Individual Health Insurance Marketing

[Crabcake Johnny]

The states in general cannot control association coverage. And unfortunately judges have upheld that it's the responsiblity of the client to review what they bought during the 10 day free look. If you accept it after the free look bascially you assume all the risks.

http://www.healthcareshopper.com/blog/2006/11/mega_life_beats_another_fraud_case.html

 

[Bob_The_Insurance_Guy]

John P wrote:

"I purposely give up quickly. When I get "call me tomorrow at 2pm" I'll call at at time. If they answer and say "bad time, call me in two more days" I'm done. A couple years ago I'd hang in there. Now I just put a big fat black line through my spreadsheet and move on.

The bottom line is I like this job better when I generate a ton of leads and only work with people who appreciative of my services. Instead of prospects being in control of me, I'm in control:"

John, I agree with you. There are too many people out there who need and want our services. Playing ping pong with those who don't is a waste of time. It's nice to see someone who maintains a sense of humor, when dealing with these people.

My response is: "I can't call you back then, the warden only allows me to use the phone on Mondays." This usually illicits a "What?" response. Then I say, "Yeah, sounds like nothing more than a brush off, doesn't it?"

The truth is, if you walk into someone's office, or call them on the phone when noone else is, you are more likely to get information and build a relationship. I was cold calling one day (a topic that gets bad press - I personally enjoy contacting new people), and called on an Attorney. He told me that his practice had health coverage, but he was not happy with it. The problem being, the only time he felt pain was the one day a month he had to write a check.

I called him back, once every three months. The third time, he told me to come in and talk to him. He has been one of my best clients for the past three years, and I have received a handful of leads from him since.

I didn't send him a postcard, didn't send him a letter. Just picked up the phone, which is free, every three months.

The only other way that I market health insurance, other than door to door or telemarketing, is by using Constant Contact. As long as I stay under my alloted contact number, it's free.

As I said before, I don't buy leads and I don't hire Telemarketers. The reasons have been stated in other forums, by other agents, as to why these two forms don't provide the response you desire.

I also can't stress enough that joining a leads club is an utter waste of time for the Health/Life Agent. The only leads you will get are the Diabetic, or Heart Surgery person. Or, you get someone who has already purchased a plan through the internet, and they want you to explain it to them.

PowerCore and BNI are the two biggies, here in Atlanta. Wasted alot of time, and almost went broke, paying the dues for each club, when I got into the business. I came to the realization that they've already built a relationship with another agent, and THAT agent was getting the healthy leads, and I was getting the "leftovers". You also have to remember, as long as they give me a "lead", it counts for them.

For me, it's a three-prong attack: Telemarketing, Door-to-Door, and Referrals. That way, any business is a 100% profit for me.

One way that has gotten me alot of STM business: I am lead facilitator for a Job Networking Group. These are all unemployed people, who are either on COBRA, or no longer have benefits. That also costs me nothing, and I become a trusted advisor.

Health insurance is a great door opener, but you should never spend too much time, or money, with someone who won't even talk health with you. Move on.

 

[Crabcake Johnny]

Health insurance agents need to realize that at a 20% contract level your average commish is $700 ($3,500 AV.) Just two deals a week is $72,000 a year. Even if it took you eight solid hours a day to get those two deals a week I assure you that other sales professionals are logging in 60 hour weeks and running all over their state for less pay.

 

[J.R.]

My response is: "I can't call you back then, the warden only allows me to use the phone on Mondays." This usually illicits a "What?" response. Then I say, "Yeah, sounds like nothing more than a brush off, doesn't it?"

Nice.....

As I said before, I don't buy leads and I don't hire Telemarketers. The reasons have been stated in other forums, by other agents, as to why these two forms don't provide the response you desire.

Would you be kind enough to elaborate on the cons of hiring telemarketers? Besides having to mass hire telemarketers, I have not had any other issues as of yet.

