The Art and Science of Referrals

What would you do or change about your Agency if you knew you were leaving potentially 50% of the sales possible for you on the table?  If you did not have to spend more marketing, advertising or lead dollars to obtain this would you listen and IMPLEMENT?  If you would take action and do something about it then this is the message you were meant to hear today.

If you don’t care or won’t take action….YOU CAN STOP READING RIGHT NOW!

Let me begin by saying there is a system, psychology and a process that you are likely missing both you and your Teams that could drastically change the volume of warm, interested prospects in which you speak with and communicate with daily.  This starts with you truly grasping this quote below:

“When Value Is Perceived Referrals Should be Received”

Let’s dissect what this simple YET powerful quote means.  In all your communication with both prospects and clients if at your soul level you know that you have provided value, either in the form of education, coverage, value, service or knowledge THEN you have earned the right to ask!

The Next Question Is Then How Do I Ask?

This is where the art and science of referrals comes into play.  I will give you a sample script and then we will dissect the psychology behind it.

• “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 the people business and I rely heavily on my clients for their help in referring me to new people.  Do you know 3-5 people like friends, family, neighbors or co-workers that would appreciate a review of their insurance and invesmtent 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 and nod if in person)  As you  know (Name) I’m in the people business and I depend on people for their help in referring me to new clients.  Do you know 3-5 people; a friend, neighbor, relative or co-worker 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!

Now let’s DISSECT the script…so you grasp the power!

• I am happy to have you as a client and look forward to servicing you and your family’s insurance and investment needs (PEOPLE LOVE BEING APPRECIATED AND RECOGNIZED, lowers their defense with gratitude)
• As you know I am in the people business and I rely heavily on my clients for their help in referring me to new people (set the frame for the ASK, also letting them know you value their support)
• Do you know 3-5 people (psychological when giving a number to think about their mind starts to subconsciously start thinking about 3-5 potential people. THIS IS BIG)
• like friends, family, neighbors or co-workers (you have set the frame of how many people to get their mind thinking about now you are creating the image in their mind of who these people could be)
• If in person go to writing position and look down to paper, if over the phone go silent (you are assuming the close at this point, if you followed the steps and your body language and energy is expecting referrals your likelihood to receive is exponential)

As we get ready to wrap up today I challenge you to practice this and also track it.  Historically, in my experience the most common way that Insurance Agents ask for referrals is this; Thank you for your business, if you know someone I can help please let me know or refer them to me.

Somebody just reading this is raising their hand and saying…THAT’S ME!  That’s how I have been doing it.  My question to you is, how has that worked out?

Try something new and use these tools in this message to help you and lastly start tracking every interaction in which you or a Team member have provided value and using this technique of always asking for 3-5 referrals and guiding their mind through the process will lead to on average 1-2 referrals in each transaction and I am confident that is more than you are getting today!