PPACA

In 2010 President Obama signed the Patient Protection and Affordable Care Act, or PPACA, into law. It was a sweeping piece of legislation. Some of its main points included mandating most Americans to carry health insurance,  forbidding insurance companies from denying coverage to people based on pre-existing conditions, taking steps to limit premiums based on age and health, and expanding Medicaid coverage.

Obama had championed the bill so strongly that some people begin referring to it as Obamacare. In 2012, 26 states petitioned the Supreme Court to rule on whether or not the PPACA was constitutional. The Supreme Court accepted the case, and it is expected to release its ruling by the end of June. The ruling is expected to do one of three things: strike down the entire act, leave the entire act as it is, or strike down only parts of the law, like provision that mandates insurance coverage.

Depending on the ruling, health insurance companies may be affected in a variety of ways.

PPACA Struck Down Entirely

A few of the provisions of PPACA that have already gone into effect would disappear. This includes the one that, in some cases, allows adult children to remain on their parents’ health insurance plans through the age of 25. Health insurance companies would not need to make any adjustments and could continue with business as usual. Lead prospecting would remain virtually unchanged.

PPACA Allowed to Stand

If the entire piece of legislation is allowed to stand, the effect it will have on insurance companies is not immediately clear. On the one hand, the companies will have to offer insurance to individuals with pre-existing conditions. Although the government will help to subsidize the cost of health insurance, organizations called “exchanges” will also be formed to help control premium costs.

The news, though, is not all bad for insurance companies. PPACA will require many healthy young adults who currently choose not to carry health insurance, to purchase at least a minimum amount of coverage. Since these clients typically require little or no care, their business will become vital to an insurance agency’s bottom line. The most successful agencies will seek out health insurance leads that fall into these categories and engage in aggressive lead prospecting.

Only Certain Provisions of PPACA Are Struck Down

There is a possibility that the Supreme Court will rule that it is unconstitutional to require Americans to purchase health insurance but will allow the rest of the law to stand. This means that insurance agencies would still be required to offer insurance to those with pre-existing conditions, but that they would not have a healthy young pool of health insurance leads to offset the cost of caring for the more medically-compromised people.

With so many different outcomes possible, it’s no wonder that most insurance companies are waiting impatiently for the ruling that could change the way they do business forever.

Google SEO Penguin Update - NextWaveMarketingStrategies.com

Google implemented the Google Penguin updates on April 24, 2012. They stated they were only trying to get rid of spam websites, but their strict new rules sent waves of panic through the online community. How worried should your insurance agency be about Penguin? It depends on your search engine optimization practices and on how you get your content.

Google Penguin Penalties

Google’s new rules penalize the following practices:
1. Using material that is copied from another website.
2. Posting material with a high keyword density, also known as keyword stuffing.
3. Cloaking, or the practice of directing human readers to one set of content and search engines to another.
4. Buying links or exchanging links with similar sites.

Altogether, these four prohibited behaviors are known as “Black Hat” SEO practices because they attempt to boost a website’s search-engine rankings by using underhanded means.

What Implications Does Penguin Hold for Your Insurance Website?

If you’ve been playing by the rules all along, Google Penguin shouldn’t significantly affect your website rankings. Don’t rush into a series of time-consuming, expensive changes that you might not even need.

First, call a meeting with the team that handles your website content and design. Find out which SEO tactics your team has been using. Make it clear that you’re looking for honest answers in order to deal with the changes imposed by Penguin and not because you intend to punish or scapegoat anyone.

Based on the answers provided by your team, you may be able to take some quick actions that will improve your Google page rank. For instance, you should immediately cancel all paid links and take down any material on the website that is not original.

Once you’ve handled the crisis issues, look at your website with a critical eye. If you have trouble being objective, ask a trusted friend or family member to look at the website and give you his or her opinion. Ask yourself if the material that appears on your site is truly unique and high quality. If the same information can be found on hundreds of other websites, it may be time for a rewrite.

Also ask yourself if the material is designed to appeal to humans or to search engines. Rewrite any sections that use keywords repetitively or that use so many keywords that the section doesn’t make sense.

