Customer Rewards Program?

[robtmccarthy]

Anyone had any luck with a customer loyalty / rewards program?
Or a call for a quote give away?
Looking a options for boosting personal lines sales.

Direct Mail just does not seem cost effective to me.
Passing out flyers cost effective but a lot of labor for little results.

My idea is to implement a reward just for getting a quote. Marketing mainly via internet, Facebook / twitter

NY & CT have strict rules on gifts I believe under $10? need to confirm that before I get slapped with a fine by the DOI.

I haven't started the program it is just a thought. If I give away $5 for a quote to me its cheaper because I did not spend big bucks sending out mass junk mail.

Just looking for some thoughts.

Thanks

 

[Norwayguy]

Anyone had any luck with a customer loyalty / rewards program?
Or a call for a quote give away?
Looking a options for boosting personal lines sales.

Direct Mail just does not seem cost effective to me.
Passing out flyers cost effective but a lot of labor for little results.

My idea is to implement a reward just for getting a quote. Marketing mainly via internet, Facebook / twitter

NY & CT have strict rules on gifts I believe under $10? need to confirm that before I get slapped with a fine by the DOI.

I haven't started the program it is just a thought. If I give away $5 for a quote to me its cheaper because I did not spend big bucks sending out mass junk mail.

Just looking for some thoughts.

Thanks

I'll take 100 quotes please...you can send my money to me via paypal at the email address below.

My first thought is this is whats wrong with much of the internet leads these days in that they are incentivized...ie you contact the prospect and they tell you flat out they had to request a quote for a chance to win a free ipod.

 

[Frank Stastny]

What you are talking about is not what I would consider "customer loyalty". They are not "customers" they are prospects and you aren't going to find any "loyalty" by paying them money to talk to you.

I don't think you are going to be majorly successful trying to "buy" business. There are people out there that will request a quote who have no intention of buying just to get the $5.

If 200 people request a "quote" that is $1,000 out of your pocket with no money coming to you.

People do not go to Facebook and Twitter looking for insurance but I'll bet once the word gets out that you are passing out $5 bills that the word will spread rapidly. You better have about $20,000 you want to piss away before you try that.

Learn to prospect! Selling insurance is work. The work part is prospecting. Spend the time, effort and money working with qualified buyers.

 

[Crabcake Johnny]

I helped my sister with a local trade show. She was selling her web services and literally the booth next to her was Aflac.

They had a prize wheel, were handing out the plastic ducks - creating all kinds of excitement.

Just about everyone stopped by their booth. Oh...not to talk to the agents but to spin the wheel, get a duck and leave.

 

[the mayor]

A local agent near me had "$5 lottery ticket with every quote" on her sign.

She did not specify " 1 per person".

All the local yahoos were there being pests...and when she tried to deny a 2nd quote/free ticket...the police were involved and the state DOI is "investigating"

What kind of clients do you think you'll get by waving a $5 bill?

 

[robtmccarthy]

Not exactly the response I was expecting...
You all made a good point.

And I understand Insurance is work. I see prospecting B2B as a valuable use of time. But for personal lines I have struggled to come up with a good value as well as ROI.

*Back to the drawing board*

 

[VolAgent]

Not exactly the response I was expecting...
You all made a good point.

And I understand Insurance is work. I see prospecting B2B as a valuable use of time. But for personal lines I have struggled to come up with a good value as well as ROI.

*Back to the drawing board*

The people you really want are those that change agents/company when they get mad at them. They aren't changing over small price changes. You need to design something to target the person that is aggravated at their current agent and motivate them to speak with you.

 

[Bertolinoins]

Any direct gift for a quote will draw the attention of the coupon book types who are not great prospects. I have had some success by marketing to existing customers for referrals. A quarterly drawing for a plasma TV, nintendo wii, iPad, etc has been successful. They key is to have your prize bing the hot new item. We advertise it in out online and paper newsletter and email blasts to our existing clients and our prospect database. It isn't a cash cow but it is fun and the roi has been 3/4 to 1.

 

[1manshow]

Here's our referral program, if it helpsReferral Rewards

 

[Newby]

Here's our referral program, if it helpsReferral Rewards

That looks very interesting and well done.