The majority of sales agents have had similar experiences with Medicare Supplement leads. If you are one of them, you’re likely to have bought a long list containing prospects’ contact details. But the moment you press the dial, you get all manner of responses. The other party may tell you that you’ve called the wrong number and that they never requested help. Some will tell you they have a plan already and may disconnect the call out of anger.

After many hours, you may be lucky to get a single appointment, or probably none. At the end of the day, you’ve wasted time and are already in a lead trap. This is a situation many sales agents face every day. Buying a lot of leads doesn’t mean you’ll achieve your targets and grow your career.

Time Wasted Means More Costs

It’s not only money that gets wasted when you buy low-quality leads. Other than the initial cost of buying the leads, there are many hidden costs to think about. The time you spend calling these names could have been spent contacting seniors who need help right away. If there’s a team working under you, they will be demotivated due to frequent rejections. You will miss many opportunities chasing dead ends while other agents are converting prospects into real agents. Finally, you will experience burnout, and your energy will be drained.

This discussion explores why most Medicare Supplement leads waste the agent’s time.

Volume Doesn’t Mean More Sales

Most agents think that if they have many people to call, their sales numbers will increase. Some lead providers sell big contact lists for lower prices, and you may think it’s a good deal. On the contrary, these are low-quality leads that will waste your time.

Medicare Supplement insurance, or Medigap as it is popularly known, is meant to cover certain costs, such as coinsurance, which is charged on the Medicare Part A and B plans. Every year, there’s a 6-month enrolment period for people over 65 years old, and there’s huge competition among sales agents to get these numbers.

During this period, some seniors are also interested in getting more information about the plan and may want to switch from other providers. Therefore, their need is urgent. The Medicare Supplement leads may not perform as expected due to several reasons.

Old and Non-exclusive leads

If you get a list that is more than 6 months old, it’s not fresh and therefore will not be useful. When you call them, you’re likely to get responses such as “they’ve already bought insurance” or “they’re not interested.”

Shared leads are sold to many people, and so different agents may call the same person. If you buy them, you’ll compete with other agents. This can annoy the prospect, and they may refuse to answer more calls. Thus, by the time you are calling them, it’s already a dead end. To avoid this mistake, firms are encouraged to source exclusive Medicare Supplement Leads from a reliable leads provider. These are considered high-quality leads, sourced and filtered using modern technology to guarantee almost 100% conversion.

Often, marketing agencies may collect names from different places, especially the internet. If a prospect gives out their contact details by filling out a form, their names may end up in a shared leads list. When you call them, they’ll tell you that they didn’t request to be called.

Wrong Demographics

As noted, Medicare Supplement insurance is sold to seniors above 65 years. Therefore, if you receive a list of seniors who are below the eligible age, they will not sign up, and it will be another wasted call. They could also be from a different state where you’re not licensed to operate.

Some may be comfortable in their current plan and hence will not switch, and when you contact them, it may amount to nothing. You may also contact people who cannot afford the premiums payable on this plan. A lot of your time could be wasted trying to explain the plan’s benefits, which they won’t even sign up for.

Conclusion

It may not be possible to know whether a lead will convert. However, there are some red flags to watch out for. Buy exclusive leads that are only sold to you. Ask your lead provider if the leads are real-time. Find out about their vetting process. The leads should not be more than a day old; they could already have been contacted by other agents. The list should also contain other vital information such as age, state, health condition, and current plan.