 

[Bob_The_Insurance_Guy]

It was stated by another agent that no one puts the care into your phone calls better than you. While there are many phenominal telemarketers out there, and I'm sure there are, you are relying on someone else to set the appointment for you. That means that, perhaps, the qualification aspect suffers, or the person being called gets confused that you are coming, since they spoke to someone else, and not you.

Personally, I'm a bit of a control freak. I like to be in complete control, when it comes to prospecting and appointments. If I am on the phone with them, during the initial call, then I can get a feel for their personality, and what their "hot buttons" may be. That way, when I meet them, it isn't the first time they have spoken to me.

Let me ask you a question, would you put more pride into something that has your name on it, or someone else's. If it's the latter, then everyone would be working for someone else, and our industry would not be frought with sole proprietors.

My guess (and maybe I'm taking a leap) is that most of us here got into this business for ourselves, to show our clients and prospects what WE could do for them. What they would get out of hiring US, individually vs. going elsewhere.

 

[J.R.]

It was stated by another agent that no one puts the care into your phone calls better than you. While there are many phenominal telemarketers out there, and I'm sure there are, you are relying on someone else to set the appointment for you.

Well put, but I cannot generate the number of leads I want myself.

That means that, perhaps, the qualification aspect suffers, or the person being called gets confused that you are coming, since they spoke to someone else, and not you.

I only give the option for me to see the client if they want to fill out an application versus fax or the internet, so I am not concerned about them seeing me. I am only concerned about the time/day we set to discuss their options and complete an application if warranted.

Personally, I'm a bit of a control freak. I like to be in complete control, when it comes to prospecting and appointments. If I am on the phone with them, during the initial call, then I can get a feel for their personality, and what their "hot buttons" may be. That way, when I meet them, it isn't the first time they have spoken to me.

I either generate my own leads or follow-up after a telemarking lead to qualify and it has been working well so far.

Let me ask you a question, would you put more pride into something that has your name on it, or someone else's. If it's the latter, then everyone would be working for someone else, and our industry would not be frought with sole proprietors.

Exactly the reason why my telemarketers do not go into to much detail qualifying. The whole job is to generate the minimal level of interest and I take care of the rest. My thought is this, "My telemarketers do not pressure ANYBODY, so if a prospective client has interest I am going to find out what interests them the most and go from there with one simple question." What interests you the most about receiving information from my company regarding the latest health insurance plans? Then I immediately send them information and schedule a follow-up time to go over things with them. Of course, there are a lot more qualifying questions, but this approach simplifies things for everybody involved.

My guess (and maybe I'm taking a leap) is that most of us here got into this business for ourselves, to show our clients and prospects what WE could do for them.

Exactly my thoughts on the approach I currently use to generate leads and keep clients on the books.

 

[Crabcake Johnny]

It was stated by another agent that no one puts the care into your phone calls better than you. While there are many phenominal telemarketers out there, and I'm sure there are, you are relying on someone else to set the appointment for you. That means that, perhaps, the qualification aspect suffers, or the person being called gets confused that you are coming, since they spoke to someone else, and not you.
.

That's a nice theory but I like to work at least 8 leads a day. I get 2 leads per hour when I'm on the phone which means 4 hours a day of marketing which I don't have. I have to farm it out.

Does it matter? I'm now paying telemarketers a flat $12 an hour and they generate 2 leads per hour. I'll take all the exclusive $6 leads anyone wants to throw at me.

 

[Bob_The_Insurance_Guy]

You two make some very convincing arguments.

I will, respectably, agree to disagree.

 

[Crabcake Johnny]

So is my time better spent - 3 or 4 hours a day, trying to find interested prospects or is my time better spent contacting prospects who have already conveyed interest?

 

[Bob_The_Insurance_Guy]

The latter, of course.

But, who determines the level of interest? You, or someone else?

Again, let me repeat, there are a large number of fantastic telemarketers out there.