Medicare Millionaire

My "closing your file" is a form email. Takes all of maybe 3 seconds to send. Right before doing that I take their name off any follow up automated emails and any rate reports are likewise eliminated so the earlier email links don't work.

Kinda fun watching people click those links and getting nothing after I have fired them.

And yes, having a block of business with nice renewals changes your perspective and approach. When I was starting from scratch it was very hard to pretend it did not matter if they bought or not.

how did you build traffic to your web site?
 
How many Filipino folks calling? What are you having them say when they reach someone?

Great job on the production!

I have one telemarketer calling. It is a very simple approach. We're calling to review your insurance, whether that be medical, dental, vision, life. We inform them that we are often able to save them money and prevent unexpected problems. Close with a simple "we can have our agent there tomorrow, would morning or afternoon work best for you?"

This is not exact script, but the general presentation of it.

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There were several questions to which I did respond, but they were flagged for review. I don't know how long that takes.

Anyhow, I did want to answer a question the question of CHAZM regarding whether or not I'm getting a haircut on commissions for mailers from FMO. The answer is no. I would think that any quality producer can get leads mailed by FMO at no cost. That may be a limited amount of mailers, but with telemarketing I only need a minimal amount of DM.

During AEP, I would think any FMO would want to help a good producer generate leads. I get quite a few during this period. Again, at no cost.
 
I would think that any quality producer can get leads mailed by FMO at no cost. That may be a limited amount of mailers, but with telemarketing I only need a minimal amount of DM.

DM leads have a fairly long gestation period. Anywhere from 2 - 3 weeks to 2 months. This time of year (AEP) so much literature is hitting the homes. Good chance your stuff will get tossed without even opening unless the postcard or envelope is enticing.

I open almost anything Medicare related that comes here. If the verbiage looks good I steal it an apply to some of my material.

Amazes me how much stuff comes here that appears to be brainless. My 37 year old daughter, who hasn't lived here in 6 years, keeps getting Medicare mailers.

I got a T65 letter a few weeks ago from a local agent. I almost called to see where he got his list. It is two years too late plus I am an agent.
 
FWIW, I never use paper apps. If a carrier doesn't offer an e-app I don't write with them.

Even if I did F2F I would still use e-apps. All are saved as PDF on my computer and backed up with Carbonite. Also have access to a copy on the cloud anywhere there is internet access. When I travel out of town as long as I have a phone and internet I can still conduct business.

As your client block grows client relationships can suffer, depending on how often you "touch" you clients and how much counseling you do.

My clients know they can call or email anytime, but email is preferred. Gives both of us a permanent record of any conversation. I respond to emails from 6AM until sometimes as late as 11PM and I do that 7 days a week, dialed back slightly on major holidays.

Just yesterday a client called to ask about a new law where Medicare will pay your supplement premium for you. At first I had no clue what she was talking about. The more we talked the only logical answer was someone was using a twisted sales pitch to promote $0 premium MA plans.

I was on the phone with her for 10 - 15 minutes. During that time she asked if her plan was still a good buy. I had emailed her back in May to alert her to an upcoming renewal. At that time she had no interest in changing, even though she could save about $30/mo vs her renewal. Now she has an interest in reviewing options but a planned knee replacement for early next year kills that change. Towards the end of our conversation she thanked me for taking time to address her questions about this "free Medicare supplement" and told me she had passed my name along to a friend who is turning 65 in a few months.

I have over 400 clients. That block was built slowly as I gravitated away from under 65 health insurance before totally abandoning that market in late 2014. 400 clients may not seem like a lot to some agents but it keeps me off the streets.

It's just me. No hired help. Every one of my clients get personal attention and detailed answers to their questions. If we talk by phone they get a follow up email summarizing our discussion and my advice. Emails are tracked and often I notice they re-open an email months later to review something we discussed.

Medigap doesn't have the level of service work I had when my clients were all U65 but the questions and dialogue often lead to new referrals. Looking ahead to AEP I will have my hands full reviewing PDP options for many of my clients, fielding questions about changing their Medigap "since it is open enrollment" as well as working prospective new clients that come in via my websites.

PDP's, at least the way I work them, is very time consuming. Some can be done in 15 minutes or less which includes repeating the details in an email, while others can take 30 minutes or longer.

I don't cross-sell anything. My focus is Medigap only.

I also don't chase after people who don't want to buy or just want rates. New prospects are called once and once only. If we don't talk by phone in 3 - 5 days they get a "closing your file" email. My target is low hanging fruit. That works with my personality and "style". It results in long term clients, not just policy buyers.

Everyone works their business differently and everyone has different goals, monetary and otherwise. What works for one may not for another.

