time and results in as many sales as the crazy DM replies

    Appreciate the positive feedback
     
  6. axeman462
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    Where are you located the fe is drying up?
     
  7. JimmyUt
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    leads from the carriers or the IMO? If it the carrier, please enlighten us as that is an awesome deal. I agree with hiring your own Telemarketer. Unless you are going to sell face to face, cross selling isn't as easy.
     
    JimmyUt, Dec 7, 2015
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  8. DS4
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    Lead with the Medicare supplement, then, bend their ear on FE.

    In fact, I use the Medicare supplement as a loss leader to get to the real big money. The Part D plan.
     
    DS4, Dec 7, 2015
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  9. G.Gordon
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    G.Gordon Guru

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    FE can't dry up unless you are focused on one city or small county. Chances are you are tired of that market, that will force the mental awareness to perceive that there are fewer recruiters, harder sales, crappier leads, etc. Our attitude towards a situation will create more than 50% of what we see in that situation.

    It is ok and smart to toggle between the two, maybe your subconscious has experienced a more rewarding feedback from the Medicare market and it is driving you there. What you dream of being will find a way to materialize itself and direct your actions.

    Good luck.
     
  10. GoPokes
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    GoPokes Guru

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    I used to work for a captive agency, we would recruit mostly from career builder. But sometimes we would recruit through craigslist. When we stopped, it wasnt because the market was drying up, it was usually because our craigslist recruits always had a criminal record, and they were difficult to get licensed and appointed. And sometimes, they didnt have a vehicle (unfortunately you cant do this business solely using public transportation)

    So, I wouldnt use that as a primary factor to determine your market. Just my thoughts
     
    GoPokes, Dec 7, 2015
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