The 5 Best Ways To Get Referrals

A solid marketing plan, and using a reputable lead-generating company like Benepath, are great ways to get new customers. But you shouldn’t underestimate the power of referrals. Around 85% of small business owners say word-of-mouth referrals are the number one way prospective customers find out about their business. While referrals can be a big boost to your bottom line, it can feel awkward to ask your customers for them. With a little creativity, though, and our top 5 tips, you can get referrals that will help grow your business. 

1. Be Prepared To Ask

If you want referrals, then you need to be confident and make asking a natural part of your interactions with customers. Waiting around to ask for referrals could mean missing out on a lot of new business. Try making referrals a lighthearted part of your initial conversation. Your approach can be something as simple as, “If I do a great job and get you a great deal, then you will tell others about it. Deal?”

clock on the time 7 o"clock

2. Know The Right Time To Ask

While you don’t want to miss out on a referral by waiting around, you also need to read your customers and know when to ask. It’s a case-by-case kind of situation – you know your clients best and can figure it out by focusing on their personality. For example, jumping in and asking the moment that your transaction is complete could turn some customers off. With these customers, you might need to establish a relationship first, or they might need time to process your transaction and make sure they are fully satisfied. For other customers, some well-placed compliments might help. Some customers are most excited and pleased with you right after they make their purchase, so they might be more receptive to a quicker request for a referral.

However you decide to ask, make sure that you check in with your customer before you do to make sure they are happy with your service and the plan you delivered. Offer exceptional customer service, and you will find that happy customers are happy to help you.

3. Make It Easy For Them To Refer You

caucasian man in a suit with a card in one hand and the other holding his suit jacket
You can include referral information on your business card.

You can’t get referrals if your customers don’t know that you’re looking for them, or if they don’t know how to refer you! If you want to make it clear where and how they can refer you, then you can:

  • Add a line in your email signature noting your interest in referrals.
  • Include referral information on your business card.
  • Mention referrals in the follow-up emails you send them. 
  • Thank your clients and ask if they have friends that need your help.
  • Incentivize referral requests with a referral program.
  • Ask for testimonials on your site. 85% of consumers trust online reviews and recommendations.

4. Ask For Feedback

Get a feel for what is working and what is not in your business so that you can understand what it will take to get more referrals. Ask your current customers what they like and don’t like about your service. Listen to their feedback, and show them that you care about them and their needs. You want to blow your customers away and exceed their expectations so that they will go out of their way to recommend you to others. Think about how you feel when you eat at a restaurant and end up loving the food. The next thing you want to do is recommend the place to your friends so they can enjoy it too. 

5. Networking

network of people connected

The saying “you get what you give” applies in the insurance business, too. You can help grow your network by referring your customers’ businesses to others. This simple action will make them more inclined to do the same for your business. If you work with a real estate agent who helps you buy a house or an event planner who helps plan a party for you, then share their information with others. Establish a mutually beneficial relationship with these companies and you can both grow.

The Secretariat of Insurance Leads

There are 2 reasons why they post odds at the Racetrack:

  1. To assess the likelihood of each horse winning the race
  2. To determine what your potential winnings could be

Amateur bettors might get lucky by picking a longshot because of its creative name (ex. MyROIguy) or the jockey’s pretty colors or maybe the horse “winked” at them in the paddock. And every now and then, those amateurs get lucky and win the race for those very reasons.

For those who would like to make a more educated wager, there are racing programs. This is where you can read more about a horse’s past racing history,  the trainers or jockey standings.

Watch Secretariat’s Historic Belmont Stakes Race Here.
But enough about horse racing, how exactly does this relate to selling insurance?

If you’re an agent, you would like to know the likelihood that you will be able to close your leads.

Amateur agents might get lucky with a cheap, shared lead every now and then, but is hoping to hit on a longshot the right approach for sustained success.

More experienced agents don’t buy leads because they’re cheap, they’re more focused on their ROI .

If there was a Racing Program for Buying Leads, it might look something like this:

Benepath LeadsCompetition
# of Times SoldOnly 1 Agent4 to 10 Times
Lead GenerationGoogle, BingAffiliates
Incentivized TrafficNoYes
Agent BrandingYesNo
Show Clients QuotesYesNo
Benepath Exclusive Leads4 to 1
Affiliates10 to 1
Shared Leads25 to 1
Incentivized100 to 1

Go with the smart money— Exclusive, search generated leads give you the best odds for long term success.

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