According to recent data from AARP International, every day, approximately 10,000 individuals turn the age of 65. This age is the magic marketing number for medicare insurers across the country.
Do you have a plan in place to capture this vital demographic?
The stats don’t end there.
More than 63 million consumers are already enrolled in medicare programs.
Yet, just because they’re already enrolled, doesn’t mean they aren’t on the hunt for something more. On the contrary, they’re thinking even more about additional coverage as they start thinking more seriously about their health.
Yet, generating medicare insurance leads isn’t just about the numbers. It’s about lead quality.
In this guide, you’ll learn how to identify, attract, and convert high-intent medicare leads.
Understand Your Medicare Products
Before you start generating medicare and supplement plan leads, you need to understand your products inside and out. You have a limited amount of time to turn a lead into a qualifying prospect. Product knowledge is vital.
Seniors 65 and over already qualify for medicare coverage, but as you (and they) know this plan doesn’t cover everything. That’s where supplement plans come into play. Supplement plans are also known as Medigap plans since they fill in the gaps lacking in traditional Medicare coverage.
Several healthcare carriers offer supplemental medicare coverage, from Aetna to Humana. Supplement “Medigap” plans fall under categories “A” through “N.” There are also “Medicare Advantage” plans for seniors with Medicare part A or B plans. Medicare part D provides extra prescription drug coverage.
Depending on their needs, senior consumers can receive additional coverage for skilled nursing facilities, preventative care, foreign travel emergencies, deductibles, and more needs.
Medicare insurance leads often need help comparing Medigap plans; for example, Medigap Plan C covers skilled nursing facilities, whereas Medigap Plans A and B don’t provide that coverage. Currently, all Medigap plans cover hospital costs up to one year after traditional Medicare benefits are spent.
This is just a sampling of the many details insurance agents must know in order to convert leads into Medigap consumers. The more you know, the easier it is to build trust with high-intent consumers. Ensure you have a confident knowledge base before launching your marketing campaigns.
Work With an Experienced Insurance Marketing Partner
Every marketing dollar counts.
Your next step is to partner with an insurance marketing provider that can deliver and attract high-intent Medicare consumers. Look for something more than just a list of Medicare leads; work with a company that can actually position marketing campaigns designed to convert.
Every consumer goes through a journey when purchasing a product. The same is absolutely true for Medicare consumers. A buyer’s journey is the steps consumers walk through to make a final choice. It’s consumer psychology.
Insurance marketing partners know how to attract buyers at every stage of the journey. Even better, they track and analyze data every step of the way. Analytics reveals performance metrics and opportunities in real-time, helping agents make the most of each lead.
You don’t have to worry about wasting your marketing budget on leads that go nowhere. As an example, RPM leverages an AI-driven qualification scoring system that reveals the highest quality leads in real time. This strategy ensures leads are engaged at the peak of their buyer journeys.
With the help of a marketing partner, agents aren’t left sifting through stacks of leads to find qualifying prospects. Campaign management is built into the partnership. This gives agents more time to write insurance policies and close the deal, increasing their conversion rates.
What Types of Marketing Campaigns Work For Medicare Sales?
You have a solid product knowledge base, but how well do you understand your target consumer?
Creating a Medicare insurance consumer profile is vital for campaign strategy. Consumer profiles reveal which channels attract, inform, and convert the best.
Seniors 65 and older aren’t logging onto Instagram to research Medicare gap coverage.
If you’re investing in social media, they’re far more likely to look for information on Facebook. They’re typing searches into Google, checking their email, and calling companies directly.
Aligning your campaigns with the consumer behaviors ascribed above is called inbound marketing. The buyer’s journey also follows this path. Today’s seniors are more proactive in their quest for Medicare information.
However, this demographic still responds to cold calls, especially when they’re at the peak of the buyer’s journey. You don’t want to waste those opportunities.
A data-driven insurance marketing partner is also helpful at this stage of the game.
For example, RPM delivers marketing experiences tailored to your consumer demographic. Plus, agents and carriers can sync the customer relationship management (CRM) system with their own sales strategy.
By helping you automate your marketing strategy, RPM can route calls to agents while logging real-time data for analysis. Viewing performance metrics in real-time also visualizes the buyer’s journey for each lead. Analytics also reveals which strategies are hitting the mark and which parts need work.
Even better, RPM verifies high consumer intent before transferring leads to live agents. Thus, agents save a considerable amount of time while carriers save money.
By accessing a pay-per-call marketplace, agents don’t have to spend time on cold calls that go nowhere.
Call Leads are verified for quality first. Carriers only pay per every high-intent call. This payment model is an asset to smaller, independent carriers looking to grow their business among larger carriers.
Inbound calling is vital to Medicare marketing strategy. Agents need a plan of action when they pick up the phone.
Having a foolproof script ready with action items wastes less time. Marketing partners like RPM also provide vital consumer data, giving agents plenty of information to work with at the time of the call.
Working with a marketing partner helps agents work even faster in an industry that’s already so high-paced.
Start Generating High-Quality Medicare Insurance Leads
It’s time to optimize your Medicare lead generation strategy for success. Start prioritizing high-intent leads by leveraging product knowledge, strategic campaigns, and experienced marketing partners.
RPM wants to help make your strategy a success.
Learn more about our insurance marketing solutions or contact us right now to start acquiring and converting more Medicare insurance leads.