Medicare supplements are a necessary purchase for today’s senior citizens. The key to becoming a successful agent is to obtain quality Medicare supplement lead information. Statistics say that 80% of leads never convert into sales.
Successfully selling Medicare supplements requires understanding that selling this product is different than any other form of insurance. There are two choices a senior citizen can make regarding health insurance.
They may select original Medicare with a Medicare supplement and a Part D drug plan. Their second option is to select a Medicare Advantage plan. We are going to cover the sale of Medicare supplements in this article.
When you sell Medicare supplements, you are not selling a Medicare product. Instead, you are providing the client with an insurance policy through a private insurance company. This policy fills the gaps in the Medicare Program.
We will show you how to get solid leads that provide a high rate of return, providing you with a lucrative insurance sales business.
Network With Seniors
Networking is a back-to-the-basics way of generating Medicare leads. Today’s senior citizen is active, and there are numerous places you will be able to mix and mingle with the senior crowd, including:
- Retirement planning events
- Fitness and health centers
- Restaurants that host regular senior breakfast or lunch gatherings
- Insurance events
- Empty nester events
- Community groups
- 55+ senior living communities
The key is to build a relationship by focusing your presentation on awareness and education. As you build their trust, you then move into selling them a supplement.
As you gain their respect and trust, you may receive additional leads or referrals. Word of mouth is the best way to generate business. The important thing is to be prepared and engaged with your potential clients.
Bring educational resources, collect their contact information and follow up on leads. Then, stay in contact with them regularly to make sure all their needs are being met.
If you make a regular effort to build your networking calendar, this will become one of your main lead generation strategies.
Direct Mail Cards
One popular lead generation strategy is to purchase leads that receive their initial contact by direct mail. The includes a business reply card.
You pay for the direct mail card. The problem is you are paying for the mailers upfront, and it is 3-4 weeks before you begin receiving replies.
This is because the mailer goes out to the lead. That person then has to return a card providing their contact information. This includes their address, phone number.
The person must also agree on that card to receive additional information. This is essentially a cold-call contact, and you are hoping they show an interest and provide their information.
Many consider these leads solid. That is because the recipient shows an interest by reading the card and then mailing back the card. They would not perform these steps if they were not interested.
You have no control over the length of time it takes the card to process through the mail. You also have no control over how long a person leaves the card sitting on a table before completing and mailing their information. During that time, they may reconsider or meet with another agent to purchase insurance.
Direct mail responses are diminishing and slowly becoming an antiquated method of communication. Instead, people today want a more instant response to their needs.
How to Generate Leads Through Cross-Selling
One of the best ways to generate leads is through cross-selling. For example, if you are selling final expense insurance, you have clients who already trust you and are possible Medicare Supplement sale opportunities.
Cross-selling is something you can use with any existing client. Whatever type of insurance you have sold to a client, life insurance, Medicare Supplement insurance, final expense insurance, or health insurance, you can cross-sell any other product to that person.
Senior citizens are cautious about trusting strangers. Once you gain their trust as their agent, it will be easier to sell them additional plans they will benefit from. If you don’t provide them with solid customer service and advise them of benefits they may be missing by not having additional insurance, they will go to someone who offers what they need.
Keep your clients informed, and even if they don’t buy today, they may contact you next month or next year when they decide they do need supplemental insurance.
How to Get Good Leads From Facebook
This is a huge marketing area that is being overlooked. The world is turning to social media and technology to keep people informed. The Facebook lead platform is an excellent way to generate quality leads at extremely affordable rates.
When you receive a Facebook lead for Medicare supplements, you receive an exclusive high-quality and high-intent lead. There is also the option of automatically scheduling an appointment using your online calendar, which streamlines the sale process. You obtain that lead while the idea of purchasing Medicare supplements is on the prospect’s mind.
People who draw social security are both over and under 65 years of age. However, many drawing Social Security Disability Income (SSDI) and Supplemental Security Income are under 65 and are not marketed to the degree that the over 65 group is.
Persons over 50 years of age are the second largest demographic on Facebook. So knowing how to tap into this social media marketing platform to generate Medicare supplement leads is ideal. If you target ads correctly, you can bring the cost per lead down and trigger high engagement rates.
How to Generate Leads
There are currently about 54 million Medicare beneficiaries, but that is anticipated to increase to more than 80 million by 2030. In addition, the baby-boom generation of those born between 1946 and 1964 are aging into Medicare eligibility.
Those baby boomers have a longer lifespan than their predecessors. This increases the demand for Medicare supplement insurance. As a result, agents in this market have a higher close rate than those selling other forms of insurance.
When obtaining Medicare supplement leads, make sure you are receiving quality information. Quality over quantity equals higher return rates. In addition, you need to obtain leads that are exclusive to you as an agent or exclusive to your insurance company.
If you are not purchasing leads, you are spending a lot of time generating your own leads. Taking the time to generate leads gives less time to be closing sales. Leads can be found in a variety of areas:
- Live transfer Medicare leads—once the call is transferred to an insurance agent, that lead is never given to another agent again.
- Pay Per Call Medicare Leads—you only pay for calls transferred to you or your agents.
- Facebook groups dedicated to Medicare, senior citizen activities, and health topics generate leads.
- Turning 65 Database—purchase lists and databases of persons who are turning 65
- Make sure your website has high-quality content to draw readers/potential buyers.
- Network with senior citizens to generate leads
- Use direct mail cards to generate leads
- Purchase pre-made call lists—these leads have not been screened, and you will get many leads that are not interested.
- Email marketing
- Exchange leads with other agents who sell a different type of insurance
- Telemarketing using a quality lead list
- Medicare leads list—be aware of companies that sell lists to multiple agents rather than providing exclusive leads.
- Work with leads for those who are approaching 65 in the next 4-5 years to get establish yourself as their agent.
- Ask existing clients for referrals.
While spending time generating your own leads is easy on the budget, it is prohibitive to a lucrative career selling insurance. In addition, generating leads does not make you money; closing sales does. That is why purchasing exclusive sales leads that have already been pre-screened for interest is the way to go from a profitable job to a lucrative career.
Purchasing Insurance Leads
If you seek a lucrative career in selling insurance, you need a steady supply of quality leads. In addition, purchasing leads is the best way to accelerate your sales, which provides the following benefits:
- Buying leads is instant—they are generated through content marketing, paid ads, webinars, and social media posts.
- Insurance leads you purchase are pre-qualified—they are people ready to buy
- Solid Return on Investment (ROI)
- Saves time on generating your own leads
- Information is accurate—if contact information from Final Expense Sales Leads is not accurate, you receive a lead replacement.
- Region-specific—you receive leads directed to the area where you practice
- You can respond quickly to the interested consumer
The faster you receive your lead contact information and engage with the potential client, the better chance you have of closing the sale. This is because when you contact them, they are already thinking about purchasing Medicare supplements.
Ready to Purchase Medicare Supplement Leads?
Now you know the key to obtaining a quality Medicare supplement lead is to purchase from a company that provides fresh and exclusive information. Final Expense Sales Leads has been in business for more than 15 years.
When you purchase leads for Medicare supplements from Final Expense Sales Leads, your order is delivered to you via email and portal. These exclusive leads have a high closing ratio to move your business ahead. In addition, check out our agent discounts and resources for information on continuing education, licensing courses, as well as business and technology services.