As an insurance agent, you might often ask yourself how to ensure long-term success in the insurance industry?
One of the answers is quite simple… ask for referrals and you will receive them. Of course this is easier said than done and will require some effort as it is an often forgotten task in insurance sells. Many may think asking for referrals as invasive or uncomfortable for an agent, but remember that there are other agents that have no problem asking and are quick to give up trying at the first “no.” These agents will often end their insurance careers too early due to lack of prospects to call on.
One thing that any agent who wished to maintain a lifelong career in insurance is that asking for referrals is a prerequisite to a successful sales career and it should become a permanent part of your sales process. Every person more than likely knows someone who needs insurance so here are five methods for generating referrals.
1. Be sure to ask your prospect before, during, and after your presentation. You may lose a sell but it’s more important to try and get a referral. If you do a good job in your presentation of being informative, helpful and likeable quite often you will find prospects offer referrals without asking. Whether you’re talking about lawn mowers or insurance odds are the person you’re talking to is thinking of other people that might have questions and needs. Again, everyone knows someone who has or needs insurance and you simply must just ask.
2. Follow-up is key in everything you do in life. A great time to ask for a referral is when talking to an existing client during a routine or service-oriented call. Perhaps this can be done when you delivery the policy or after a policy is received by your new client. Also ask for referrals when a client contacts you or during an annual renewal notice, product upgrade bulletin or other correspondence from the insurance company requires communication with your client. Your client already trusts you and are comfortable with you and this is another great opportunity to ask for a referral.
3. Advertise – With the Internet, technology and other means there are many ways to advertise your services such as: a website, email, forums, or simply handing out your business card. I always have business cards with me and hand them out quite often. While the Internet allows you to contact the masses quickly, many still appreciate the personal approach so as to build a bond of trust and likeability with an agent.
4. Buy leads -The insurance industry has hundreds of lead vendors from which you can purchase leads. They include: InsuranceLeads.com, Norvax, ProducerPipeline and many others.
5. Offer an incentive for referrals. Implement a referral process to existing clients and new acquaintances that benefits them and do so on a consistence basis then watch the referrals start to come in.
Referrals are a great source of new business and require minimal effort i.e. you just have to ask for a referral like you would ask for “the sell.” What’s important to remember is that you must try new methods of lead generation and do so with 100% effort and do so consistently to give each method an honest try. It’s also important to diversify your lead generation methods as well so as not to put all your eggs in one basket. Hope you were able to take away one thing of value that you will try to generate new business and good luck in your efforts!