Finally, be sure that you offer fresh material. This means frequent updates as your insurance practice changes. A blog is a great way to be sure that you always have fresh information available.

In the end, Penguin may inspire you to make some positive changes that will appeal to prospects and customers. If you haven’t been using “Black Hat” SEO practices, though, you probably don’t need to worry about any serious problems with your search engine rankings.

Why Do Seniors Need Health Insurance If They Have Medicare?

Seniors may be interested in health insurance for many reasons. First, people under the age of 65 do not qualify for Medicare unless they have been continuously disabled for 24 months. People who retire early may lose their employer’s health coverage before they are eligible for Medicare. Even people who have Medicare often need additional insurance to help cover Medicare co-payments and deductibles. Since these policies fill in the gaps in Medicare coverage, they are often referred to as Medigap policies.

Life Insurance Needs

Seniors are living longer, and many of them deplete the funds they had carefully saved to cover their final expenses. Not wanting to be a burden to a spouse or to adult children, seniors are seeking out life insurance to cover funeral costs and perhaps leave their loved ones with a small inheritance.

Find Seniors through Internet Leads

If you think seniors don’t use the Internet, think again. More than 1/3 of seniors today go online to look up information and to stay in touch with family, and about 4/5 of Baby Boomers use the Internet on a regular basis. This doesn’t mean, though, that they are always comfortable with the technology.

To win senior clients, tailor an area of your website especially for them. There you can highlight all the health insurance plans of interest to seniors. You can also give your clients several ways to contact you. Some older people are uncomfortable about completing an online request for information, so make sure your direct mail address and your phone number are prominently displayed.

Since some seniors are hard of hearing and get frustrated by automated phone answering systems, you’ll find your agency is especially popular if a real person answers the phones and helps put senior callers in touch with the appropriate people.

If your agency is struggling in this economy, one of the smartest things you can do is reach out to the growing senior market. You’ll be surprised at how many seniors need your services.

Like that box of chocolates, though, real-time leads are not perfect. Before you spend your money and energy pursuing them, think about whether you are prepared to handle the drawbacks.

Real-Time Leads Are Expensive

If you’ve bought a box of gourmet chocolates recently, you know just how much they cost. Real-time leads, too, can be very expensive. This is especially true if the leads are exclusive, that is, if they are sold only to your company. You may find yourself paying $10.00, $20.00 or even more for a single lead. That’s quite an investment for something that might not pay off.

Real-Time Leads Are Not Always What You’re Looking For

At some point, almost every person has bitten into a delicious-looking piece of chocolate candy only to find that the filling is one of his or her least favorite flavors in the world. Just like that candy, not every real-time lead is as good as it initially appears. After talking to the lead, for instance, you may find that he or she doesn’t qualify for your services, or that you can’t come to terms on payment, or that he or she is just shopping around and isn’t ready to buy at all.

Never knowing what you’re going to get means taking the bad along with the good – but taking the “bad” chocolates can be a bitter bite to swallow when you think about how much you’re paid for them.

Real-Time Leads May Go to Waste

Have you ever purchased or received a box of chocolates that you simply couldn’t finish? Maybe each and every one of them was delicious, but you just couldn’t eat your way through them before they started to go stale. Again, the same thing happens with real-time leads. As many as 50% of these leads don’t receive a timely call. Again, you’ve wasted your money paying for something that basically ends up being thrown away.

Before you arrange to purchase your next batch of real-time leads, take a moment and think about the philosophy of Forrest Gump. Is that “box of chocolates” really worth the money?

Sales Handshake - Next Wave Marketing Strategies

The bottom line is that people don’t buy from the companies with the flashiest merchandise and the slickest advertisements. Instead, they buy from companies they trust. If you want to make your sales message more trustworthy and win more clients, here are ten simple ideas:

1. Put Relationship Building in Front of Selling

Don’t call a stranger and expect him or her to throw thousands of dollars in your direction. It’s far more effective to call with the goal of turning that stranger into a friend. When the prospect is ready to buy, he or she is much more likely to buy from someone who has taken the time to build a relationship with him or her.

