Referrals, Referrals, Referrals

[warnerins]

From day one, even before we were licensed to sell, the importance of receiving, cultivating, processing and selling referrals has been beaten into our heads as the most effective way to grow a book of business. The referral is not only a warm call but more likely to stay on the books and generate more referrals. (It's always easier to get a referral from a referral)
You life insurance agents probably do it best…. As an agent for Northwestern Mutual Life some 20 years ago, I actually found myself tracking my referrals more religiously and diligently than I did my actual sales. Knowing that if that bucket of names dried up - I was in serious trouble.
My current P&C agency uses three or four very productive ways to generate a steady flow of names. One of these is an agency closing sheet. This form is filled out before any application that we are writing. The form consists of nailing down contact information (most importantly email addresses), asking the life insurance questions, re-affirming their understanding of coverages and/or lack of coverages that they are purchasing and finally referrals… referrals….referrals….
With that being said, I want your input. What are you doing that works the best to get referrals? What are you doing that you think is unique and creative to generate referrals? What percentage of (face to face asking the question) referrals make up your book of business?

 

[saieddie]

Re: Referrals...Referrals...Referrals...

I ask for referrals and testimonials every time I meet a client or prospect. In return, I cast a good luck spell on the person. Its been pretty effective so far, and I get alot of good energy in return.

 

[1manshow]

Re: Referrals...Referrals...Referrals...

right now, kicking ass on rate... nothing has been better for my agency than when our rate is real good... gonna ride that wave till it breaks

Photo of a client in every monday morning newspaper with a caption underneath (%$# agency just saved me $300/yr on my auto insurance)( no agency phone#, address or anything, they can look us up and I don't want it to look salesy)
We also do the summary sheet(like ur close sheet)
Emergency contact program
CSR's call clients on Bdays with congrats
Claims satisfaction questionnaires to both PH and claimant
Referral program, $10gas card/referral $50 monthly winner, $500 annual winner
Publish all of these in our newsletter occasionally to reaffirm the knowledge to our client base
We have a 3 step welcome mailing for new clients that goes out at 30, 90 and 180 days 30 day explains the referral program, 90 day explains why we will be calling about life ins and 180 day gathers testimonials with a $10gas card for their time

These seem to keep the referral pipeline pretty full. Hope it helps add to your ideas. Hopefully someone will post up something I can add to my list.

 

[gstker]

From day one, even before we were licensed to sell, the importance of receiving, cultivating, processing and selling referrals has been beaten into our heads as the most effective way to grow a book of business. The referral is not only a warm call but more likely to stay on the books and generate more referrals. (It's always easier to get a referral from a referral)
You life insurance agents probably do it best…. As an agent for Northwestern Mutual Life some 20 years ago, I actually found myself tracking my referrals more religiously and diligently than I did my actual sales. Knowing that if that bucket of names dried up - I was in serious trouble.
My current P&C agency uses three or four very productive ways to generate a steady flow of names. One of these is an agency closing sheet. This form is filled out before any application that we are writing. The form consists of nailing down contact information (most importantly email addresses), asking the life insurance questions, re-affirming their understanding of coverages and/or lack of coverages that they are purchasing and finally referrals… referrals….referrals….
With that being said, I want your input. What are you doing that works the best to get referrals? What are you doing that you think is unique and creative to generate referrals? What percentage of (face to face asking the question) referrals make up your book of business?

Tim would you be so kind to share the other referral methods you find that work. I am a new agent looking to build my referral network. thank you

James
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right now, kicking ass on rate... nothing has been better for my agency than when our rate is real good... gonna ride that wave till it breaks

Photo of a client in every monday morning newspaper with a caption underneath (%$# agency just saved me $300/yr on my auto insurance)( no agency phone#, address or anything, they can look us up and I don't want it to look salesy)
We also do the summary sheet(like ur close sheet)
Emergency contact program
CSR's call clients on Bdays with congrats
Claims satisfaction questionnaires to both PH and claimant
Referral program, $10gas card/referral $50 monthly winner, $500 annual winner
Publish all of these in our newsletter occasionally to reaffirm the knowledge to our client base
We have a 3 step welcome mailing for new clients that goes out at 30, 90 and 180 days 30 day explains the referral program, 90 day explains why we will be calling about life ins and 180 day gathers testimonials with a $10gas card for their time

These seem to keep the referral pipeline pretty full. Hope it helps add to your ideas. Hopefully someone will post up something I can add to my list.

Thank you for the insight. I am a new agent getting started, and I want to make sure I hit the referrals hard. Thank you.

 

[warnerins]

Thanks for the response, all great Ideas. Some of the other things that we do are -

our monthly e-newsletter goes out to our new clients the day after the policy is sold. This has a link to our monthly referral contest on-line form ($100 winner gift card to Walmart).

Our life and health agent calls all new clients the following week and does his magic. The closing sheets are scanned to the file so he can pull those up for quick reference.

Our referral contest online form is emailed out every Monday. This is probaby our best source. I wake up every morning with one or two of these in my email in box.

Here is a link to that online form
Sorry I tried to post a link to it but received an error saying that I am only allowed to post URLs to other sites after you have made 15 posts or more.

email me if you want to see it.....

 

[Crabcake Johnny]

$100 to Walmart? Might I suggest classing it up a bit and offering $100 to a nice restaurant

 

[warnerins]

Re: Referrals...Referrals...Referrals...

I ask for referrals and testimonials every time I meet a client or prospect. In return, I cast a good luck spell on the person. Its been pretty effective so far, and I get alot of good energy in return.

Thanks for this, Is there a special dance or wand that needs to be mastered?
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The gift card to Walmart works.. Really... I think that it is a little more practical to let the family get what they really need. In these tough economic times it doesn't feel as good to give Mrs. Jones (struggling mom of four) a dinner for two at Les Fabulous. When all she wants to do is feed the kids.

 

[saieddie]

Re: Referrals...Referrals...Referrals...

Thanks for this, Is there a special dance or wand that needs to be mastered?
- - - - - - - - - - - - - - - - - -
The gift card to Walmart works.. Really... I think that it is a little more practical to let the family get what they really need. In these tough economic times it doesn't feel as good to give Mrs. Jones (struggling mom of four) a dinner for two at Les Fabulous. When all she wants to do is feed the kids.

Plus, with a WalMart card, you can always regift it to someone else. On the other hand, I typically use gift certificates from my clients businesses. Its good karma.

 

[warnerins]

Re: Referrals...Referrals...Referrals...

Plus, with a WalMart card, you can always regift it to someone else. On the other hand, I typically use gift certificates from my clients businesses. Its good karma.

Nice!!! I had not thought of the gift certs from existing clients businesses. Thanks so much for the input (I am throwing you good karma for the rest of the week).

 

[moonlightandmargaritas]

$100 to Walmart? Might I suggest classing it up a bit and offering $100 to a nice restaurant

You're just jealous 'cuz you didn't get one...

The gift card to Walmart works..I think that it is a little more practical to let the family get what they really need. In these tough economic times it doesn't feel as good to give Mrs. Jones (struggling mom of four) a dinner for two at Les Fabulous.

Gotta disagree.

Practical = logic = boring. A Wal*Mart gift card will be forgotten as soon as the diapers are used up...no emotion, or passion to it!

You give Mrs. Jones a treat she couldn't otherwise enjoy (dinner at Les Fabulous) "in these tough economic times" and she'll never forget you!