5 Client Retention Tips for Medicare AEP 2020

Client Retention for Medicare AEP 2020
30 Oct 2019

5 Client Retention Tips for Medicare AEP 2020

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As Medicare AEP 2020 starts to ramp up, focusing on client retention allows you to bolster your business with less effort during your busiest time of the year. 

Naturally, you’ll want to build your Book of Business with new clients. However, nurturing your existing clients, who know you and value your services, will provide ready-made selling opportunities during the annual enrollment period. 

Here are some client retention strategies to help you get the most out of the current AEP season. 

1) Take action early to maximize client retention for Medicare AEP 2020

Whether your existing clients have been with you for two years or twenty, if they’ve heard from you recently, you’ll be front of mind should they want to make changes to their Medicare insurance coverage. 

Of course, other agents will be contacting them as well! Get in touch early to galvanize your relationship and secure their repeat business.

Also, if you haven’t done so, send your retention letters as soon as possible. Your message will remind clients that you are here to help.

2)  Follow up

Create a precise plan for following up with clients (e.g., call clients one week after retention letters go out). Depending on where clients are in the buying cycle, you may need to contact them several times. The key is to be consistent and dependable, including following up when you say you will.

Pro tip: Show your professionalism by giving clients a specific timeframe for getting in touch. Rather than saying, “I’ll give you a call in a week or so,” try, “I will call you next Wednesday. Is that a good day for you?”

3) Go into every conversation prepared

To show your existing clients that they’re important to you (and your business), refresh your knowledge of their file before you talk to them. They’ll appreciate that you remember their details and feel confident about working with you. 

Pay attention to clients who’ve had the same policy for two or more years without making any changes. What can you offer them? Are there plan options that may save them money? 

4) Make getting in touch easy!

If an existing client is getting in touch with you, they’re engaged with their policy. While you’ve got their attention, make sure that they can reach you with minimal effort.

Put your phone number(s) and email and mailing address on all your marketing materials (i.e., your business cards, website, email signature and letters).

For clients who need to call you, keep the process and straightforward as possible. If they call and have to go through a series of automated steps, the interaction may feel impersonal and complicated. 

Pro tip: Create a  V.I.P. experience by giving them a direct number. You’ll be able to jump right into the conversation—minimizing client frustration of navigating an automated system or being put on hold.

5) Exceed client expectations

If you go above and beyond to meet your clients’ insurance needs, you build their loyalty for future AEP seasons. Make yourself available for their calls and take the time to listen to their questions and concerns. 

Above all, be personable! If clients enjoy talking to you, they’ll be more likely to refer friends and family members to you—an easy way to boost your client book.

Ask for help

During Medicare AEP 2020, you may run into situations with new and existing clients you’re not sure how to handle. You are not alone! The Financial Grade team is here to support you and answer all your questions. Contact us at any time.