2. Take Time to Think about Your Sales Message

Don’t scribble out a few lines of copy ten minutes before the project is due. Instead, take some time to brainstorm about what makes your product unique and about why prospects should trust your product more than those sold by your competitors.

3. Seek the Input of Others

Ask people you know and trust to read your ad copy and make suggestions about strengthening it and making it sound more direct and honest.

4. Avoid Hype

Most prospects tune out phrases like “BEST PRODUCT EVER.” Take out the hyperbole and explain why you think your sale is so great. Are you offering a large selection of products, super-low interest rates, or brand names at generic prices? People would rather read the facts and draw the conclusions for themselves.

5. Keep It Professional

That doesn’t mean you can’t use humor in your ads, but it does mean that professional ad copy probably shouldn’t feature pictures of you drunk at your last lawn party or pictures of your spouse in a revealing swimsuit. After all, you’re trying to build trust, not look like the town drunk.

6. Get Your Name Out There

The more frequently people see your name, the more they are likely to trust you. It’s a good idea to take the time to sign up with the popular social networking sites and to become an active member in the online community.

7. Become an Expert

Court the local media so that you become the go-to person when they have questions about areas related to your expertise. After you’ve been mentioned in the press a few times, potential customers will see you as knowledgeable and trustworthy.

8. Try to Build Trust During Each Interaction

Every time you contact a client, from the first cold call to the routine follow ups, ask yourself what one thing you can do to build additional trust with this person.

9. Put Your Money Where Your Mouth Is

Try offering your clients free samples of your product or a free half-hour long consultation to discuss the services you provide. Nothing builds trust like actually experiencing a superior product or service.

10. Damage Control

Most companies run into messy situations at one time or another. When this happens, rumors fly and even your oldest clients may wonder if you’re still the best in your business. Rather than trying to cover up a troublesome situation, it makes more sense to engage in damage control. Make a brief public statement about how or why the problem occurred and how you are going to make sure it never occurs again.

Building trust with prospects isn’t easy, but taking the time and effort to do it can increase your sales and your reputation in your community.

Customer Commitment - NextWaveMarketingStrategies.com

Have you ever spoken to a sales representative who sounded as if he or she would rather be doing anything in the world than talking to you? If so, I’m willing to bet that person did not get your business. Whether you are cold calling or following up on aged leads, your clients like to feel special. They want you to take time with them, answer their questions, and convince them that you and your company are the best people for the job.

That is why showing a commitment when sales prospecting can turn a “no” into a “yes.” Dictionary.com defines commitment as a promise, pledge, or obligation. It also refers to involvement and engagement in a process. There are several ways you can convey commitment while you are sales prospecting. Here are a few ideas:

Speak in a Warm, Friendly Voice

Smile as you speak into the phone, keep your tone even, and don’t rush to squeeze in all the information you can before the prospect ends the call. Taking deep breaths can keep the pitch of your voice low can make you sound relaxed, which will help calm your prospect as well.

Tell the Prospect Why You Are Calling

For instance, you might say something like, “I represent a new office products supply chain in town. We work with mid-sized businesses like yours to help you get significant discounts and same-day delivery.” If you are targeting this particular prospect for a reason, let him or her know that, too. “I was at the Chamber of Commerce meeting when you said you had a hard time finding cleaning services for your office. I represent ZYX Cleaning Company, and I’m sure we can help you with this issue.”

Give the Prospect a Chance to Talk

Listen carefully to what the prospect says. It’s a good idea to take notes. If the prospect raises an objection, don’t argue. Just say something neutral like, “I hear what you are saying. Tell me more” or “Yes? Go on.” Sometimes the prospect will talk him or herself into buying what you are selling without you ever having to say another word.

Ask for Appointments

Thank the prospect for taking the time to talk to you on the phone and add something like, “I’d really like to meet with you in person to show you some of the first-rate supplies we offer. Would you have time to meet for fifteen minutes or so later this week?” It’s unusual to make a sale on a first phone call, but many prospects who are even halfway interested in your product will agree to short appointments.

