March 27, 2023
As an insurance agent knows, many marketing tactics can be time-consuming and costly. Referrals can be an incredible way to focus your limited time, as they're some of the most effective strategies. In fact, according to a study by the Wharton School of Business, referred customers are 18% more likely to stay with a company and have a 16% higher lifetime value than customers acquired through other means. Here are some of the best tactics to market your agency.
In a world where most communication is done digitally, receiving a physical card in the mail can be a refreshing surprise. It shows that you took the time and effort to send a personalized message to your customer, and it can make them feel appreciated and valued. Sending paper cards can also set you apart from competitors, who may rely solely on digital communication with customers.
To earn customer referrals through paper cards, make a list of who you think is most satisfied. These are the clients who have provided positive feedback or have had positive experiences with your agency. Then, send them a personalized card thanking them for their business and expressing your appreciation for their loyalty. You can also include a request for a referral, asking them to share their positive experience with friends and family who may need insurance services.
Add a personal touch to the card to ensure they know you are thinking specifically of them. You can even include a small gift, like a gift card or a branded item, to show appreciation. This simple gesture can go a long way in building customer relationships and earning their trust and loyalty.
Sometimes, the easiest way to earn a referral is to ask for one. Just asking can be uncomfortable, but it doesn't have to be. It can be a natural part of the conversation with your customers when done right.
The first step is to find the right time. This could be after you've provided a particularly valuable service or when your customer expresses satisfaction with your work. Then, make your request clearly and concisely. You can say, "I'm glad you're happy with our services. Do you know anyone else who could benefit from our insurance solutions?"
Make sure to follow up with your customer after the referral to thank them and let them know how it went. This shows that you value their time and effort and can encourage them to refer more people in the future.
Giving your clients an easy and convenient way to refer you can increase the chances of receiving referrals. One way to do this is to create a program that rewards clients who refer new businesses to your agency. You can offer incentives such as discounts on future services or gift cards as a token of appreciation.
To create a referral program, identify the criteria for a qualified referral. This could include factors such as the type of business, the size of the company, or the geographic location. Then, create a simple form that clients can fill out and submit to refer someone they know. Make sure to provide clear instructions and a deadline to ensure a sense of urgency and to increase the chances of receiving referrals.
You can also create links or buttons on your website and social media pages to make it easy for clients to share your agency with their network. These links can be shared through email, social media, or messaging apps and direct potential clients to your agency's website or contact page.
By giving your clients a way to refer you, you make it easy for them to share their positive experiences with others and increase the chances of receiving new business through referrals.
Be sure to bookmark: www.normandyins.com/blog and check back weekly to catch future posts about how to attract new customers. Normandy Insurance has evolved since 2006, becoming a top choice for agents in 22 states. Originally focused on workers' compensation, Normandy now underwrites general liability, commercial property, cyber, and yacht insurance. Preferred by independent agents for offering innovative and cost-effective coverage solutions with an emphasis on customer service.