Referrals

Jan 18, 2007

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Where do your homeowners insurance referrals come from

  1. Realtors

    1 vote(s)
    6.7%
  2. Mortgage Broker

    5 vote(s)
    33.3%
  3. Banks

    0 vote(s)
    0.0%
  4. Other

    9 vote(s)
    60.0%
  1. somarco
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    somarco That Medicare Guy

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    Over the last few months I have seen my referral business really start to climb. In Oct 06 77% of my new business was referral. In Nov it dropped to a still respectable 30% and in Dec back up to 50%.

    The interesting thing is, none of this was solicited and I have yet to kick off my newsletter . . . something I have been threatening to do for almost a year.

    What is your experience?
     
    somarco, Jan 18, 2007
    #1
  2. Frank Stastny
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    Frank Stastny Guru

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    The last quarter of the year has always been extremely good for me, especially December when most agents claim they are having a tough time making sales. This includes referrals. I have tried to figure out why and haven't been able to come up with a good reason.

    I have been doing a news letter as well as sending other letters throughout the year for quite a while. I attribute most of my referral business to the fact that I stay in constant contact with my clients. You may be very pleasantly surprised at the increase in referrals you get once you actually do start sending regular correspondence to your clients.

    Not only did my referral business skyrocket when I started sending letters but my persistency increased dramatically. Keeping existing clients is a lot easier than having to replace them just to keep your income level.
     
  3. Crabcake Johnny
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    Crabcake Johnny Guru

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    When I was brand in this biz I had this irrational fear that by staying in touch with my clients I'd actually trigger lapses. I imagined this call:

    "Thanks for calling us because we're having problems and want to cancel."

    I probably got that fear from my UGA days. I also had to learn to get out of "tag it and bag it" mode that I've been used to in sales. I was horrible when I was new. Basically, after the deal went into underwriting they never heard from me again and referrals were horrible.

    But you're dead on right. Clients very much appreciate communication and my newletters and even occation "how's it going" calls have drastically improved my referrals.

    I'm also moving into physical newletters this year instead of Constant Contact.
     
  4. Frank Stastny
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    Frank Stastny Guru

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    When I first started I was told never to return a phone call. It was explained that the client may be calling to cancel and if I don't return the call they will forget that they wanted to cancel. I almost always return calls the same day.
     
  5. somarco
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    somarco That Medicare Guy

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    Just the other day I heard that close to 80% of people have access to the internet. It makes me wonder how effective print mail really is any more.

    Personally, I am just as likely to toss a newsletter, even one from someone I know, as I am an email.
     
    somarco, Jan 18, 2007
    #5
  6. Frank Stastny
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    Frank Stastny Guru

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    I send my newsletter on statiionary with matching envelopes. Each letter is personally addressed, Dear Mr. Smith or Dear Bob.

    The newsletter contains both business information and personal information. It usually has a picture of some sort for the heading. I try to make it entertaining as well as informative.

    For the most part I attempt to develope a personal relationship with my clients. I want them to know me as a person, not just an agent. That is the whole purpose of my newsletter.

    When Jacqueline and I got married the newsletter had a pic of the two of us standing on the beach. The letter started out with, "I just learned never to say never..."

    My "Happy Spring" letter had a pic of a field of spring flowers in bloom at the top. (I know, very corny, but effective.)

    My clients look forward to my goofy letters and if they don't get one they call to make sure I send them one.

    One client took the pic of Jacqueline and me to a frame shop and had it matted and framed and it now sits on her mantle. Others have every newsletter and birthday letter I have sent them in their insurance folder.

    Make it unique, spend some time on it and make it entertaining. If you send it they will read it.
     
  7. Bob_The_Insurance_Guy
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    Bob_The_Insurance_Guy Guru

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    When I send out my monthly constant contact newsletters, I always include links to other sites, information, etc. Some having to do with insurance, others not.

    I experience a much higher click through rate, and much warmer receptions when I call, and, yes, more referrals from it. I even have clients forward the e-mail newsletter to others. Much easier to do than to make a copy and pass it along with a paper newsletter.

    It sounds trite, but most referrals come when you least expect them to. They mostly happen through networking as well. I does come and go in spurts, but that's good. It keeps us on our toes.

    I also send out constant contact newsletters to the leads group I formed, and the job seekers group I facilitate. I get alot of STM business through this.
     
  8. somarco
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    somarco That Medicare Guy

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    Outstanding marketing concept.
     
    somarco, Jan 19, 2007
    #8
  9. Crabcake Johnny
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    Crabcake Johnny Guru

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    If you're not sending some type of newsletter, be it an e-newsletter or physical you're missing untold thousands in renewals and it's costing you thousands in laspes.

    After clients receive the policy most likely they misplace your info. Months later they probably forgot your last name and phone number. What they do remember is the insurance company.

    This might be happening:

    Client's friend: "Man, I need to find some better health insurance. My rates are going through the ceiling.

    Your client: "I just got a great plan and it was pretty cheap. I forget the name of my agent....John something. Shit, I forgot his number. But here, I have my insurance card. Just call Asssurant at this number."

    Constant Contact is the way to go. It's even free for the first few months. If anyone wants to see my January newsletter just ask.
     
  10. salpro22
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    salpro22 Guru

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    I would like to see a copy of the newsletter.
     
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