The Ultimate Insurance Referral Program Part Two...Copyrigh nsuranc A igh eserv...

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The Ultimate Insurance Referral Program

10 Bullet-Proof Referral StrategiesPart Two


PART TWO | 10 BULLET-PROOF REFERRAL STRATEGIES | PAGE 1

Part Two10 Bullet Proof Referral Strategies

New & Current Clients: Incentivised Referrals

Strategy 1: Call-In Referrals: $10 Gift CardStrategy 2: In Person Appointments: Agency Report CardStrategy 3: Homeowners Emergency ContactStrategy 4: Small Business Owners & Commission Sales RepsStrategy 5: Bulletin Board With Business Cards

Centers of Influence: Reciprocal Referrals

Strategy 1: Local Insurance AgenciesStrategy 2: Loan OfficersStrategy 3: Real Estate AgentsStrategy 4: Apartment Property ManagersStrategy 5: Local Mom & Pop Shops

New & Current Clients: Incentivised Referrals

New Clients

Strategy 1 Call-In Referrals: $10 Gift Card

Show Appreciation“I want to thank you for becoming our client, we are excited to be working with you for many years to come!”

State Your Goal“One of our main goals this year is to grow our book of business by getting referrals from our new clients and work with more people just like you.”

Ask For Referral“Who do you know from your friends, family, or coworkers that I could help by saving them money on their car insurance?”

Fronting The $10 Gift CardIf they tell you that they for sure have someone that they can refer to your agency, say this: “When do you think you’ll be talking to [Potential Referral]?

Great! Have [Potential Referral] give me a call at this number to get a quote from me. Can you do that?

Perfect. Since [Potential Referral] is going to call me to get a quote soon, I want to give you this $10 gift card right now so that I don’t have to mail it to you later when s/he calls me. Sounds fair?”

Card ActivationCall to activate the gift card and encourage the client to use the gift card on anything that they would like.



Ask Permission To Follow Up About The ReferralAs you’re giving the client the gift card, say:“I’ll follow up with you in a few days to remind you to have [Potential Referral] call me if I don’t hear back from him/her. Is that ok?”

I’ve never had a client say no. You’re giving them money!

Follow Up 2 Days Later: 2 Days Later: Phone Call & Voicemail & Text Message “I wanted to follow up with you to see if that gift card that I gave you worked. Sometimes they don’t work so I wanted to make sure that yours did. It worked? Great!

I also wanted to follow up with you because I haven’t heard from [Potential Referral] yet, I don’t believe that s/he has called me yet. Have you had a chance to talk to him/her and share my number? I want to make sure you had saved my number correctly.”

7 Days Later: Text Message Hi [Client]! Hope all is well! Just wanted to check in and see if you had a chance to share my number with [Potential Referral]. You can have him/her call me at [Your Number]. Thanks so much! -[Your Name] with [Your Agency]

Current ClientsUse the following script every time you have a positive interaction with one of your current cli-ents over the phone.

Show Appreciation“I want to thank you for being our client for [X Years Now…] I sincerely appreciate it!

Is there anything that you think we can do to help improve our service? Great! I’m glad you enjoy working with us.”

State Your Goal“One of our main goals this year is to grow our book of business by getting referrals from our cur-rent clients and work with more people just like you.”

Ask For Referral“Who do you know from your friends, family, or coworkers that I could help by saving them money on their car insurance?”

NOTE: When appropriate, front the $10 gift card and execute the follow-up process outlined above.



Handling Referral Objections

Objection 1: I can’t think of anyone right now…

Respond With: That’s ok, I’m sure you didn’t expect me to ask that (answer with a smile :)

Explain $10 Gift Card: Just so you know, for every person that you refer my way to get a quote on their insurance, we’ll send you a $10 Amazon or Starbucks gift card. Even if they don’t switch their insurance to us, we will still give you the $10 gift card as a way to say thank you for the referral.

Ask Again: Does anyone at work come to mind that you could refer my way Eveto get a quote?

