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Five Tips to Up Your Medicare Sales Performance

Posted by Paul Rose on 6/14/21 12:01 PM

Medicare Sales

More than 10,000 seniors age into Medicare each day. During the last enrollment period, 36% of Medicare beneficiaries enrolled in a Medicare Advantage plan, an increase of 9% compared to the previous year, according to the American Journal of Managed Care.

As a Medicare insurance agent, you don’t have to worry about a shortage of prospects – but you do have to worry about competition. There are many other agents out there competing for the same clients, and as we covered recently, some of them have splashy commercial campaigns. If you want to succeed in getting your piece of the Medicare sales pie, you’ll need to up your game.

1. Be Professional

If you show up to an appointment in sweatpants and spend the appointment chewing gum while you scroll on your phone, you’re not going to make a very good impression. Look and act professionally.

If you’re meeting a client using video conferencing, the same rules for professional clothes and behavior apply. You should also make sure you have good lighting and that you’re not showing a messy room behind you. If you are working from home, take precautions to minimize interruptions including barking pets or a knock at the door.

2. Be Prepared

An important part of professionalism is preparation. You might feel overwhelmed and exhausted, but you don’t want your clients to see this. Make sure you have everything you need organized in a way that makes it easy to find. That includes important paperwork, but it also includes things like your business card and a pen.

Also make sure you’re mentally prepared. You should know what you’re going to say, and you should anticipate common questions so you’re not caught off guard.

3. Manage Your Time

You should show up on time for your appointment – but that’s just the beginning. You also need to manage time well during the appointment to make sure you can cover everything you need to cover without feeling rushed. Then you have to manage your time after the meeting to make sure you’re following up. Using a good CRM, like AgencyBloc, can help.

4. Manage Referrals

Referrals are a great way to grow your business. However, as a Medicare agent, you need to be careful about compliance with CMS rules. This means you can’t just ask your clients for their friends’ phone numbers or promise them a quid-pro-quo gift if they get their friends to sign up with you. You should, however, make sure you always have extra business cards on hand and keep track of referrals and gifts. See this article on developing a compliant referral program for more details.

5. Think Like an Entrepreneur

As an independent agent, you’re not just earning a living – you’re managing your own business. You’re responsible for recruiting and growing your business. To achieve lucrative commissions and reach the top, you have to stand out and show your value. If you’re a solo agent, consider forming an agency to take your earnings to the next level.

A Good FMO Makes It Easier

Wherever you are in your career, you don’t have to figure it out all alone. A good FMO can provide you with the tools, training, and leads you need to succeed.

Here at Western Asset Protection, we offer the Medicare Engine, the Medicare Academy, the Medicare Library, WAPCon and more. We carry the training and compliance load, so you focus on growing your business.

Contact us to learn more.

Topics: Medicare Sales

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