This week we are continuing the popular Marketing 101 series. Even the most basic tasks in an agency need to be reviewed from time to time. When you have a proven process, these tasks are gold!
You love getting referrals, right? Referrals are the most profitable form of new customer acquisition there is. They stay longer - buy more - and refer others building much value in your agency.
Your customers love giving referrals too … if you know the best way to get them. I learned this process in 2004 when referrals only made up 2% of my new business. Within a year of implementing a referral culture in the agency, my referrals jumped to 18%. By improving upon the referral process every year, referrals now make up over the majority of all new business at the All American Agency.
So why aren’t you generating more referrals? You & your team are letting golden opportunities slip through your fingertips.
I’m not just picking on you. Me & my team were guilty of it too.
You know that you should ask for referrals, you just don’t know when. This lack of knowledge is holding you back.
The 2 very best times to ask for a referral is #1 at the end of a successful business sale and #2 when an existing customer expresses appreciation. Let’s talk more about this latter one ---- someone thanks you for helping them with a service you provide. Opportunities emerge from making changes to a policy, answering a question, writing a new policy, etc.
The customer who will give you a referral is a different level of customer. You must train yourself and your team to recognize this customer and take advantage of every opportunity to ask for a referral when you hear the “Magic Words”.
The “Magic Words” are “Thank You”.
This is your cue to move into a new level of service, plus provide rewards, and satisfy your customer. This is a win-win situation!
Try this phrase that’s been helping us get more referrals in our agency: “Let’s brainstorm for a few minutes together on 1-2 people that you care about that could benefit from the same experience you get from our agency.”
The other best time … at the end of a successful business sale, you can simply adjust the script a little as needed for use in different situations. For more scripts, see the below P.S.
I hope you implement a referral culture right away in your agency and see the same level of success I did in mine.