How Retention Marketing Can Benefit Your Medicare Business
Retention marketing is a strategy that focuses on keeping existing customers engaged and loyal to your business. For Medicare agents, this can be especially important as customer retention means continued renewals, future referrals, and a stronger reputation in your community. With the resources you have by teaming up with National Contracting Center, all you need to do is take the next steps in your marketing efforts. We’ll explore the benefits of retention marketing for Medicare and provide tips on how to get started.
Why is retention marketing important for Medicare businesses?
Retention marketing is crucial for Medicare agents because it can lead to increased customer loyalty and revenue. By keeping existing customers engaged and satisfied, you can reduce the cost of acquiring new customers and increase the lifetime value of each customer. Additionally, satisfied customers are more likely to refer others to your business, which can lead to even more growth and success. In the competitive Medicare industry, retention marketing can help you stand out and build a strong reputation for quality and customer service in your community.
Marketing to Seniors
One of the key components of retention marketing is developing a personalized communication strategy for your customers. This means understanding their needs, preferences, and behaviors, and tailoring your messaging and offers accordingly. For example, you may want to send targeted emails to customers who have recently enrolled in a new Medicare plan, offering them additional resources and support. Or, you may want to periodically check in to see if they need something and ask for referrals. By showing your customers that you value their individual needs and preferences, you can build stronger relationships and increase their loyalty to you.
Another important aspect of personalized communication is using the right channels to reach your customers. Some may prefer email, while others may prefer phone calls or even text messages. By understanding their communication preferences, you can ensure that your messages are being received and read. Additionally, consider segmenting your customer base based on demographics or behavior, and tailoring your messaging to each group. For example, you may want to send different messages to customers who are new to Medicare versus those who have been enrolled for several years. By taking a personalized approach to communication, you can increase engagement and retention among your Medicare customers.
Four things you can do today to improve or increase your Medicare retention marketing
1. Send birthday/greeting cards to your clients
You can do this personally, or you can use a company that will connect directly with your CRM to automate this for you. If you’d like to learn more about best practices or options you have for companies to provide the service, we can help you! This is a great way to show your clients you’re thinking of them and value you them in a personalized way. Don’t forget to throw a couple business cards in there with your card, they may hand those out to their friends or simply keep them for easy access but either way it’s appreciated!
2. Get connected with an email marketing platform
You don’t need to send more than one email per month, but this way you’re reaching out and reminding them that you’re there if they need it! Prices of platforms and what they offer can vary from no/low cost and up. You’ll need to decide what you want your platform to do, what your budget looks like, and how much time you are willing to put into it. If you want to discuss options or want reccomendations for platforms, or simply ask a question about email marketing, reach out that’s what we are here for!
3. Satisfaction or friendly reminder check-ins
This can be via phone, text, mail, or email – get to know your clients so you’re able to contact them how they perfer. When you write a new policy, reach out ask if they got their card or if they have any questions about their new plan. When AEP is approcahing, let them know you’re avaliable for a coverage review. Remember, your current clients are your competition’s prospects, by checking in and showing your clients you value them will only build their loyalty to you.
4. Use social media to enagage with your current and future clients
Social media is a great way to engage with clients or future clients. It allows you to build relationships, share information, and create conversations. You can use social media to promote your services, answer questions, and provide helpful resources. Additionally, you can use it to listen to what your customers are saying about your business and respond accordingly. For more information on social media marketing to seniors, check out our Facebook Toolkit.
Start Retention Marketing in Medicare Today!
No matter how you decide to implement retention marketing in your Medicare business, the first step is getting started. National Contracting Center is dedicated to helping you grow your business. We offer a variety of services to help you reach your goals, including Medicare marketing strategy plans and lead generation. Contact us today to learn more about how we can help you succeed in the Medicare market.
