How to get 24 referrals from an average sale.

Wolfman97 · Post by **Wolfman97** » Sat May 27, 2006 6:24 pm

Here is a technique I learned for getting referrals.

First, you get some simple carbonless forms, and have them printed up so there is space to write twelve names and addresses on forms, six down each side of the form. There is a reason you want carbonless forums, so stay with me.

Then, when you have completed your sale and you are just doing the idle chit-chat that comes after, you get out your carbonless referral forms as part of the rest of the paperwork. Pull it out like anything else that must be filled out in the sales process.

When there is a break in the conversation, you say something like "You know, Joe, a successful business is built on the people you know and I think we have gotten to know each other pretty well and I hope you feel satisfied with the job I have done for you. Therefore, I would like to ask your help. Is there anyone you know that could benefit from my services?"

At this point, you should have the referral form on the table, ready to write on it. One of three things will happen. Some will say "sure" and you are on your way.

Some will be hesitant about siccing an insurance agent on their friends. With those, you will have to stop and reaffirm the friendship and assure them that you will treat their friends as friends. Furthermore, just to make sure that they are receptive, you won't call any of their friends until they have had a chance to call their friends and tell them the call will be coming.

Make sure they understand that they aren't trying to sell their friends anything. All they should do is just mention that a friend of theirs will be calling and to listen because it might be interesting.

The third thing that might happen is that they might want to help you but claim they don't know anyone. Ultimately, all of them will come to the point where they say they don't know any to refer.

But, let's say that they gave you a couple of names. As they give you the names, write them down on the paper and just ask them some friendly questions about what kind of person they are. Get the phone numbers, too, but reassure them that you won't call the person until they have called and paved the way. (Some will tell you to go ahead and call without them calling.)

When they run out of people they can think of, ask them if they have some kind of phone book, contact manager, or whatever. Most people do, so ask them to enter your name under J for Jones (your name, presumably). When they do, ask them if there is anyone under the Js that might be a good referral. When you have gotten all the Js, then ask them to enter you under Insurance, so they will know where to find you easily. Is there anyone under I that would be a good prospect? Then enter your name under T, for your first name, Tom. Is there anyone under T that would be a good prospect?

The basic idea is to get them going through their phone directory. I did it with some clients and finally had to wind up cutting them off after three sheets of paper -- 36 referrals in one sitting, all with the promise to call them and pave the way for me.

Then you take that carbonless form -- remember that? -- and you give them one copy of the form. You tell them that you will be checking back with them and you will let them know the progress of each -- if you have a success, you want this client to feel partially responsible.

The biggest problem with this technique is that you tend to get too many referrals. After you try it a few times you will probably decide to tone it down and stop after the first twelve with anybody.

billw123 · Post by **billw123** » Sat May 27, 2006 7:49 pm

This is the kind of stuff that gets us put into the same box as used car salespeople. This is 1950s thinking and it was terrible then!

Referrals of this nature are worse than cold calls - you stand a good chance of alienating both your client and the prospect!

I can guarantee wolfman wears green polyester and his hair greased back.

Wolfman97 · Post by **Wolfman97** » Sat May 27, 2006 7:53 pm

billw123 wrote:This is the kind of stuff that gets us put into the same box as used car salespeople. This is 1950s thinking and it was terrible then!

Referrals of this nature are worse than cold calls - you stand a good chance of alienating both your client and the prospect!

I can guarantee wolfman wears green polyester and his hair greased back.

OK, so you can see what you know about the subject. I sold primarily to doctors, lawyers, and similar types, and won more than my share of awards at it. My low year was my first one and I did almost 2 million in whole life to professionals. Of course, since my clients were professionals when they referred someone, it generally had some credibility.

92builder · Post by **92builder** » Sat May 27, 2006 8:24 pm

bullshit.

Wolfman97 · Post by **Wolfman97** » Sat May 27, 2006 10:11 pm

92builder wrote:bullshit.

No bullshit at all. Sorry to disappoint you.

scott · Post by **scott** » Sun May 28, 2006 7:50 am

Wolfman,

Send me one of your "carbonless" sheets with 12 referrals on it. It must be dated between 5/1/05 and 5/1/06. The referral source must be a doctor or lawyer who I can call at their office.

I will call the referral source to confirm your approach and half the referrals. Also send a commission sheet or other proof that you made a sale that resulted in income to you of more than $1000 to any of the referrals.

Get me the info in the next week. If it worked as you say it did I will pay $500 to the American Cancer Society in your name.

Put up or shut up.

Wolfman97 · Post by **Wolfman97** » Sun May 28, 2006 8:01 am

scott wrote:Wolfman,

Send me one of your "carbonless" sheets with 12 referrals on it. It must be dated between 5/1/05 and 5/1/06. The referral source must be a doctor or lawyer who I can call at their office.

I will call the referral source to confirm your approach and half the referrals. Also send a commission sheet or other proof that you made a sale that resulted in income to you of more than $1000 to any of the referrals.

