I see so many posts about generating leads. I personally believe there is a better alternative – an agency makes the decision to 100% get their new business from referrals. Every agency gets referrals, but I’m talking about positioning yourself to go further. It’s easier than you think.
* 500 current customers
* 250 are raving fans
* 150 are willing to give referrals
* Average 3 solid introductions per
* Write 50% = 225 new accounts (45% increase)
You have prequalified your prospects since you know the person referring and can assume the referral has similar qualities. There is a much greater chance of writing the full account and lower the number of monoline accounts.
The probability is the account will stay with you longer and will also give you referrals. You have zero marketing costs.
The first step is at point of sale. Use a standard script to thank the person for their business and let them know that you will touch base in 6 months to see how they have benefited from doing business with your agency. In six months, your entire new business goals can be met with referrals. At the same time, you also begin working your existing book of business for referrals and testimonials.