How to effectively partner with local brokers to increase Medicare sales
As Medicare marketing executives are in the midst of their advertising campaigns for AEP 2024, some are considering implementing direct-to-broker tactics to support their overall acquisition program. This is a smart strategy, as nearly half of consumers say a licensed agent did the most to help them understand Medicare coverage options.1
Today’s Medicare beneficiaries are overwhelmed with information. They are seeking guidance and peace of mind. Peace of mind is built on trust, and trust is built on personal connections. Brokers can create a personal connection and are oftentimes perceived as being more trustworthy.
Incorporating a direct-to-broker marketing strategy requires a different approach. Here are some tips on how to do it effectively.
Capitalize on the value of being local
One of the advantages of working with a local broker is that they are tied to the communities they serve. Humans are wired for connection with others; we want to be understood and feel appreciated. Given the complicated nature of Medicare, it is invaluable to have someone local who can make that connection and break down all the details to ensure that the prospect has the right coverage for their needs.
In your advertising communications, be sure to stress the broker’s experience in the community and relationship with your plan. Consider utilizing a local phone number instead of an 800 number. A local phone number will only enhance the local presence advantage.
Create customized communications
Digital printing has made the cost of customized print jobs much more affordable. Direct mail formats, including postcards, self-mailers and letter packs and even out-of-home billboards can all be customized with the broker’s name, photo, location and contact information without a large expense. This customization further enhances the human connection you are striving for.
Implementing digital advertising also provides an opportunity to reach the appropriate localized target audience. Using social media channels, such as Facebook, allows you to communicate with your Medicare audience, delivering a highly localized message efficiently.
Develop a solid direct mail list segmentation strategy
Given you may be working with multiple local brokers or agents, it’s crucial that you implement a list segmentation strategy to ensure your direct mail program is executed effectively. You’ll want to consider the location of the agent and implement a radius approach when selecting the Medicare prospects to mail to. This could be up to 10 miles around the agent location. The denser the target audience, the smaller the area you should mail.
When selecting which brokers to promote, be sure to consider the ethnicity of your prospecting area, as you will want to ensure language preferences are addressed.
Creating an effective program to partner with brokers can significantly increase your Medicare enrollments. Before engaging brokers, make sure you have a plan to train them about your plan’s advantages, key selling points and differentiation. Provide them sufficient marketing materials to help them educate the prospects about the decision process and your plan.
If you are looking for a partner to help boost your Medicare sales, take a look at what GKV Health can offer.