If They Can’t Think of Anyone: “That’s ok. Next time a friend or someone at work complains about insurance being expen-sive, tell them to give me a call. We’ve helped a lot of people save a lot money on their insur-ance”

Objection 2: Everyone that I know already has insurance…

Respond With: That’s great! Those are exactly the type of people that we want to work with! I want to work with people that already have insurance with another company. That makes things a lot easier for me!

Explain $10 Gift Card: Just so you know, for every person that you refer my way to get a quote on their insurance, we’ll send you a $10 Amazon or Starbucks gift card. Even if they don’t switch their insurance to us, we will still give you the $10 gift card as a way to say thank you for the referral.

Ask Again: Does anyone at work come to mind that you could refer my way to get a quote?

If They Can’t Think of Anyone: “That’s ok. Next time a friend or someone at work complains about insurance being expen-sive, tell them to give me a call. We’ve helped a lot of people save a lot money on their insur-ance”

Objection 3: All of my friends already have [ABC Insurance]…

Respond With: That’s great! You can still have them call me and I’ll see if I can apply any addi-tional discounts that they might be missing.

Explain $10 Gift Card: Just so you know, for every person that you refer my way to get a quote on their insurance, we’ll send you a $10 Amazon or Starbucks gift card. Even if they don’t switch their insurance to us, we will still give you the $10 gift card as a way to say thank you for the referral. If anyone comes to mind, please let me know!

NOTE: I am not recommending that you poach clients from other agents who represent the same compa-ny. More often than not, people

just don’t know who their friends really work with, or they might be

confusing the companies… (It’s very common that people confuse Allstate, State Farm and Farmers)




Strategy 2 In Person Appointments: Agency Report CardThe client needs to understand the importance of this Agency Report Card. Explain that this is something that you turn in to your agent every time a new client joins your agency, and that you get graded based on this Agency Report Card.

Go over the entire document from top to bot-tom, read every question, and assure the client that you will not harass their referrals, but you will reach out to them by phone to ask if they’re interested in getting a quote. If they’re not inter-ested, then you will not pressure them to getting a quote.

Ask the client to take some time and fill out the Agency Report Card while you step out of the room to grab some paperwork, bring them agen-cy swag, etc.

Leave two gift cards on the table, a $5 and $25 gift card. Tell the client that they can take the gift cards based on how many referrals they provide.

After a few minutes come back, and review it with the client by discussing the questions first, and only then transition to the referral portion. If they feel like all you care about are the referrals, then you’ll send them wrong message.

Thank them for filling out the Agency Report Card, and tell them that for every client that they refer your way that calls to get a quote, you will give them a $10 gift card - even if they switch their insur-ance to your agency.



[Your Agency] Insurance Agency Report Card Client’s Name _________________________ Date _________________________

How would your rate your overall experience with our agency?

1 2 3 4 5 6 7 8 9 10

What do you think your account executive did really well throughout this process?

What do you think we could have done to provide you with a better experience?

Besides having competitive insurance rates, what is the most important thing that you expect from us as your insurance carrier?

How likely are you to recommend our agency to your friends and family?

1 2 3 4 5 6 7 8 9 10

We grow our small business by getting referrals from amazing clients like you! Who can you recommend that could benefit from our services?

Name Phone Number 1. ________________________________ _________________________ 2. ________________________________ _________________________

3. ________________________________ _________________________

4. ________________________________ _________________________

5. ________________________________ _________________________

6. ________________________________ _________________________

7. ________________________________ _________________________

8. ________________________________ _________________________

9. ________________________________ _________________________

10. ________________________________ _________________________

3 Referrals = $5 or 10 Referrals = $25 Thank you! We are looking forward to working with you for many years to come!


Strategy 3 Business Owners & Sales Reps

Strategy 4 Bulletin Board With Business Cards

“What you’re doing sounds awesome! When I come across a client who I think would benefit from your service, would you like me to refer them to you? How do you want me to do that? What type of client’s are you looking for?

Great! I will certainly take a note of that and refer clients your way.

I am looking for all of the referrals that I can get as well! So if you know of anyone that I could help by saving them money on their insurance, it would mean the world to me if you could refer them my way.”

NOTE: When appropriate, front the $10 gift card and execute the follow-up process outlined above.

