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Medicare Managers Hope to Lift Agent Referral Fee Cap

Posted by www.psmbrokerage.com Admin on Mon, Feb 10, 2020 @ 03:41 PM

Tags: Medicare Advantage, Referrals, Medicare Part D

How to Ask for (and Receive) Referrals

Posted by www.psmbrokerage.com Admin on Tue, Nov 27, 2018 @ 01:24 PM

How to Ask for (and Receive) Referrals

(Photo: Freepik)

Mastering customer retention is key to the health of your business, but new customer acquisition is a big piece of that puzzle, too. Your colleagues in sales are hard at work prospecting to generate new business, but you have an opportunity to do that too -- by asking for customer referrals.

According to the Wharton School of Business, a referred customer costs a lot less to acquire and has a higher potential for retention and loyalty. In fact, a referred customer has a 16% higher lifetime value than a non-referred customer. What's more, these customers are free to acquire for your business -- a win-win.

But how do you go about breaking the ice with your customers to ask them for help? How do you encourage them to mine their network to help you without being pushy or awkward? Fear not -- in this blog post, you'll learn how to identify potential referral opportunities by asking for customer feedback, and how to ask for those referrals once you've identified good candidates.

How to Use Customer Feedback to Identify Referral Opportunities

1. Identify your advocates

Identifying potential customer advocates can seem like a huge challenge, but using a simple Net Promoter Score® (NPS) survey can help make the process a little easier. Using an NPS survey can help you pinpoint potential advocates and turn this customer feedback channel into a referral growth engine.

NPS is a customer loyalty metric utilized across multiple industries to measure how happy a customer is with your product or service. NPS is determined by sending out a single-question survey to your customers that asks: How likely is it that you would recommend our company/product/service to a friend or colleague?

Respondents are asked to score their answer based on a 1-10 scale. Responses of 7 or 8 are labeled as "Passive", and scores of 0 to 6 are considered "Detractors." If a customer responds with a score of 9-10, they're labeled "Promoters" of your business. This group is most likely to provide referrals.

2. Follow up with your promoters

Just sending out an NPS survey isn't enough. You need to follow up with potential advocates and keep the positive momentum rolling along. What's the use of seeing a set of data with people who selected 9 or 10 if you're not going to use it to your advantage?

You have to mobilize your promoters by engaging with them -- and your promoters are your advocates. They are the people who took the time to select an NPS response and raise their hands, saying, "I am willing to recommend you to my friends."

Once you have identified your promoters, you should formulate a plan to follow up and make it easy for them to refer your company or product to their professional network.

If you have an employee at your company who handles new business development or customer marketing, you can have them reach out personally and see if your promoter would be interested in referring you. The key here is to make it easy for your promoters to refer your services to their professional network. Referrals and recommendations from real customers will outperform any share button or social media campaign over the long-term.

3. Use promoter feedback for referrals and testimonials

People are more likely to trust your brand early on if they have social proof of your expertise, and testimonials and case studies are one of your most powerful assets. A great way to get testimonials for your company is simply by asking for customer feedback and turning that exact same feedback that you receive into a testimonial on your website.

There are two ways you can approach this: One is by analyzing all the comments you get from the NPS survey, and then personally emailing each respondent to ask for permission to use their comment as a testimonial. The second way would be to send out a short survey soliciting feedback from promoters.

Once you've identified these happy customers and they've indicated a willingness to speak on your company's behalf, it's time to actually ask them for a customer referral.

Check out the details on the 8 Steps on How to Ask for Referrals here

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Medicare Advantage / AEP Updates:

  • Your path to AEP success with Precision Senior Marketing - View
  • Enroll your MA and PDP clients online - at no cost to you - View
  • 2019 Medicare Advantage / Part D Certifications now available - View
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Tags: inbound traffic, Referrals, Leads

14 Ways To Generate Medicare Leads

Posted by www.psmbrokerage.com Admin on Wed, Sep 05, 2018 @ 04:56 PM

14 Ways To Generate Medicare Leads

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.

