T65 Direct Mail Typical response rates

Feb 5, 2019

  1. timeflies
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    timeflies Super Genius

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    I have been relying mainly on referrals for my MAPD sales for the 18 months or so. Before that I focused on DSNP sales and bought DSNP leads. I am now planning on buying some T65 leads. I know some agents say you have to start marketing to those folks at least 6 months before their 65th birthday. I would like to get some feedback from agents that buy T65 leads and that focus primarily on MAPD market, what is your typical response rate and closing rate for every 1,000 piece mail drop? Some told me the other day that agents were average approx 8 sales for every 1,000 drop. I thought that seemed high given the number of agents that market to T65. I can get a discounted rate from my upline of 1,000 pieces for $300 so it won't be hard to make money by doing the mail drops.
     
  2. Chazm
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    If you mail 5-7 months out you may get 2% response.

    So 1k pieces is 20 cards. 20 cards you may get a hold of 10-12 people. Set maybe 6 appts and sell 3-4.
    I doubt 8 sales but anything is possible.

    I get just over 50 cards back a month and my goal is 10 sales from those cards alone.
     
    Chazm, Feb 5, 2019
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  3. DS4
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    That would be incredible.
     
    DS4, Feb 5, 2019
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  4. timeflies
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    timeflies Super Genius

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    Thanks Chasm. How many pieces are you mailing to get 50 cards back and result in 10 sales?
     
  5. Chazm
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    Around 2k. Cost me about $800 and easily make more than that. I lost my TM late last year though and I hate calling now so I’m switching it up to do educational events. I’ve always talked about it but my dates are set to start in March now.
     
    Chazm, Feb 5, 2019
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  6. timeflies
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    timeflies Super Genius

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    Yep. That is why I stopped calling folks. They sent in a reply card that clearly states that an agent will call, but when the agent calls they get angry. Calling the leads isn't as bad as cold calling, but it is a lot of work to keep it up on a regular basis. Are you expecting a decent # of seniors will show up to the seminars? Isn't is a lot more expensive to advertise and event/events?
     
  7. Chazm
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    I’m actually fine once I get on the phone and start calling. No one got angry that I called today. I called 12 leads (lazy) got ahold of about half and set 2. I could of set 2 more but one had tricare and one was still working with insurance. I don’t waste my time on those appts.

    I’m hoping 10-15 show up for each seminar. It’s going to cost me $400 more per month
     
    Chazm, Feb 5, 2019
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  8. timeflies
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    timeflies Super Genius

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    I have just about 460 MAPD members with renewals on almost 400. Its hard to get motivated during the winter especially after a very hectic AEP, but I need to do something. Without marketing, I only see 4-5 people/month. Those are referrals from my book of business, but they are usually age ins. Maybe I should start marketing final expense instead. Do you have a marketing agency setting up the events and is the event for T65 age ins?
     
  9. Stephen
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    You should consider meeting with the folks that have employer insurance and help them get online and sign up for Part A. I do this and almost all of my clients are folks that I helped do this 2 years ago.
     
    Stephen, Feb 5, 2019
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