Hello, I want to reach a goal of 500-600 members for both MA and Medigap. I was thinking it would take roughly 3-5 years. Have any of you reached this goal and how long would it take on average (obviously based on agent to agent, but a general range). Just seeing what some of you think who do this everyday. Thanks.
MA and Med Supps
- Thread starter Engcon
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- 4,137
So you want to basically sign up 132 people a year (that's with a 10% attrition rate) so you need an average of about 3 policies a week over 5 years, 50 weeks a year.
Yes it's possible. However, the first question is ask is what's you're marketing plan? You need a really solid plan to consistently produce leads to funnel prospects, to funnel sales.
Your first year in this industry is really about learning to market and sell Medicare. Making wrong choices for Medicare is different from selling an FE plan. The senior can't just stop the plan and they may not qualify to leave the plan you put them on.
I just came back to insurance in March. I have a full time job and wanted to build a business as well to transition out of government work in 6 years. My goal is half of yours, but my plan and goals are different.
My last 9 months was really testing how I wanted to market and investing a lot of time in learning some marketing plans that a lot of people ignore. My goal is to be automated as much as possible and nurture leads with lots of value.
Building a system takes a lot of upfront work, but once you have it going it makes marketing much smoother and you spend more time writing policies vs selling.
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- 1,432
Your goal is very doable.
What do you think your biggest challenge will be?
I'm asking partly for selfish reasons. My son wants my help getting started with Medicare in January. (He's sold other lines for the last 11 years.) I have forgotten what it feels like to be a Medicare newbie and want to be better prepared to mentor him.
I should be able to help him get to 100 in the first year working part time until AEP, but he'll have a mentor and funding. The second year, I think he'll be able to do up to 300 if he wants to hustle.
So yeah, with the right training, funding and discipline, your goal is very attainable.
In my 1st 6 years, I did 800 clients, This is not 800 active at one time I lost enough along the way, I had made a lot of mistakes, Including not actively looking to check rates every 2 to 3 years
Starting last year in 2018 counting only rewrites from client 2017 earlier, in 2018 I did 200 clients and 2019 will be between 250 and 300 clients 2020 I am looking for another 350
I only started calling past clients for rewrites this past Feb and will continue to hit all of 2017 and earlier this year 2020 and should be complete by sept
It is absolutely possible Important to not let yourself get discouraged when having a slow month
Also should check the rate for medsupp clients every 2 to 3 years and this will save a lot of business
Also, important to get in front of people you need to have a marketing plan and be willing to spend the money and or the time to get in front of those people many of them
Starting last year in 2018 counting only rewrites from client 2017 earlier, in 2018 I did 200 clients and 2019 will be between 250 and 300 clients 2020 I am looking for another 350
I only started calling past clients for rewrites this past Feb and will continue to hit all of 2017 and earlier this year 2020 and should be complete by sept
It is absolutely possible Important to not let yourself get discouraged when having a slow month
Also should check the rate for medsupp clients every 2 to 3 years and this will save a lot of business
Also, important to get in front of people you need to have a marketing plan and be willing to spend the money and or the time to get in front of those people many of them
I think your goal needs to be bigger, frankly.
It'll take a lot of time to get there when just starting out new - assuming $275/yr per policy it's about $137,000.
Subtract marketing and you aren't making bank.
May as well shoot for 1,000+ then you'll actually earn enough to have made it worth it.
[I've sold over 700 - started part-time for several years while working another sales job - it took me about 9 years but if you are doing it full time starting out it should take less time].
I've added 189 medsupp/mapd clients in the past 365 days according to my CRM - but I think I can get that to 250+ new yearly.
I agree with you I am started to do that now but this is all with experience both you and I
I do think to start out newbie without experience 1000 in the 1st 5 years is tough,
Although With experience I think I will hit that in less than 4 years starting with 2018
Although I was part-time the 1st year and half but there is still a lot to figure out in marketing and cost vrs value in the beginning too to add to the inexperience
Plus business begets business, You need clients to start getting referrals
I am not saying it can't be done absolutely it can But I do think 600 in first 5 or 6 years is a good start the next 5 years it will be much easier to hit the 1K mark
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This ^^^^
I have had referrals almost from the start but came in with some regularity once I got to 300 clients. At 500+ I was swamped with referrals this AEP on top of folks who found me on the web.
Haven't put a pencil to it but probably get 8+ solid referrals / new clients per 100 existing clients. I get a fair number of referrals throughout the year but some can't move for health reasons, others find there isn't enough $$ savings to justify. Straight referrals per 100 clients is probably 10+ with about 8 becoming clients.
I am happy with that for a one man shop and no real marketing costs.
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You'd be proud. I wrote 2 people during AEP who 100% found me online. They were in Texas, though, so I had to get that license... but, they found me online...... that was cool.
TX is a great state to have, I do a ton of buis in TX it's on of my top 3 which included Il and NC
Yes, Scott @sshafran you did make me proud. Many of the folks who find you end up being easy sales. Very surpised at the number of folks who have said they watched several, or even ALL, of my video's.
When they mention YT it is almost a guaranteed sale.
When they mention YT it is almost a guaranteed sale.
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