The nation’s largest independent distributor of life and health insurance products, Integrity Marketing Group, has acquired TA to help accelerate their growth and serve Americans with their life …..
Historically, direct mail (DM) has been the endearing lifeblood to age-in sales, the workhorse for the Medicare marketer. Despite relatively low response rates, DM gives us a unique opportunity to sell to prospective members — before their eligibility period and without prior consent — where the same does not apply to phone calls, email and other tactics, at least not without a significant finagling of our sales scripts. Direct mail is also doing a good job of delivering qualified leads, but it can be expensive.
So, what can we do to maximize our ROI with DM? We can look toward streamlining our DM campaigns with predictive modeling. By developing a model that assigns propensity to buy based on a set of predetermined characteristics, and then bumping that model against our DM lists, we can index prospects and only mail to those with a higher propensity to purchase our plan. This enables us to streamline spend and maximize return.
DM will continue to be an effective way to get leads in your marketing pipeline, but you can almost guarantee that these prospects will also go online. What does that experience look like for them when they get there?
Introducing a strong online presence will help support awareness, consideration, shopping, conversion and validation/retention. Through effective targeting, digital marketing can provide the right experience and messaging at the right time in the consideration and shopping process. This becomes extremely important as seniors are more commonly delaying retirement. Digital channels also provide opportunities to capture information from prospects, such as when they intend to retire, and then deliver contextually relevant information to aid in their buying decision at the right time.
Research has shown that the new wave of Boomers is pretty tech savvy; in fact, 70% of Boomers now own a smartphone and are spending nearly 40 hours per week online. They are using their smartphones to conduct research and then turning to their desktops to shop. They are using the internet for Medicare research throughout their 64th year, prior to aging in. With that in mind, Medicare marketers need to have a strong online strategy to reach these prospects. Here are some best practices:
They are the generation that transformed the American family, influenced politics and pop culture, launched consumerism and brought about social change. They are a generation comprised of revolutionaries who have instigated change throughout every stage of life, and they will carry that same spirit into Medicare. Remember your audience — they are aging in on their own terms, not yours. Make their experience with your brand as tailored as it can be.back to insights
September 20, 2019by Ashley Bloxham
Topic industry insights
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