How to Improve Your Ability to Cross-Sell Your Clients
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14 Ways To Generate Medicare Leads
Lead Generation is the process of attracting and converting strangers and prospects into someone who has shown interest in your product or service.
For starters, exceptional lead generation comes from a relentless willingness to experiment with several different tactics, and to combine these tactics across multiple channels.
It’s unlikely that you will find just one technique that will pave a path of success to your business. You will likely need to take advantage of multiple channels concurrently.
Broadly speaking, there are 2 categories of lead generation: Inbound and Outbound. We will review the differences between the 2 before discussing some lead generation techniques that may be right for you.
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Getting Connected: Older Americans Embrace Technology to Enhance Their Lives
Most Americans have embraced technology in their daily lives and those over 50 are no exception. Results of a new survey by AARP show older adults are using a variety of devices to stay informed, shop and connect with others.
Over 90% of adults over 50 own a computer or laptop, 70% have a smartphone, and over 40% own a tablet, according to a national study of 1,520 adults conducted in November. Adults 70+ are more likely to have more dated technology, such as desktops and feature phones, than those age 50-69.
Want to know what the grandkids are doing? Check on Facebook. Sure enough, across all devices, over seven in ten adults 50+ are on social media, and nine in ten (91%) of those with devices say they use technology to stay in touch with friends and family.
Different devices for different purposes
Smartphones help people be social while they are on the go. Over half of smartphone owners use a social app weekly. Texting (86%) has caught up to email (87%) as the top ways people use technology to communicate with others.
Among adults 50+, nine in ten say they use their smartphone to send instant messages, texts or emails, and over three quarters find them handy for getting directions or traffic information. They also use them for purchasing apps, surfing the internet, getting news, and accessing social media, the AARP research found.
Just how adults use technology varies by age. Adults 50-59 are more likely to do banking activities and watch video on their smartphones than those who are over 60. However, smartphone users age 60-69 are leading the way in using their phone to manage medical care (they are significantly more likely to do so than those over 70: 33% vs. 21%).
Respondents report using tablets more for entertainment and computers for practical tasks. Adults in their 50s and 60s use their computers to engage in online learning activities and posting ratings and reviews more frequently than those older. Further, Americans over 70 do fewer activities on their computers than those under 70, with a couple exceptions, including gaming (over half play games on their computer) and email.
When it comes to wearable technology (smartwatches, fitness trackers, etc.) and home assistants, just a small percentage of the 50+ market are on board. Younger adults are more likely to own a wearable than those over 70.
Wary of security and virtual reality
In spite of the reliance on technology in many realms of life, just 18% of adults 50+ are extremely or very confident in their online privacy. Four in ten (41%) are not very or not at all confident in their privacy. Those over 70 are more skeptical their information is private online than those aged 60-69, the survey finds.
Most older adults do not completely trust companies to keep their data secure. The survey discovered respondents have more confidence in banks and health care organizations and less trust toward the media, social media sites, and membership organizations.
Despite security concerns, however, the survey found many older adults don’t take proactive steps to protect themselves (although men are more likely to do so in several instances). Overall, just 58% of respondents say they use a passcode to lock their tablets and 59% use one on their smartphones. And changing passwords every few months? Just 45 percent of adults 50 and over take that security precaution.
Few older adults have used virtual reality, and many are unfamiliar with augmented reality. Most respondents had heard of virtual reality devices but few have tried them. Adults age 50-59 are the most likely to have checked out or own a virtual reality device, but adoption is still small. Over six in ten adults in the survey have never heard of augmented reality and very few have tried it -- although awareness was greater among those in their 50s.
This study was fielded from November 16-27, 2017 using GfK’s KnowledgePanel, a probability based web panel designed to be representative of the adult US population. Respondents needed to be age 50 or older to complete the survey. Completion rate was 59.9% and resulted in a total sample of 1,520. The data are weighted by age within gender, education, race/ethnicity, household income, language preferences, and Census division to reflect US adults age 50 or older. For more information contact G. Oscar Anderson at GAnderson@aarp.org.
At PSM, we provide the tools, knowledge and support to help take your business to new levels. If you have an interest on how to effectively sell online, we would love to assist you.