Read the full article that includes the Infographic below:


Section Links Include:

Read More: 14 Ways To Generate Medicare Leads

Additional Updates:
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  • For a little bit of humor, check out this senior text translator - View
  • 2019 Annual Enrollment Period (AEP) Events - View
  • Follow us on LinkedIn and keep your business informed - View
  • Increase your sales with our complimentary tools and tech - View
  • Express: Mutual of Omaha weekly updates - View
  • VALUES Quote of the Week - View
  • Current agent incentive trips and contests - View

Medicare Advantage / AEP Updates:

  • Your path to AEP success with Precision Senior Marketing - View
  • Enroll your MA and PDP clients online - at no cost to you - View
  • 2019 Medicare Advantage / Part D Certifications now available - View
  • 2019 Medicare Advantage First Looks now available - View
  • 2019 AEP Road Map - Start your planning today - View
  • The DSNP Market continues to grow. Are you missing out? - View

Tags: Medicare, Referrals, Leads, Insurance Marketing, Social Media Marketing, internet sales, direct mail

Build a Customer Referral Program With These 5 Tips

Posted by www.psmbrokerage.com Admin on Thu, Feb 08, 2018 @ 02:38 PM

Build a Customer Referral Program With The 5 Tips

Build a Customer Referral Program With These 5 Tips

This is a great summary from a recent Hubspot article on how to create an effective customer referral program. 1 in 3 people come to a brand through a recommendation, and customers who were referred by loyal customers have a 37% higher retention rate. (Deloitte)

Word of mouth is the primary factor behind 20-50% of all purchasing decisions, especially when considering a first time buy or something relatively expensive. (McKinsey)

But what does all of this mean for you?  Well, although purchasing decisions for your product or service are as complex as ever, a leading factor in your prospect's decision-making process is advocacy from their trusted sources. The question is, are you harnessing the power of your brand advocates to get these quality referrals?

There are a few quick steps you can take to building a customer referral program so you can start reaping the benefits of referral leads that, on average, are 4-10x more valuable than regular leads, resulting in shorter sales cycles, increased win rates, and larger order sizes (Influitive).

1. Find Your Advocates

Advocates, by definition, are consumers and business buyers who frequently recommend brands and products without being paid to do so (Zuberance). Those advocates should be highly trusted by your brand and/or have a substantial amount of influence over the market that you're selling to. But where do you actually get them?

2. Set a Goal

It's important to set goals for your program, even if it's brand new and you have no historical data to base it off of. A useful factor to consider could be the amount of referrals your business is getting organically. You might figure out this number by reviewing sales notes or talking to your marketing team to see how often someone mentions a referral or that they've been referred. Referrals might even be happening outside of the business all together, such as customers talking to prospects over coffee or through social media messages. If this number is non-existent or too difficult to figure out, set a relatively reasonable goal based on how many advocates you're planning to engage in the program and a conversion rate around 10% (Friendbuy).

3. Choose the Right Incentive(s)

It's common knowledge that trying to buy your brand advocates is bad news for your business. Paying advocates to promote your brand can get pricey and extremely inefficient in the long run. On top of the price tag and it's inefficiency, there's minimal trust in a paid to perform relationship where trust should really be a key factor. Instead, consider rewarding your advocates for their organic promotion of your brand.

4. Find Your Promotional Mediums

Now that you've got your advocates, your goals and your incentives all set up, it's time to decide where and how you're going to promote your program. Just like advocates are found in many different locations, so should your customer referral program. An email campaign is a great start but unless you're constantly reminding your customers (in a way that doesn't annoy them enough to stop opening your emails), then you're going to have to find a few more places to stay top of mind. Get creative and find out where your customers spend the most time or even pages they frequent for short periods of time.

5. Keep Your Tech in Check

The tech behind your program is easily overlooked or taken for granted, but it's going to make or break how you approach and manage referrals. Some key information and metrics that you should easily be able to keep track of include:

  • Who is referring who?
  • How far along in the sales process is a referral?
  • When did a referral become a customer (or not)?
  • Which of your promotional materials is working best (and worst)?
  • Which incentive should your advocate receive and when?

Building a customer referral program can be time consuming but if done well, the benefits are likely to far outweigh the costs. Just don't be afraid to try something new. Take charge and harness the power of your advocate community, today.

