Successfully establishing your insurance business in a specific geographical area will do wonders for prospect conversion.
Not sure how to develop a territory? Here are some great growth strategies you can use to increase your community presence and establish yourself as the senior health insurance professional in your area.
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Make Use of Traditional Marketing
What traditional marketing methods should you employ?
- Sending direct mail/purchasing leads (compliantly!)
- Marketing in local businesses via business cards, flyers, push cards, etc.
- Placing ads in local newspapers
- Taking advantage of other miscellaneous opportunities (e.g., sponsoring a local sports team, putting your ad on restaurant placemats, doing radio ads, etc.)
Build Relationships with Organizations
Affinity partnerships are powerful. They provide access to another group’s members or patrons and feed you referrals.
Which Organizations Make Good Affinity Partners?
A good affinity partner will help advertise your business to potential clients and generate referrals. Try teaming up with:
- Professional organizations
- Property and casualty insurance agencies
- Group insurance agencies
- Tax preparers, retirement planners, law firms, etc.
- Community organizations
- Senior organizations
- Retirement communities
- Rotary clubs
- Senior fairs or other events (e.g., health screenings)
- Medical organizations
- Doctor offices
- Other organizations
- Grocery stores
- Malls (rent a kiosk!)
Best Practices for Building Affinity Partnerships
As you prepare to approach potential business partners, there are a few things you should keep in mind.
Upon introducing your idea to your contact, you should explain why the group and their clients would benefit from partnering with you. Then, offer to do Medicare 101 trainings or educational events. You can eventually offer to do sales events, but they’re a harder sell.)
If the organization is interested in working with you, try getting some events on their calendars. If they do a circular, inquire if you can help fund it in exchange for some advertising space. Also, ask your contact if you can leave business cards, flyers, table toppers, etc., in the building. And lastly, check if the group will host a landing page, web banner, or link that takes people to your website on their website.
Looking for an easy way to promote your business? Join Ritter’s Medicareful program to gain access to your own lead-generating, CMS-approved site with eScope and direct enroll capabilities and materials you and your affinity partners can use to spread the word about your services.
Work Your Existing Book of Business
Building a larger client base is great, but don’t forget: You can generate referrals, create positive word-of-mouth advertising, and increase your chance of retaining clients by putting past customers first.
Treat your existing clients well by:
- Learning things about them (e.g., their job, kids’ names and ages, and favorite sports team)
- Sending out birthday and anniversary cards
- Hosting fun member events (e.g., ice cream socials, picnics, etc.)
- Holding annual benefit reviews
Becoming known as the neighborhood expert on Medicare takes time, dedication, and legwork (figuratively and literally). However, all that comes with the territory, though, now doesn’t it?
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Compliance Reminder: Agents must follow CMS’ Medicare Marketing Guidelines. For a quick review on how to stay compliant, check out our posts on the do’s and don’ts of Medicare compliance, rules for hosting educational events on Medicare, and rules for hosting sales events on Medicare.