Ask your clients to pin their business card on your office bulletin board, and tell them that you will refer business their way when the opportunity presents itself. Remind them that you support local small business owners.

The key to making this work effectively, is you actually have to send them referrals! The more referrals you send, the more referrals you’ll get back. Easiest way to do that is by sending email introductions.

NOTE: Small business owners don’t have group life insurance through work… I’m sure you know someone who could help them.



Bonus Tip: Email Signature

Underneath your contact info in your email signature, ask for a referral in big bright colored text:

P.S. If you enjoy working with us, please do not keep us a secret! =)

Please forward my contact information to someone who I could help with their insurance.

Don’t forget that for every client that you refer my way to get a quote, I will send you a $10 Starbucks or Amazon Gift Card!


Strategy 5 Homeowners Emergency ContactStep 1: Setup QuestionIn the early part of the homeowner’s conversation ask the client this question:

“Through the course of a typical year, are you ever away from home for more than one week?”

Yes: “How many days a year are you typically gone from your house?”No: “That’s good, are you ever away for more than 2 days?”

Step 2: Get The Neighbor’s Contact InfoIt doesn’t have to be right after Step 1, but some-time later in the conversation you say:

“You mentioned you’re away from home [X Number] of days a year… is there anyone in the neighborhood that watches over your home while you’re gone?”

“Great! Who is it?

Perfect. We’ll need that person’s contact infor-mation in case there’s ever an emergency while you’re away and we need to reach someone near your home. Can you give me their contact info?”

Step 3: Call The Neighbor“Hello [Susan] this is [Your Name], I’m calling about your neighbor [Bob]…

I work with [ABC Insurance] and we just wrote a homeowner’s insurance policy for him.

[Bob] listed you as a nearby contact. We wanted to make sure you have our phone number and contact information so that when [Bob] and his family is out of town for [X] weeks, and some-thing were to happen to his house, like a tree falls on his home, or if his house catches on fire, or any other catastrophe happens to his home, you would be able to contact us so that we can take care of that situation. Does that make sense?

Great! With your permission, I’d like to mail you a refrigerator magnet which will include our phone number so that you can reach out to us if need-ed… Would that be ok?”

Step 4: Mail The Refrigerator Magnet ImmediatelyAlong with the refrigerator magnet include the fol-lowing two items:

1. A letter that explains what you’re asking of them (i.e. call us if the client is out of town and his house burns down, etc.)

2. A handwritten personalized note thanking the neighbor for keep-ing an eye out for the neighbor’s house. At the end of the note you should write: P.S. If you ever want to have a conversation about insuring your home with us, please give me a call =)




Centers of Influence: Reciprocal ReferralsStrategy 1 Local Insurance Competitors

“Good afternoon [Agent’s Name], this is [Your Name] calling from a [Your Agency] ] office here in [Your City]. How are you doing today?

I was hoping you could help me solve a problem that we’re running into in our office.

We are a high producing office and we write a lot of business and are able to work with just about anyone, but every now and then there comes along someone who… (list types of cli-ents who are usually not eligible), or sometimes we cannot beat their rate…

So I am looking for a good agency that I can re-fer clients to when we are not able to write their business.

Would you be interested in receiving those referrals?

I want to be very transparent with you from the very beginning. I am looking for an agent that I can refer business to on a regular basis, but it’s important that the agent I work with could also refer clients back my way. Would that be some-thing that you’d be interested in doing?

I want to make sure that I’m not sending you

business that you cannot write. What type of cli-ents are you not typically able to work with?

How often do you, or one of your agents find themselves not being able to write a policy and you have to refer it out to someone else? Who do you typically refer those clients to?

When I do have a referral to send your way, how would you like for me to send you these refer-rals? Who do I call and who do I ask for?

I think it would be appropriate for us to meet in person to discuss the details to how this could work. Would you be ok if I stopped by your office so that I could meet with you, introduce myself to your team, and discuss all of these details in person?

When would be a good time to swing by your office?

I don’t want to come empty handed so I’ll bring over some donuts for your team. Would that be ok?

Great! I’ll see you on [Schedule Time]!”

Think: What do other insurance agent’s want?

Local insurance agents want referrals of clients who are interested in getting a quote on their insurance! Send them the prospects who you are not able to help!

