As an insurance sales professional, you probably spend a fair amount of time looking for new business. So it’s a welcome relief when business comes looking for you. This is the beauty of referrals.
A referral can come from a lot of various sources such as: current clients, former clients, family, friends, coworkers, other businesses and/or those you meet while enjoying a hobby or volunteering. You can’t control when a referral will contact you, but you do have some ability to increase the number of referrals you receive—by actively seeking them.
It will be easier to do this if you are intentional about building a referral program. Here are five tips to help you create a successful referral program at your agency.
Make It Simple
Make it easy for a client to send potential new business your way. Think about how you ask and be prepared to ask in different ways. With many clients, sending an email makes sense. Use a subject line like “So Glad We Could Save You Money!,” write a short message about how you’d appreciate any referrals, include a link to your website and make sure your phone number is prominent. The client can then easily forward that email. For clients who are active on social media, asking them to post a bit about their experience with your business tagged may be more effective. Others might prefer a text message that they can forward.
However you reach out, the best time to do it is when you’ve just wrapped up a positive interaction with the person you are asking—take advantage of those warm fuzzies!
Team Up with Local Businesses
In addition to working your clients, you can also create relationships with others in related businesses who may be able to help promote your services. If you’re selling homeowners insurance, try realtors and mortgage brokers. For auto insurance, reach out to car dealers and banks that offer car loans…maybe even auto-body shops.
Think about what value you can bring to these businesses, emphasizing that you can make their business easier or more profitable as an incentive. Can you produce a one-pager with your contact information on it that explains which auto coverages are required in your state versus those that are optional for a car dealer to hand out? Or an informational handout about flood insurance for realtors to hand out to homebuyers in flood-prone areas? Can you offer a quid pro quo and refer your clients to their businesses, too? Think win-win.
Automate the Process
The easiest way to make sure you are maximizing potential referrals is to automate your asks. When you use a Customer Relationship Management (CRM) software, like Velocify or Infusionsoft, you can create emails that can be sent en masse but that are still customizable. Automated programs allow you to schedule multiple emails in advance and reach out in a thoughtful way – without having to think about it.
Ask More Than Once
People are busy. If you ask someone for a referral and hear crickets, wait a bit and ask again. They may have missed your first request, or you may not have built the kind of rapport that would make them want to help you quite yet. Relationships develop over time. Just be sure your requests are always gracious and never demanding.
Give Thanks
Don’t forget to say thank you. This can be in the form of a gift, a handwritten note or a sincere phone call. Remember that the best way to thank someone is in the way that would mean the most to them. If you take a moment and consider who that person is and how they live their life, you’ll probably find some clues that will help guide you to the best option.
Overlying all of these tips should be your commitment to doing business in an honest, transparent, responsive and efficient way. This type of professionalism is what will ensure that your customers will want to help you build a successful referral program.
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