So you just closed another AEP season. Are you thinking about what could have gone better? Or how you can enhance your senior insurance marketing to get better results selling Medicare year-round? We can help! With these six tips, you can grow your client base and accelerate your senior market sales.
1. Create Self-Generated Leads Through Community-Based Marketing
Community-based marketing is one of the most effective ways to create a continuous flow of prospects and referrals that can generate year-round senior market sales. To strengthen awareness of what you have to offer, potential clients and organizations in your local market must see you as a resource who can provide education and value. You can build credibility in your community by participating in activities with organizations such as a Rotary Club, speaking at a local Chamber of Commerce event, or hosting your own seminar. Whatever your plan of action, you should have a long-term focus and be consistent with your senior insurance marketing. If people see you providing value throughout the year, you’re more likely to be top of mind when they’re looking for insurance solutions.
2. Take Advantage of Your FMO’s Lead Programs
Your Field Management Organization (FMO) has a vested interest in helping you build your book of business, so don’t forget to use it as a resource to reach more prospects and keep your sales momentum going. Besides giving you access to purchase leads at discounted prices, your FMO may offer other lead programs to send prospects your way throughout the year. These include preset appointments, leads generated when customers fill out online quote forms, and leads generated when customers call to request a call-back from a local, licensed agent in their area.
Think about preset appointments for a moment. How much time could you save if you already had the opportunity to meet with a prospect to close a sale rather than trying to create the opportunity yourself? By taking advantage of lead programs such as these, you can have more success as a senior market sales agent or broker.
3. Know Your Product to Master Your Sales Strategy
To better position your product pitches and help clients make an informed decision about their senior market insurance needs, you should have an in-depth knowledge of what you’re offering. This means not just knowing the coverage benefits, but any limitations and exclusions that can affect your customer’s buying decision. You want to position yourself as an expert in your field to maintain trust, so staying up to date with product and compliance trainings can help you get the most out of every sales interaction.
4. Be Keen to Subtle Cues to Maximize Your Cross-Selling
To maximize your cross-selling opportunities, you must listen attentively to pick up on cues that can uncover additional coverage needs. For example, a prospect mentions that she doesn’t see her grandkids often because her adult children live far way. This subtle cue can lead to asking questions such as, “Have you thought about who would take care of you if you had a serious illness? Would it help your family if they had $25,000 to cover your funeral arrangements and any debt you may leave behind, or to pass down to your grandkids to help with their college fund?” These questions can open the door to presenting a long-term care insurance plan, final expense, or other life insurance product that can meet your prospect’s needs and earn you extra commission.
5. Leverage Technology to Close More Sales
Do you have access to Medicare quoting technology that lets you execute quotes for all the senior products you’re licensed to sell in a central tool? Can you compare Part D drug prices with clients in real time? You should if you want greater flexibility to conduct business on the go and deliver a smoother customer experience to improve your senior market sales. This is another area where your FMO can help you be more agile in selling Medicare with access to technology that streamlines the sales process.
6. Seek Support From Your Regional Sales Leader
To get better results selling senior market insurance products year-round, one of your best strategies is to draw from the wealth of knowledge that your regional or territory sales leader has to offer. Whether it’s helping you better understand how to position certain carrier products, improve your community-based marketing, or apply compliant cross-selling techniques, your sales leader’s support can help you maximize time and potentially double or triple your income.
Are you ready for more success with your senior market sales? Excelsior Insurance can help nurture your Medicare marketing strategy, provide ongoing training to improve your sales production year-round, and offer solutions to help you compliantly cross-sell more senior market products. Engage with Excelsior today!