Medicare agents’ business plan
If you are considering Medicare sales, you should take a look at the Medicare agents’ business plan for a few suggestions to help you get started.
Decide which market you want to focus on
Although anyone who is eligible for Medicare is a potential client, it is best to focus on a particular group to create an effective business plan when you are getting started. You should decide if you are going to concentrate your efforts on people turning 65 or perhaps you would rather focus on people who are already 65 and may have a SEP available to them.
Do you want to focus on selling a particular plan type, Medicare Supplement and Prescription Drug plans or Medicare Advantage plans? It is a good idea to be able to offer all plan types available. Because each client has different healthcare needs.
Do you plan to serve only people within a certain radius? Do you want to see people in-person or are you planning on strictly selling over the phone and online? If you plan to serve multiple sates, you will need to maintain the proper licensing for each state.
Set goals for yourself when making a business plan
Make sure you set some attainable goals for yourself. That way you will fell encouraged each time you reach a milestone. Make both long- and short-term goals; like enrolling 10 members each month or making 100 sales in a year and so on. Whatever your goals are, they provide something tangible to work towards.
Be prepared to spend some money to get yourself set up
Starting any business comes with a cost. You will need to have some money set aside to get yourself started. Some of the basic things you need are business cards, a decent computer and printer other office supplies.
If you plan to work outside your home, you will need to pay rent. You need licenses in any state you plan to sell in. Selling in multiple states will require multiple licenses. Some carriers charge appointment fees for out of state appointments. A website is a great tool to have but it comes with a small start-up cost. Agents must have E& O insurance in place before they can sell anything, and the list goes on.
Marketing & Leads
When you are setting up a business plan, decide how to reach your intended market. You need to find a lead source that works well for you. Be prepared to try more than one source before you find what works best for you. When looking for leads, agents sometimes need to be creative. There are many ways to get leads and they will not all work well for everyone. Each person has their own strengths and weaknesses.
Some examples of leads include mailers, online leads with the use of Facebook, a website or other service, live transfer leads or other tele sales leads. There are also educational or sales events and participation in community events just to name a few. It is always a good idea to have plenty of business cards to pass out or leave in areas where permissible.
Referrals are free leads
Get out in the public and meet as many people as you can. Build a network of local professionals you can send referrals to each other and help grow everyone’s business. It is ok to ask your clients for referrals. If you provide good service to them, they will be happy to tell their friends and family about your service.
If you do not make yourself visible to the public, they have no way of knowing about your business; so, get out there and meet people. Put business cards wherever you are allowed to and make friends with local pharmacists, doctors office staff and senior center managers.
Medicare agents’ business plan – Make sure people remember you
Because there are many Medicare agents out there., you have to set yourself apart from the competition. Visibility is key, we cannot stress this enough. Take the time to learn the products you are offering as well as the needs of each individual. Knowledgeable agents are a valuable asset to our communities and word does get around when people get good advice. Thousands of people turn 65 every day and they will need help choosing the proper healthcare coverage.
Do you want to offer other products as part of your business plan
If you are licensed to sell other products, you may want to consider cross-selling opportunities. You can offer additional products that are a good fit for your clients, such as life insurance, ancillary health products like dental, vision or LTC. It is natural for clients who trust your advice to request help with other insurance products.
Find a support system
It is a great idea work with a upline that provides the back-office support, training and tools you need to get you where you want to go,