I know a lot of agents still do direct mail and it probably is the most effective and cost-effective means and getting leads and getting in front of Srs, but I am wondering if agents are successful selling Med Supps and Med Advantage using other types of marketing. How about doing seminars at senior housing facilities, networking with financial advisors, buying internet leads, telemarketing and using an agent website? If you have designed an agent website, are you drawing traffic to it by blogging, or buying google ads? What seems to be most cost effective these days? What seems to be a reasonable cost per acquisition? It seems to me, that if I can keep my cost per acquisition under $100/sale, that is pretty reasonable, given the amounts paid on first year commissions and renewals for both types of plans.
What Different Types of Marketing is Most Successful
- Thread starter timeflies
- Start date
Just do the exact opposite of whatever I'm doing. That will work for you. (sorry, venting on a Monday).
Although seriously I think a combination of everything you stated is probably the best way to go.
Although seriously I think a combination of everything you stated is probably the best way to go.
ALL of them are successful.
You have to find the one that works best for YOU. Whatever you do , be consistent and commit to for 3-6 months and find what works.
I don't like cold calling or calling leads. So for me, DM and Telemarketing isn't a good fit.
I am great at networking and spent yesterday afternoon at a Tea Party (most of the women had on hats!) hosted by a networking partner and was introduced to 125 women as "the girl who I send all my clients to for health insurance and medicare". I probably had 30 clients in the room, too. Three emails so far this morning. That works for me.
A few years ago, I spent $1K on internet leads. Sold 1 policy. FAIL.
I'm not an expert on this, but I think the average cost is FYC for leads, DM, etc. Hoping someone who has been successful will chime in here.
Find what works for you.
You have to find the one that works best for YOU. Whatever you do , be consistent and commit to for 3-6 months and find what works.
I don't like cold calling or calling leads. So for me, DM and Telemarketing isn't a good fit.
I am great at networking and spent yesterday afternoon at a Tea Party (most of the women had on hats!) hosted by a networking partner and was introduced to 125 women as "the girl who I send all my clients to for health insurance and medicare". I probably had 30 clients in the room, too. Three emails so far this morning. That works for me.
A few years ago, I spent $1K on internet leads. Sold 1 policy. FAIL.
I'm not an expert on this, but I think the average cost is FYC for leads, DM, etc. Hoping someone who has been successful will chime in here.
Find what works for you.
For the most part, all of them are successful or rather can be successful for you. However, it is really about which one works for you.
The other question I feel that would probably fit better is how long until you see your ROI.
For instance, DM takes a bit to trickle in so the ROI isn't instant and the leads aren't instant. Where Telemarketing could start coming in as early as the next day after the order and you could start selling right away. Just as an example.
It also depends on how much resource a person has on where they should start. The person that has $100/month to spend on "advertising" isn't going to start in the same place as the person that can do $2,000 a month.
The other question I feel that would probably fit better is how long until you see your ROI.
For instance, DM takes a bit to trickle in so the ROI isn't instant and the leads aren't instant. Where Telemarketing could start coming in as early as the next day after the order and you could start selling right away. Just as an example.
It also depends on how much resource a person has on where they should start. The person that has $100/month to spend on "advertising" isn't going to start in the same place as the person that can do $2,000 a month.
- 1,432
Resources... That's huge.
Your competitor may be able to break even or go negative in FYC. They might be happy to wait for the renewal to start making a profit.
If they can and you can't, you may not be able to copy their strategy.
- 1,432
Yep! Listen up newbies!
This is what it takes. It might look like a job from the outside, but it's a business. You wouldn't (or at least shouldn't) start a restaurant and expect to have a positive cash flow the first month or the first quarter.
I worked two part-time jobs and was on call with a temp service when I went independent.
I intentionally refused to take a full time position. It was easier and less risky to quit one job at a time instead of asking to have my hours reduced.
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