Medicare Leads 101 - Generating Leads
Generating Leads – Buying vs. Creating Your Own
People can self-enroll into Medicare plans. They can do it through Medicare.gov or directly from the insurance carrier by their site or by calling in. So, why use you? They use insurance agents because insurance is confusing, and making the wrong decision can cost them an abundance of out-of-pocket money.
The same goes for leads.
Generating leads is not as simple as many think. There are lots of moving parts on the back end of most lead-generating systems that go unseen or unmentioned. Unless you know for sure what you are doing, leave it to the professionals.
However, this can also be expensive. All those unseen or unmentioned systems can start to raise the cost of generating leads and if not performed, can degrade your results.
Here are some leads where you’ll need to call in the professionals:
It seems simple enough. You mail out a form. The prospect mails back a form. You contact the prospect about the form. All is well with the world.
However, I have seen numerous agents design their own mailers, spend hundreds of dollars on design, printing, and postage with absolutely zero results. In many cases, they would have spent less by using professionals.
Lead vendors that specialize in mail have dropped hundreds of thousands of mailers and have the experience and analytics to know what works.
Can you design and execute your own mailers? Yes. Should you? No. Using a professional service will save you time, money, and a lot of headaches.
“How do I get first page Google results for Medicare?” I have been asked this question numerous times. It is not that hard, provided you have about $30,000+ per month on an internet marketing budget (this is the actual budget of some smaller carriers). That may get you first page results.
Internet leads cost a lot, and they are hard to generate. They take time, a deep pocket of money, and you are competing against some of the biggest names in the business.
“But I am just doing a simple landing page!” Just like everyone else. If it is not properly coded on the back end combined with an almost endless budget, just buy from the professionals.
“Surely, Facebook would be easier!” If you are struggling to keep your Facebook page up to date, then don’t attempt Facebook Ad Manager. This is the difference between driving your car and replacing the motor. Sure, I can drive my car with ease. I have no idea how to replace my motor. Even if I could, I know it would be expensive and time-consuming.
If you have never seen Facebook Ad Manager, it really is that complex. I also know agents who have attempted Facebook ads on their own, and their cost-per-lead was equal to what they could have just bought leads for.
Focus on working leads, don’t beat your head against your desk in attempts to save a dollar because that is about all you will save.
“But I can pick-up the phone and generate my own leads this way!” Yes, you can, but are you? Most agents I know are good in an appointment but are not great at prospecting over the phone. Telemarketing is time-consuming, for many frustrating, and easy to make excuses for.
However, of all the lead-generating methods, this one you have the most control over. If you are generating your own leads, you are involved from the first contact to the end.
Of all the methods mentioned so far, this is the most viable to start on your own.
“So, how do I generate my own leads?!?”
Great question. The short answer is that it isn’t as simple as many think. Yes, there are a lot of people that need assistance with their Medicare coverage, but this is no secret and there is no shortage of people wanting to assist them.
Self-generated leads may take more time to generate but should be part of your marketing plan.
Here are some ideas to self-generate leads:
Circle of Influence
Everyone you know should know what you do. I am not saying becoming that person that never stops talking about what they do to the point they seem like a walking internet pop-up ad, but the more people know what you do, the greater your reach.
Seniors use other services. P&C agents, CPA’s, estate planning attorneys, etc. all have clients who are Medicare eligible and may have questions—becoming a resource for that professional can greatly extend your reach and generate referrals.
Go to Where the Seniors Are
One advantage you have over national carriers is your local presence. Rather than call a 1-800 number and hope for the best, they have an actual person they can contact. Become known in places seniors are—senior centers, senior living communities, parishes, etc. Offer to do seminars, volunteer, etc.
“This is a lot of information. What should I do?”
There is no one-size-fits-all marketing or lead-generating plan that works for agents.
This is where Senior Marketing Specialists can help. Mapping out a well-thought-out plan that you will actually execute (and not just daydream about) will get you faster results.
Grab a cup of coffee, give us a call, and let’s get you in front of some prospects!