The Definitive Digital Marketing Handbook for Medicare Agents
If you sell Medicare products and you have a website, this is an insightful on how to effectively market your business.
We live in a digital world. The signs of people’s ever-increasing passion for digital communications are all around us.
Digital has become woven into everyday life, yet, most Medicare Agencies don't have a sound digital marketing strategy. KERN Health’s informal polls at the Medicare Marketing & Sales Summits in Orlando and Nashville suggest that most (65%) of Medicare Agencies felt that their organizations were struggling and were unprepared to develop a digital marketing strategy.
According to Pew Research Center, 76% of older (leading-edge) Boomers (ages 60–69) use the Internet daily. Even the Silent generation (ages 70–87) now has an adoption rate of 61% who use the Internet. And when we look at the younger (trailing-edge) Boomers (ages 51–59), we see the handwriting on the wall for the future of Medicare marketing—with only 17% of this group not using the Internet daily. Furthermore, 84.9% of Boomers and Medicare beneficiaries are sharing information, talking about politics and engaging on Facebook.
And when we’re speaking about digital, more than half of what we’re speaking about is mobile. According to a 2016 Pew Research Center report, mobile now accounts for more than half of all digital advertising spending, while digital ad spending grew from $43 billion in 2013 to over $60 billion just two short years later.
Hopefully this guide will provide insight and best practices on how to make sure your website and marketing efforts are optimized in the new digital age of the senior market.
Hispanic Market of Growing Interest to Insurance Agents
Not only are Hispanics the fastest-growing young demographic in the U.S., but they have the longest life expectancy at birth, facts that might interest insurance agents looking to build their books of business.
Underwriters of life insurance policies might also want to take note as the nation becomes more ethnically and racially diverse and as Hispanics continued to be underrepresented in life insurance coverage.
The data are the latest findings published by the National Center for Health Statistics in “Health, United States 2016.”
“By 2015, just over one-half of the child and adolescent population was non-Hispanic white and one-quarter was Hispanic,” study authors wrote in the 488-page report.
The NCHS is the principal data collection agency of the Centers for Disease Control within the U.S. Department of Health and Human Services.
There were about 321 million people in the U.S. in 2015, compared with 216 million in 1975.
In 2015, nearly a quarter (24.6 percent) of the population ages 0 to 17 years old was Hispanic, an increase from 17.1 percent in 2000, as that age segment grew fastest.
Hispanics ages 18 to 64 years old made up 17.3 percent of the population, an increase from 12.2 percent in 2000, the report found.
Hispanics 65 years and older made up 7.9 percent of the population in 2015, an increase from 5 percent in 2000, the health data found.
By comparison, in 2015 whites made up 51.5 percent of the population age 0 to 17 years old compared with 61.3 percent in 2000.
In 2015 whites 18 to 64 years old made up 61.5 percent of the population, compared with 70 percent in 2000. Whites 65 years and older made up 77.8 percent compared with 83.8 percent in 2000, the data show.
Life Expectancy Highest Among Hispanics
That the nation’s population is moving toward racial and ethnic diversity isn’t exactly new, but the latest mortality data about Hispanics might be.
During 1975-2015, average life expectancy at birth in the U.S. rose from 68.8 years to 76.3 years for men and from 76.6 years to 81.2 years for women.
In 2015, Hispanic men had a life expectancy at birth, on average, of 79.3 years and Hispanic women had an expectancy of 84.3 years.
Non-Hispanic black men, with a life expectancy at birth of 71.8 years and non-Hispanic black women, with a life expectancy of 78.1 years, had the shortest, according to the data.
Life expectancy at birth was 7.5 years longer for Hispanic men than for non-Hispanic black men and 6.2 years longer for Hispanic women than for non-Hispanic black women.
The leading cause of death in 2015 was heart disease, which claimed 23.4 percent of all deaths, the data show.
Heart disease was followed by cancer (22 percent), CLRD, or chronic lower respiratory disease, (5.7 percent), unintentional injuries (5.4 percent), stroke (5.2 percent), Alzheimer’s (4.1 percent), diabetes (2.9 percent), influenza and pneumonia (2.1 percent), nephritis and nephrosis, or kidney disease (1.8 percent), and suicide (1.6 percent).
