Medicare field marketing organization
In this post, we discuss the advantages for downline agents to work with a Medicare field marketing organization.
What is a Medicare Field Marketing Organization (FMO)
An FMO is a specialized entity that works with both insurance carriers and brokers to educate, promote, and distribute Medicare plans. FMOs act as go-betweens for insurance carriers and independent insurance agents. They provide support and resources to improve the marketing and enrollment process.
They actively recruit independent insurance agents to join their downline and grow their agency. FMOs are always looking for knowledgeable, committed agents who enjoy providing great service to their clients.
Once an agent is onboarded, the FMO should provide them with the resources they need to be successful in the Medicare market.
See what a great FMO can provide
What does a Medicare field marketing organization do:
- An FMO establishes contracts with multiple insurance carriers. This allows agents to represent a broad range of Medicare plan options. In turn, this provides beneficiaries a better selection of plans to choose from, based on their needs and preferences.
- Smart FMOs will invest their time in their downline agents. They must provide training to ensure that agents are able to understand and give guidance beneficiaries who are interested in the product they are offering. Training can include in-person events, webinars, zoom meetings or any other way that gives the agents up-to-date plan/industry information.
- Assist agents with the enrollment process. This is done by offering invaluable technology platforms and other resources to help streamline the process. These platforms save time and allow agents to focus on providing the best possible plan options and service to their clients.
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What else can a Medicare field marketing organization provide agents:
1. Provide both sales support and assistance with marketing. They can direct agents on where to get marketing materials, applications and other things such as; compliant call scripts, marketing support and strategies for lead generation.
2. Help choose the best carriers for each agent to offer based on both location and product type. Provide agents with information on new products available in their local market.
3. Make sure downline agents are updated on any new regulations, compliance issues or industry standards.
4. Provide guidance for agents who want to expand their business by boosting sales or recruiting downline agents. It is always good to recognize agents who continue to do well or those that are improving. Motivation is a key component in the FMO agent relationship.
5. One of the most important ways an FMO can show support to their downline team is by addressing any concerns or questions they have in a timely manner. Do not ignore an agent who calls in for support. Many agents request releases due to a lack or training or their up-line not addressing their concerns.
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A great Medicare field marketing organization will:
Create a collaborative and mutually beneficial relationship with their downline agents. They provide the resources that empower agents to effectively market and sell Medicare plans. This kind of relationship benefits both the agents and the Medicare beneficiaries they serve.
Provide the support downline agents need to thrive in the competitive Medicare market. When an FMO does it’s job correctly, they represent knowledgeable, compliant dedicated agents and entire Medicare system benefits. this incudes everyone from the beneficiaries to the carriers.