Source: https://blog.hubspot.com/customers/building-customer-referral-program

Additional Updates:
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  • Express: Mutual of Omaha weekly updates - View
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Tags: Referrals, sales advice, sales

8 Simple Ways to Get More (and Better) Client Referrals

Posted by www.psmbrokerage.com Admin on Mon, Sep 11, 2017 @ 03:46 PM

8 Simple Ways to Get More (and Better) Client Referrals8 Simple Ways to Get More (and Better) Client Referrals

I know some people who hate asking for referrals from their clients for fear of disturbing them or asking for “too much.” I understand the mentality, but I believe it is wrong.

When you get your clients to promote your agency in a simple and uncompromising way, it’s doing them a favor. Why? Referrals are what we might call social currency. We all like to recommend companies and quality products because it is a way to help each other.

Unfortunately, many insurance agents never properly prepare and train on how to request referrals in an effective and convenient way for both parties. This can lead to interactions like the following:

Agent: “If you are satisfied, could you maybe give me the names of three people who could also benefit from my excellent service?”

Customer: [uncomfortable pause] “Oh ... um ... well ... I guess you could call my ... I really don’t have phone numbers with me now ...”

Agent: “Sorry, but can you think a little harder about a few people before we end our meeting?”

I do not want your clients to lose the opportunity to make referrals, but at the same time, you shouldn’t have awkward conversations.

Here are eight ideas for generating great referrals:

  1. You must change your mentality. Stop believing that you are “asking for referrals” and imagine this instead:

“I am helping my clients increase their social status by facilitating the recommendation of an agency that is easy to work with, cares about clients and can save money for their friends.”

If you do not convince yourself of this, your problem may be more complex than simply needing referrals.

  1. A referral bonus program is a system whose goal is to give value to clients who refer your agency. You can include different ideas, but the most important thing is that it must be a standard procedure, replicable and easy to implement. Having this program offers many advantages.

» It will be easy to explain and replicate for your clients.

» You are less likely to have an unwanted referral.

» You can develop promotional material for your products (brochures, etc.).

» Your clients will have an extra motivation to refer you and will be more willing to do so.

  1. If your clients do not have your contact information with them, they will be unlikely to refer you to their acquaintances. Initially, be sure to be among your clients’ telephone contacts. Then meet their family members and also have them in your phone. Work on this until each member knows you.

Explain to your client the benefits of having their family members know your contact information in case of an emergency. This can even be done as early as the first sale.

To the client, it will appear that you will be available to them at all times. For example, if you sell a policy to the mother of the family and she experiences an emergency, it’s important for other family members to have your contact info.

  1. Make business cards with additional space to place “Referred by ___________.”

In the blank space, write the name of your client and give it to them to pass to their contacts.

  1. One reason why your customers hesitate to refer you is because they do not want to look bad if they recommend your services and you are not the right fit for that person.

Eliminate that risk by explaining the types of clients you serve and what you can offer them.

Be careful about describing your clients with a profile different from theirs, as it will make them doubt if they are with the right agency.

Here are two exercises that illustrate my point.

Exercise 1 — Ask your client: Excluding your co-workers or family, think of someone you know who would be happy to make sure their loved ones are protected, or to have a financial plan for their retirement. Take time until you have thought of someone.

Exercise 2 — Now think of a neighbor who would be happy to have those same services. The first question is more difficult to answer because the client will not know whom to refer.

The second question has fewer options, and I bet you yourself imagined your neighbor thanking you for helping them.

The point is, when you ask for referrals from your clients, ask them to think about a specific group of people from which it is easier to choose.

  1. The email signature is a block of text that automatically appears at the bottom of your messages. Most agents have their contact information and maybe a link to their website.

This block of text is a good place to request referrals, because your client will be reading the email and can forward the information to their contacts.

Use “Fwd my contact information” as your action message to remind the reader how to recommend you and above all, invite them to do so.

  1. When you receive referrals from a client, post it on your social networks for everyone to see while you thank the person who gave it to you.

This accomplishes many things. It shows how much you appreciate their confidence in you. This will increase your chances of getting more contacts, and your social media followers will be able to see this.

It also reinforces to your existing clients that other people are so happy with your services that they are inviting their friends to get to know you. This social test will improve customer perception and retention.

  1. LinkedIn has an interesting tool that can help you identify referrals. When you look at the profile of someone you do not have in your network and you are connected by a third person, LinkedIn will show you who that third person is.

This means that you can send a casual message to the person you’re connected by to request to be introduced.

