There are several ways to get more Medicare referrals. Medicare referrals are a fantastic, no cost way to grow your book of business. Once agents are established as a community resource may rely solely on referrals and do not have to spend money on other lead sources.
Build good relationships with your existing clients
Smart agents make sure they are available to answer any questions or concerns their clients have. This goes a long way to build client relationships. The most important thing you can do as an agent is to listen to your clients to understand their coverage needs and wants. Once they know you have their best interest at heart and provide good service, they are happy to recommend you to their friends and family.
It is important to stay in contact with your clients. This way they remember you are there for them and they do not ask another agent for assistance.
Contacting every client before AEP is another way that helps you stay in contact and also allows you to update their information before it is time to choose a plan for the coming year.
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When a potential client contacts you be sure to Collect their contact information; email and phone to help you stay in contact if they give you permission to do so. This way agents can send out informational emails or contact a client if needed. I some instances, agents can use phone numbers to contact clients via text message, if the prospect gives permission and you provide the option to opt out. Texts can be a quick and easy way to provide general information to a large number of clients at once.
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Online presence
A strong online presence is essential in today’s digital age. Agents should create a business profile on social media. Once you create the profile, it is imperative to update the platform with information potential clients may find helpful. General information on Medicare choices and answers to common questions are good ways to engage readers and encourage repeat visits to your platform. An online presence has the capability of reaching a very large audience and presents you as knowledgeable resource in the field of Medicare.
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Educational workshops
Hosting free Medicare workshops or webinars helps educate the community about coverage options and changes in Medicare. When you provide valuable information to those who need help, you gain credibility as a valuable resource. Those who attend may refer friends or family to you for guidance when they need help with their Medicare options.
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Referral Incentives
Be sure to thank those who refer new clients to you with a small gift. Please note; incentives can include a gift card or anything appropriate with a value of not more than $15 that cannot be easily converted into cash. It is extremely important to be complaint when you offer a referral gift. Acknowledging and appreciating referrals encourages your existing clients to actively promote your business.
For referrals that you receive from other agents or professionals (ACA agents, P&C agents, other Medicare agents), referral gifts of up to $100 per sale is allowable. Remember to send the payment so they refer more clients to you. Please note in most cases, financial planners cannot accept the referral gift.
If you have a client that is happy with the service you provide, you can ask them for referrals if you do it in a way that you are both comfortable with.
Collaborate with Local Businesses
Build relationships with local businesses that serve the senior population. Think about making connections with senior centers, fitness clubs, retirement communities or other local services. These relationships can be mutually beneficial, as you you can refer clients to one another.
Introduce yourself to local healthcare providers, clinics or care facilities. Once they know you and the service you provide, they may form a partnership with you. Having a good rapport with these providers opens doors to a new stream of leads.
Consider volunteering at local healthcare events and workshops to connect with providers and potential clients. Other professionals can refer people who need assistance with Medicare coverage. This also helps establish you as a reliable resource for Medicare coverage needs.
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Stay up to date on Medicare plans and regulations
Agents need to stay educated on all available plan options as well as compliance rules. Be sure to attend product training sessions, workshops and conferences. Broker managers and other agents are both sources of potential referrals if they have a beneficiary who needs assistance in your area. A well informed and well-known agent is more likely to attract referrals from clients and other professionals.
A large referral network is a great way for MEdicare agents to achieve long-term success. Focusing on client satisfaction and following the suggestions above can help agents build a successful business that brings in new clients and more opportunities.
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