How to Grow Customer Referrals
Increase Sales by Increasing Customer Referrals
Customer referrals are still one of the best ways to grow your client-base and sales, but how do you grow your customer referral program? One successful strategy is to reward them.
One of the most successful marketing initiatives your insurance company can adopt is a system that rewards customers who introduce new leads to your agents.
Customer referral programs provide an incentive for your existing customers to become advocates of your company, at a time where industry competition is high. This is especially important for agents that can’t rely on providing the cheapest quotes.
How to Create an Insurance Customer Referral Program
Here are tips for generating more insurance leads for your business through a customer referral program.
Start with a Landing Page
The best way to launch a successful referral program is to create a unique landing page. The page will include a form that will collect data about both the referrer and the referral.
Your web form should feature contact information include first name, last name and email address. Asking for a phone number may decrease the amount of submissions, but it also makes it much easier to get into contact with prospects.
Build Email Responders
Next, create two follow-up emails: one for the referrer and one for the referral. Send the first email to the existing client who completed the form. You want to thank your customer for sharing your business with their friends.
The email should include personalization. Don’t send a generic email. Use personalization tokens to identify the customer in the email. Provide an incentive as a way to thank them for the referral. Even a $5 Starbucks gift card goes a long way. Include a call to action that links back to your website, and links to your social media accounts as well in case they want to spread the word that way.
The second email is sent to the referral. The goal of this email is to inform the referral that they’ve been identified as someone who is interested in receiving an insurance quote.
Be sure to include:
- Personalization tokens
- A list the benefits of your company versus your competitors
- An incentive for them to make the switch
- Call to action that leads back to your website
- Social sharing buttons at the bottom
- Your contact information
Create a Workflow
Make sure to establish a workflow for inbound referrals. An agent(s) should monitor incoming leads and respond quickly. Inbound leads go cold quickly, so set up alerts for your sales team if possible.
Grow your inbound insurance leads and sales with a strong referral program. Need more leads? Contact Parasol Leads for exclusive insurance leads today.