Use the following script to set up an appointment with a local high producing insurance agent:




Strategy 2 Loan OfficersThink: What do Loan Officers want?

Loan officers want referrals of clients who are interested in getting a loan when they are buy-ing a house or when they are refinancing! Send them your clients who are looking to buy a home in the near future!

Best Two Methods To Build Referral Relationship With Loan Officers1. Identify the home buyers within your current and new client base that you could refer to Loan Officers2. Generate your own online leads by running Facebook Ads and send them to Loan Officers

NOTES: If you want to get a lot of referrals from Loan Officers, make sure that you establish relationships with high producing loan officers who are willing and able to send you frequent referrals.

Use the following scenarios to identify potential home buyers within your current and new client base: • New client appointments• Annual insurance review appointments • Calling birthday list• Incoming calls

When talking to your clients, don’t just share the LO’s info with your client. Ask your client if you can introduce your Loan Officer to them so that they can discuss their mortgage options at a later time.

Use the following script to identify the potential home buyers:

“Do you have any significant purchases coming up in the next year, like buying a new car, or buying a home?”

If they mention purchasing a home, say: “That’s so exciting! Where do you guys plan on moving to?

If they’re a homeowner ask: “Are you going to sell your house, or rent it out?” (If selling, that could be a potential referral for your Real Estate Agent)

“How soon do you plan on making this move?”




If less than 90 days, say: “That’s great! I happen to work this amazing mortgage lender whose name is Mike; he’s from our area, and he’s one of the best mortgage lenders in town.

One reason a lot of our clients like working with him is that he’s not tied down to just one bank; in-stead, he has access to mortgage programs from a lot of different banks, so he can show you which mortgage program would be best for your specific situation.

I can have him give you a call sometime later so that he can introduce himself to you and so that you have his contact information. Is that ok?”

If the client is not ready for a call, say:“If you’re not ready to speak to him over the phone, that’s ok. I can introduce you to [Mike] through email so that you guys have each others contact info. Does that work?”

Text Message 1

Hi, is this [Mike]?

Yes. Who is this?Text Message 2

Hey [Mike]! This is [Stephanie] from [John Smith’s ABC Insurance Agency] here in [Houston]. I’m looking to establish a referral

relationship with a local loan officer that we could refer to our clients. Are you open to having a conversation about setting up a

referral partnership with our agency?

Yeah sure!Text Message 3

Great! When are you available to speak over the phone?

How To Establish Referral Partnership With Loan OfficersStep One: Setting Up Phone Appointment




Step Two: Questions To Ask A Loan Officer During The Phone AppointmentI’m glad we were able to set up this call to discuss our potential referral partnership!

I’d like to share a little bit how our insurance agency operates, and how we could mutually benefit from this referral partnership. I’d be happy to answer all of the questions that you have for me, but first I wanted to get an idea on how you operate your business so I wanted to ask you a few questions, is that ok?

1. From what I gathered on your website, it appears that you are [their position in the broker-age], is that correct?

2. If we were to work together, you would be the primary point of contact for all of the referrals that we would send your way, is that correct?

3. I understand that for this referral partnership to work in a way that it benefits both us, we cannot expect you to send us referrals if we’re not sending you any business, I completely understand that. However, besides sending you referrals, what’s the most important things that you would expect from us on our end?

4. Are you currently referring clients to any other insurance agency at this time?5. I know it varies month to month… but on average, how many clients do you think you could

refer to us on a monthly basis to get a homeowners insurance quote?

If less than 5 per month, say: Got it. I do want to be transparent with you from the very beginning and let you know what we’re look-ing for in terms of monthly referrals.

We’ll be working our book of business very aggressively to identify the home buyers who need a mort-gage, so to make this partnership work, we are ideally looking to receive at least 10 referrals per month from our loan officer. If you don’t think you can make that work, then that’s totally fine. There are no hard feelings, I would just need to find a few more mortgage lenders that that we’d need to partner with.

If more than 5 per month, proceed by asking: What questions do you have for me?

