Referrals – Four Proven Ways to Get Them

Referrals are the lifeblood of any insurance agent. These are the four best ways to get referrals. These are great refreshers. You might be surprised by the fourth.

  • Request a referral: Mr. Prospect, I would appreciate it if you liked what we have put together. Could you recommend anyone I should call? You then take out your pen, and wait. Although this technique is effective, it is wish-and-a prayer stuff. The prospect doesn’t see any reason to refer you. He just bought something. This should suffice.
  • Do something for your prospect. Do something that will motivate them to tell others about your company. One example is golfing. It works, but it requires a significant investment of time.
  • Gift them Almost every successful agent buys gifts for his clients around Christmas. An entire industry has been built around gift-giving. The Life Insurance industry published a book on family values in the 1970’s. Million Dollar Round Table Agents used it extensively to begin discussions about family values. However, the book was costly to send and many clients never opened them.
  • Offer to grant them a membership to a website if they like what has to offer. This is a win-win situation. Even if the prospect or customer does not want the membership, they will remember that you offered it. If they enjoy what they see they will remember you each time they log in. People talk about websites. People talk about websites and tell their friends. Imagine this: Bill, I just wanted you to know that my children loved the web site that you mentioned yesterday. Jenna helped Little Billy to draw a picture, and then put it in an electronic book. Dawn loved the book about monsters. Dawn fell asleep for the first times in two months, without needing to use the flashlight. It was a great gift to have a subscription. Marsha Greene, Dawn’s friend stopped by yesterday to listen to the book about monsters. She asked how I found it. I explained to her that we were given a free subscription and she replied, “That’s the type of agent I want.” I gave her my number. Got a pencil? It’s . . . .” If you are interested in giving a membership to an online site, which type should you choose? You could also give them a membership so they can trade or research stocks. A site that’s useful for families is a great choice if your bread and butter is estate planning and families.
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Also, you want to keep your costs low. Find a site with a high perceived value so that you can offer a deep discount.

How to offer a subscription: Don’t just give it. Give it value. You could say, “Harriet! I’d love to give you a subscription to one of our favorite websites.” Here’s the URL. Don’t buy anything if you don’t like what you see. Contact me and I will set up an account. Ask them to visit the website while you’re talking with them. Then, if they agree, ask them to look at the website for a year.

Subscription accepted. Follow-up. You now have something to talk about, other than insurance. You can offer to purchase a membership for their family, friends, and business associates if they enjoy the site. Ask them to refer anyone they know that would like the site. They will refer you.