Voice over Internet Protocol or VOIP is the technology used in Medicare phone sales process. It allows agents to nurture leads and make a sale by simply having high-speed Internet and a VoIP handset or softphone. Tools like automatic dialer, auto-attendant, and telephonic application let clients get the information they need about each policy and complete the enrollment process over the phone. You can also use the voice signature option (if the carrier allows that option), eliminating the need to send electronic signatures via direct mail or email.
What’s the secret to winning phone sales?
- Be comfortable and confident with selling via phone call.
- Take every second as an opportunity to build rapport with the caller.
- Find a way to connect with your potential client by attaching emotion to your product solution.
- Be friendly, straightforward, and accurate.
- Avoid radio silence during a phone call, have a script in hand (as guidance) and be prepared for potential questions.
To comply with CMS rules regarding telephonic applications, you’ll have to set up a three-way conversation with the client and carrier. You will be required to send a confirmation receipt of the enrollment via electronic or paper mail sent to the client and agency/carrier to make sure the voice-signed application is legally valid. Or, you can skip the hassle by using a carrier to be responsible for recording the conversation and obtaining the voice signature. It eliminates the need to master the technology on your end and allows you to focus on the conversation with the client.
There are various tools you can use to speed up the enrollment process and fast-track sales. Having your own customer relationship management (CRM) software, like Agencybloc, Salesforce, ActiveCampaign, or HubSpot CRM will help you monitor, manage, and nurture leads throughout the buying journey. There’s also an array of industry-specific tools that integrate seamlessly with these platforms and help you streamline your marketing and sales process.
You can get a CRM if you work independently or use the one your carrier provides (If available).
Partnering with a Medicare FMO also may give you access to the best CRMs in the market, along with these additional features:
Medicare Online Quoting Tool – this tool offers easy access to up-to-date and accurate information on pricing and plans of top Medigap products in your client’s location on the fly. It’s a handy tool to have whether you’re selling online or in person as it lets you access a landscape of product options.
E-contracting Solutions – this comprehensive electronic contracting solution replaces the error-prone approach of manual data entry. It’s a big efficiency gain on your own as it lets you complete new contracts in under two minutes.
Book of Business – a simple tool that saves time and effort, a BOB allows agents to search and download pertinent information about their entire client base through a computer or mobile device. The tool provides details, like client name, effective date, policy number, and modal premium
How much or however you want to use the Internet is entirely up to you, but keep in mind that in-person meetings are still the tried-and-true practice in Medicare sales. When marketing your products to seniors, make sure to prioritize their needs and goals over commissions.
A Medigap plan is a long-term commitment that can have a significant impact on your clients’ lives, so you’d want to make sure you’re working for their best interests at all times.
Communicate in the method or platform each client is familiar and comfortable with, and be as helpful, transparent, and straightforward as possible. When phone sales via E-Apps or digital application forms are not an option for the client, do face-to-face to make the sale or explore other sales processes, like partnering with a Medicare Insurance Field Marketing Organization (FMO).
And more importantly, stay up-to-date with your agent training (AHIP or agency-sponsored), state and federal regulations, your carrier’s underwriting guidelines, and changes in Medicare (read the yearly-updated Medicare and You Handbook cover to cover).
A strong Medigap marketing strategy is a mix of traditional, digital, and sheer dedication. Keep your door-knocking or direct mail techniques if they still work for you, while fully committing to your online efforts. And don’t forget to sell your products to friends, family, and colleagues, as well. Many agents tend to overlook the network that’s readily available to them.
All these will help you maximize your time, convert more leads, cut costs, increase renewals, and break geographic boundaries. More importantly, you’ll be at the forefront of supplying the growing need for Medicare Supplements.
Do you need help with your leads?If you’re getting a steady flow of fresh leads daily but you’re having a hard time converting them into sales, feel free to reach out to TR King Insurance Marketing. We can provide you with the support and training, along with more qualified leads, software, and tools at discounted rates.
Partner with us today.