November 10 marks the halfway point for the 2020 Annual Enrollment Period!
If you’re selling Medicare products, now’s the time to reflect on your success during the first few weeks and recharge yourself to make the most of the last few. We’ve got some questions and tips to help you do just that!
Start Off By Asking Yourself…
Who Am I Finding the Most Success with Helping?
Is it Jeanine, referred to you by a loyal client, Janice from a Medicare educational event you hosted, Jonathan who attended one of your Medicare sales events, or somebody else? How was working with the gentlemen in his mid- to late sixties who came up to your table at Walmart, versus the one who was in his mid- to late seventies? Think about where the majority of your leads are coming from and which types of people are actually buying policies from you. Try to determine if you’re having more success with clients of certain ages, incomes, or health backgrounds.
How’s My Portfolio Performing?
When you meet with a client, do they find the Medicare Advantage, prescription drug, and/or Medicare Supplement plans in your portfolio appealing? Are the plans that you have in your portfolio among the most competitive out there premium-wise, network-wise, and formulary-wise? Are there certain plans that you offer that your clients could care less about? Answering these types of questions can help you gauge how well your portfolio is working for you, or if it isn’t working very well at all. If you’re not selling the products your clients need or want, you’re likely not selling much of anything at all, right?
If you’re not selling the products your clients need or want, you’re likely not selling much of anything at all, right?
Next, Think About Some Logistics…
How Much Time Am I Spending on Paperwork?
Paperwork is a necessary part of the job, but it should only be a small part, if you want to keep growing your business. If you feel like you’re drowning in Scopes of Appointment, applications, and other documents, maybe it’s time to think about hiring an assistant or using technology that can help you streamline your sales process. Many carriers have e-Apps and allow applicants to complete applications for Medicare products online. Ritter Insurance Marketing offers Medicareful, an online platform where you can take Scopes and applications, as well as directly enroll clients in many major plans online! Save time and the trees while making selling a breeze!
Why Haven’t I Closed More Sales?
It’s not you, it’s me. Sales rejections basically boil down to that break-up phrase, don’t they? But, what if it really is you? If Lady Gaga can wear a meat dress and still have a huge fan base, shouldn’t a suit-and-tie guy, or gussied-up gal, like yourself be able to charm people, too? It’s worth taking a few minutes to consider what could be inhibiting your charm and sales success rate. Do you have a good, positive attitude at appointments, or do you tend to show your stress and frustration, especially by the end of the day? Do you avoid senior speak and looking at your watch? Is your sales pitch too salesy? Nobody’s perfect. Everyone can improve themselves in some way!
Nobody’s perfect. Everyone can improve themselves in some way!
What Medicare Products Are My Clients Looking for That I Don’t Currently Offer?
Think back to your past appointments. What Medicare plans were your clients looking for that you didn’t have? Was it a general product type like Dual Eligible Special Needs Medicare Advantage plans, a more specific plan type like Medicare Supplement Plan N, or a prescription drug plan? Are there any carriers that your clients brought up who you aren’t contracted with? Offering competitive local plans is all well and good, and we recommend it, but what if your clients haven’t heard of them and don’t trust them? Brand names can play a major role in the chips or drinks someone buys; of course, they’re going to have an effect on the insurance someone purchases! Diversification could be the key to improving your sales success!
Consider Your Personal Feelings… (Yes, They Matter!)
How Do I Feel Right Now?
Has this AEP been easy-peasy, lemon-squeezy? Or, are you feeling a little stressed, depressed, lemon zest? If it’s the latter, that’s completely understandable. AEP is the time to make Medicare sales, and it’s only 54 days long! You’re trying to cram a lot of business in, and that can be super overwhelming. However, we know you can do it; you can survive this AEP and thrive! If you’re feeling stressed, be sure to take some time for you — schedule it if you must! Your health is a priority, and you don’t want to burn out now, do you?
Your health is a priority, and you don’t want to burn out now, do you?
What’s Something I Can Do to Improve My Feelings?
After you figure out how you’re feeling (e.g., fine and dandy, stressed, crunched for time, frustrated, etc.), it’s necessary to take a few moments to figure out what you can do to feel better about and improve your situation. There are plenty of wellness tips for AEP that you could start following and stress relief tips to check out if you need them. We’ve also got some AEP organization tips and tricks that may help you minimize the chaos and maximize your calmness. However, if those posts don’t help, don’t just suffer and sell in silence. Reach out to a friend, your upline, or a representative at your friendly field marketing organization (FMO). They could help you figure out a better way to proceed!
Recharge & Renew Your Sales Strategy
Do I Need to Add/Remove Any Products to/from My Portfolio?
By this point, you should have examined how your current portfolio’s performing and made lists of the products that your clients are and aren’t interested in. Now, it’s time to really think about if you need to take actions to update your portfolio. Do you feel comfortable cutting your ties with a carrier, or would you like to build a bridge with a new company? While you may not be able to get contracted and certified in time to sell new products during the rest of this AEP (depends on the carrier and your FMO’s turnaround time), it still might be worth updating your portfolio as soon as you can. There are still Special Enrollment Periods when you can sell Medicare plans, and thousands of people age into Medicare each day!
Could I Better Use Technology to Save Time and Sell More?
Even if you don’t feel crunched for time, or if you have an office assistant or two, fully utilizing the technology that’s available to you can make things even easier for yourself, your staff, and your clients. It could also help you save time and energy, allowing you to shift that into new sales and more money! For example, how are you generating your leads? By word of mouth only? Why not try using your own personally branded marketing and enrollment website?
Why not try using your own personally branded marketing and enrollment website?
Our company makes it easy, already setting your unique site set up for you and getting it CMS-approved! You can just enjoy the benefits, like a consumer-facing quote engine, a website URL you can share on marketing materials, electronic permission to contact and electronic Scope of Appointment, and even enrollment buttons to help your clients enroll directly in plans via your own site. Using customer relationship management software, like the Clients tool in Ritter’s Platform can help you keep your book of business organized. And, an agent platform like Ritter’s can also help you manage your clients and their info, your contracts, your commissions, your submissions, your downlines, and more!
What’s My Plan for Following up with Clients?
It’s important to check in and stay in touch with your current clients, whether they’ve been your clients for years or only a few months. If you don’t, you risk another agent stealing your business. So, how often will you follow up with your clients? It’s up to you and should depend on each of your specific client’s preferences, but you should have a plan in place. Just don’t forget to follow the necessary compliance rules!
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Whether you feel ready for AEP to end or not, you only have less than a month left to go. We know you’ll use it to its fullest. And, we hope this year’s selling season is one of your best ones yet!