If you are a Medicare agent with a large book of business you may wonder where to focus; existing clients vs new business. We will go over the benefits of focusing on each one and why you should put effort into both. Each one adds to the bottom line of your business and help it keep going.
Existing clients (Medicare Book of Business)
In general, Medicare clients want to build a long term relationships with their Medicare agent. Clients want to feel confident in the person who provides guidance on their healthcare coverage. They need to know they have someone to turn to for questions and concerns who has their best interest at heart.
It is important to contact them throughout the year to ensure they are happy with their coverage. It is especially important during the AEP to compare current coverage to new options. Existing clients bring in a steady stream of income as well as the potential for new business. These clients often help bring in new clients when they recommend their agent to family and friends.
Learn more about maintaining your Medicare book of business
New business
The importance of expanding your Medicare book is obvious. If you want to keep your business growing and generate more income, you need to add new clients. There are many ways to find new clients including through recommendations of existing clients. Our agents have access to some great lead companies as well as a seminar sales program that has been proven to be very successful. Another good way to meet new prospects is by setting up a table at local events and providing free Medicare guidance to those who ask for it. This to get their name out there as trusted a source for information.
Learn how to get more Medicare referrals
Effective marketing strategies as well as community outreach help establish you as a trusted resource. I tis alwyas importnat to follow all permission to contact rules as well as any CMS marketing guidelines before hosting any event or initiating contact with potential clients.
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Existing clients vs. new business
Please note; successful agents put in the effort required to maintain their books as well as to add new clients to it. Once your book reaches a certain level, it may be wise to hire office staff and adjust your stategy to ensure both old and new clients receive the service they deserve. Setting both long and short-term goals for your agency will help keep you on track.
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