AEP Retention Letter

[PaBroker]

Every year during the last days of September I send out a retention letter to existing clients. I remind them to call or email me, and let me know if their meds and doctors have changed and I'll keep them updated with the new stuff. It's worked fine for me, but now my letter is kinda stale and I'm looking for some different approaches.

Does anyone have any favored approaches for retention letters? This year I'll be sure to let everyone know to turn off the TV when they see Joe Namath. Not sure I can handle another call inquiring 'How do I get my $148 back?"

 

[somarco]

Everyone is different, but if you only "touch" your clients once a year you are missing some real opportunities.

I send out a monthly (email) newsletter. I usually miss a month or two but they get 10 or so per year. Almost every one generates feedback and a referral which usually results in a sale.

You can waste a lot of time and effort "warning" them about garbage Broadway Joe ads. If you lose a client to that kind of pitch you haven't done enough to create value in the eyes of your clients. I get calls and emails about the Namath ads. Most start out with "Is this a scam?"

My newsletters often include updates in the world of Medicare and I try to make them "non-political". Unfortunately it is getting tougher to reference a trending topic without taking sides.

My clients are resistant to change, sometimes to their detriment. I used to spend way too much time running preemptive PDP reports but stopped that because so few were willing to change. Now I do what I can to inform and advise them but wait for them to initiate looking for a different plan.

My client retention rate (other than death) is 99%. No F2F client/prospect interaction. All phone & email.

 

[MedicareAgent]

I send a letter a few times a year.
I make sure my aep letter is postmarked Oct 1, it is as follows:
If you have aetna, here are your changes, if you like it, let it roll, if not call me
if you have uhc, here are your changes, if you like it, let it roll, if not call me
etc with each company.
I advise them to never call numbers on tv, they are all call centers and they are not
needed because you have me to give you personal attention to your individual needs.
My book stays put

 

[bekahsack]

Every year during the last days of September I send out a retention letter to existing clients. I remind them to call or email me, and let me know if their meds and doctors have changed and I'll keep them updated with the new stuff. It's worked fine for me, but now my letter is kinda stale and I'm looking for some different approaches.

Does anyone have any favored approaches for retention letters? This year I'll be sure to let everyone know to turn off the TV when they see Joe Namath. Not sure I can handle another call inquiring 'How do I get my $148 back?"

We've developed a letter like this that we'll be publishing in about two weeks on our site (calling it AEP Marketing Kit, has emails & social media posts), but the gist of the letter is:

-Our goal is to have smooth annual reviews
-Please register for a myMedicare.gov account if you haven't already
-We will schedule a meeting with you this fall to review your options – the meeting takes less than 10 minutes
-It is wise to never respond to a TV commercial, junk mail ad, or telemarketing solicitation. Please call us if you have questions about your coverage for next year.
-Thank you for your continued trust in us
-P.S. Your Med Supp policy is not affected by the fall enrollment period.

 

[kgmom219]

I do handwritten thank you cards in January. Fourth of July Cards. And part of the sales process is that they know they will get an email on 9/15 that says "Its that time of year" and send me your drug list. 10/1, they get an email with a link to schedule a call. Each year, more and more people are saying "Can we just do an email?" Thank goodness. Retention hovers at 98%.

My biz is 99% Med Supp. Most of them are on Blue or UHC for the rate stability. If they are on anyone else, we stay on the top of the rates and review the numbers. Or if they are on Blue or UHC and have hit 70-ish and can get through UW, we have that conversation. I'm expecting to move my Cigna book this year, assuming Cigna introduces the "new and improved" Cigna for 2022.

 

[Travis Price]

I do handwritten thank you cards in January. Fourth of July Cards. And part of the sales process is that they know they will get an email on 9/15 that says "Its that time of year" and send me your drug list. 10/1, they get an email with a link to schedule a call. Each year, more and more people are saying "Can we just do an email?" Thank goodness. Retention hovers at 98%.

I do thank you notes when they call in as a prospect with a letter opener (I write something clever like, "This will help avoid paper cuts from all that Medicare mail you get."

When they buy, I send a branded coffee mug and another thank you letter.

Every time they call I send a summary of our conversation to their email.

Then pre AEP email. And schedule call. I think I'm going to incorporate the January thank you that you do too!

 

[LostDollar]

In regard to cards, is the following something insurance agents discuss as a way to get call-ins from clients?
( I am trying to decide if an insurance agent is playing games with me or just had a staff person using the company equipment for personal business.)

I have purchased a policy from this agent so I am in his BOB. He has inhouse color printing ability. His printer will address envelopes in handwritten script.

I received a card. The envelope was addressed specifically to me. The return address was his correct business address. The card was a thank you card. It was inscribed to 4 people, probably two adults and two children. No-one by those names in this household. It was a thank you for a cutting board. No gift like that has gone out of this household. The printed recipient names are not the names of the agent or his assistant who called me on policy followup.

Is this a clever gimmick agents use to get unsolicited call-ins from clients (you made a mistake) or is there a third back-office person invisible to me who was doing some personal printing and accidentally put my name on the envelope? (There was another legitimate office printed card --on a different topic-- from the same agent to me in the same day's mail-which increases my suspicion that there is some contact game he is playing with me that I do not understand.) (or I suppose it is remotely possible the third office person could accidentally have used a company mailing list instead of their own personal thank you mailing list.)

 

[goillini52]

In regard to cards, is the following something insurance agents discuss as a way to get call-ins from clients?
( I am trying to decide if an insurance agent is playing games with me or just had a staff person using the company equipment for personal business.)

I have purchased a policy from this agent so I am in his BOB. He has inhouse color printing ability. His printer will address envelopes in handwritten script.

I received a card. The envelope was addressed specifically to me. The return address was his correct business address. The card was a thank you card. It was inscribed to 4 people, probably two adults and two children. No-one by those names in this household. It was a thank you for a cutting board. No gift like that has gone out of this household. The printed recipient names are not the names of the agent or his assistant who called me on policy followup.

Is this a clever gimmick agents use to get unsolicited call-ins from clients (you made a mistake) or is there a third back-office person invisible to me who was doing some personal printing and accidentally put my name on the envelope? (There was another legitimate office printed card --on a different topic-- from the same agent to me in the same day's mail-which increases my suspicion that there is some contact game he is playing with me that I do not understand.) (or I suppose it is remotely possible the third office person could accidentally have used a company mailing list instead of their own personal thank you mailing list.)

Sounds fishy. I suspect the CCP.

 

[LostDollar]

Sounds fishy. I suspect the CCP.

 

[Bill_Kiray]

Have you considered recording a video message to your clients, and then placing a QR code on the letter/postcard/newsletter you send out? Many of our agents started doing that last year with good success. One of the byproducts of COVID is that so many people learned how easy it is to use a QR code because many restaurants stopped using paper menus.

The video doesn't have to be anything crazy, could simply be a selfie video talking to your clients about these same items the other posters are suggesting. The key is getting your face back in front of all of your clients pre-AEP.

If you're not sure how to do it, we can help you. It's pretty easy.