Many insurance agents rely heavily on conducting group meetings to grow their sales numbers. Why? It is possible to present products to many people at one time, saving in travel expenses and appointment times. However, we are seeing a consistently lower return for agents in the Medicare market from these types of meetings.
Why are these meetings seeing declining returns, while educational meetings are seeing far better results? I’ve got some ideas that may help you decide on how to structure your 2013 marketing strategy.
Information is Everywhere
People today, even Medicare recipients, have instant access to information through the internet. Need an answer? Google it. With more and more Medicare recipients having internet access (specifically the T65 crowd), consumers access to information is significantly higher than just the Medicare & You book.
Consumers are Tired of Being Sold
The average person is exposed to over 5,000 advertisements per day, through a multitude of mediums. Consumers today are preconditioned to either tune out or discard advertisements as soon as they are presented. In order to gain a consumer’s attention, the offer has to be something they are truly interested in.
So how does this relate to educational meetings, and why they are helping agents generate higher sales numbers? Educational meetings for Medicare recipients give agents the ability interact the consumers while accomplishing a couple of key goals.
Provide Interpretation and Clarification
While the “Internet Age” has provided a limitless stream of information, it is decidedly short on providing targeted interpretation that answers specific consumer questions or situations. Imagine looking for a phone number in the yellow pages, but the entries weren’t alphabetized. That is often the situation presented to a consumer looking for situational information. Agents holding educational meetings can provide that type of interpretation, which has immense value for the consumer.
Build Credibility by Asking for Nothing in Return
The CMS compliance guidelines on educational events actually work in the agent’s favor, when considered correctly. The restrictions on information collection, as well as the presence of sales materials, allow agents to stay focused on presenting information as well as insight. Agents who are conducting educational events will build immense credibility with the consumers because they won’t ask them directly for an appointment, or to make a purchase.
Our agents who are conducting educational meetings are finding those in attendance will seek them out, either at the meeting or directly after, to set up time for a future appointment. With the assistance that Neishloss & Fleming can offer – which includes free mailing data, postcard creation, and seminar presentation materials – any agent can take advantage of this growing opportunity to increase their client base.
To most people, young and old, a little personal attention and willingness to go the extra mile make all the difference. Agents who hold sales meetings are able to offer this personal service and as a result get more sales! Great article Bill!