Persistency Vs Referrals?

[TDFnCali]

I have had pretty good luck or whateva u wanna call it with persistency, Ive only had 2 ppl cancel before they received the policy from RNA & another let lapse that was only $17/mo (still pending, but I cant get ahold of her-so I assume it will lapse). I follow up with a phone call a few days after the sale once it's issued, then they receive a card with their picture in it a week later, another phone call 3mos later & cards on their Bday, Xmas & on 1yr anniversary. I also may stop by randomly if Im real close to say hi.

But, Ive only gotten 1, maybe 2 referrals in the 6mos Ive been doing this now....not counting friends & family, just lead referrals. I do mention it at the end of the sale, and casually ask, but I dont push if they dont give me 1 at the time.

What could be things I doing wrong to get referrals, or things I should be doing??

Thanks in advance!
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WoW, that was pretty cool....I follow Insurance Forums on Twitter, and they just tweeted this post out. I guess they just randomly pick topics they like....cool!!

 

[VolAgent]

JMO. Real referrals are trees and not weeds.

When I did the whole, press to get a referral, I got names. Those names never bought.

Now that I plant a seed and let nature take its course, I get very few referrals, but they tend to buy.

 

[TDFnCali]

JMO. Real referrals are trees and not weeds.

When I did the whole, press to get a referral, I got names. Those names never bought.

Now that I plant a seed and let nature take its course, I get very few referrals, but they tend to buy.

Thx, I know 1 lead referral bought, and I think I had another but they didnt....so 2 in 6mos seems extremely low to me. Seems Im doing something right with persistency, but something wrong with referrals, but not sure.

 

[Todd King]

TD, tell me how you're asking for referrals. What is it that you say to your client?

I'm going to bet there is a problem in the way you're asking.

 

[Josh]

Thx, I know 1 lead referral bought, and I think I had another but they didnt....so 2 in 6mos seems extremely low to me. Seems Im doing something right with persistency, but something wrong with referrals, but not sure.

Most agents suck at getting referrals. The reality is that 2 in 6 months is more than most agents get.

A few referral tips:

-Ask for them on every appointment
-You don't need to beg for them
-When asking for referrals, point out that although most folks can use your product, most people won't fill out a card or make a call.
-See if the prospect will call the referral and introduce you, that will give you a real good idea upfront if they're going to give you one and if the referral would have a decent interest level... also, it keeps you from having to call them

Again, referrals are tough and most agents don't get them, but get in the habit of asking every appointment and you'll definitely get more.

 

[gordon112]

Wrong, Good agents don't need to ask for referrals, they get them with a call.

I rarely asked for them, of course if I was a Picker, I would be asking (or begging for referrals)...I just love how American Pickers do it, "You know anybody that wants to get rid of there junk"

 

[Josh]

Wrong, Good agents don't need to ask for referrals, they get them with a call.

I rarely asked for them, of course if I was a Picker, I would be asking (or begging for referrals)...I just love how American Pickers do it, "You know anybody that wants to get rid of there junk"

I don't follow, "they get them with a call?"

 

[gordon112]

Your clients will call you, its that simple...if you did the right thing by offering better coverage, lower rates etc etc...they will be calling you with referrals...unless you are selling LH, then you might have hate mails...

 

[jdeasy]

^^I do not ask for referral but I get quite a few. I wrote 3 policies this week from referrals. In all cases the folks called me. Two of them were from people that had been on the books over 2 years.

 

[Rearden]

Use American Amicable's Free AD&D Program; worked well getting some names.