Advertising Med Supps - Print and Radio

[Guest]

I have been considering doing some advertising for Med Supps on the local radio station. They have a show that is geared toward seniors and I think it would be a great opportunity to get my name out there. I've never heard any radio ads for Med Supps, so I'm not sure how difficult this will be.

Have any of you advertised Med Supps on the radio before? How strict are the guidelines?

If the rules are too strict then how about print ads in the paper, have you ever done those? Did you have any luck with them?

 

[Tampa Teddy]

I have been considering doing some advertising for Med Supps on the local radio station. They have a show that is geared toward seniors and I think it would be a great opportunity to get my name out there. I've never heard any radio ads for Med Supps, so I'm not sure how difficult this will be.

Have any of you advertised Med Supps on the radio before? How strict are the guidelines?

If the rules are too strict then how about print ads in the paper, have you ever done those? Did you have any luck with them?

When you can get a 3%-5% mailer return targeting the income ranges & area's that you want, why would you spend the money on the shotgun approach of radio? Did you ever wonder why you never hear radio spots for med supps?

 

[Guest]

When you can get a 3%-5% mailer return targeting the income ranges & area's that you want, why would you spend the money on the shotgun approach of radio? Did you ever wonder why you never hear radio spots for med supps?

Because I know the Director of Advertising at the station and he is going to give me a great rate. Does that mean that the investment will turn out better than mailers? No... It was just a thought that it might be worth a shot.

I could be totally wrong. Maybe people have tried it and it doesn't work... I don't know.

 

[Joe Moore]

We keep a local ad advertising we have become "The Place" for Medicare Insurance and Life Insurance. We sponsor the 7:30 news every morning, cost about $500/month. We are on a station that has a 77-year-old announcer that has been an employee of the station over 50 years. Virtually all seniors in the area tune in.

I personally do the ads. You know it is working when you meet someone on the street, go to the bank, or have some store clerk say, "Oh, you are the Joe Moore I hear on the radio"

This time of year, we will have 2-3 people mosey into the office, and probably sell 2 out of 3 of them. During Medicare Season, we sometimes have a line waiting on 2-4 agents, and have written as high as 12 Med Advantage or Supplements out of the office in a day..

The repetition is worth it, even in slow times. It may be the best $6000 a year we spend. I do not think it would work near as well if we hit it say a week a month.

 

[Guest]

We keep a local ad advertising we have become "The Place" for Medicare Insurance and Life Insurance. We sponsor the 7:30 news every morning, cost about $500/month. We are on a station that has a 77-year-old announcer that has been an employee of the station over 50 years. Virtually all seniors in the area tune in.

I personally do the ads. You know it is working when you meet someone on the street, go to the bank, or have some store clerk say, "Oh, you are the Joe Moore I hear on the radio"

This time of year, we will have 2-3 people mosey into the office, and probably sell 2 out of 3 of them. During Medicare Season, we sometimes have a line waiting on 2-4 agents, and have written as high as 12 Med Advantage or Supplements out of the office in a day..

The repetition is worth it, even in slow times. It may be the best $6000 a year we spend. I do not think it would work near as well if we hit it say a week a month.

That is excellent info. Thank you very much!

On your advertisements what exactly are you advertising? I guess what I'm concerned about is compliance issues with Med Supps. How specific are you in your ads?

I really think this would help me get my name out there. I've just got to figure out how to go about the ads without violating any rules. That's the tough part.

 

[Joe Moore]

That is excellent info. Thank you very much!

On your advertisements what exactly are you advertising? I guess what I'm concerned about is compliance issues with Med Supps. How specific are you in your ads?

I really think this would help me get my name out there. I've just got to figure out how to go about the ads without violating any rules. That's the tough part.

The latest starts out that "Everyone knows we have become "The Place" for Medicare Insurance, but did you know that we probably have the best Life Insurance pricing in town".

We also say we have almost all the major companies and you can buy it for the same price as the internet, or an 800#. But with us you have the advantage of having local agents, to help solve problems, if the problems arise.

We never name a company.

 

[somarco]

I am just putting my toe in this market, but is "Medicare insurance" an acceptable phrase? Maybe you can get away with it in Morristown, but I wonder about larger markets.

Also, there are things that work really well in smaller towns that don't do as well in larger markets. My wife has relatives north of you (Greene county) that are known for their respective businesses (insurance, real estate, etc.). She also has relatives in your home town that own the local funeral home.

Small towns, "where everyone knows your name" can be good or bad. Just depends on the reputation you develop . . .