Marketing Ideas

[Experienced Agent]

With healthcare.gov working somewhat better, I've been approached by several of my peers to begin marketing individual health again. The primary concern is where to go. It has been suggested that we get out door hangers in areas where people will likely qualify for subsidies. This, of course, brings the issue of "quality of business". Will it stick or will we simply waste time writing business that will never pay us.

We could always begin internet leads or other traditional methods, but the appeal of high volume in areas where we could generate unlimited lead flow is intriguing.

Any thoughts or ideas?

 

[jemelton]

What would be a high volume area? That is the major question. A low income area would not be IMO and would likely have many people on Medicaid.

 

[Gabe9175]

With healthcare.gov working somewhat better, I've been approached by several of my peers to begin marketing individual health again. The primary concern is where to go. It has been suggested that we get out door hangers in areas where people will likely qualify for subsidies. This, of course, brings the issue of "quality of business". Will it stick or will we simply waste time writing business that will never pay us.

We could always begin internet leads or other traditional methods, but the appeal of high volume in areas where we could generate unlimited lead flow is intriguing.

Any thoughts or ideas?

At the risk of sounding like an infomercial, what you are describing is exactly what my company does. We are an MGA our of Grand Rapids Michigan and have our own agency. In addition to that we work with individual health agents and agencies all over the country. The traditional cold calling and purchasing transfers rout just wasnt getting us where we wanted to be. We created our own way of doing things with a combination of lead generation, custom built CRM, integrated IP phone system with click to dial, tech support, and training on our system all in one. Agents have access to an unlimited fresh lead database that is populated every day as well as scrubbed live transfers by our marketing department. last year we had a handful of agents write over $900,000 in annual premium. If would like to learn more about this feel free to contact me.

 

[Experienced Agent]

What would be a high volume area? That is the major question. A low income area would not be IMO and would likely have many people on Medicaid.

You state one of the concerns I have regarding high volume areas. It would be easy to generate a lot of inquiries if you advertised subsidies in a low income area. This probably would backfire with Medicaid and poor prospects overall. The question is whether or not you could identify a sweet spot by targeting an income range starting at the dollar amount that entitles an individual to maximum subsidy, ( I'm not in a Medicaid expansion state) with a high income range qualifying for some subsidy.


This may not be practical, but worth the conversation. Also, what other methods to get to this target market. Would telemarketing work?

 

[jemelton]

What state are you in?

 

[Experienced Agent]

What state are you in?

South Carolina...................

 

[Yagents]

Bad approach. Heavily subsidized business is and will be a nightmare to service, and will be the first to drop off the books. Then as mentioned, you're either gonna come across a lot of medicaid eligible biz in expansion state, and non subsidy eligible in non expansion state.

Why not just put your ad inside/outside a bus if you're going to go after this market?

(I'm being facetious)

 

[jemelton]

Heavy subsidized business will not fall off the books if the premium is $0

 

[Yagents]

What about $50?...............

 

[GreenSky]

At the risk of sounding like an infomercial,

. Agents have access to an unlimited fresh lead database that is populated every day as well as scrubbed live transfers by our marketing department. last year we had a handful of agents write over $900,000 in annual premium. If would like to learn more about this feel free to contact me.

So generating $900K in annual premium at 4% commission is a whopping $36K of commission.

Can you teach us to be one of the handful of agents not even making $40,000?

Rick