Are you looking to grow your insurance agency or brokerage?
One of the easiest and most cost-effective ways to do that is by strengthening your insurance referral marketing program.
If you’re not quite sure what referral marketing is, here’s a brief refresher: Essentially, you offer your clients the ability to refer business your way in exchange for some kind of reward—such as a commission, a discount on their services, or a gift card. Review federal and state regulations for incentives before you start any referral program promotions.
These authentic word-of-mouth recommendations don’t take up any of your time, and they’re quite effective. Data shows that referral marketing is much more persuasive than traditional outreach. Customers are four times more likely to make a purchase when someone they know referred them. What’s more, referred customers have a 16 percent higher lifetime value.
With the right approach to referral marketing, you can sell insurance right from your home—and do very well.