Selling to seniors via video conferencing

The unaddressed truth behind Covid-19 is that until we get a vaccine, those of us who have an increased risk of serious health problems are going to need to remain socially distant even after the spike subsides.  While a therapy for the virus could be found as early as June, a vaccine is much further away, with most experts looking at the end of 2020.

Adjusting to the times

For a variety of reasons, many of you prefer to sell face to face, and right now you can’t, for the safety of yourself and your clients.

You are left with one of three choices:

  • Stop selling
  • Sell over the phone
  • Sell over video

Why Video Conferencing

Seniors are not as tech-illiterate as many people think.  In a study done by Amwell Health Solutions, data showed that 45% of American seniors have participated in video calls using FaceTime, Skype, and/or Google Hangout.  Some seniors are even catching up to the new Zoom movement, using it to talk to their family and friends.

73% of seniors claim that faster health related services, such as insurance consultation, are the driving reason for their willingness to use video conferencing.  Seniors have the will to participate, you just have to add this to your toolkit.

While calling could get the job done, you are missing an important layer – the visual cues.  With phone calls we miss 50% of the conversation because you can’t see how the person you are talking to is responding.  Video conferencing eliminates that limitation.

How do you do it?

So, how do you get seniors on the screen, not just on the phone?  The first secret is that you have to make it easy.  Best practice is to just have them click on a link you emailed them.  You’ll probably need to include instructions on how to find the link, but the more simple you make the process, the more success you will have.

Ask the senior if they have used to using Hangouts, FaceTime or Skype.  These popular systems are the most common, and you should adapt to their preferences.  By adapting to their preference, the success rate of your calls will be significantly higher.  While this may involve more flexibility on your end, it will undoubtedly benefit you in the long run.

The question “why you are taking meetings this way?” will come up, and be honest with them. Tell them it is to keep them safe in today’s environment.  This expresses that you care about them as a person, not just a client, helping your overall rapport.

In conclusion

By incorporating live video into your sales process you’ll be able to:

  • See your customer’s visual cues
  • Share and go over your quality presentation materials
  • Build a deeper relationship with your customer
  • Make more sales!

And if you need help matching with Medicare insurance prospects, don’t hesitate to give us a call at 866-368-0377.

Should You Buy Leads or Work For Someone Who Provides Them?

How you choose to handle insurance leads is strictly a personal choice. While you may follow the suggestions of others when you first get started, chances are that over time you discover that some methods of getting leads do not work for you. That means you can choose what works and fine-tune those methods as you grow your agency.

Mostly the choice of which way to obtain your Medicare supplement leads has two options: 1) buy your leads directly through a reputable lead generation company or 2) join with or work for someone that offers its agents leads. While the second options sounds good, keep in mind that you do not have control over the leads you receive. You can not control for their quality.

On the other hand, if you buy quality leads from a lead generation company you have complete control over what you want. For instance, you can specify demographics, locations, ages, how many leads you want per day or week, right down to choosing exclusive leads versus shared leads. Ultimately, it is your choice.

To determine what strategy works best for your style, test out both options. There is no doubt you will find what works for you and kick-starts your conversions.

The Difference Between AEP and OEP

Medicare Supplement, Medicare Advantage, Medigap, Open Enrollment, Annual Enrollment.  There are so many buzz words associated with Medicare insurance sales that it is often difficult to differentiate what it all means.  One of the most confusing things to understand as an agent, let alone as a consumer, is what the difference between AEP and OEP is.

We are quickly approaching Annual Enrollment Period (AEP) for Medicare Advantage plans, not to be confused with Open Enrollment Period (OEP) that is correlated with Medicare Supplement plans.  AEP is an 8 week period from October 15th through December 7th where consumers can sign up for Medicare Part D and/or Medicare Advantage plans.  

OEP and Medicare Supplement plans (aka Medigap) is a little more complicated than AEP. OEP is a six month period from the beginning of a consumer’s Part B effective date. This is when a consumer can receive coverage without any health questions being asked.  There are a few circumstances that would begin an OEP including:

  • -Particular circumstances for someone on disability before their 65th birthday
  • -An individual’s 65th birthday
  • -Retirement and therefore loss of current group health plan after the age of 65

Once an individual has timed out of the six month period, they forfeit the opportunity to buy a Medicare Supplement plan without any medical questions being asked.  A consumer can sign up for a Medicare Supplement plan after that six month period, but they will be subject to health questions that could disqualify them for coverage by some insurance companies.

