According to a 2023 study published by HubSpot,* there's a 60-70% chance of retaining an existing customer, but only a 5-20% chance of selling to a new one. Customer retention is clearly the surest way to make a sale.

So what do members want if they're going to stay on our Medicare plan? The same study says 74% of customers care more about feeling understood and appreciated than they care about product offers.

Here are 5 great ways to improve retention by helping your members feel valued.

Personalize wherever possible: Get to know your members so you can make each person feel like you really understand them

Establish trust: Offer Medicare support, be their problem-solver, follow up on their questions, and be reachable by phone, email or website

Educate members on our service tools: Empower them with resources by explaining how to use our app, website, provider directory, products and services

Communicate regularly: Send an occasional bulletin or newsletter, tell them what's coming, share success stories that inspire them to set healthy goals

Design and serve a customer experience: Molina Medicare is more than a health plan; it's an experience which you offer, customize, and improve according to the feedback they provide

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Molina Matters for Brokers 5/17/2023