Medicare Supplement Leads - It's all about finding eligible prospects
In our previous article, How to Get Started in Medicare Sales, we learned the complete steps, and some tips on how to start becoming a successful Medicare sales agent. Now that you are chock-full of knowledge and training, it's time to get potential clients. In today's article, we will talk about the strategy for generating Medicare Supplement Leads.
What is Lead Generation?
Lead generation is the process of attracting strangers and prospects to your business who have shown interest in your product or service. Your ultimate goal is to turn these prospects into a customer.
Two Types of Lead Generation
Inbound Lead Generation - It is also called "Permission lead generation". The prospect decides when or where they interact with your message. Inbound lead generation is all about search engines and social media. The prospect comes to you because they're interested in your content. Inbound lead generation can be a big challenge. So create engaging, entertaining, and educational content that makes you stand out from the crowd.
Outbound Lead Generation - Also known as "Interruption lead generation". Outbound lead generation is a way to connect with potential customers who may not know anything about your products. It is the marketer who will choose the time and place of interaction.
In the Medicare Sales world, Medicare leads for agents are the lifeblood of the business. Finding the right lead generation system will help you get interested clients.
What are the ways in generating qualified leads?
Below are some helpful strategies and methods for generating your Medicare leads
Generate leads using Facebook. Facebook can be a powerful tool in this type of business. You can increase your audience by interacting with them and educating them about what Medicare plan you can offer, and how you can help them with their enrollment.
Take advantage of your Internet by running Facebook campaigns and your own Facebook ads. This method can help independent agents, as well as established companies, to maximize their online presence.
Network with other health insurance agents that don't offer Medicare. These are industries that work with seniors but they don't compete with you and don't offer Medicare plans. An example includes retirement plan specialists and investment specialists. If you are on good terms with them, you can make an agreement to handle their existing leads. The only real thing is that you have to say what you can put on the table for them in exchange for being under their roof. Try to find other agents that want to provide the service to their clients, but don't want to do it themselves. You'll find some agents do not want a commission split, they just want to know that their clients are being taken care of.
Host some events at senior centers. Focus on hosting some events or other community activities for seniors. This is a traditional, reliable, and effective way to establish a good relationship with them over time. This could make them potential participants in Medicare programs later on. Some senior centers will charge a fee for this, and others will allow you to do it for free. Your main concern should be building a relationship with the staff and volunteers who work there.
Building and maintaining your own website. This strategy can help you promote and brand yourself. A well-designed website and content can attract potential clients. State on your website what benefits you can provide and what you can do for your prospective client. Update your website on a regular basis. Websites and social media platforms are one of the largest channels to grow your prospect leads. If you are new, don't spend a lot of time on your website. You'll build get more clients in the beginning by focussing on other marketing techniques.
Direct Mail. Reach your specific target market with a personalized business response card or direct mail. Between 80 and 90 percent of direct mails are opened, while only 20 to 30 percent of promotional email marketing are opened.
Social Media Presence. Consistent, high-quality content can act as a magnet for generating leads. Provide entertaining and educational information on your social media platform for you to build credibility with your audience.
Video Marketing. Record how you talk about Medicare programs and how they can help them, and share them in a video format. Turn it into a short, targeted video with relevant information.
Blog and Article writing. There are endless topics to write about in the insurance marketplace for seniors. Think about the possible current questions that these customers might ask you and answer them in your blog or article.
Send Emails. This may not be your main source of leads, but it can help you generate one. Make sure that the information in your email is relevant and valuable. Use large fonts that are easy for people with vision difficulties to read. You'll need to make sure you have an opt-out process to remain compliant with Medicare rules.
Client Referrals. Word of mouth is still one of the best ways to generate leads. For this reason, it's important to establish a good relationship with your clients. Be sure to keep in touch.
Telemarketing. You need to be very careful with this one. If you are selling Medicare Advantage or Prescription Drug Plans, Telemarketing is "off limits". Also, starting in 2022, all phone calls must be recorded. Most agents are shying away from telemarketing, but with the advancement of current technology, such as the Internet, smartphones, and other electronic communications, the rate of telemarketing it's still a viable and cost-effective way to generate leads, sell and close deals. If you're not sure enough about your phone skills, you might consider hiring a telephone salesman who can make calls and receive calls for you. If you are a new agent, you should stay away from telemarketing because it can get you into trouble very quickly if done incorrectly.
Live Transfer Medicare Leads. These are advertised as pre-screened and well-qualified leads. In theory, only interested people will be transferred to you, but you'll also find that some leads didn't understand why they sent in their form or what you wanted to talk with them about. Regardless, due to compliance, you'll need to know exactly what mailer or advertisement was used to entice the client to call or mail in a response form, because you are responsible for the lead source, even if you bought the lead.
Conduct online events and live Webinars. During this pandemic, a lot is learned from conducting webinars. Online events and webinars can protect seniors from getting sick when going outside. Most people are busy, so keep your webinars short but relevant. You may discuss your product offerings, product requirements, prescription drug plans, private plans, and other related information to Medicare.
Print Advertising. There are publications that are niche specific. IF you can find a publication that specializes in the senior market, print advertising such as church newsletters, community newsletters, and the like can be helpful to get the word out. Remember, that seniors often still read printed newspapers, so local newspapers are a great place to start.
Leads Stands/Informational Booklets. These are generally brochure holders that you can leave in a pharmacy. Talk with one of your carriers or FMO on how to make good lead stands using cost-effective techniques. You'll need to find a place to leave your stand, and check it regularly for lead cards.
Purchasing of leads. This will cost you money but this is an excellent solution for quick lead list development. Purchasing internet leads can either be shared or exclusive. Shared leads can be less expensive but they can be sold to 10-20 different agents. You'll have to be the first or second person to call, and the lead can get frustrated because they are receiving a lot of calls from different agents. Nevertheless, the lists that you purchase will make a great lead source, and the closing rates when making calls to these leads is high.
Directory Leads. Sites such as CertifiedMedicareAgents.com can have a higher level of traffic than your own site. Interested parties come to the site and read about different agents. The prospect then decides who they want to reach out to. Some sites charge an annual fee, and some charge per lead. This site is a hybrid site where you can list for free on the Bronze level, and pay a higher per-lead cost, or you can list for a fee, and pay a lower per-lead cost. The nice thing about this site is that you have the opportunity to read the note that the prospect wrote before you decide to pay.
In order to figure out what works best for you, you have to experiment and test several techniques. What might work for others might not work for you. Combine inbound and outbound lead generation strategies to maximize your effectiveness. Proactively find your clients while maintaining your online presence. Maximize the use of your content or blog. Always keep up to date with new technologies, such as CRMs and automated email systems. Always be on the lookout for new online content ideas. And lastly, don't forget to ask for positive reviews from your satisfied and happy clients online. This is an easier way to let people believe that you are an expert in this field.
