Referral Programs?

[theinsurancelady]

What referral programs have worked well for everyone here?

I have a small (700ish PIF), yet mature (20years old) book of business in a smaller town. Approx. 30k people. We do no, absolutely no advertising and or marketing, outside of a sign outside of our office. Every customer we get is by word-of-mouth, well I should say almost!

We are thinking of starting a referral program for our current customers to incentivize them into trying a little harder, and of course a more formal way of saying Thanks, we appreciate it!

We want to do something that customers will actually remember when the topic comes up of insurance.

What have you done that works?

How do you keep track?

Any help would be great!

 

[Frank Stastny]

What referral programs have worked well for everyone here?

I have a small (700ish PIF), yet mature (20years old) book of business in a smaller town. Approx. 30k people. We do no, absolutely no advertising and or marketing, outside of a sign outside of our office. Every customer we get is by word-of-mouth, well I should say almost!

We are thinking of starting a referral program for our current customers to incentivize them into trying a little harder, and of course a more formal way of saying Thanks, we appreciate it!

We want to do something that customers will actually remember when the topic comes up of insurance.

What have you done that works?

How do you keep track?

Any help would be great!

I have started sending one of the new presidential dollars when they first came out. You can get them from the mint in a folder that tells about the president. I think they are around $8.00. I have gotten a surprising amount of positive input from my clients. Since they issue four coins a year I have clients who are trying to get all four each year.

Other things I am thinking of sending out are prof sets of the state quarters issued each year. Maybe if a client gets all four presidents in a year I can give them a bonus of the state quarter set for that year.

How do I keep track? With YIO naturally.

 

[theinsurancelady]

Is YIO for Property and Casualty or just for Life and Health Agents?

At this time I only have maybe 10-15 l/h policies in force.

 

[Frank Stastny]

Is YIO for Property and Casualty or just for Life and Health Agents?

At this time I only have maybe 10-15 l/h policies in force.

There are a lot of P&C agents using it. Give me a call and we can see if it will do what you need.

 

[theinsurancelady]

Will do.....expect a call from me tomorrow.

 

[djs]

My referral program is pretty simple. When you refer someone to me, and they get a quote, I'll send you 2 movie tickets. These are pretty useful for almost everyone, and the few who don't do movies give them to someone who does.

Dan

 

[theinsurancelady]

How do you make sure they are aware of the program? I think a lot of my customers would also see a value in movie tickets and I've never heard of another agent around that does anything like that.

Do you have signage or flyers? Or is it more just something you say at the end of your meeting with them?

 

[djs]

Ideally, it goes out in my 30 day letter. I send out a letter to my clients at the 30 day point, just checking in to see if they have any questions. It's a great opportunity to introduce them to my referral program.

My problem is existing clients, I have to send them a letter individually, or mention it when they are on the phone.

Dan

 

[theinsurancelady]

What do you sell?

 

[djs]

Personal P&C, Business, Workers Comp, Life, Health, Bonds, Financial Services....

I believe in specializing, so I haven't gone to broad

Dan