Don’t Forget Follow Ups

If you give up on a prospect after a couple of contacts, you could risk losing a profitable sale. Instead, schedule regular follow ups to allow the prospect to get to know you better.

If you treat each contact with enthusiasm and commitment, you’ll soon see an improvement in your sales statistics.

Sales-Trust - Next Wave Marketing Strategies

Have you ever done something under the influence of a crowd or a group that you probably wouldn’t have chosen to do on your own? If so, you’ve experienced the phenomenon of social proof firsthand. To break it down to its simplest terms, social proof means changing your behavior as a result of how other people are acting.

These behavior changes can be positive or negative. A KKK member participating in an assault is certainly one example of a negative outcome. Now imagine four college students in a dorm room. One wants to go out partying. The other three want to study for a difficult test they will be taking the next day. If the would-be party goer hits the books instead of the bars, you could argue that social proof had a positive effect on his behavior.

Marketing and Social Proof

Insurance agents can use the phenomenon of social proof to increase sales. For the best results, make sure you are active in many different kinds of social media such as LinkedIn, Facebook, Twitter, and Google+. The goal of using social media is to get as many people as possible interested in and talking about your company. For instance, if write a Tweet that gets Re-Tweeted over a hundred times, your social proof will be much higher than if you write a great Tweet that nobody reads.

Don’t Forget a Friendly Website

Make sure that your company has a friendly website that is easy to access and use and that allows you to show how many people come to your website in the course of a day.

Don’t Forget about Customer Referrals

When customers come to you, make sure you exceed their expectations. Clients who like you are more likely to give customer referrals if their friends ask them the best place to find a local insurance company.

Another way of making yourself social proof is to emphasize the sheer numbers of people who are using your service and to imply that the special deal that millions have taken advantage of is about to expire. Another tactic, if you can afford it, is to hire a celebrity to tell others how wonderful your insurance policies are. Finally, if you’ve been endorsed by the Chamber of Commerce, the Better Business Bureau, or an accrediting agency, make sure you list these facts prominently. Users who trust the Chamber of Commerce, for instance, will, by extension, trust you.

If you want to improve your agency’s sales, do everything you can to get people talking about you and about what makes you stand out from the crowd. Never forget that social networking can turn into your greatest selling tool.

Sales Strategy - Next Wave Marketing Strategies

Sales guru Zig Ziglar once said that the cardinal mistake of selling was trying to close the deal too soon. Instead, he suggested that you allow enough time for trust to develop before you actually make a proposal and deliver your sales message.

Ziglar’s advice is valuable. It can help you tap into the two greatest issues that come up in cold calling: problem solving and opportunities.

Problem Solving

Some leads know very well that they are unhappy with their current products or services. Others may not even be aware that a problem exists. You can help them identify that problem by using non-threatening, open-ended questions.

One question you should ask is, “What do you like about your current provider?” This gives you valuable information about areas that are important to your prospect. For instance, if your prospect replies that the best thing about his current supplier is a fast turnaround time, you will know that any sales plan you develop most guarantee quick service.

Another question that can help identify problems is, “If you could change something about your current provider, what would you change?” Take careful note of this answer as well, because it could form the basis of any proposal you draft.

Stay in close touch with the client who has a problem, and work to build credibility and trust.

Opportunities

Opportunities are rare when you’re cold calling, but when they do come along, they’re sheer gold. An opportunity means finding a prospect who is deeply dissatisfied with his or her current services. It may also mean finding someone who is just dying to try what you have to offer. When you find an opportunity, it’s tempting to rush full speed ahead into your sales message. Try to resist this urge.

A deal that is hastily cobbled together is likely to leave both you and your customer on shaky ground. Instead, ask questions. What, exactly, displeases the prospect about his or her current provider? What would the prospect like you to do differently? What is the prospect most interested in buying?

Once you have answers to these questions, thank the prospect and set up an appointment as soon as possible. Then take all the information back to your team and put together a selection of two or three proposals that seem most suited to the prospect’s needs.

