Med Supp Referrals

Sep 2, 2015

  1. smokin goose
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    For you vets. How many clients did you have on the books when you started getting a steady stream of referrals?
     
  2. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    323...................................
     
  3. JimmyUt
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    With med supps, it was less than 100. MAPD provides many more referral opportunities out here. I do live where the majority of the population resides.
     
    JimmyUt, Sep 2, 2015
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  4. senior-advisor-indiana
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    How many per month do you consider a steady stream? I get most of my referrals at point of sale. I also have a handful of long time clients that I get a lot my referrals from...
     
  5. sman
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    I rarely get them at the point of sale. Of course, the majority of my sales are done over the phone (not from telemarketing). But I do get unsolicited referrals from existing clients. It goes in spurts though. Sometimes it may only be a few per month and other times, like the last few weeks, it's multiple per week. And of course, during AEP I get a good bit. Some people still believe that's the only time they can change their Med Supp.

    I have no idea how many I had on the books before I started getting them on a regular basis. And I still wouldn't say they are "steady". As I outlined above, it can vary from month to month.
     
    sman, Sep 2, 2015
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  6. sshafran
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    You'll have some weeks where you get 2-3 calls and other weeks when you don't get any. I wrote 1 last week from a referral and 1 called in eligible for next year T65. Second person went straight in to my CRM with triggers to reach out around the 6 month mark to write their supp...

    To answer your question, I probably had 10 clients before I got my first referral. At least 100 clients before anyone would consider it to be remotely "steady"

    It's a business requiring a long view. For instance, the lady I wrote on Friday from a referral - my client called me in January asking when her sister could sign up with me. It was mapd, so 3 month rule applied, so we had to wait a while.

    I send brownies and a thank you card thru send out cards to anyone who refers me. It builds a good amount of good will - it keeps their antennas up and when their friends get close to Medicare - they mention me. But if their friends are all 60 - it may be a while!
     
  7. senior-advisor-indiana
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    I am 95% over the phone now and I still get referrals at POS. I'd say most of mine come during AEP from existing clients also. I'm definitely not getting enough to quit marketing though...
     
  8. sman
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    If my renewal and trail income (from investment business) weren't at current levels, no way I'm living off of referrals alone. I think I've written somewhere between 50-60 year to date, but that's all referral. I suspect I will get close to that many during AEP.

    I haven't done any marketing in several years. I always "threaten" to do some in the slow times of the year (February through August), but I end up goofing off most days. I still get some work done, but I'm certainly not working 8 hours per day. Sure, I'm in my office for 7-8 hours, but I'm shuffling papers, answering phone calls and emails and playing around on this forum. Some days it's hanging out at the pool or playing golf.

    What marketing are you doing?

    I really need to quit being so lazy.
     
    sman, Sep 2, 2015
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  9. senior-advisor-indiana
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    I do not know how many referrals I get per year but I don't think I get 50-60. Then again I do not follow up as much as I should which could be a huge part of it.

    I buy press 1 leads from Rick....
     
  10. smokin goose
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    I guess I'd consider a steady stream to be 1 a week. Just doing some mental masturbation as I prepare to change course from FE to supps.

    I've only sold 12 and I've gotten two referrals already. I rarely get a referral from an FE client and I've heard supps is a whole different ballgame in that respect.

    ----------

    Those are for your MAPD business, right? :-)
     
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