From 2011 to 2014, diabetes, a condition in which the body is deprived of insulin, affected 12 percent of adults age 20 and older.
From 1988 to 1994, diabetes affected 8.8 percent of adults 20 and older, the data show.
Between 2011 to 2014, the prevalence of diabetes among blacks and Hispanics of Mexican origin was almost twice as high than for non-Hispanic whites, the data found.
Just recently, a research study conducted by Limelight Network, Inc. has concluded that Baby Boomers are spending more than 15 hours online per week, making them the majority power users online. With 55% of seniors on Facebook in 2014, implementing a Facebook marketing strategy should no longer be an afterthought for senior market insurance agents. Companies of all sizes from every industry have made the leap into Facebook and are actively planning strategic campaigns around their social activity, but senior market insurance agents have seemingly lagged behind.
Why is this?
Is it a lack of understanding about social media as a whole and how it integrates with marketing efforts?
Or, could it be somewhat of a fear of compliance with regulations set standard by CMS?
These obstacles should not stand in the way of building up Facebook marketing strategies, as they are all easily overcome. See, there's a lovely void of which YOU can take advantage: There aren't very many agents in the game and the bar for Facebook marketing strategy is set pretty darn low. With that in mind, let’s get into the three reasons why senior market insurance agents should be utilizing Facebook.
1) It helps you to better service and retain your existing clients
The rapid pace of consumer and technological change is like nothing seen before. Access to digital technologies has equipped consumers with the ability to research, read reviews, share recommendations and get instant answers to their inquiries. In turn, it’s caused much disruption to traditional insurance business models and has created quite a significant change in consumer expectations and behaviors.
Facebook is a great way to spread the word about the social, political and economic industry trends and changes. For example, there's plenty of misleading or confusing information on the Internet about Medicare - think about ways in which you can use your Facebook page to positively impact clients and the public to combat this. Be conscious of articles that may come across your eyes, such as those elaborating upon the rising Medicare Part B Premiums or the pressures mounting for Medicare drug benefits, and be sure to share your ideas upon them with your audience. The idea here is to limit self-promotional posts and instead focus on ways that help clients make sense of the abundance of product information, as your Facebook marketing strategy should not revolve around selling a product or a service.
2) It improves the overall client experience
To keep up-to-date with your clients and gain insight, use your Facebook as a way to inform, assist, and entertain them.
Engage with them. Show off your personality. Humanize your business as a senior market insurance agent. Respond to reviews and inquiries.
3) It will attract new clients
Apparently, Baby Boomers are spending more time online per week than we do sleeping each night. With that being said, it’s a no-brainer that Facebook can serve as a great way to reach prospective clients. Plus, as mentioned above, not many other senior market insurance agents have implemented their own Facebook marketing strategy.
Use Facebook as a platform to raise awareness to your business as a senior market insurance agent, or (if you have a personal website) to drive prospects toward landing pages so that you can nurture those leads into becoming clients. Your Facebook posts should be relevant, well-written and accompanied by media to grab your audience's attention. The sky is the limit here - Explaining the enrollment process through infographics, guiding them to video resources that may explain Medicare a little more in depth, etc.
No matter which segment your specialty lies within, whether it's Medicare Supplements, Medicare Advantage, Annuities or Final Expense, your Facebook marketing efforts will relay social proof that emphasizes your role as a highly-trusted, impartial advisor. When it comes down to it, this is what will get you shares, likes, retweets and favorites - in turn, landing you more referrals!
As the number of seniors on Facebook continues to evolve, more reasons for you to get started on your Facebook marketing strategy will come about. If it helps, you can always search around for other insurance agents on Facebook and get a sense for what they’re posting. Jot down some notes of what resonates with you versus what feels a bit off. After you get comfortable, you’re ready to create your Facebook page and start engaging with your clients on Facebook.
For ideas on what to post, or to stay up-to-date with industry trends and changes, be sure to like Precision Senior Marketing on Facebook! :)
Your senior market insurance business will flourish for years to come.