Starting Over in Med Supp Sales

[dignitylmg]

Any suggestions concerning websites for leads. Should I have a site built or one of the prepared sites? I have no experience in this type of marketing but I am going to do something.

I will be in Mississippi the next couple of weeks and holding an openhouse for agents. Agents attending will be able to share ideas with each on topics such as leads, websites, products, presentations, etc. If interested send me an e-mail [email protected] and I will provide you with the dates and times.

 

[KJ in Miami]

Do you mind sharing any advice on marketing your own website?

I tried internet leads again a few months ago. In the past I had success with health (major med) purchased leads but that has been at least 3 years since I did that.

I only write gap, not MA business. That limits my market but I don't care, this is the way I want to run it.

The internet Medicare leads I got were no better or worse than my prior experience with health leads. One thing that caught me off guard was the number of folks calling these people.

I purposely carved out leads in rural area's where MA plans would be scarce and I thought most folks would rather use "their" doc vs a network doc.

My lead purchases started before AEP and ended about half way through.

What began as a trickle soon became a flood. Between my own efforts (website) and the purchased leads I did not have time to follow up on every one.

My direct leads were of better quality and closing ratio significantly higher.

Perhaps purchased leads would be better outside of AEP and especially if you are writing the full spectrum of Medicare products.

Otherwise you need a lot of money to fund your pipeline and be prepared to wait 60 - 90 days before the cash flow starts.

If I were going to market direct to seniors I would probably develop fliers to place (with permission of course) in senior centers, libraries, etc. Probably would also do informational seminars.

Of course if you are promoting products regulated by CMS you are going to have a lot of challenges.

Cold calling from a list is not my idea of fun but I have done it before. It is perhaps the most cost effective way (other than factoring in your time) of finding qualified buyers.

Frank Stastny is the one person you should talk to about the gap business and his prospecting system.

 

[somarco]

Content, content and more content.

Long tail key words, especially specific to your geographic area.

Track your visitors, especially the search terms. When you see a visitor that got to your site by way of terms that indicate an interested buyer, use that search phrase in a new blog post the next day. Quote it verbatim (except for any spelling errors).

 

[droberts]

I have receive contracts from several carriers, thanks Frank. Also started cold Calling, thanks Josh. First week in the field I wrote 6 medsups and one $100 per month fe policy. It was an interesting week after 7 years off from sales. I again would like to thank Frank and Josh for their help and everyone who post on this forum giving me encouragement to start again.

 

[pcbinsurance]

That's awesome! Congrats to you and kudos to the gentlemen who assisted you!

 

[Focus LTC]

I have receive contracts from several carriers, thanks Frank. Also started cold Calling, thanks Josh. First week in the field I wrote 6 medsups and one $100 per month fe policy. It was an interesting week after 7 years off from sales. I again would like to thank Frank and Josh for their help and everyone who post on this forum giving me encouragement to start again.

Very Very Very awesome. You keep that up and you'll have a $1Mil in paid premium in a couple years. @ 18%-20% renewal rate, you'll be raking in $200K per year in your sleep. VERY AWESOME!

 

[Midlevel]

What is the average Final Expense face amount all of you write? Is it $10,000.00 or so? That $100/month sounds high so that's why I asked?

 

[Frank Stastny]

What is the average Final Expense face amount all of you write? Is it $10,000.00 or so? That $100/month sounds high so that's why I asked?

When I cross sell a FE policy to a new Med Supp client I really don't "sell" it. I just make the suggestion that they may want to reinvest a portion of the money I saved them and put it in a FE plan.

If I save a client say $40 per month I will probably start by suggesting they reinvest $20 per month. If they don't balk at that I will show them that for an additional $10 per month they can get a higher benefit level. I always ask if they think the extra $10 will fit in their budget.

It is much easier for me to start low and increase the benefit amount than to start high and then to come down if it is too much for them.

I know, everyone disagrees with that. Believe me, it works a whole lot better that way.

Call me and I can explain it in greater detail, 573.544.4091.

 

[droberts]

That was the first Fe policy that I have written in over 7 years. I just walked into that one. The insured had just received a letter from his group decreasing term that dropped to $5000. And premium over 100 per month. I saved he and his wife about 40 per month each on medsup. It was an easy sell.

 

[Frank Stastny]

That was the first Fe policy that I have written in over 7 years. I just walked into that one. The insured had just received a letter from his group decreasing term that dropped to $5000. And premium over 100 per month. I saved he and his wife about 40 per month each on medsup. It was an easy sell.

When this job works it's almost like having a license to steal.