Medicare agents looking to grow their businesses know the importance of the T65 market. By 2030, there will be approximately 73 million Baby Boomers (people born between 1946 and 1964) aged 65 or above. This equates to more than 10,000 people becoming eligible for Medicare every day. You need a solid year-round marketing strategy for tapping into this burgeoning demographic.
Start Early
It’s no longer enough to start your marketing three months before Medicare eligibility – many soon-to-be-eligible enrollees start researching Medicare plans much earlier. This means you must make contact with these potential clients much sooner. It’s a good practice to start contacting prospects when they turn 64. There are a variety of approaches and multiple channels for outreach. Experiment with all of them and track your results to figure out which are the most effective for you.
Marketing Channels for a T65 Audience
Those turning 65 today are different from their predecessors. They are more digitally savvy; they want to be educated and not sold to. They also find Medicare complex and frustrating – they want someone who can answer their questions and make the entire process easier. Use all the marketing channels at your disposal to reach this audience and stand out from the crowd.
Your Existing Customer Database – You have probably developed your own leads for T65 and are keeping track of their birthdates. Schedule outreach early – before they start making decisions.
Referrals – Your current satisfied customers are probably your best source of leads. Many people who are new to Medicare will turn to their family and friends for advice. You’re more likely to gain appointments and sold policies through referrals than by marketing to people who don’t know who you are. Make it a habit to request referrals from your existing clients.
Be Active in Your Community – Join local senior organizations and attend events where you can network with potential clients. Offer educational seminars or Q&A sessions. There is no better way to build relationships than by getting to know people face to face.
Have an Online Presence – Pew Research Center reports that adoption of online technology among older adults has grown substantially in the last decade. Of Americans aged 65 and above, 45% report using social media such as Facebook, Twitter, and Instagram – a fourfold increase since 2010. Create a website and Facebook page to keep prospects up to date with Medicare news. Consider hosting an online information seminar or a podcast.
The challenge with social media and online platforms is delivering the right message through the right medium. If you feel a little intimidated by this technology, look for resources in your community that can help you build your competence with the different formats. A community college or adult education program, for example, might offer digital marketing classes focusing on these online technologies.
Direct Mail – Direct mail is still an important component of T65 marketing. As a sizable portion of your T65 audience does not use social media, this is a great way to reach potential clients. Seniors often pay more attention to mailed marketing pieces because they are used to receiving promotions this way.
Follow Up and Follow Through
T65 marketing requires your attention all year. Since it takes a lot of effort to find potential leads, once you have made a connection, it’s important to follow up in a timely manner. Reply to all requests promptly and follow through on anything you promised to do. Once you have turned a lead into a successful sale, stay in touch throughout the year. Retaining clients is important for your business and future referrals.
Do you need help with marketing? PTT Financial is here to support you throughout the year.