Scroll down for a discussion on Medicare Advantage Marketing within the Senior Insurance Forum.
With the new regulations and restrictions on marketing Medicare advantage products, what are the best ways to generate a good return on your investment?
What ...
With the new regulations and restrictions on marketing Medicare advantage products, what are the best ways to generate a good return on your investment?
What are some community marketing strategies?
What is the best way to market?
I am not into cold-calling on T65 for medicare supplements. What are some other strategies specifically for the senior market?
With the new regulations and restrictions on marketing Medicare advantage products, what are the best ways to generate a good return on your investment?
What are some community marketing strategies?
What is the best way to market?
I am not into cold-calling on T65 for medicare supplements. What are some other strategies specifically for the senior market?
There is one option, but if you choose this one, I hope you have some serious cash saved up. Seminar marketing. Keep in mind that you will have to send out about 1500 invites at about $.40 a piece, spend hours calling all of your invites to confirm they received your invite and try to book a show, buy the meals at a cost of $10-15 per person and then try to set appointments. These campaigns usually last around five weeks. A good seminar will have around 30 seniors attend, so be prepared to write a check for $300-$450 for the meal, and hope that you recoup at least that much money that week.
If you have any more specific questions on this, drop me a line.
Bottom line, though is that if you don't get on the phone, even in this marketing strategy, you will be out of the business in under three months.
Edited to add: This marketing strategy is not advised for MA plans. Any other senior product, yes, but I would avoid MA due to the serious restrictions placed on seminars by CMS. The compliance isn't worth the headache.
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Tim Sipma
Sipma & Associates
515-537-4459 tim.sipma@gmail.com
There is no "This marketing strategy is not advised for MA plans." You may not have a sales seminar for MA plans and serve a meal. This is specifically forbidden.
You are not allowed to cold call for MA plans and that includes calling people you've mailed.
Since the thread deals with Medicare ADVANTAGE marketing, why would you even mention something that CMS forbids?
You are giving advice to people who might believe you have some knowldege. This is not the first time you have posted completely incorrect information.
You suggested that the original poster contact you with more specific questions. I would suggest that this would be a bad idea.
Perhaps you should learn the regulations before you post again.
Rick
------------------------------------ ILIAA
Training, Community, Support, and Success Independent Life Insurance Agents Assn rick@iliaa.org
That really bad you can get in alot of trouble doing that stuff .You can lose your license,be fined tons of money, and people come to this site because you can get so much info...
That really bad you can get in alot of trouble doing that stuff .You can lose your license,be fined tons of money, and people come to this site because you can get so much info...
You can obviously get a great deal of incorrect information also. One needs to learn who to believe and who doesn't have the knowledge.
With the new regulations and restrictions on marketing Medicare advantage products, what are the best ways to generate a good return on your investment?
What are some community marketing strategies?
What is the best way to market?
I am not into cold-calling on T65 for medicare supplements. What are some other strategies specifically for the senior market?
ANSWER: Contract with a GA that PROVIDES LEADS at no cost!!!!!!!!!!!!!
There is no "This marketing strategy is not advised for MA plans." You may not have a sales seminar for MA plans and serve a meal. This is specifically forbidden.
You are not allowed to cold call for MA plans and that includes calling people you've mailed.
Since the thread deals with Medicare ADVANTAGE marketing, why would you even mention something that CMS forbids?
You are giving advice to people who might believe you have some knowldege. This is not the first time you have posted completely incorrect information.
You suggested that the original poster contact you with more specific questions. I would suggest that this would be a bad idea.
Perhaps you should learn the regulations before you post again.
Rick
If you took the time to read the actual post instead of just the headline, you would notice that the poster also discussed Med Supps, but that would be too much work for you, wouldn't it.
Also, seminars are allowed by CMS, but you can only serve dessert; they are called community meetings, so maybe you should read some regulations before you put your two cents worth in.
