What is Your Key to Marketing?

[wildcat]

I disagree. Health Care reform may have a profound effect on Medicare. Currently, there is no cap on the out of pocket for Medicare. The 20% goes on forever. The hospital deductible can be applied 6 (actually 7) times a year.

Obama wants a limit to the out of pocket that an insurance company can charge and I assume, the same would apply to a public plan.

It would not be fair that a 64 year old has a cap but a 65 year old on Medicare does not. I suspect the cap will apply to all rendering Med Supps next to worthless.

Rick

So Rick, even with medicare cuts looming, you think the 'reform' will produce an OOP max for medicare? I don't know how that would add to total medicare costs, although it seems like it would be substantial.

 

[Frank Stastny]

I disagree. Health Care reform may have a profound effect on Medicare. Currently, there is no cap on the out of pocket for Medicare. The 20% goes on forever. The hospital deductible can be applied 6 (actually 7) times a year.

Obama wants a limit to the out of pocket that an insurance company can charge and I assume, the same would apply to a public plan.

It would not be fair that a 64 year old has a cap but a 65 year old on Medicare does not. I suspect the cap will apply to all rendering Med Supps next to worthless.

Rick

I think you are projecting so far into the future that is isn't likely going to take place in your lifetime. Opps, I forgot, you are getting way "long in the tooth".

You are not looking at the implications of what may probably happen if that takes place. Right now a senior is paying nothing for Part A and only $90+ dollars for part B.

Do you really want, and do you think seniors really want and will stand still for, dramatic increases in the Part B cost and be willing to pay a substantial amount of money for Part A of Medicare?

I know, everyone is assuming that the govt will pick up the additional cost. Hell, they say Medicare is "in trouble" now. I think it is a pipe dream that all of that will happen and the govt. will pick up the cost.

That is why "god" invented Medicare Supplement policies.

 

[gentlerain]

The first step is to identify why seniors would want to do business with you i.e. what problems are they facing that you offer solutions for.

Next I would either prepare a short report or video that expresses your understanding of the problem, shares some alternative (but less desirable) options and concludes with why your programs are the preferred solution.

Promote the report via a postcard mailing and offer the option of either going to a website (my 88 year old Dad's on the internet all the time so don't necessarily believe that seniors aren't computer literate) or calling for the information.

That will give you a list of those who are interested and then you can spend your valuable personal time following up with them. That's a lot better than just randomly smiling and dialing and hoping you get lucky.

 

[Frank Stastny]

The first step is to identify why seniors would want to do business with you i.e. what problems are they facing that you offer solutions for.

All of the rest of what you said sounds very cool and appears to be a very logical approach. It would be very helpful if you told us what kind of insurance you are talking about.

Since you haven't identified what products you are referring to, for the sake of this response, I am going to assume you are talking about Med Supps. That is the most popular "senior product".

If you are doing all of that simply to try to sell Med Supps you are way over thinking it and spending way too much money and time.

The only reasons seniors may be interested in hearing what you have to say is if you can save them money on their Med Supp insurance. If you can't they are totally not interested in anything you have to say or present.

All of the presentations and videos are not going to convince them to switch companies and pay more for their Med Supp than they are paying when you contact them.

 

[daryllenriquez]

Found this on the web months ago, hope this would help.

Marketing to Seniors

Marketing to Seniors

Until recently, the senior market had little interest for marketers because of misconceptions. Senior citizens were ridiculously mischaracterized as eating dog food and living off paltry sums or as "old bats," demanding "where's the beef?" Now, marketers understand the facts about marketing to seniors:

• Seniors save more than younger segments and have discretionary income
• They control 60% of US assets
• People age 65+ have larger retirement accounts and investment portfolios larger than younger people
• Retirees have more time to direct marketing messages.

In short, the senior market is a goldmine and one that we have been researching and documenting since 1985. Marketing to seniors produces the best return per marketing dollar.
Effective senior marketing requires understanding senior psychology. And with that increased understanding, real estate developers realize the huge profits to be made in senior housing and insurance companies see the riches from senior health insurance and long-term care insurance. Note that the senior market single-handedly supports the fixed annuity industry and the senior settlement industry. Life insurers, once focused on traditional cash value life insurance for families now realize where the growth and profits lay—in marketing to seniors. Electronic marketers have also come around. Common wisdom was that seniors were not technology savvy. Au contraire. The Pew Internet survey shows that one segment of seniors are heavy Internet users-the 4 million seniors with the greatest net worth and education—exactly the market that financial institutions and financial advisors want to reach. To ignore e-mail marketing, web site marketing in favor of direct mail or other traditional modes is a mistake. Gain value from the resources in this site to better understand retired people, senior marketing, senior advertising and retiree buying psychology.

 

[1manshow]

So.....is that quote request at the bottom of your post to solicit our business ?

 

[Bitnis]

"Good choice in deciding to work with seniors. We are on the brink of a huge explosion starting June 2010 in Medicare Supplement sales."

So what's the latest?

 

[Johnnyboy29073]

I disagree. Health Care reform may have a profound effect on Medicare. Currently, there is no cap on the out of pocket for Medicare. The 20% goes on forever. The hospital deductible can be applied 6 (actually 7) times a year.

Obama wants a limit to the out of pocket that an insurance company can charge and I assume, the same would apply to a public plan.

It would not be fair that a 64 year old has a cap but a 65 year old on Medicare does not. I suspect the cap will apply to all rendering Med Supps next to worthless.

Rick

Agreed, less its repealed
- - - - - - - - - - - - - - - - - -

I have found advertising to be difficult, such as getting responses. I primarily sell life & annuties, but I am also broker for healthcare - hope to do most of my healthcare with seniors. Any suggestions would be appreciated.

Granted, I am in the midst of a slide from the mortgage industry to Life, but my experience from 21 years marketing in that field tells me this, for what its worth:

The key to any mail campaign (which is what I plan on doing) is how personal your approach is:

PERSONAL PERSONAL PERSONAL
SPECIFIC SPECIFIC SPECIFIC
ORIGINAL ORIGINAL ORIGINAL

avoid generic mail-in cards

put your picture on everything..........even if you're ugly like me......

tout your credentials...........mine in the mortgage industry used to say: "Thousands Closed Since '89"


I am very curious as to what cross-overs, if any, apply in the direct mail marketing from mortgage to insurance, but I truly believe at the end of the day marketing is marketing and what worked before will work now.....but, we'll see.

 

[mpalma]

I would definitely do split testing and find out what works in your specific market. Do both offline and online promotions and see where you get most of your leads from.