This graphic from boomerbenefits.com easily explains the differences we have explained above.  We recommend using this to help engage and explain the difference with your clients searching for information on their Medicare options.

Medicare insurance is an incredible investment for new agents or agents looking to expand their product portfolio, but it is exactly that; an investment.

Through our research and discoveries with our long term clients, we have found that Medicare consumers are likely to remain on an agent’s books for upwards of 8 years.  Though forming a client book will happen over time, lead services are a great way to guide consumers your way over a local competitor. While the marketing costs may be higher than referrals, the volume of potential clients is immediate, and the return over that consumer lifecycle pays for itself. 

When you are ready to increase your typical Medicare Supplement volume with exclusive leads, give us a call, because together we succeed!

Summer Seasonality of Insurance Consumers

Seasonality affects every industry slightly different. Just like landscaping companies see more volume in warm months vs cold and tax consultants see more volume from December through April, the Insurance industry has a decline in interest from end of November through June.

As seen above, search queries in Google that refer to Health Insurance gradually decline through the end of May. However, in the year over year comparison we can see that searches begin to rise from June and continue to increase through the end of fall. The only inconsistency looks to be around the Labor Day weekend, but volume of searches increase steadily throughout the entire time period regardless.

As seen above in Medicare Insurance queries though Google, we see the same type of pattern as we saw with Health Insurance. Once May is over, search queries begin to rise as consumers start to think about their insurance needs for the following year.

This data shows that there is a significant difference in the volume of consumer leads available to agents from end of February through June, when the insurance industry as a whole sees a lull in activity. However, as an agent, you can profit off of this trend.

Think about it. Most agents take their vacations in the summer when the weather is nice. This leaves less competition for an increasing volume of consumers that you can capitalize on. Take your vacation in January-April, summer is the time to sell!

Medicare Leads That Sound Good Versus Those That Are Actually Good

Real-time Medicare supplement leads are a goldmine for health insurance agents looking to build their business. Thing is, which are the best leads, the ones the stand a good chance of converting? There is so much misinformation floating around it’s hard to know.

Heads up on two tips for you before buying Medicare leads. Most companies that say they sell real-time Medicare leads are really using a plain Jane health insurance form, not one specific to Medicare. However, some companies figure that if a prospective customer is over 65 and fills in such a form, they are looking for a Medicare Supplement and they call those Medicare supplement leads. However, the individual may not want a quote for Medicare, but instead be searching for final expense insurance. False leads like that waste hard earned marketing dollars.

How do you solve this conundrum? Look for a lead generation company that has a dedicated Medicare Supplemental Insurance form.

Medicare Supplement Leads Are Great, but are They Exclusive?

Medicare supplement leads are worth the time and effort because America has an aging society. Be there and be poised on a rapidly growing insurance niche.

Selling Medicare supplements is one area you are going to shine in. However, it is important that not only do you work those leads promptly, efficiently and effectively, but you have quality leads that convert. Fresh, real time leads coming directly and only to you are leads guaranteed to garner you conversions.

While it is true that exclusive Medicare supplement leads can be expensive, they are worth the investment. Smart insurance marketing begins with a sharp eye on the profit line and a plan to achieve those goals. Spending marketing dollars in the right places boosts your bottom line and provides a good ROI. So spending that extra gets you the good leads to work with and close.

Buying leads is best summed up with one word – exclusivity. You want leads exclusively for you and in your chosen territory. Cannot get that from you current lead source? Do not buy those leads. It is your money. Your time. Your marketing skills. You know what you need. Go out there and get it. If a lead generation company cannot or will not guarantee your exclusivity in the geographic area of your choice, go find another company that does that for you.

Do not be fooled by lead generation companies that say they sell exclusive leads and it actually turns out they sell to six or seven other agents. When you say you want exclusive leads, you want those leads to go only to you. That gives you the edge in knowing no other agent has contacted that person first. Of course, it gives you a leading edge in closing a sale as well.

Leery about spending funds to buy exclusive leads? Look at the benefits:
• less competition
• higher sales
• higher profits
• ethical lead generation provider supporting you
• exclusive leads allow you to nurture clients and grow your territory

Medicare supplement leads are great when they are exclusive to you.

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