With many agents targeting the Turning 65 market through direct mail marketing, one of the key questions that we get is about when to send these lead mailers. While is there is no hard and fast rule about this, we’ve found that there have been some common factors to agents who’ve had success in converting the lead responses into sales.
Mail out 90 days before the Medicare Part B effective date
How early is too early? Our analysis of lead response and conversion shows us that mailing 4 months ahead or earlier reduces the actual lead response rate significantly. Think about it – Are you extremely motivated to spend a lot of time for something 4, 5, or even 6 months down the road? While conversion rates on the response you do get are decent, the return rate is just too low outside of 90 days.
Mail out 1 month worth of mailers at a time
How many is too many? Many agents have told us that there is a point where they are less effective at managing their lead responses, and usually that point comes when trying to manage 2 or more months’ worth of lead responses. Consider – once you get a lead response card you need to:
- Get the consumer on the phone
- Introduce yourself and book an appointment
- Conduct a sales presentation
- Continue to manage your existing business
This usually becomes difficult to do when trying to manage multiple months’ of lead responses.
Stay consistent with your mailings
Agents who are having consistent success with converting Turning 65 leads are also the ones who are consistent with their mailing programs. Once they start mailing, these agents continue to drop similar numbers of mail pieces each month in order to have a steady stream of consumers and appointments. It’s easy to get discouraged if a mailing comes back with a less than stellar return. However, chances are just as good that the following month’s mailing will have a higher return to make up for it.
There are no magic solutions in the lead generation game, but in order to reach Turning 65 consumers direct mail is usually the best – and most compliant – way to reach them. Following these quick tips will certainly help make the most of your marketing dollars.
Asking is the key and lead programs are the answer! If you never ask, the answer will always be no because there is nothing to respond to. And as Bill said, timing is everything with lead management and is the key to getting the most out of your efforts.