By the time you have your appointment with the prospect, you should be ready to hit the proverbial home run.

If your only focus is on making a sale, you may be seen as insincere by prospects. Instead, make your presentations about discovering the prospects problems and reacting swiftly to opportunities.

Warm Sales Message - Next Wave Marketing Strategies

Is your glass half empty or half full? Do you see the murky gray cloud or the shimmering silver lining? Are you a happy person or a sad person?

You may think that the answers to these questions affect only your personal life, but according to Shawn Achor, CEO of Good Think, Inc. you’re wrong. Achor has spent more than a decade researching the science of happiness and he has discovered several interesting bits of knowledge.

Happiness Is a Choice

This does not ignore our basic brain chemistry. Some of us are pre-programmed to look for the negative first, last, and always. Achor sees happiness as a habit that can be developed, or a weak muscle that can be made strong with daily exercises.

We Have Single-Processor Brains

Our brains tend to believe and act upon what they see first. If the first thing they see is a negative, that impression sticks with them, and we respond as if the entire situation were distasteful. By the same token, a brain that first absorbs the positive won’t have the time or the space to process negative. The happy brain is an open, welcoming brain that can always see the best possible outcome.

Happy Brains and Sales

Achor’s research shows that a happy and engaged corporate culture can increase its productivity by 31%, its accuracy on difficult tasks by 19%, and its sales by a whopping 37%.

An optimistic, cheerful orientation can make tasks like cold calling and slowly working your way through the sales process much easier. Instead of thinking of cold calling as a nuisance, for instance, you might come to view it as an opportunity to help the person you’re contacting and make his or her life better. By the same token, you might view a long sales process as your chance to build a rapport with the potential customer.

But My Company Is Not a Happy Place…

More and more employers are realizing the benefits of enacting policies and trainings that encourage employee happiness. If your employer hasn’t yet jumped on the bandwagon, though, it doesn’t mean that you are doomed to misery. You could find a job at a firm that is more dedicated to teaching employees to look for the good in every situation.

You could also use simple mental exercise techniques to train yourself to be a happier person. This is actually the better of the two options; whether you work for the best boss in the world or the worst, the decision to face each day with happiness and optimism is a personal one.

You can read more information about Shawn Achor’s work and his exercises to help grow your “happy muscle” at http://edition.cnn.com/2012/03/19/opinion/happiness-success-achor/index.html

Homeowners Insurance Rates Increase Leads - NextWaveMarketingStrategies.com

For years, insurance agencies have counted on homeowners accepting higher insurance rates rather than going through the hassle of switching insurance policies or even companies. What you may not realize is that this “business as usual” attitude creates a perfect opportunity for you to reach out to aged leads and when their loyalty by studying their needs and offering them appealing alternatives to their current coverage.

Listen and Learn

Your first step in the sales process should always be gathering information. Ask your prospects what they like about their current homeowners insurance policies as well as what they wish they could change. Find out what, if anything, they would be willing to sacrifice for lower premiums.

Build Trust and Integrity

No matter how good your policies may be, prospects will not switch to your insurance agency unless they trust you. Building trust is usually just a simple matter of doing what you say you will do when you say you will do it. For instance, if you’ve agreed to email a quote to a prospect on Monday, don’t put the task off until the following Friday.

Prepare a Customized Proposal for Each Prospect

Create a homeowners insurance plan unique to each prospect. In most cases, that will mean using some creativity to come up with a cost-effective solution to challenge the high rates the prospect is currently paying. In other cases, it will mean adding riders or increasing coverage to create a plan tailored to the client’s lifestyle and concerns.

Aged Leads Need Nurturing

Remember that many aged insurance leads were once brand new leads who somehow slipped through the cracks without getting the product they wanted. Take some time now to talk to them about their goals and options, and you’ll be amazed at how frequently that small commitment of your time will pay off by making sales and winning loyal customers.

Increased insurance premiums, decreased coverage, and an agent who is all but unreachable do not have to be a homeowner’s reality. Reach out to your prospects with personal attention and innovative plans that will challenge everything they “know” about insurance rates.