Worksite Marketing (Associations)
 

What Is Worksite Marketing?

Voluntary Benefits are optional benefit plans paid by the employee through payroll deduction.

Worksite Marketing or Workplace Benefits is the activity of offering voluntary benefits via payroll deduction at the worksite. As previously mentioned, these are the employee-funded benefits.

What are the Professional Worksite Marketing Enrollment Methods That Are Used To Enroll Employees

There are 7 Professional Enrollment models used to enroll employees in voluntary benefit plans offered to the employee and a professional enrollment indicates all eligible benefits have been properly communicated to every employee.

Here is a list of seven enrollment options which are sometimes used in combination with each other:

1. Face-to-Face One at A Time

2. Group Presentations

3. Group Presentations Followed By Individual Meetings

4. Interactive Voice Response often referred to as IVR

5. Internet Enrollments

6. Inbound Telemarketing and

7. Outbound Telemarketing

Who Are The Distributors Of Worksite Marketing Products?

1. We define the Broker as The Benefits Broker or P & C agent.

2. The Enrollment Firm handles Case management and arranges the enrollment assistance – he or she is the specialist. This is important because communication is one of the key differentiators between you and your competition.

3. Enrollment Specialist (Enroller) – The enroller is the licensed agent that communicates the information about the eligible programs to the employees – another specialist. They most often are independent contractors that work for an enrollment firm and also sometimes for a carrier.

What Companies Offer Worksite Marketing Products?

For a list of companies that recently were Sponsors and Exhibitors at Worksite Marketing Mania 2009, visit the Workplace Benefits Association website at www.workplacebenefits.org, or see a list of participating companies at Workplace Benefits Mania 2009 at: www.worksitemarketingassociation.com/worksitemarketingcompanies.htm

Which Products Work Best For Worksite Marketers?

There are a number of great products that work extremely well in the voluntary payroll deduction market and we want to you to understand why a product is or is not a good choice for this market.

• Make It Easy To Afford so the decision is easy and you don’t incur charge-backs.

• Don’t ask for more than One Hours Pay Per Week. A $20.00 per hour employee should not be asked to participate in a plan that is more than $20.00 per week.

• Don’t Compete With Existing Benefits – there are so many voluntary products to choose from you do not need layer similar coverage on top of one another.

• Make It Easy To Qualify – Simplified Issue, even guaranteed issue products abound in this market. There are also a great many non-insurance products that have no underwriting at all, so there is no reason at all to have upset employees because they didn’t qualify for one of the eligible benefits.

• Make It Easy To Understand – Complexity is the enemy for two reasons: time restraints and puzzlement.

Because the employees are being seen at the job during work hours, there is Only A Limited Amount Of Time that can be spent with Each Employee

• Don’t Show Too Many Products, our recommendation is no more than two new products should be offered in any given enrollment, and definitely no more than three.

• Why? There is a sales principle that says A Confused Mind Always Says “No.” Too many choices confuse all of us.

• The parallel to that is A Busy Mind Always Says “No.” The time it takes to explain too much information is a sales killer in this environment all by itself.

Here is quick list of the types of plans that are being used successfully.

Worksite Marketing Product Selection

1. Life Insurance

2. Disability Income / Accident

3. Supplemental Health / Mini-Medical

4. Legal Plans

5. Identity Theft

6. Long-Term Care and

7. Dental / Vision / Prescription Drug

8. Non-Insurance Products including computers and other major purchases

Your product selection is largely going to determine the outcome of your enrollment, so choose them wisely.

What Type Of Revenue Stream Does Worksite Marketing Generate?

Here is a benchmark formula we refer to as: WORKSITE MATH.

There could be some variance to these numbers depending on certain circumstances, but these are good benchmarks to start with.

1. Assuming a group of 100 Employees

2. You can reasonably expect that there will be about 40 Applications written or about (40%)

3. Each application will average about $400 generating a total of $16,000.00 of Premium

4. At 50% commission, which can vary be company and product of course, that group will produce about $8,000.00 of Commission.

5. And here is the most eye-opening number - each employee in each account you have represents about $80.00 of potential commissions.