How Do You Get the Most Value from Every Lead?

Discussion in 'General Insurance Agent Discussions' started by Glen Shelton, Aug 7, 2017.

  1. Glen Shelton
    Offline

    Glen Shelton Well-Known Member

    Posts:
    1,777
    Likes Received:
    1
    State:
    Oregon
    Every week, agents ask me how to get the most out of their leads to maximize their marketing budgets.

    My first question back to them is always whether they have a follow-up process in place for the 90% of leads that don’t close on the first call. But even after you actually close a sale, there’s plenty of additional sales potential there that a lot of agents ignore. I always recommend that agents regularly cross-sell and ask for referrals to get the most from every lead.

    Since we wrote a blog post about these two strategies, I’m curious how many agents here actively cross-sell their clients (and even leads who don’t buy) or ask for referrals – and how often you do it, if you do??

    Our post shares some real-life scripts from other agents who contributed to our book, and I’d love to keep the conversation going here if anyone has cross-selling or referral scripts they’re willing to share.

    Learn How to Cross-Sell & Get Referrals

    [​IMG]
     
  2. alfredthomas
    Offline

    alfredthomas Member

    Posts:
    8
    Likes Received:
    0
    You have shared nice information here. You can get most of leads from customer referrals compared to other sources of leads like email marketing, direct marketing etc. There are many ways to empower customer referrals by engaging individuals in group gathering or discussions, leveraging the Internet or Advertising, or by collecting a powerful collage of testimonials. Effectively mining the most valuable source for leads will give you an advantage over 95% of your competition.
     
  3. Glen Shelton
    Offline

    Glen Shelton Well-Known Member

    Posts:
    1,777
    Likes Received:
    1
    State:
    Oregon
    Glad you enjoyed the article!

    I completely agree - referrals & testimonials can be very powerful.
     
  4. richreeves
    Offline

    richreeves Member

    Posts:
    19
    Likes Received:
    0
    State:
     
    Great article, Glen. Thank you for sharing this.

    A lot of sales rep forget about this. They are too focused on just closing the deal. They forget that they can maximize every lead by, as you said, cross-selling and asking for a referral.

    I personally think that referrals are one of the best things in sales. It's a quick way to build rapport, earn the trust of prospects, and eventually win the deal. I ask for referrals not only from prospects but also from current customers as well. That's the reason why it is important to create and maintain a relationship with everyone we engage with.
     
  5. BADTROUT
    Offline

    BADTROUT Well-Known Member

    Posts:
    118
    Likes Received:
    13
    State:
    Colorado
    Customer referrals will always be the best lead source... find a way to cultivate what you have.
     
  6. epiultra
    Offline

    epiultra New Member

    Posts:
    1
    Likes Received:
    0
    So with leads i dont get it, if say you buy 50 leads for $300, but only make two sales, well after taxes and expenses isnt that only like $10/hr???
     
  7. 10X
    Offline

    10X Active Member

    Posts:
    30
    Likes Received:
    1
    Nice article! Well done!
     
  8. walthamny
    Offline

    walthamny Well-Known Member

    Posts:
    373
    Likes Received:
    1
    State:
    Massachusetts
    I use some of these strategies. I think for a new comer, it is very important to avoid like Todd King said open ended questions like who do you know? A beginner can use something like this. I am trying to build my business in your neighborhood. Is there any neighbor I should really avoid talking to on your street? The biggest mistake a beginner makes is to measure business by sales.
    You are building your book of business from day 1. You also have to measure the number of prospects with adresses, contacts on social media, the number of DOB and marriage anniversaries in your database.

    More intermediate referal strategy is Linkedin. You should check your new clients profile and look for people they have written endorsements. And say something like I saw that you are friends with Blablabla, I have been trying to build my business in (whatever industry). Do you think it is easier for me to reach him at his business or home. And see if you can get permission to use your clients name. If you are getting cold shoulder, it usually means something wrong in your sales cycle, you are not referable yet. It is better to fix that before asking for referals. The phone ratio on calling someone who has written something publicly like this is near 100%.

    Advanced referal is that you dont do anything and referals just come to you.
     
  9. Markthebroker
    Offline

    Markthebroker Well-Known Member

    Posts:
    58
    Likes Received:
    1
    AlfredThomas hit the nail on the head. My business is 100% referral, and my close rate is through the roof. I haven't paid for advertising in 3 years, and probably never will again.
     
  10. ginniferhadley
    Offline

    ginniferhadley Well-Known Member

    Posts:
    49
    Likes Received:
    0
    State:
     
    Informative post.
     

Share This Page