Happy Holidays friends! At this point the presents should be wrapped and the shopping done but I’m sure there are a few last minute soldiers out there! Based on past experience, I can tell you that when it comes to getting your holiday shopping done it is unlikely you will get inspiration the night before! Take it from a procrastinator like me and put that Amazon Prime account to work!
Since we are on the topic of gift giving, I want to use this blog to talk about having a strong referral program in place at your agency. In my experience, referrals are one of the best types of leads with which to work. You are provided with a rapport-building opening in that you were introduced through a mutual contact. Typically, these types of referrals close more frequently and with greater ease.
However, knowing what we know about referral business, it surprises me that when speaking with producers they will either tell me there is no formal referral incentive for the person providing the referral or they are unsure of the details of their referral program. What’s even crazier is that sometimes (rarely, but it does occur) we find out an agency has a referral program in place but there is no formal process for getting clients their referral reward!
I was at an agency earlier today, training some of their new personal line producers, and we got onto the topic of centers of influence. We discussed how they are great for providing referral business our way and how we must cultivate and nurture these relationships because if we don’t, someone else will. One of the most effective ways we pay it forward, and show our centers of influence that we care and appreciate their referral business, is through our own agency referral program.
We can all agree that we live in a “give a little to give a lot” society. Most of our centers of influence are happy to refer business our way because they know we will treat their client with the utmost care. While it’s a natural win-win, we also have to recognize how much easier they are making our jobs for us.
If one of our friends helps us move it’s our natural inclination to reward them with beer, pizza, or a gift card because they effectively made our life easier. That’s how we need to treat our centers of influence. For every lead they provide we need to reward them and, more importantly, it’s up to us to make sure the reward is delivered. Don’t leave it to the Office Manager or another CSR. Personally, and promptly, take the time to send them a handwritten note with a gift card or a six pack of their favorite beer.
Lastly, always consider them at the end of the year as well. We want to further foster these relationships because for every mortgage broker, real estate agent, and car dealership there are 15-20 agents who would love that referral business. An edible arrangement, a nice bottle of wine, or some fancy pastries from the local bake shop will go a long way!
For help generating centers of influence and developing solid referral programs there is Agency Performance Partners! Give us a call today or check out our website for our special end of the year promotion by clicking the link below!
