What is your sales process?

jack3454

Super Genius
188
Just wondering what peoples sales process looks like. Im trying to redo my process because I realized its a large waste of time. For example, I would spend a lot of time going over what medicare supplements are and how they work and pricing, only to realize they can’t afford a supplement anyways so that was a complete waste of time. Also explaining how original medicare part A and B work and the costs behind it, only for people to get confused about the pricing when supps or MA comes into the picture which basically made that a waste of time. Just trying to save time but also make sure Im giving people good service.
 
Stolen from Somarco - Tell me what you know about Medicare? Or words to that effect. Let the prospect talk - if they will - and they'll show you where to focus your attention.

One of the slides in my T65 presentation is a breakdown/comparison of Supp vs MAPD. You could make your own as a flyer and use it in every appt. Great timesaver.
 
Half already have done research, talked to friends or family, already decided, but are looking for confirmation from you.

Ask what insurance they have now if turning 65. If group or ACA and how much they pay now and deductible. That will give you insight into a LOT. Usually they get an upgrade for same cost going OM and med supp if on group now. If paying full or high premium for high deductible ACA, then med supp. If low prem and ded aca, then mapd unless wealthy in assets.

Ask about income to determine if Subject to irmaa. If yes, med supp. If low income or assets, mapd bound.

Ask about health? If bad, med supp IMO

Ask what's more important to them, choice and access to care, or monthly premiums?

After that, you will know the answer
 
A particular sales process is always largely dependent on your lead source. Where, and how, are you getting these prospects?
 
Stolen from Somarco - Tell me what you know about Medicare? Or words to that effect. Let the prospect talk - if they will - and they'll show you where to focus your attention.

One of the slides in my T65 presentation is a breakdown/comparison of Supp vs MAPD. You could make your own as a flyer and use it in every appt. Great timesaver.

I like that, it gets them talking and to see where they’re at. I might end up doing that on a sheet and have the comparison there. Thanks
 
Half already have done research, talked to friends or family, already decided, but are looking for confirmation from you.

Ask what insurance they have now if turning 65. If group or ACA and how much they pay now and deductible. That will give you insight into a LOT. Usually they get an upgrade for same cost going OM and med supp if on group now. If paying full or high premium for high deductible ACA, then med supp. If low prem and ded aca, then mapd unless wealthy in assets.

Ask about income to determine if Subject to irmaa. If yes, med supp. If low income or assets, mapd bound.

Ask about health? If bad, med supp IMO

Ask what's more important to them, choice and access to care, or monthly premiums?

After that, you will know the answer

Thank you for the advice
 
A particular sales process is always largely dependent on your lead source. Where, and how, are you getting these prospects?

Referrals, turning 65 leads mostly. Those other leads who have MAPD I already know where Im going so it’s very quick. It’s the turning 65 that take a long time
 
Yep, as said above by the wise council Somarco himself, ask questions and let them' speak, but control the call.

"By the end of this call we'll have all your questions answered and find the best solution for you, but just so I know where to begin, how much research have you done into Medicare and the different plans?"

Let them speak, data-gather the whole way through, but again, control that call. No rabbit holes. The 2nd best close is one you don't have to ask for. The 1st best close is the one you don't have to ask for, AND they think they came up with the solution themselves.
 
All of my prospects are very warm leads. I do not care what she thinks she knows about Medicare and I don't need her to do most of the talking. I control the sales process, I do most of the talking intially, and I do not short-change that process. Typical prospect turns into a client after 3-4 calls, approximately 2 hours in total. By that time, we have developed a nice rapore, I have proven myself to be a professional, client knows that I am invested in her and she has become invested in me. I have taken the time to educate her about all things Medicare. After numerous calls, and a few hours, she is more than ready to enroll. Two hours of my time initially, then about 10 minutes of my time a year equals a client for life plus many referrals.
There are many ways to skin a cat and we all have different sales techniques. For me, this is how to build and maintain your business.
 
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I don't have a script but I might as well because I say all the same things every time.

I always start by talking about A & B and explaining the way it works and what they cost. I always mention IRMAA in case it comes into play for the individual.

Next I talk about Medigap and how it interacts with Original Medicare. I explain what is not covered by Medicare like dental, vision, Rx and this leads into me explaining why they'd need a PDP.

Then I talk about MA and how it differs from Medigap and what the pros & cons are. I also talk about the rules for changing between Medigap & Advantage.
 
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