What makes us different is:

1. First awesome thing about working with you… 2. Second awesome thing about working with you…3. Third awesome thing about working with you…

Possible Examples: • We are only [x blocks] away from your office;

that’ll make things very convenient our clients who prefer to meet in person

• Our homeowners insurance policy covers these two things that most other companies don’t offer

• I will share my phone number with you so that you can alway reach me, even after hours if you need to get a binder completed or if you need me to help you with anything




Strategy 3 Real Estate AgentsThink: What do Realtors want?

Realtors want referrals of clients who are interested in buying or selling a home! Send them your clients who are looking to buy or sell a home in the near future!

To set up a referral relationship with Realtors, follow the same steps outlined in the Loan Officer section.

The following are key things to keep in mind when you’re setting up a referral relationship with a Realtor:

• They don’t care about your $10 gift card… They will send you referrals if you send them referrals

• Use Zillow to find the top producing agents and build a referral relationship with those agents, not the part time agents who sell a handful of homes per year

• Identify what percentage of their clients are buyers vs sellers. It is easier to get referrals from a Realtor who works with more buyers than sellers

• Once you have identified the Realtors that you want to work with, ask them to introduce you to their Loan Officer partners, and set up a referral partnership with them as well




Hi may I please speak with the property manager of [Name of Complex]? Hi [Managers Name], I was curious, do you require your new tenants to get Renters insurance when they move in, or is Renters insurance optional for new tenants?

Ah, got it!

Well.. my name is [John] and I work for [ABC Insurance], it’s a local insurance agency here in [Baton Rouge]. We happen to insure a lot of the tenants that live in the apartments near your apartment complex, and I wanted to call you and see if I could help your new tenants get Renters insurance through us when they move in! What would I have to do to be one of the insurance agencies that you recommend to your new tenants when they need Renters insurance?

Would it be ok if I stopped by sometime later this week to introduce myself?

Great! I will be in your area [this Wednesday], would it be ok if I stopped by around [noon]?

Strategy 4 Apartment Property ManagersThink: What would make the job easier for apartment property managers during the move in process of their new tenants?

Apartment Property Managers want a hassle free move in experience when a new tenant is moving in. Assist the property manager by providing the new tenant with the appropriate Renters insurance, quickly!

Use the following script to set an appointment with the apartment complex managers:




Strategy 5 Local Mom & Pop ShopsThink: What do local mom & pop shops want?

Mom & pop shops are always looking for new clients to grow their business! Help support their business by sponsoring a giveaway for this business!

Set up a fish bowl giveaway contest where you select one lucky winner who will receive a prize which comes in the form of a performed service or recieved a free product from that business.

The following are a few examples of giveaways that you can host where people drop off their busi-ness cards in exchange for a car insurance quote and a chance to win the prize!

A SPA DAY ATNAME OF SPA

ENTER FOR A CHANCE TO WIN

TO ENTER IN THE GIVEAWAY1. DROP BUSINESS CARD INTO FISHBOWL (if you do not have a business card, please fill out submission card)

2. GET AN INSURANCE QUOTE FROM [Insurance Agent Name]

WINNER WILL BE CONTACTED NEXT WEEK AND ANNOUNCED ON SOCIAL MEDIA!

THANK YOU FOR PLAYING!


A FREE DINNER FOR 2

AT

[RESTAURANT NAME]

TO ENTER IN THE GIVEAWAY

1. DROP BUSINESS CARD INTO FISHBOWL (if you do not have a business card, please fill out submission card

2. GET AN INSURANCE QUOTE FROM [INSURANCE AGENT'S NAME]

WINNER WILL BE CONTACTED NEXT WEEK AND ANNOUNCED

ON SOCIAL MEDIA!



A $50 GIFT CARDFOR

[CAFE NAME HERE]

TO ENTER IN THE GIVEAWAY1. DROP BUSINESS CARD INTO FISHBOWL (if you do not have a business card, please fill out submission card)

2. GET AN INSURANCE QUOTE FROM [INSURANCE AGENT NAME]

WINNER WILL BE CONTACTED NEXT WEEK AND ANNOUNCED ON SOCIAL MEDIA!




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The Ultimate Insurance Referral Program Part Two...Copyrigh nsuranc A igh eserv...

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