Medicare Supplement Sales Leads
Medicare Supplement Sales Leads can be generated in a few different ways. The main methods used not only by brokers but, agents and insurance companies are direct mail, online leads and seminars. There is not a best method or program out there. Working Medicare supplement sales leads is hard work regardless of the lead type. It is important to determine the underwriting requirements for the state(s) you plan to sell in. Given that supplements are standardized insurance products, it is important to offer the lowest cost plans available in that area. The key with any program is not only having an efficient process but sticking with it. Having said that, lets take a look at the pros as well as the cons of three of the more popular methods:
Direct Mail-
Direct mail marketing is one of the older Medicare Supplement sales lead generation methods. The major concerns with direct mail is getting a good response to the mailer and being able to set an appointment with the people that do respond. A good mail house will send out a 1,000 mailer for about $420. Response rates range from .5% to 6% depending on timming, demographics and the actual mail piece. The lower the lower the response, the higher your cost per lead will be. The other challenge is getting an appointment from the cards that come back. People are not going to say “come on over” when you call them. It takes great persistence and dedication to set appointment with a high percentage of your responder cards. A 50% appointment rate would be considered a tremendous success.
Online Leads-
online Medicare sales leads are a great way to generate a number of leads quickly and at a low cost. The challenge is finding a lead aggregator that can deliver the volume of leads you want. Lead quality is always a concern as many leads will not be useful. Companies will promote exclusive online leads at a high cost but most successful online sales agents use shared leads to control their lead budget.
Seminars-
Seminars are a great way to not only meet new clients but also to write Medicare supplement business. It can be costly and challenging to get people in the seats however. It usually makes sense to work with an insurance company when putting on seminars. Many will help offset costs associates with advertising and can register the event for you. A series of well planned and executed seminars can result in a number of new high quality clients.
Crowe and Associates offers a free Medicare lead program to our agents. Commission is paid directly from the carrier to the agent without any reduction of the street level commission. In fact, We are looking for new agents in a number of states and territories. Call or email us to see what is available in your area.
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