Monthly Archives: May 2018

2019 ObamaCare Rate requests surfacing

Fox News in an article (click here) is reporting as follows:

Maryland insurers Carefirst, Kaiser, Blue Cross and Blue Shield are requesting an average 30 percent increase.  Some of the richer PPO plans have a 91% rate increase request.    Virginia is following suits with increases of up to 64%, although Anthem Healthkeepers is only requesting 6%.

 

These are the first two states to release information on pending increases;  all increases have to be approved by the State Insurance Departments.

Can you get my attention in 20 seconds?

I have a list of ten rules I have accumulated over the years from various sources, and the first of these is called “Friars Law.” Named after a local Marketing Professor here in Summerville, Jim Friar.  Jim has a lot of great sayings around marketing such as “You know what happens when you don’t do any marketing?  Nothing!”

Friars law is always having your elevator speech ready – I have met many entrepreneurs in both my business and with SCORE, who cannot describe what they do in less than 5 minutes! Since you get about 20 seconds to get (or lose) someones attention, you need to finally hone this down, in my mind, to perhaps 3 sentences.

Ask yourself “What do I make or do?,” “Who is my target market” and “How does this help my clients?” Now compact that into three sentences.  Or less.

If you are an IT guy/gal, it could be “We help businesses be as productive as possible, with a minimum of downtime, so they can focus on their customers.” If you are a bakery, it could be “XYZ Bakery goods will wow your family,  friends and clients with tasty quality cakes and cookies.  Why spend all those hours cooking (and then cleaning) your kitchen?”

In my case I am currently using “I am the business owners point man on everything they love- High Insurance Premiums, ObamaCare and Compliance issues.” If I can get a business owner to laugh, they get my point, and I have their attention.

Remember that everyone you meet has a ballcap that says “WIIFM” – whats in it for me. If you cannot tell them why they should be interested in you right now, you are just one more person they met.

May 2018
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Reeve Conover is a Registered Representative. Securities offered through Cambridge Investment Research, Inc., a Broker/dealer member FINRA/SPIC. Cambridge and Conover Consulting are not affiliated. Licensed in SC, NC, NY, CT, NJ, and CA.
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