Some long term care insurance salespeople become lead junkies, getting most of their new sales from responses to their agencys or carriers direct mail advertising programs. But there are much better sources, sales veterans note.
Traditional ad-generated leads are becoming less and less productive, according to Dan Cahn, vice president of business development for LTC Financial Partners, Kirkland, Wash.
“Five years ago, conversion rates of [direct mail ads] were around 1.7%,” he says. “Now, theyre more like 0.7% or 0.8%, and that trend is going to continue. Mailing out offers of free books just is not a winning proposition.”
There are a number of alternative methods that are far more fruitful, he says. The most productive come from getting in front of potential customers or the people who advise them, such as by speaking at financial planning seminars or talking to news or financial reporters.
Smart producers also take advantage of the continued growth of computer usage, Cahn says.
“The fastest growing [computer] user population is age 55+,” he notes. “People in LTC have an opportunity to leverage technology, but I dont think the industry has taken advantage of it.”
Cahn suggests agencies on local Web sites aimed at senior citizens, or to place links on those sites leading individuals to the agencys Web page. Agencies also can buy keyword services from search engines that help steer people to the agencys site when they are seeking information on LTC.