Selling Medicare, Life & Health Plans in a Retail Setting... Good Deal for an Agent?

[kgmom219]

OK, I have a different perspective.

I think this is a FABULOUS idea for a new agent. One, the training will help a lot. Two, any activity generates more activity. Three, a new agent has a lot of dead time anyway. Spend 2 days a week retail, then the other 3 days selling.

I actually talked to one of these guys this fall. It was in a Walgreens. Told him what I did, asked how this worked, blah, blah, blah. He said that he's been doing it 3 years, FT during Oct 15 to Dec 7. And its just like anything else. Sometimes it works, sometimes it doesn't. But his renewals are at $40K (so its probably $30K, since most agents exaggerate). And he's learned a lot doing it. Plans on stopping after next year. But this way, he's got a renewal stream coming in when he goes all in as an independent.

What have you got to lose? Sign up for 2 days a week and if you hate it, quit. Just one more idea that didn't work. How many times do you thing the successful agents on this board tried a marketing idea that didn't work before they found their niche?

 

[vic120]

OK, I have a different perspective.

I think this is a FABULOUS idea for a new agent. One, the training will help a lot. Two, any activity generates more activity. Three, a new agent has a lot of dead time anyway. Spend 2 days a week retail, then the other 3 days selling.

I actually talked to one of these guys this fall. It was in a Walgreens. Told him what I did, asked how this worked, blah, blah, blah. He said that he's been doing it 3 years, FT during Oct 15 to Dec 7. And its just like anything else. Sometimes it works, sometimes it doesn't. But his renewals are at $40K (so its probably $30K, since most agents exaggerate). And he's learned a lot doing it. Plans on stopping after next year. But this way, he's got a renewal stream coming in when he goes all in as an independent.

What have you got to lose? Sign up for 2 days a week and if you hate it, quit. Just one more idea that didn't work. How many times do you thing the successful agents on this board tried a marketing idea that didn't work before they found their niche?

The thing he has to lose is contacting with a suspect FMO, Also 30K after 3 years is not good.

You could probably get a booth without them anyway though

 

[Todd King]

OK, I have a different perspective.

I think this is a FABULOUS idea for a new agent. One, the training will help a lot. Two, any activity generates more activity. Three, a new agent has a lot of dead time anyway. Spend 2 days a week retail, then the other 3 days selling.

I actually talked to one of these guys this fall. It was in a Walgreens. Told him what I did, asked how this worked, blah, blah, blah. He said that he's been doing it 3 years, FT during Oct 15 to Dec 7. And its just like anything else. Sometimes it works, sometimes it doesn't. But his renewals are at $40K (so its probably $30K, since most agents exaggerate). And he's learned a lot doing it. Plans on stopping after next year. But this way, he's got a renewal stream coming in when he goes all in as an independent.

What have you got to lose? Sign up for 2 days a week and if you hate it, quit. Just one more idea that didn't work. How many times do you thing the successful agents on this board tried a marketing idea that didn't work before they found their niche?

A new agent shouldn't have dead time. I know they do, but just the fact that they are new they should be doing something with that time. Prospecting, reading and learning, anything that would help them improve and make money.

 

[kgmom219]

A new agent shouldn't have dead time. I know they do, but just the fact that they are new they should be doing something with that time. Prospecting, reading and learning, anything that would help them improve and make money.

Isn't working a booth doing all 3 of those? Plus, it makes you more productive on the days you aren't working the booth. My two cents.

 

[rousemark]

A new agent shouldn't have dead time. I know they do, but just the fact that they are new they should be doing something with that time. Prospecting, reading and learning, anything that would help them improve and make money.

And an old agent should not have dead time.... but I do..

 

[somarco]

And an old agent should not have dead time..

You probably could have phrased that better . . .

 

[sman]

A new agent shouldn't have dead time. I know they do, but just the fact that they are new they should be doing something with that time. Prospecting, reading and learning, anything that would help them improve and make money.

Yes, new agents have dead time because they don't know what to do. Add call reluctance into the mix, and they find busy work that is unproductive. Heck, I do that still. The difference is I have a good size book of business where all my bills are paid, vacation, retirement savings, etc. whether I sell anything today or not. Of course, that hasn't always been the case.

But I can't see me sitting at a Walmart/Walgreen's. I'm just not cut out for that. Sitting there mindlessly waiting on someone to come speak to me. More power to those who can and make it work.

 

[gregj]

I don't think I have ever heard of Humana agents getting rich sitting in a booth in Walmart.

Once Walmart's purchase closes, they'll sign up unwitting Medicare eligibles right in their checkout lines: "You want health coverage with that, honey? No, I don't need any other info we don't already have on you..."

 

[Todd King]

Isn't working a booth doing all 3 of those? Plus, it makes you more productive on the days you aren't working the booth. My two cents.

Not the way I see it. Can the make phone calls (prospecting)? Can they pull something up on their computer while they are sitting in a booth? Can the really get into reading something without worry of missing a passer-by? Nah, I see it as a limiting thing altogether.

Not only that, but I'm yet to see an agent that actually wants to continue doing that year after year. Or, at least not many of them. The booths just aren't worth an agent's time.

 

[StephanieCJ]

I am a fairly new agent, and I actually did have a Walmart booth this last AEP so I'll throw in my two cents. For a new agent, looking to prospect on a budget this can be great. My investment was $250 ($500 initial and $250 reimbursed as long as I showed up for the shifts that were scheduled-I got to make the schedule and minimum 20 hrs. a week). I ended up making almost $10k on my sales from the Walmart booth (not the rest of AEP sales, just the booth). It provided a good networking opportunity as I have since received referrals from their staff. I did use this as someone mentioned above as a prospecting tool and used it to set up appointments, not conduct them.

As for doing this M-F 9-5---I would shoot myself first. I will probably do it again next year during AEP, but after that, it wouldn't pay off because my referral base is growing at a consistent rate and I would have no need to twiddle my thumbs at Walmart for 4 hr shifts. It is incredibly boring and outside of AEP, I simply cannot imagine there would be enough traffic to compensate my time.