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Originally Posted by mississippiagent
That really bad you can get in alot of trouble doing that stuff .You can lose your license,be fined tons of money, and people come to this site because you can get so much info...
Read your regulations, community meetings serving coffee and dessert is allowed, but as I stated in my original post, because of the restrictions, I didn't suggest it for MA, now did I? The original poster mentioned Med Supps which is what I was addressing. Thanks for you input.
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Originally Posted by GreenSky
You can obviously get a great deal of incorrect information also. One needs to learn who to believe and who doesn't have the knowledge.
Rick
If you conduct your seminars correctly, you can't give wrong information, but you already know this, don't you? Can you guess how you can't give the wrong information, or are you going to spout wrong information again? I am able to admit when I am wrong, can you or are you above that?
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Originally Posted by GreenSky
No such thing as free leads. You always pay something, usually in reduced commissions, first year or renewal.
Beware of people giving self-serving advice.
Rick
Such as yourself....
Last edited by timsip : 08-28-2009 at 05:40 AM.
Reason: Posts merged
As someone who serves the Medicare Market (this includes Med Supps, Medicare Advantage, Final Expense and Long Term Care), I am a bit concerned that agents, in general, only talk about marketing to seniors during the 4th quarter of every year.
Now, I know there are some of us who market to them year 'round, and that truly is the way it should be done. All of these silly CMS regulations came about due to years of "stick em and get out" tactics of agents.
Now, that being said, I will answer the poster my answer, which is not an immediate gratification answer, meaning, by doing what I suggest, he might not make the sales this November through March, but will set himself up for a CMS-free stream of referrals, meetings and sales.
#1: Financial Planners - start building relationships with Financial Planners. Drop in from time to time, and let them know what is going on with Medicare, just in case they have any clients who might benefit from this information. You see, Financial Planners don't want to sell health insurance, or any variation thereof. By being the wellspring of knowledge in that subject matter, you become their "Medicare" or "Health" guy. Chances are they have someone who is of Medicare eligibility (don't forget, people under 65 can draw Medicare as well), someone who has a parent that is Medicare eligible, or they themselves need that information for a family member.
#2: Library Information Meetings - Get and read the Medicare and You 2010 and the Choosing a Medicare Supplement books. There are certain pages in those publications that contain important information, that may or may not be read by the Medicare public. Bookmark those pages. Introduce yourself to the Head Librarian at some of the LOCAL libraries in your area (near your home). Inform him or her that you would like to facilitate an informational meeting on MEDICARE IN GENERAL, and that you are simply going to highlight the information in these pages at the meeting. No company or product information will be provided, nor discussed. It is just to clear up some ambiguities. You are not there to feed them, just to offer information. The library will make up a generic flyer and keep stacks of it for interested parties to take. You can expect no more than 15 people to attend.
Dress in nice slacks and a knitted shirt. Since this is not specifically about Medicare Advantage Plans, the companies that offer them, or the specific plan designs, you ARE able to have a sign in sheet, where the attendees can put their name, email address, and phone number.
THIS IS NOT A SEMINAR. THIS IS AN INFORMATIONAL MEETING ABOUT MEDICARE IN GENERAL.
I am not, at this time, going to get into the specifics of my meetings. That is something you can create yourself.
It would also be great if you let your Financial Planner contacts know, and let them attend if they'd like. What a great way to offer them networking opportunities with potential clients for themselves.
You can get away with having two seminars at each library between November and March. The Financial Planners will welcome you, probably on a monthly basis, as long as you keep it short and sweet, and non-pressure.
Begin selling Med Supps. Sell and make money all year.
It is not necessary to have a lot of money to start. I do it with virtually no marketing expense. Yes, I do the "dreaded cold calling" thing and it works better than anything I have ever tried and I have literally tried everything.
Speding hundreds/thousands of dollars on "leads" is foolish in my mind.
Jacqueline and I are on holiday. I will be back in the office on Tuesday. If you would like to talk more about please give me a call then.
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877.633.0808
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