Spring Your Business Forward with Referrals

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Mary Sizemore
Mary Sizemore March 9, 2023

With over 25 years of experience, Mary shares her industry knowledge by helping agents and their clients navigate various insurance products. She also stays up to date on current products and trends to support, mentor, and guide her teammates.

Disclaimer: With Medicaid, VA, and insurance regulations frequently changing, past blog posts may not be presently accurate or relevant. Please contact our office for information on current planning strategies, tips, and how-to's.

Spring is coming, which brings new growth and presents an excellent opportunity to reevaluate your referral process. Like many of our agents and advisors, you are probably looking for tips to grow your business and win new referrals. Word-of-mouth marketing from your own client base is a tried-and-true way to find new clients. In fact, 84% of consumers say they trust recommendations made by family, colleagues, and friends. The downside is some agents and advisors are reluctant to ask their clients for referrals. But if you don’t ask, you won’t receive. Now is the time to plant those seeds with your clients that will provide fruitful referrals throughout the year. Here are a few tips to make the process easier.

Know When to Ask for a Referral

The best time to ask for a referral is immediately after a sale. This is when your client feels good about their purchase and the service you provided to them. They view you as a trustworthy resource that provided a valuable solution to their concern.

Another good time to ask for a referral is when you complete a yearly review. By spending time evaluating their plan choices, you are reinforcing your ability to support them into the future.

Here’s an example of a referral request:

Jim and Jane, thank you for purchasing this policy from my agency. I am grateful for your business. My team is available to review any questions you might have in the future. I know [long-term care/healthcare/other product-related concern] is a dilemma many of us are concerned about. If this topic comes up in conversation with any of your family or friends, feel free to share with them how I was able to help you. I promise to provide your loved one with the same level of service that I have shown you. The greatest compliment you can give me is by sending your friends and family my way!

Read More: How to Get Leads for Your Business

Be Easy to Find and Contact

Business cards have evolved over the years. While the paper business card still has its place, using a digital business card offers another outlet for keeping in touch with your clients. You can send your contact information through a QR code, text, email, or even in the virtual background of a Zoom meeting. Additionally, your clients can easily forward your digital business card to their loved ones.

Make sure your website is up to date and your contact information is prominently displayed. Also, consider a landing page or welcome center for referrals. This page should include your bio, states of practice, areas of expertise, and contact information.

Be a resource on social media and encourage your clients to follow you and share your information. Your client may see an article, blog, or post they want to share with a friend or family member.

Read More: Digital Marketing Basics for Agents and Advisors

Network with Other Professionals

By networking with other professionals, you can trade referrals. CPAs, elder law attorneys, concierge doctors, and bankers are a few of the professions that also appreciate referrals. In developing a network of advisors in these areas, you can refer your clients to them, while they refer their clients to you. This may also lead to joint meetings discussing long-term care, health and aging, social security, taxes, and more.

In the end, referrals can increase your bottom line. But you must be confident in the service you provide and ask your clients to pass along your information to their loved ones. Start planting those seeds today! For more tips on asking for referrals, please reach out to one of our relationship managers today!