5 Tips For Insurance Referral Prospecting

Selling is a very important function to any business. A company may have beautiful projections, attractive brochures and marketing materials and a message that resonates well with the public. Its mission and values may be succinctly spelled and understood by its target market but until a sales person actually delivers on the company's promise, there is no business relationship. Without sales, companies do not have a guarantee for the future. This is especially true for insurance companies, which sell intangibles.

Insurance agents must always prospect for new business in order to keep the sales cycle active. Prospecting is the hardest bit of selling because it involves getting out of one's comfort zone and facing the possibility of rejection. We all hate rejection. If there was a simple and sure way of growing your business with minimal pain would you be willing to try it? The truth is, there is no painless way.

The following are 5 simple tips that will help insurance marketers and agents grow their business by getting referrals.

1. Ask for Referrals: This is a very obvious step but rarely used by most sales people. When was the last time you asked for a referral from your existing clients? Think about it, you can get a lot of business by asking your existing customers to refer you to somebody they know. As simple as it sounds, most agents are actually guilty of not asking for referrals. Try it, it doesn't hurt to ask.

2. Nesting in Your Target Market: Trust is an essential ingredient in selling. You want to gain a reputation of trust before your client start giving you referrals. Establish yourself in you area of interest as an adviser without necessarily pitching yourself. People do not want to be sold to. People want to buy. Referrals will grow from your "nest" gradually as your credibility and reputation grows by the day.

3. Excellent Service: You can service your accounts without necessarily bending over backwards to please your clients. This will create loyalty and who doesn't want that? Want to get unlimited referrals, serve your customers well. Listen to them and endeavor to resolve their issues with speed. Word of mouth will work for you.

4. Work closely with your competition: Insurance agents forget that their competitors understand clearly what they offer. It is very clear that no matter how good your pitch is, some customers will always be loyal to their current providers. Try to collaborate with other insurance agents and marketers in the industry.

5. Network, Network and Network: The Importance of networking for a sales agent/ marketer cannot be underscored. By positioning yourself well and networking with people in other industries, you are bound to get endless referrals.

Having mentioned all this, get up and start asking for referrals. I wish you all the best.

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