As Stephen Covey famously said (in 7 Habits of Highly Effective People), “Begin with the End in Mind.”
What does this mean? Many things. In this context, if working in the Medicare niche, specifically, you should work to create a marketing model that can later be grown to scale. Once you find your marketing groove – something that works for you consistently – you can grow that marketing medium to double, triple, etc from what you did during your market testing.
Agents who do not have a marketing plan, or agents who are not having to answer the phones from their on-going marketing at all, often are swayed into spending the entire Annual Election Period (October 15 – December 7th) each year sitting in someone else’s business.
Like car salespeople, these Medicare agents have zero control over the marketing that will bring people by their table. They cannot overtly contact seniors walking by, even. Worse, they are limited to the brand(s) that they are there under contract with.
While it might yield some applications, I would argue that far better results can be obtained by having a marketing plan whereby people are responding TO YOU. You can remain independent. You can control the number of leads calling in. You can write what is truly in the best interest of these folks, rather than being bent toward only those carriers who you are contracted with for the purposes of manning their booth.
Many newer agents are told, “This is the way it’s done.” by their upline.
They are given a place to squat during this VALUABLE time, and told “Good luck.”
This is acting, for the FMO, as if you are a free employee. They do not pay you hourly, they just enjoy the very-generous overrides from the Advantage plans written. If it works, great. If it yields no applications, no worries.
Yes, there is a much better way.
I encourage you to be an independent agent – able to offer BOTH Medicare Supplements, Part D plans, and Medicare Advantage plans… Fully balanced in your approach and the offering to the senior based solely upon what their unique needs are. Being fully in control of your marketing means that you can create your perfect “avatar.”
That means you get to pick the income levels, interest levels, geography, etc. of the people you choose to target with your marketing. Yes, it is a good idea to actually INVEST in your business, if you choose to treat it like a business.
There are so many seniors during AEP that are desperate for individual attention that it is NOT difficult to get them to respond IF they are given the opportunity.