Insurance Journal Forums

I am curious to know what you think of a client gift/referral tool that is a subscription to a popular magazine priced at around $15 that prints your company name and contact information on a customized front cover along with a message about different types of coverage? Is this a worthwhile marketing strategy to boost referrals?

I urge you not to fall into the trap of thinking there is a magic formula out there that will hyptomize your clients into actively soliciting referrals for you.

I would turn thumbs down on this idea because I think it's presumptive and intrusive to be subscribing to magazines on behalf of your clients. Have you been to anyone's insurance office lately and viewed the stacks of trade and general purpose magazines on the reception tables? Who has time? I think this kind of 'gift' is destined to the reception table of whatever business you send it to.

Referrals come about because you've offered services and policies that go beyond the norm for clients who APPRECIATE that sort of service and then they rub elbows with others who feel that same appreciation for that same level of service. And your clients don't run around proactively telling others of their great insurance experience...they do it reactively when the topic comes up, and only when the topic comes up. Think of your own interactions...do you start a conversation with a friend about the great oil change service you received yesterday, or would you pass along the name of that vendor if your friend first brought up the frustration about finding a good oil changer?

And if the best you can do for a client is based solely on price, then expect price comparison types of referrals. When a client has nothing more to say about you than you offered the best price, that's what will get communicated.

I'm not saying that any of this is your fault. We all have to stake out market segments that fit our styles and allow for growth or stability or at the very least, a very slow attrition rate as market segments go through their current changes.

You can run the best damn agency in the world, but if your market has no appreciation for the kinds of services you offer, then you'll still have to take a second job.

Final summary...save your money. Send a holiday card and calandar a review phone call in February or March. The client will think of you as more of a professional than if you just send a magazine subscription based on your needs.

Good luck.

Thanks so much for your response, I will take this into consideration. From a direct mail approach, the magazine gift program does have its benefits. Unlike a mailer or a gift card, clients will feel less compelled to toss out your reminders and notifications. It's also a consistent reminder of the services you provide, and fairly inexpensive especially if you have a targeted market. The program I'm referring to is with Sunset magazine, not a trade magazine. I know that realtors have really benefitted from using the program and their clients have really valued and appreciated the gift. Thanks again for your input.

-Deleted Post-

Before purchasing any item to be given to clients, etc. it is always wise to find out what your local and state regs are in regards to client gifts. There are dollar amount limitations in every state.

You said it very well d'insurance store.
Kristen, this is insurance not real estate. Why would you think you would get referrals from this marketing method?

Everybody is looking for the golden back-door.

I don't understand... this business isn't digging ditches in the cold rain. It's EASY! The late, great Ben Feldman summed it up for me years ago... he said "get off your butt and SEE THE PEOPLE!".

Thanks, again, Ben.

Swymmer

[quote="wlunday"]Everybody is looking for the golden back-door.

I don't understand... this business isn't digging ditches in the cold rain. It's EASY! The late, great Ben Feldman summed it up for me years ago... he said "get off your butt and SEE THE PEOPLE!".

Thanks, again, Ben.

Swymmer[/quote]

Actually I believe you are on to something here.................................GET OFF YOUR BUTT AND SEE THE PEOPLE


My last employer's father would hand deliver what ever renewal or new business that came in the mail for us to send to the insured. And after he fell Ill a few years back, everything started to get put in the mail, and the clients would call and ask what was up that the OLD GUY THAT HE DIDNT HAND DELIVER THEIR POLICY THIS YEAR!