How to get 24 referrals from an average sale.

[CATHIEA]

Wolfman,
Your approach is old school life insurance sales. We've all been there done that and hopefully are smart enough not to return to that style of business. I live off referals and I never have to ask for them. Satisfied clients tell their friends. I would never want to be thought of as selling Amway....

[mhutch69]

You guys have way too much time on your hands. While you were playing with your computers, I just took 5 of clients.

Type all day, that way, us real sales people are selling...

[InsAgentSF]

Ypu stole my clients!!!!!!!!!!!!!!!!!!!!! Thief!!!!!!!!!!!!!!!! Just kidding

[txinsurancemanager]

Great topic - how to effectively get referrals.

Wolfman's method is, as stated, a "classic" method. In today's world, I think you'd have to replace "phone book" with "cell phone" to get their friends' numbers.

Selling commercial P&C insurance, we're lucky if we can get a client to sit still long enough to even give us correct information about their business so we get them covered correctly, much less make them sit there and give us 12 referrals. Sometimes, I can get one or two from them.

And what's wrong with calling the referrals we do get and opening the conversation with "My name is Ima Insurance Agent and your friend My Client suggested I give you a call."

Anyway, since everyone seems to agree that Wolfman's method won't work, how do you P & C agents get referrals? I understand the thank you letter approach, asking when you deliver policies, and asking in transmittal letters with endorsements, etc.

I'm sure you guys DO get referrals. But how do you do so other than Wolfman's classic method?

One way I use is to give clients, friends, prospects 3 or 4 extra business cards. When I give them the cards, I say something like "I really appreciate your (time, business, consideration - whatever). If you know someone who needs help with their insurance coverages, give them my card. I really appreciate your help." This has resulted in referrals for me. So far, it seems as though these referrals are people with some very difficult insurance problems, which is okay also, but expensive. I often ask for a couple of extra cards from THEM and say I will refer people to them as well, which I've done. Now THAT makes them remember me.

Any other ideas?

[d's insurance store]

I gave up a long time ago on using the 'tried and true' methods in this new world of being an insurance broker/agent.

It's as if we're all looking suspiciously at other agents, sure they have stumbled on the one magic phrase that hypnotizes a new client into becomming a referring robot and sending all kinds of business to them. In fact, the previous writer saying that a majority of referrals turn out to be hard to place problems indicates to me that to the consumer, insurance is out of sight and mind until you either have to pay the premium or have had a claim. When you're paying, you're sure you're getting screwed by the carrier, and once you've filed a claim, you become damaged goods to the rest of the industry and often you find out you've bought a 'one claim' policy...use it and lose it.

I don't buy into the 'trusted advisor' image, where I distribute a lined sheet and ask for the names and numbers of 15 of the clients closest relatives and friends and offer to 'help them solve their problems'. I think that harkens back to the days of Jim Anderson and Father Knows Best, and it's not a realistic fit in this modern world.

I find that just by doing the best job I can, being available and listening, I will receive a certain number of referrals from existing clients. But having said that, these referrals tend to be the hard to help category because of my aforementioned theory that people just don't think about the product until after they feel wronged by their current policy people.

[Brandy]

I would have to agree with you. I've found in both the P&C and L&H the referrals are those who are in real need of help and not necessarily looking to change carriers or unable to for that matter.

[AZINSAGENT]

I have found that using a creative marketing fax cover sheet or email message when I forward a Certificate or Evidence of Property Coverage on behalf of my clients can work wonders.

Depending upon whom has requested the proof of coverage, you are often sending the document to the person in the company who is also responsible for their own insurance purchasing decisions, or may refer you to others with whom they have also requested Certs or Evidences and are getting no or slow responses.

Turn that mundane chore into another sales activity!

[houstonagent]

I know this is an old post but giving customer good quality service and meeting the clients needs is the best way for the customer to reffer you,I am sure they will be happy with the service you gave them and the clients will do the rest.

[benseattle]

What stuns me about many of the negative posts in this thread is the fact that the originator is criticized for actually ASKING for referrals. I can't help but feel that those who "hope" for good introductions are the ones truly living in the Old School world. Sure, sometimes a good job will result in a random in-bound call, but in my experience that's exremely rare... and my clients LOVE me. I still have to Ask.... and yes, there are right and wrong ways to ask, but in discussions with the top producers in my field, we all dare to gently but firmly prod and push for not only referrals by name but also introductions.

The very best Are Not Afraid to Ask.

Happy selling.

[spool32]

Farmers had two different methods, one was the big long sheet of 12 or 24 referrals and the other was a 3 line referral card. I never used either because I really didnt feel right about pressuring people into giving up friends and relatives.

I do still use 'A' method though. On the back of my card i have:

"Thank You! I appreciate the opportunity to earn your business!

If you know of anyone else that could use my help, please let me know! (So I can send you a gift card and my personal thanks)

Your kind referrals are the best compliment I could ever have!

Thanks again,

me"

From what I've seen, if you take care of your clients and they like you. They will tell their friends about you if and when an insurance conversation comes up with family and friends. I would rather have that kind of referral than a random name/number thats practically a cold-call.