Obviously, a lot depends on your relationship with that third person, but you never know what you can achieve by trying. Now it is my turn …

If any of the ideas presented in this article are useful and you know someone who might appreciate it, please share it.

You will be helping two people with a minimum of effort. Happy hunting. 

Source: http://www.insurancenewsnetmagazine.com/article/8-simple-ways-to-get-more-and-better-client-referrals-3355#.WbbtJ9J4eHs

Additional Updates:
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Tags: Referrals, Lead Generation

7 Strategies to Make Referral Selling Incredibly Effective

Posted by www.psmbrokerage.com Admin on Wed, Mar 16, 2016 @ 08:57 AM


Not every prospect is ready to jump in and do business with us right away. That’s why it’s so important for salespeople to remain professionally persistent with new prospects. Sales deals require multiple touches to close, so reps who give up after just one or two communications won’t see success.

But salespeople must be careful to balance their perseverance with good judgment, especially when referrals are involved. Here are seven critical things to remember when selling to referrals.


 7 Strategies to Make Referral Prospecting Incredibly Effective

1) Always be respectful.

Remember – These prospects have been referred or, better yet, introduced to you, so you must treat them like royalty. It’s not just your reputation on the line. Your referral source’s relationship with this prospect might also suffer if you act unprofessionally, and that’s a poor way to repay somebody who’s helped you out.

2) Leverage your relationship.

Use the information you learned about this prospect from your referral source to present and maintain a more compelling reason for them to move forward with you. When you tie your prospecting efforts to what’s most important to them at the time, you’re more likely to spark and maintain their interest.

3) Present yourself as an extra set of hands.

When approaching new prospects, present yourself as an “additional resource.” Avoid the appearance that you’re trying to replace any current relationships and your prospects will be more receptive to you. Even if they’re not happy with their current vendor, they may be stuck in inertia and not receptive to change. Coming in as an additional resource will be easier for them to consider.

4) Keep your referral source in the loop.

Your referral source can assist you in determining how persistent you should be with their friend or colleague. If you have trouble reaching your prospect or they seem unresponsive, let your referral source know. They will advise you how to proceed without hurting any relationships and will appreciate you considering their perspective.

5) Formulate an outreach plan.

Have at least five to seven touch points pre-planned for your prospecting efforts. You need to be flexible to be successful in sales, but it’s better to start with a plan than to make it up as you go.

Most salespeople give up after two or three attempts, even though study after study demonstrates that it usually takes five to seven contacts to bring your prospect to a decision. The best way to ensure your outreach sequence follows a logical progression is to plan it first.

6) Provide value in every touch.

In each touch point, provide some additional value. Compile a series of articles, videos, or links to other related resources that build on each other in a logical progression. You can include one of these resources each time you reach out to your prospect. By including information from sources other than yourself, you demonstrate that the value of knowing you goes beyond just your own expertise.

7) Go for the “no.”

If your prospect keeps putting you off after repeated (appropriately-timed, so you don't appear aggressive or needy) attempts to connect, it could be time to go for the no. Here’s an example of how I might approach a referral who wasn’t responsive:

Bob – I appreciate your willingness to continue to explore how I might become an additional resource for you. I get the feeling that perhaps you don’t see the fit and you’re too nice a guy to just say ‘no’ to me. Would you prefer that I stop contacting you at this time?

You should adjust this wording to fit your style, but you get the idea.

When you go for the no, one of two things usually happens.

You learn more information that allows you to adjust your approach and keep the courtship alive.

You are able to release this prospect and spend your time and energy with other clients and prospects.

Don’t wing it when it comes to being appropriately persistent with qualified prospects. And don’t give up too early. Have a plan, work the plan, and be flexible as you learn more information about the prospect along the way.

Source: http://blog.hubspot.com/sales/referral-selling-effective-strategies 

Additional Updates:

Tags: Referrals, Sales Strategies

Pinpointing the Right Time to Ask for Referrals (and How to Do It)

Posted by www.psmbrokerage.com Admin on Thu, Jul 30, 2015 @ 09:19 AM

Being excellent at what you do helps you attract new clients, but there’s a lot that you can and should be doing to set yourself up for referrals

It’s no secret that as a business you need to stay top-of-mind with your clients so that they can give you that sweet repeat business and even sweeter referral business — truly the gift that keeps on giving. Being excellent at what you do helps you attract new clients, but there’s a lot that you can and should be doing to set yourself up for referrals. Getting the ask or the timing wrong can mean losing your chance, so having a plan is essential.