Working F2F is much different from phone sales. There is no way I could maintain the level of contact and service if I spent all day in the car. When I used to work "free" leads the system did not allow me to call ahead and pre-screen. (No phone number on the lead card). It was get in the car, drive and knock on the door until they answer or someone calls the cops.

Screw that.

When I started generating my own leads, and still working F2F, everyone was called and pre-qualified. Everyone got a reminder call the day before and right before I left to meet them.

Sure I burned through more leads (and still do) but my closing ratio and ROI went way up.

Again, I am not trying to convince anyone to change the way they do business. But I also know a lot of agents confuse activity with productivity.

I took golf lessons a few years ago. My trainer told me all the time at the driving range was wasted unless I was practicing the correct swing. Practicing bad habits is a waste of time and money.

Same goes for your business.

Keep up the good work.

A few years back when I was taking my wife out of the accounting field (her comfort zone) and getting her started selling Medicare she decided real quick that she was chasing no one. They had to come to her office. She wasn’t going out to homes.

I told her No way! It’s too competitive. No one will come to you. You will lose too much business.

She proved me wrong. Every time I go in the office she has one at the table and another waiting on deck. She runs a way more efficent and productive Medicare agency than I could have ever dreamed up.

You are right about not chasing them. The ones you see that are more serious stick better and are more solid people.
 
I thought she was a Stepford wife.

Apparently there is a stubborn streak in her.

Most agents do go to see the client/prospect where they live or work. I have done that in the past but terribly inefficient. Better closing ratio (F2F) but a lot of wasted time staring through a windshield.

I haven't had a "real office" for 25 years and I don't want strangers coming to my home. UPS and FedEx are OK. They drop off my "gift" and leave.

Before transitioning to personal production most of my work was over the phone and by fax.

Al Gore had not yet invented the internet and AOL AIM (which is being discontinued) didn't exist either.

Since I don't like to go see people and many people don't like strangers coming to their home it seemed logical that buying over the phone might work. I have used the same P&C agency for almost 40 years. During that time about half a dozen agents have serviced my account. I met the first one a few times but the rest could pass me in public and I would have no idea who they are.

Selling by phone, or having them come to you, is more a matter of getting the right mindset than anything.
 
I have one telemarketer calling. It is a very simple approach. We're calling to review your insurance, whether that be medical, dental, vision, life. We inform them that we are often able to save them money and prevent unexpected problems. Close with a simple "we can have our agent there tomorrow, would morning or afternoon work best for you?"

This is not exact script, but the general presentation of it.

I saw in one of your videos that your telemarketer generated 21 leads in 1 week. That is fantastic. Where are you getting your data list for her to call? Are you using List Shack? It sounds like it must be an accurate list.
 
I saw in one of your videos that your telemarketer generated 21 leads in 1 week. That is fantastic. Where are you getting your data list for her to call? Are you using List Shack? It sounds like it must be an accurate list.


That was 21 leads in one day! She works a 7 hour day. I get my lists from salesdatapro. It's not the list, it's the hard work of the telemarketer. She is a grinder. I used to get 12-15 everyday from a 5 hour shift. It's a big number but not outrageous.

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DM leads have a fairly long gestation period. Anywhere from 2 - 3 weeks to 2 months. This time of year (AEP) so much literature is hitting the homes. Good chance your stuff will get tossed without even opening unless the postcard or envelope is enticing.

I open almost anything Medicare related that comes here. If the verbiage looks good I steal it an apply to some of my material.

Amazes me how much stuff comes here that appears to be brainless. My 37 year old daughter, who hasn't lived here in 6 years, keeps getting Medicare mailers.

I got a T65 letter a few weeks ago from a local agent. I almost called to see where he got his list. It is two years too late plus I am an agent.

I agree there is a chance for direct mail getting lost in the clutter this time of the year. I do know however that companies like Humana, Wellcare and Aetna have provided tons of marketing money to FMO's over the years.

They usually mail just prior to AEP and normally there are thousands of mailers distributed to agents this time of year. The reason for the fair rate of return this time of year is that seniors are conditioned to act now. So, while they get much more mail, they respond at a much higher rate.

In example, I was with a prospect today and she had a SOA signed was ready to mail it in. This was a signed document requesting an in-home visit from an insurance agent. I'm not a direct mail expert, but I believe this more unique to AEP.
 
Do you get enough leads from your website so you don't have to do direct mail or telemarketing?

Haven't done DM in probably 10 years.

Tried TM a few years ago. Spent about $1,000 and no sales. Never been a fan of interruption marketing.

Millionaire, I imagine everyone get's higher returns during AEP for the reasons you stated. The challenge is having a message that is compelling enough to cut through the clutter.
 
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