Supp Number$ Getting Started

[entrep1776]

You'll have AEP spikes and maybe even a few weeks of no apps.

Are you planning on targeting T65 with your DM leads or a different segment of the market?

Thanks will try to not analyze so much.
I'm planning to only do Medicare Supplements for next year.

----------

A= You are thinking too much. Just go sell all you can sell. Quit guessing what's going to happen.

B= Your lead cost will be much lower than that. $30 would be a horrible response on Med Sup leads. They respond much better than that. Should be in the area of $20 per lead.

Thanks will try not to analyze so much.
I now have some numbers to target as far as lead costs.

----------

I agree with the overthinking.

I disagree with the cost of a lead. I stopped doing direct mail when the response dropped to about 1%. But even if using 1.5%, at a $450/K mailing, each lead is indeed $30.

Unless the response rate is over 2%, the lead cost will certainly be over $20 each.

Rick

Thanks will try not to analyze so much.
& will watch my lead costs.

----------

It's PRE-AEP.

Just Sell. Then Sell more.

Med Supps going away you say? Convert your worry time into selling time.

If you're over-thinking this much what's going to happen at game time?


P.S. - Don't spell like a teenager texting her BFF. Have some respect.

I will try to stop analyzing so much.

Just do it. Thanks Have appreciated your advice on this and in the past..
In AF I was pretty much promised a pilot slot until Congress cut number of slots available & I didn't get one. Congress IMO changed the rules mid game. So I'm not counting on med supps being around for next 30 years.
Stop worrying and start selling is good idea. As others have stated sell med supps with cross sell of FE.

Teen age girl texting. I thought people would get a little entertainment out of title. I'll consider little more professional in future.

----------

Cross-market final expense to every single med supp you close and that can help keep your pockets full first year while you're building your med supp renewals for the latter years.

Alternatively, why not flip your sales model to phone sales and see more people for less money?

Thanks for advice on cross selling to pay for MS marketing. Maybe after learning F2F, I'll try some phone sales.

----------

First off 15% close ratio is not conservative at all.

Secondly if I were to pay $30 per Dm lead I would be out of biz. Think more $10-12

Edit: I'm referring to T65's in FL. Some months I'm around $8

Appreciate feedback that 15% isn't that conservative. I was thinking it was, which would have frustrated me if I was only closing 8% initially. & also thanks for the feedback that my lead costs should be lower.

----------

I'm going to agree with everyone about overthinking this. One thing you're leaving out of your equations is cross-selling FE. If you do it correctly, your FE sales should be enough to buy your leads.

I will try not to analyze so much. I'm seeing a common theme!
I was not thinking of cross selling FE. I was thinking I'd be concentrating on two products instead of one. I will definitely work on the cross sell.

----------

The farther you mail out the better response you get. I use the generic "your open enrollment" letter

Prius will be racking up the miles as I get started. 40 MPG! Just hoping I get some good sales/mile!
------------------------

Thanks for everyone's advice. Much appreciated.

I will work on analyzing less.

Everyone's feedback has helped. I feel comfortable with plan of selling med supps, cross selling FE in the boonies, & getting my lead costs under $20. I should be able to eat a little the first year.

 

[J.R.]

What was your AFSC and where were you stationed? Are you still serving in the USAF?

 

[entrep1776]

What was your AFSC and where were you stationed? Are you still serving in the USAF?

I'm out. 63A3. Acquisitions. Project Manager. Bought f-16 flight simulators for Bahrain & Korea. 1998. Wright Patterson. Dayton Ohio.

 

[Devin01]

Re: Medicare supplements - rough business plan

I'm going to agree with everyone about overthinking this. One thing you're leaving out of your equations is cross-selling FE. If you do it correctly, your FE sales should be enough to buy your leads.

Todd what % of your T65 med supp clients are buyi ng FE from you?

 

[springbokhouston]

Entrep1776 I would seriously consider doing the AHIP and having MA available to your clients as well. Trickier to deal with compliance-wise, but you'll find that many of your potential clients will either not qualify for a supp or just can't afford one. It will greatly increase your ROI on your leads.

 

[mdlovell]

Really depends on the month. The summer I'm only getting 2.5% so that number gets around $18/per lead but with my discount, it drops to $14/lead.

Beginning of the year for the first 4 months it's $8.65/lead and with discount, it dropped to $7.15/lead this year.

Before I get bombarded with PM's, no I don't sell leads. Go to any lead company like Target Leads, Lead Concepts, Need a lead and they are pretty much all the same. The farther you mail out the better response you get. I use the generic "your open enrollment" letter

That's very helpful to share that info Chazm, thank you for being so open. Have you found that you need to work evenings more often to get in contact with the T65 folks?

 

[Todd King]

I'm out. 63A3. Acquisitions. Project Manager. Bought f-16 flight simulators for Bahrain & Korea. 1998. Wright Patterson. Dayton Ohio.

I was Electronic Warfare Systems Specialist. Mainly worked around the A-10s while I was at Bentwaters (UK), and Myrtle Beach AFB.

----------

Todd what % of your T65 med supp clients are buyi ng FE from you?

Devin, I don't get out and sell anymore, but when I was I would say that it was somewhere around 15%-20%. I was very good at cross-selling. I would say that the % increased at ages 67 and above though. Probably between 25%-30%.

 

[Chazm]

That's very helpful to share that info Chazm, thank you for being so open. Have you found that you need to work evenings more often to get in contact with the T65 folks?

I have my TM call any time during the day or night. When I called myself I would call in the Am usually. What I've noticed is the people you only can get on the phone at night probably have an employer plan. But not always.

----------

I was Electronic Warfare Systems Specialist. Mainly worked around the A-10s while I was at Bentwaters (UK), and Myrtle Beach AFB.

----------



Devin, I don't get out and sell anymore, but when I was I would say that it was somewhere around 15%-20%. I was very good at cross-selling. I would say that the % increased at ages 67 and above though. Probably between 25%-30%.

I wish I could do that! I'm horrible at getting my clients to sign up for FE. As you're probably aware because I have RNA with you lol

 

[entrep1776]

I was Electronic Warfare Systems Specialist. Mainly worked around the A-10s while I was at Bentwaters (UK), and Myrtle Beach AFB.

Sounds like some good places to be stationed. Was gonna ask if you ever got a ride but think is only one seater.

A-10 is an amazing plane! just read Wikipedia said supposed to be in service til 2028 (probably get extended) had to watch couple YouTube videos. I was down in Louisiana got to watch hear A-10 on range. Was told gonna be LOUD. LOUD it was. Remember being told if pilot keeps finger on gun too long plane will stall out.

----------

As you're probably aware because I have RNA with you lol

What's an RNA?...............

 

[Todd King]

I wish I could do that! I'm horrible at getting my clients to sign up for FE. As you're probably aware because I have RNA with you lol

Agents always asked me what my secret was. The secret is that there is no secret. You just have to open your mouth and talk about it. Most of the time I was able to convince them to drag their policies out so that I could take a look at them. A good majority of them did not have what they thought they had and I was able to point it out right then and there.

I was also one of those agents that acted like a dog with a bone too. I would help them dig through their cedar chests or whatever it took. Sometimes it would make me late on my next appointment, but "A bird in the hand...", ya know!