Most business owners realize that referrals are critical to their bottom line. Adweek.com shared a survey that found that for B2B brands, referrals converted two times better than websites or social media. A Nielsen study found that 92 percent of consumers around the world say they trust earned media, such as word-of-mouth and recommendations from friends and family, above all other forms of advertising — an increase of 18 percent since 2007.

It’s no wonder experts say that referrals can be more beneficial to your success than advertising. Easier said than done, you say? We get it. We’ve all been there. You ask a client for referrals only to get an empty promise to follow up, or even a straight-up no. But know this: you are in control of the process and results of your referral ask.

Before you can ask for referrals, you must realize how important referrals are to your business, then commit to prioritizing them. Put the work in so that you can maximize your results; you’ll be glad you did.

Referrals don’t just happen.

Asking customers for referrals must become part of your routine. It must be a consistent business practice that becomes a natural part of your daily work. But before you make your first referral ask, you need to develop a strategy.

Author, trainer and former financial adviser Frank Maselli says many people use archaic techniques or just awkwardly ask clients for names. Instead, Maselli recommends changing the conversation and reframing your ask so you don’t sound like you’re requesting a favor. David Finkel, author of “Scale: 7 Proven Principles to Grow Your Business and Get Your Life Back,” says when most businesses talk about referrals, they are referring to word-of-mouth referrals, or what he calls “passive referrals.” Instead, Finkel recommends an active referral strategy.

Before you get started, take a look at a few of the popular resources we’ve created for what to do (and not do) when asking for referrals:

The first step in developing your strategy is to decide which type of referrals are best for your business by assessing what has and hasn’t worked for you and similar businesses in the past. There are three types of referrals:

  • Traditional word-of-mouth referrals
  • Testimonials
  • Online recommendations and reviews

 Keep in mind that word-of-mouth referrals are great, but for many industries, the power of an online referral can be more visual and permanent. Remember that 88 percent of consumers trust online reviews as much as personal recommendations.

 You will, of course, need to customize your strategy to your business’ specific requirements, but it’s helpful to begin with some best business practices in mind. Joanne Black, author of “Pick Up the Damn Phone,” offers the following advice:

  1. Understand what you are asking.
  2. Earn trust first.
  3. Be specific about what you need.
  4. Ask for action, not a contact.
  5. Get a commitment for a confirmation.
  6. Immediately thank your source.
  7. Follow up on the referral.
  8. Thank your source again.
  9. If you make a sale, thank your source again.

Timing is key.

There are no absolutes when it comes to timing except this one thing: your customer must be completely satisfied with your services or product. There are no referrals without happy customers. Asking an unhappy customer for a referral isn’t just a waste of time — it could further damage your reputation with them and their networks.

Getting the timing right can be tricky. Asking too early can make a bad impression, and asking too late can mean your request gets ignored. Experts say that the right time to ask for referrals varies by industry. The Small Business Administration advises business owners to: “Ask for referrals at a time when the customer is in a mood to give them.” While that’s true, it varies a bit from customer to customer. You want to be sure your customer is in a good mood, so catch them at a point when they’re satisfied with your service and are not in the throes of buyer’s remorse.

Ray Sliverstein calls referrals “the number-one tool in your tool kit. “Get in the habit of reaching for it often–say, as often as you might glance at your watch.” Silverstein advises businesses to follow up after the transaction with a thank you and a question: “Do you know anyone else who can benefit from my services?” Silverstein also recommends that when you begin working with a new customer, bring up referrals early. You could mention that you have a profile on Yelp, for example, or give the customer a few extra business cards to give to friends who might need your help.

In his Inc.com article, Finkel suggests creating referral systems, including a script that requests referrals at the point of purchase; as soon as the customer makes the purchase, thank them for their business and ask for the names of two people who would also benefit from their service. Another of his ideas is a “gift for your friend” campaign that uses gift certificates for the customer’s friends after the transaction is complete.

Referral strategies vary, but an analysis of the advice experts give shows that the best time to ask for referrals is immediately after your successful transaction with them is complete.

For a real estate agent, this could mean getting permission from your client for a Facebook post of a congratulatory photo of you at closing on your new dream home. This way, all of the client’s friends and their friends see your success, and those who need your service can easily find you.