Get me the info in the next week. If it worked as you say it did I will pay $500 to the American Cancer Society in your name.

Put up or shut up.

It is always nice to meet someone who knows everything there is to know.

Sorry to disappoint you, but I haven't worked directly in insurance sales for some time now.

But, the point is to get the salesperson to ask and to give them a method for opening the customer up and getting them to talk about referrals. It does that.

You can believe it or not, as you want. However, you will be seeing more about sales techniques in places other than this later this year, and when you do, it will be backed by a major carrier.

Stay tuned. You heard it here first.

And thanks for all your concern about me.

sanddog1 · Post by **sanddog1** » Sun May 28, 2006 7:53 pm

OK I have seen other side of Scott. Scott you rock I love to see a professional at work. (Wolfman97) your full of BS, Scott the man is right on the money dude, you are full of SH*.
Please don't be another jack ass (I mean mule) SO what are you trying SPAM

Wolfman97 · Post by **Wolfman97** » Sun May 28, 2006 9:05 pm

sanddog1 wrote:OK I have seen other side of Scott. Scott you rock I love to see a professional at work. (Wolfman97) your full of BS, Scott the man is right on the money dude, you are full of SH*.
Please don't be another jack ass (I mean mule) SO what are you trying SPAM

Like I said, I tried it, and it works. If you don't want to try it, that's your choice. But it ain't BS, and until you try it you have no real way to judge.

I could also tell you a method we used where we collected a check for a life insurance policy 80 to 100 percent of the time (depending upon the salesperson doing it) on the first interview. I should add that all those interviews were doctors, lawyers, and similar professional types. But you have decided it is BS already so there is no point in sharing. There is certainly no way to do it that you haven't thought of.

But I don't really care what you think of it. Different strokes for different folks and if you have a problem with anyone offering tips on anything then the problem is yours, not mine.

But, stay tuned and you will definitely see what I know about insurance sales, coming later this year.

InsAgentSF · Post by **InsAgentSF** » Mon May 29, 2006 12:08 am

I don't think we want to "stay tuned" you sound like a used car salesman

Wolfman97 · Post by **Wolfman97** » Mon May 29, 2006 5:43 am

InsAgentSF wrote:I don't think we want to "stay tuned" you sound like a used car salesman

Well, it won't require any effort on your pat, I assure you. I guess it all depends on the skill of the person doing the presentation. If you want to know the truth, the conversation on referrals never got past the point of "put me in your phone book". At the time the phone book comes out, you usually don't need to do anything more than ask who else is in there that might be a good candidate.

But, hey, you guys are the master salespeople who know everything there is to know, and this couldn't possibly work, so what do I know? I am sure there isn't a sales technique in the world that you haven't heard of and mastered.

Porter · Post by **Porter** » Tue May 30, 2006 4:31 pm

Just because you got a # from some joker does not mean you can call them. What if they are on the "Do Not Call List"? You still need to scrub the #. Most professionals will be on the "Do Not Call List". My referral program is very simple. "If you know anybody who is in the market for insurance give them my #. Every referral I write I give some kind of gift certificate as a thank you"

Wolfman97 · Post by **Wolfman97** » Tue May 30, 2006 7:23 pm

[quote="Porter"]Just because you got a # from some joker does not mean you can call them. What if they are on the "Do Not Call List"? You still need to scrub the #. Most professionals will be on the "Do Not Call List". My referral program is very simple. "If you know anybody who is in the market for insurance give them my #. Every referral I write I give some kind of gift certificate as a thank you"

Porter · Post by **Porter** » Wed May 31, 2006 9:01 am

After the close you ask for referrals. Then you send a thank you letter and in the last paragraph you ask for referrals again. Then every time they make a change to a policy you send them another letter that says thanks for allowing us to service your insurance and you ask again and again. Some how or another it all comes together.

Reflex · Post by **Reflex** » Wed May 31, 2006 10:52 am

Wolfman97 wrote:
sanddog1 wrote:OK I have seen other side of Scott. Scott you rock I love to see a professional at work. (Wolfman97) your full of BS, Scott the man is right on the money dude, you are full of SH*.
Please don't be another jack ass (I mean mule) SO what are you trying SPAM
Like I said, I tried it, and it works. If you don't want to try it, that's your choice. But it ain't BS, and until you try it you have no real way to judge.

I could also tell you a method we used where we collected a check for a life insurance policy 80 to 100 percent of the time (depending upon the salesperson doing it) on the first interview. I should add that all those interviews were doctors, lawyers, and similar professional types. But you have decided it is BS already so there is no point in sharing. There is certainly no way to do it that you haven't thought of.

But I don't really care what you think of it. Different strokes for different folks and if you have a problem with anyone offering tips on anything then the problem is yours, not mine.

But, stay tuned and you will definitely see what I know about insurance sales, coming later this year.

Wolf:

I believe your system would work (depending on the salesperson, as you mentioned). I have seen many "unorthodox" methods work to close sales or obtain referrals.

I would really like to hear your method of closing life insurance sales.