After failing to make a go of it selling FE by DM here in the FL panhandle, or rather shall I say I got tired of the BS, I thought I would transition to the Medicare Supplement market and try that for a while. The first thing I did was buy telemarketed leads. After placing a couple of orders I realized these people are as hard to make contact with as those DM leads I got for FE. Then I decided to mail a postcard to T65 people. Let the marketing company talk me into call tracking, Facebook ads and Google Web Service for an extra fee, but in their words it would pay back more than I invest. The total cost was about $3800 with postage. Well after mailing 5000 postcards I have had 5 reply cards returned with names, some of those with no address and some of those with no phone. Had numerous returned with a hand written note, let's just say words I can't post here. Nobody has tried to make contact in any other way. This morning I got a receipt by e-mail where the marketing company charged my credit card for $459.98 for subscription services. I called them right away and was told that call tracking, Facebook ads and Google was only free for 3 months. No one told me this when I signed up. They had no right to charge my credit card that I used to make the initial payment with. I demanded a refund. Now they call this afternoon and ask when I wanted to reorder. If I sell all 5 of the leads I received I won't come close to breaking even. If anyone works this market here in the FL panhandle I would like to know how you do it successfully.
Lesson learned
- Thread starter billyb
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- #3
I have sold quite a few Medicare Supplements since I transitioned from FE. All referrals from P&C agents so I might forget DM and concentrate on compensation for these P&C agents so they will send me every lead they get. Lately I have had 2 contracts Not Taken because of doctor's offices recommending Florida Blue. I tied to explain that a Plan F is a Plan F, but the insured wouldn't listen to me and chose to go with what their doctor advised.
Uh, what does the CONTRACT you signed say?
They can promise you a BJ with every reply, but unless it is in WRITING it doesn't mean jacksheet.
You can blame the doc all you want but the problem here is the agent that did not explain the way Medigap works.
You are not gaining the TRUST of your clients. If you were, this would not happen.
In 8 yrs of writing Medigap I have had 2 not taken.
In 40+ yrs of writing health insurance I may have had a dozen not taken. That includes literally thousands of apps.
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- #5
Had a case today where the lead is under age 65 and has cancer. She wanted a Plan N Medicare Supplement and the least expensive is Humana. She called the doctor's office while I was there and asked if they excepted Humana and they said NO. I told the girl in the billing department that it was a Medicare Supplement and she could go to any doctor anywhere. The doctor's office still recommended Florida Blue. I assured the applicant that I was right and she bought Humana. Some people are swayed by their doctor's recommendations no matter how good an agent you are.
I must admit, it’s been quite some time since I’ve purchased leads or worked the DM market, but it sounds like things have changed quite a bit.
MedicareMillionair
Guru
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If you build a system where you control the lead generation, you will better control the lead quality and have a much lower end cost. I use offshore telemarketers, the cost for leads becomes a very, very small expense. You should investigate this avenue of lead generation before you get so frustrated, your out of the business.
I pay less than $1,000 per month for more leads than I can run.
I pay less than $1,000 per month for more leads than I can run.
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- #9
I once did. Built up about $20,000 in annual renewals from MAPD and MS business and the CGA terminated my contract for no reason. Did the same to several other agents. As long as the company pays the CGA and he then pays the agent I will not sell for them again.
You can’t in FL. Unless you only want to sell them and no one else.
I haven’t lost a sale to FL blue in ages.
To billy
You have to get their trust first. I only do F2F so trust is easy to gain in my opinion. If you’re selling on the phone, I can’t help you there.
I only do DM for t65’s. I’m about to add another month out so I’ll be sending Dec, Jan and Feb in one week. Build your pipeline.
But if you’re still only willing to do med supps in FL and you’re working T65’s, you will leave tons on money on the table.