For more transactional businesses, like HVAC repair, plumbers, salons, spas, etc., offering a small discount for a quick Yelp or Google review before a customer pays would be an easy way to get the word out to people who are searching for your service — and reputation — online.

Obtain a referral in 3 easy steps.

Here is how the experts say you get it done, step-by-step: 

Step 1: Do your homework. Determine what has worked for your business and others like yours. You could ask your client for referrals before or after you complete your work. You could send an email immediately after your transaction including an easy way to post a review on a social media site or other website.

Step 2:  Deliver exceptional service, ensuring that your customer is happy — so happy that they will share their love for you with their friends.

Step 3: The moment a customer compliments you, accept the compliment and thank them, then make your referral ask. Be polite and direct. Make it easy for them, and thank them for their business — and referrals.


Bringing it all together, it’s important to remember a few things about referrals. First, you are the driving force behind your own success. Do good work and be specific about what you want from your clients. Second, time your ask appropriately. Make sure that your job really is done. And lastly, make it a habit. The more you do it, the more natural this process will be in the future.


Source: www.outboundengine.com

Additional Updates:

Tags: Referrals, Business, Word-of-Mouth

10 Great Ways to Generate Sales Leads

Posted by Guadalupe Cantu on Fri, Oct 25, 2013 @ 07:52 AM

Medicare Supplements Every successful advisor has one thing in common that continue to keep their business growing. They ensure to keep a healthy stream of leads flowing into their pipeline. How do they do keep the influx of leads coming in? Is it a “secret” they keep safely guarded? Below are great lead generation tips successful advisors use to stay on top of their game.

  1. Network. Join a network within your industry and stay active in local business chapter. Become involved in local seminars that speak to potential prospects. Focus on quality of the network and not the quantity. Concentrate on developing referral partners to work with.

  2. Build referrals partners. Build a professional relationship based on trust and reputation with fellow professionals. Ask for recommendations for referrals. Return the favor and see your referrals gain grown.

  3. Build your reputation as an industry leader. Get involved and join a local service association that you may enjoy; such as, the local Chamber of Commerce, insurance professional association or even a church. These may not be immediate sales leads, but can be a great source for the long haul.

  4. Ask your clients. Ask your existing clients to introduce you to one or two people who fit your client profile. Your client may be your most valuable lead generating asset.

  5. Build a foundation. Focused on your goals and develop your personal brand identity: a trusted, well recognizable brand will lead to prospects.

  6. Develop and maintain an online presence. Sign up and make good use of social media outlets like Facebook, LinkedIn and Twitter. Be consistent and post valuable information and promote benefits. Tell prospective leads what you can do for them.

  7. Learn from your competitors. Look at what they are doing and what has been working for them. Implement those methods onto your own organization.

  8. Focus and target your audience. Identify what their needs are. Once this has been determined, then the marketing message and campaigns can be tailored accordingly. Do the same to the other product lines, identify, categorize, customize, and so on. Soon, your hard work will pay-off, and you will see leads building up.

  9. Commit and stick to a plan. Commit...Commit…Commit… It can’t be overemphasized. Always stick to your plan and don’t drift away. Advisors can always build life insurance leads through website, emails, telephone calls, and referrals program.

  10. Invest in lead programs. Invest in Customer Relationship Management systems (CRM) that help manage an organization current and future customer sales leads.

Please give us your feedback!
Question: What steps have you taken to build your sales lead? How has it changed your business?


Source: LifeHealthPro

Additional Updates:
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      November 2013 Med Supp rate release for IL, TN, CO, MT, UT. Learn More

      - November Med Supp Outlines for IL. Learn More

      - November Med Supp Outlines for TN. Learn More

      - November Med Supp Outlines for CO. Learn More

      - November Med Supp Outlines for MT. Learn More

      - November Med Supp Outlines for UT. Learn More

    • 2014 Medicare Advantage and Part D Certifications are now available! Learn More

Tags: Referrals, Leads, Creating Value, Professional Networking, Advisor, Sales Leads

The Basics: Converting Referrals to Clients

Posted by Guadalupe Cantu on Fri, Oct 04, 2013 @ 01:57 PM

Medicare Supplements Every business loves to get referrals. Whether they are by word of mouth, email campaigns, an online request form or simply a call, many businesses are unable to convert those referrals to clients despite having an effective marketing plan.

