Are referrals in your 2016 business plan? Well they should be! Referrals are an excellent source of new business. Closing them is easy and getting them is even easier if you commit to asking. Across the board we find that many agents are very uncomfortable in asking for referrals yet everyone wants to generate more of them. Seems like an oxymoron, right?
So how do we get a top to bottom referral program that crushes? Well you start providing an incentive to your clients and referrals sources to refer. Some popular programs include:
- Enter to win for cash
- Enter to win for a TV or other technology item
- Charitable donation for every referral
- Gift card for every referral
- Or a mixture of all of the above!
When you create your referral program get your team’s input. I just helped design one for an agency in PA and we had a blast. We agreed to do a quarterly drawing of either landscaping, car detailing, snow plowing or house cleaning. These tend to be luxury items that most average households would love but their funds tend to get eaten up elsewhere. Also, for every referral you get a logo-ed Visa gift card. The great part about this referral program is it helps support local small businesses in the process.
Next you have to launch it with your team and role play scripting on how to ask. Imagine if everyone asked one person each day. It would be huge! Most people struggle with how to ask. Your sales team can call all new business sold this year and educate them on the referral program. All it takes is some simple education of your client base to make big moves.
You also have to market the program, send out flyers, post cards, update your website. Tell people! Then you have to set a goal for the number of referrals generated each month. When people unite together to hit a goal, you get a better result. Reward them for hitting the goal; it’s a win, win, win. Win for the agency, win for the team and win for the client.
Send us your favorite referral programs or call us if you want some help!
