Considering selling Medicare part time, please advise

[somarco]

There is a big difference in selling a PRODUCT vs selling YOURSELF.

Almost all of the DM peddles a product. Best coverage . . . lower premium . . . more free stuff.

The Namath ads sell product. They pick up buyers who are POLICYHOLDERS, not clients.

Those mentioned above, who have built a successful business, based on DM with INBOUND CALLS understand the difference. They work SMARTER, not HARDER.

Product peddlers are constantly replacing their inventory of policyholders. Policyholders are loyal to the PRODUCT, not the agent. When something new comes along that SEEMS better than what they have now, they are gone like the wind.

A carrier that introduces a new whiz-bang product with eye candy the policyholders believe the product they have is not as shiny as the new one. If there is no downside to them they trade in the old for something new.

An agent can HUNT for new policyholders . . . or they can GATHER new clients. Hunting requires time and money and each day is the same. Pack up your gear, go find something to kill.

American Indians learned how to trap fish. This video explains.

 

[kgmom219]

Starting part time is the way to do it. For $60K a year, you need 250 clients, assumes $240 per client per year. (Which is a low ball number, but $20/month is after taxes. It works.)

Determine your natural market. Are you in Florida? Then you will have a lot of MAPD's. TX? It will be a mix. What's the income for your immediate friends/family?

The biggest thing is to not give up. If you get 50 in year 1, you'll get 100 new, 50 renewals in year 2. Then year 3, its 150 new, with 150 renewals.

 

[Spin]

Starting part time is the way to do it. For $60K a year, you need 250 clients, assumes $240 per client per year. (Which is a low ball number, but $20/month is after taxes. It works.)

Determine your natural market. Are you in Florida? Then you will have a lot of MAPD's. TX? It will be a mix. What's the income for your immediate friends/family?

The biggest thing is to not give up. If you get 50 in year 1, you'll get 100 new, 50 renewals in year 2. Then year 3, its 150 new, with 150 renewals.

I'm in Phoenix, I have family and friends whose family members are on Medicare.

 

[aheff]

I don't think your game plan will work. Only work Friday nights and weekends? Tough. Your committment is part time- it will show. Once you have a book of business and you want to take your foot off the gas, part time is all you need. Starting off in the biz, p/t will be very, very tough.IMO

 

[Todd King]

Todd I’ve run every demographic in the book . I run 10 k mailers a month .When you run t-65 or generic Medicare mailers income levels $35-$100k you’ll be lucky to get 3/1000 back . And not a one will call you . Travis if I’m not mistaken your doing something like Scott does . 200-300 letters for like 4-6 months in a row to the same people “ I’m a local agent and some info “ Yeah that will work but it’s not going to get you much vol . The poster is better off doing seminars on sat and setting some appts during the week . Or trying to generate leads on Facebook .

If you only do T-65 then I can understand why you wouldn't get a larger return. I don't think you would have to go as high as $35K either. Set the lower income to around $25K...maybe even $20K. Either way though, I think you're going to get some dual-eligibles mixed in.

 

[20th Maine]

I wouldn't qualify them on the phone.

This is one of those things I think you're better off handling the T65 crowd. No qualification needed, really.

Consider T65inbound.com

Yes, it's not as cheap as DM outbound, but its hands off, yes it'll take 4-5 months before you start getting calls. However, those that call you are easy 40% close rates.

You'll need a cash flow to support your insurance habit at first. Just be consistent.

After 20 years have stil not found anything that works for T65

Never heard of T65 inbound? I can look at the site but rather hear it from someone that uses them?

 

[DS4]

…….. set up appointments for Fri night, Sat, and Sun.
.

Who would have knee replacement surgery from a physician that only worked these hours?

 

[LostDollar]

Caveat, not an agent.

I wouldn't qualify them on the phone.

This is one of those things I think you're better off handling the T65 crowd. No qualification needed, really.

Consider T65inbound.com

Yes, it's not as cheap as DM outbound, but its hands off, yes it'll take 4-5 months before you start getting calls. However, those that call you are easy 40% close rates.

You'll need a cash flow to support your insurance habit at first. Just be consistent.

After 20 years have stil not found anything that works for T65

Never heard of T65 inbound? I can look at the site but rather hear it from someone that uses them?

Not absolutely sure, but I think you just did.

 

[sshafran]

After 20 years have stil not found anything that works for T65

Never heard of T65 inbound? I can look at the site but rather hear it from someone that uses them?

I own it.

It's a pretty simple concept - send multiple letters but keep the list smaller with the most likely buyers.

ie if you do any f2f (or even if you don't) - it's likely that you have a better chance of writing the person who lives 5 miles from your office than you have of writing the people 85 miles from your office.

So, smaller lists. 300 is popular.

Then, mail them not one letter, but several letters over a period of several months sequentially.

ie if I mail 300 (more likely due to proximity) people 6 times, I have a better chance of some calls vs mailing 1800 people one time.

Some areas it works better than others.

And if an agent isn't patient they won't get along with this method. Agents who bug me 2 months into it with "I only got 1 call or 0 or only 2" need to find something else to do.

The majority of my book was built using this method in two different states, so I know it works - but it's small sample sizes and the reality is some months will be better than others, and there are even some areas with just some factors (saturation?) that make it not work at all.

 

[Travis Price]

Who would have knee replacement surgery from a physician that only worked these hours?

Anyone that wanted the knee replacement from that doctor.

I don't go to people's houses at all. I tell them if they need someone to come to your house to explain Medicare, I'm not the agent for them. Rarely does that become any issue.

T65, specifically, are usually working and/or transitioning into retirement. You can easily set appointments Friday or Saturday if that's what you need.

Also, most in home sales are one call closes and your never hear from them again.

The benefit to running your own book is that you get to make those decisions, and literally anything works if you're consistent enough at it.