Get More Referrals from This Neglected Source

As an insurance agent, you know your business would fail without relationships.

But how well do you leverage them? Too often networking takes a back seat to cold calling and free pen giveaways. It’s much more efficient to tap into your network, especially the professionals with an existing book of clients.

Insurance Agents Need Referrals

To grow your agency, it’s essential to constantly prospect new clients. Leverage your existing relationship-building skills to gain leads through referrals by building the professional partnerships that can make it happen.

These referral-generating partnerships are so valuable for many reasons:

  • Low acquisition cost – The only real cost is time spent finding valuable partners and building mutually beneficial relationships.
  • Enormous pool of candidates – Successful professionals already have their own clients who may end up as yours if you connect.
  • Pre-qualified prospects – Your partner’s pre-existing relationship speaks to the client’s credibility, which makes them easier to serve.
  • Win-win for everyone – You and your partner will add to your books of business, and clients will connect with reliable professionals.

Build Partnerships with Other Professionals

A professional partnership, like any relationship, needs tending. Here are some tips on cultivating them:

  • Identify potential partners – Be sure to research professionals in the industry or market you’re targeting.
  • Offer them value – What assistance can you provide in addition to your book? Whether it’s featuring them in a blog post or newsletter or tweeting links to their content, things you already do can be of great value to potential partners.
  • Practice your pitch – Like you have with your insurance sales pitch, take the time to outline your goals and practice articulating them before you begin networking.
  • Go where they are – Attend trade shows, chamber of commerce meetings, or anywhere else you might get face time with your target professionals.
  • Make a consistent effort – That first contact is necessary, but it’s essential that you follow up and thank your new partner every time they send you a referral.
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