“Referrals – The best marketing program available today.”
Quality referrals are warm people to contact with whom you will already have credibility. Credibility naturally occurs because you are being referred by a friend or family member. Other prospecting methods, such as advertising, direct mail and cold calling will produce results. However, the cost to benefit ratios of these methods will not compare with the results produced by quality referrals.
When asking for referrals, be sure that you have earned the right to ask. Are you well acquainted with the person? Did they learn something from you today? Have you provided them with something of value? When you have earned the right to ask, you can expect to get referrals. If referrals are expected and that expectation is communicated properly, nominators will respond with many good referrals.
Here are several different ways to cross that bridge:
Remember this: Make eye contact and smile when you begin to ask for the referral. After asking, look down and prepare to write the information. Count to ten. This relaxes the prospect and compels them to give you a name. Body language is very important. (if asking over the phone, once you ask be silent for a few seconds it will be uncomfortable but the awkward silence will help client think of possible referrals)
- “I am happy to have you as a client and I look forward to servicing you and your family’s insurance and investment needs. As you know, I’m in a people business and I rely heavily on my clients for their help in referring me to new people. Do you know anyone who would appreciate a review of their insurance and investment needs?” (If in person go to writing position and look down to paper, if over the phone go silent)
- “I hope that I have helped you learn something today about your insurance. (smile & nod) Good! As you know (Name), I’m in a people business and I depend on people for their help in referring me to new clients. Do you know someone; a friend, neighbor, relative or coworker who would appreciate a review of their insurance?” (If in person go to writing position and look down to paper, if over the phone go silent)
- “(Name), I need your help. My business is based on referrals from people like you. Do you know someone; a friend, relative or coworker, who can also benefit from my services?” (If in person go to writing position and look down to paper, if over the phone go silent)
- “(Name), I need your help. As you know, I’m building a new insurance agency. This is a people business and I rely on people for their help in referring me to new clients. Do you know someone; a friend, neighbor, relative or coworker, who can benefit from my services?” (If in person go to writing position and look down to paper, if over the phone go silent)
Contact the referrer after you solicit each referral. Let them know what the results were. This is a professional courtesy. They will appreciate this and may offer more referrals.
It’s all about communication. Communicate properly, and you will get what you ask for.
THOUGHTS TO PONDER TODAY: Do you have the capacity to “SHUT UP”? I do not mean that harshly yet in the act of Sales and specifically asking for referrals, once you ask CONFIDENTLY, you need to “SHUT UP” that awkward silence will create urgency for the client/prospect to think about a Referral. For he/she who speaks first loses!!! Do you systematically ask for referrals? Do you expect your team to ask systematically for referrals? Have you hand written a “Thank You” card to the last referrer who provided you with a referral? WHAT CAN YOU DO TODAY TO GET REFERRALS? WHAT IS YOUR BUSINESS GOAL IN REFERRALS EVERY WEEK? Who is responsible for tracking the referrals your Agency/Business receives? For that which is planned and tracked bears fruit!!!!
John Lucero, is a successful business owner with over 20 years of experience in multi-line insurance agency operations for several major National Brands. With an expertise in Recruiting, Educating, Coaching, Developing and Product Knowledge, his passion and drive to ELEVATE Insurance Agencies to higher levels of success is what keeps him inspired about the future and motivated about making a difference.
