Digital Marketing for Late Medicare Buyers

Written by Jessica Adkins

June 20, 2018

It’s likely you’ve already begun your AEP marketing prep. As a Medicare insurance agent, the stakes are high, and your goals are clear; entice Medicare eligibles to choose you as their insurance agent during the AEP! An average of 10,000 people turn 65 and become newly Medicare-eligible per day. And there’s more to come! The total number of people eligible for Medicare is projected to grow to 80 million by 2030. In a competitive environment, improved marketing performance can mean a substantial increase in your income.

Marketing Medicare to age-in’s is traditionally done via linear channels, and outreach efforts come to a halt if the consumer doesn’t opt in by their 65th birthday. With this approach, you’re missing out on the 20% – 40% of buyers who are “not ready.” Instead, you should be focusing on the unique needs and circumstances of all new-to-Medicare individuals.

With the new reality of consumers retiring later, and they are more digital than ever, early adapters to the fast-growing audience have a substantial revenue opportunity at their fingertips. Here are a few tips to reach your target market:

  • Reset your approach to “Ready now or Ready later.” Rather than going after those about to turn 65, address the value of the later buyers.
  • Digital engagement is now a requirement. New-to-Medicare consumers are using digital in health more than ever, and adoption will continue to grow. Connect with them through social media, blog posts, articles, and other unique digital campaigns.
  • Personalize the digital journey. The life situations of individuals reaching Medicare age are all different. Use the data to deliver relevant content (i.e., working past retirement age, caregiving, building a nest egg, etc.) and become a valued and respected source.

People are delaying retirement and sticking with their group insurance for a variety of reasons. The Social Security “full retirement age” (with maximum benefit) is 66 and two months incenting people to work beyond age 65. Some receiving medical coverage through their employer might keep it to cover a spouse who is not yet eligible for Medicare. Others may only want to work longer to add to their nest egg. It’s important to not lose sight of these prospects.

Digital marketing strategies can help deliver the experiences your prospects want and expect. Nearly 2/3 of internet users (age 55-64 years old) made at least one digital purchase in the last year. And 70% of people nearing Medicare age report going online to perform at least one health activity in the previous year. What does this mean to you? It means that your digital marketing efforts should be focused on curating information for those buyers so that you become credible, searchable, and visible in your local market.

Take advantage of this opportunity and start connecting digitally, and differently. For more tips on unique digital marketing strategies, please contact Agent Pipeline at 800-962-4693

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