One reason referrals fall through the cracks is because many advisors fail to have a referral process in place. The referral process does not need to be complex. It can be an easy process that requires very little work and effort to keep the documentation flow in check.

Keep in mind, there is a 24 hour window to initiate contact and to increase your chances to convert them into a client; here’s how to get started… Soon after a referral is received make sure it comes in with all the required contact data; such as, name, telephone number, email address, and request information. Once verified; initiate contact through a telephone call or email to set up a time for an appointment or to simply find out what the referrals needs are.

Enter the referral information into a database. This will become very useful to keep track of the referrals relationship with your organization’s business and activities.

If the referral came from a professional acquaintance, send them a thank you gift or a personal note, thanking them for the referral. It’s a good business practice to keep in touch with them and give them updates of the referrals status.

Don’t give up or disregard the referral if your call or email was unsuccessful the first time around. Make follow-up calls, at least twice a week, until contact has been made or until the referral has decided to become a client.

Just remember, the referral process does not have to be complex. It is easy to setup and implement; and has been used by many organizations with success. With a little consistency and patience, any business can benefit by it.

Please give us your feedback!
How does your business referral process fare? Are there areas that may need improvements?


Source: LifeHealthPro

Additional Updates:
    • Oxford Life Med Supp New Product Release in MT, SD
      October 2013 Med Supp rate release for MT. Learn More

      October 2013 Med Supp rate release for SD. Learn More

    • 2014 Medicare Advantage and Part D Certifications are now available! Learn More

Tags: Clients, Request, Email, Email Campaigns, Success Tips, Customer Retention, Referrals, Customer Service

Roadmap to excel as an advisor

Posted by Guadalupe Cantu on Fri, Aug 16, 2013 @ 12:48 PM

Medicare SupplementsRunning a business can be a daunting task; even more so, if the business has been running on survival mode for the last couple of years. Everything that has been tried to ensure success has returned nothing but disappointment.

What went wrong? Why is the business only hanging by a thin thread? The business has a marketing plan in place and a large budget to focus on traditional and new media techniques; such as, direct mail, radio, emails, and search engine optimization (SEO). Plus, it offers a wide range of products that the public wants. Yet, nothing seems to work!

For many advisors, it is hard to see that the problem comes from poorly designed marketing campaigns. Too often, advisors are too eager to sell their product. They focus on getting one message out to the masses, and expect to see a great influx of leads to be quickly converted into sales.

Instead, focus on the targeted audience and identify what their needs are. Once this has been determined, then the marketing message and campaigns can be tailored accordingly. Do the same to the other product lines, identify, categorize, customize, and so on. Soon, your hard work will pay-off, and you will see leads building up.

Engage them further, once the prospect has made contact; follow up with a call, invite them to a free event, offer a free report or direct them to informative video feeds on your website. These little actions will help keep the dialogue open and help ease their decision into becoming a new customer.

Just remember by building an effective marketing plan that will allow you to identify prospects needs, match them with the proper product line, and build a system to engage them and follow up, you should be well on your way to the road to excel as an advisor.

Question: Do you feel your business is hanging by a thin thread? Would revamping the marketing approach help your business move in the right direction?

Please give us your feedback!
Do you feel your business is hanging by a thin thread? Would revamping the marketing approach help your business move in the right direction?


Source: LifeHealthPro

Additional Updates:
  • Gerber Insurance: September 2013 Med Supp rate adjustments AZ, IA, MI, OK, SD, TX Learn More
    • September 2013 Med Supp rate adjustments AL, KY, and Med SELECT AL, OK, TX Learn More
    • October 2013 Med Supp rate adjustments CA, NC, ND, OH, PA Learn More
    • October 2013 Med Supp rate adjustments WI Learn More
  • Assured Life Association/Woodmen of the World: October 2013 Med Supp Rate Adjustment for OH, WA, and Med SELECT for OH. Learn More
  • 2014 Cigna PDP Training and Certification - Learn More
  • Everence Agent Training Webinar Aug 14 - Learn More

Tags: Insurance advisor, Senior insurance, Sales Tips, Success Tips, Web Marketing Advice, Web Tips, Health Insurance, Referrals, Creating Value, insurance companies, Advisor

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