Posted on Monday, January 20, 2014
Results from the first three months of the inaugural health insurance Open Enrollment were [released] (http://www.hhs.gov/news/press/2014pres/01/20140113a.html) by Health and Human Services last week. Unfortunately, they were less than climactic and didn't impress the masses. While December did shape up to be a decent month in regards to enrollments, the demographics of said enrollments were sub-par at best. In order to fight the rising costs of healthcare, about 40% of the policies purchased through the marketplace must be from the young generation, or those 18-34 years old. Only 24% of the 2.2 million policies sold were to those ages 18-34.
Such numbers make us wonder why. Why were less tan a quarter of the policies sold to the young and (presumably) healthy? Maybe the answer is that we don't know how to sell to the younger generation. They've grown up in a completely different way than Baby Boomers, so it would make sense that they have different purchasing patterns and preferences. They're socially connected, they ask questions, and they live off of instant gratification.
In order to appeal to the younger, healthier population, we must first learn how to sell to them. One of the best pieces of advice is to be hands-on and detail oriented. This is what they're used to and what they like (most of them at least). Below are a few tips and tricks for effectively selling to a Generation Y audience:
Use their lingo and technology to communicate with them - short emails and text messages will go much further than phone calls and letters
Be quick and to the point - you won't hold their attention for longer than 30 minutes (or 140 characters)
Let them customize their plans - they like being able to pick and choose options "a la carte" to get exactly what they want
They like to get something right away after making a purchase, so give them something tangible to hold them over