5 Tips to Build Your Network of Prospects and Referrals

Even though the insurance industry is more digital than ever, customers are still finding their insurance agents the old-fashioned way – through a referral from a trusted friend. According to Carl Maerz of Rocket Referrals, “When it comes to insurance, 87% of buyers turn to friends or colleagues first for referrals – while only about 1 out of every 10 shoppers starts with independent research.” Here are some tips to grow your network of prospects and increase your word-of-mouth referrals:

Network everywhere

  • Whether it’s at the grocery store or at a soccer game, the prospects are out there. It’s important to establish yourself as an active part of the community. You never know where a connection might lead, so always have a business card handy.
  • Tip: Follow up
    When you meet new people, exchange information and follow up with them to show that you value their connection. Adding these contacts into an agency management system is an easy way to keep in contact.

Cultivate positive relationships with other local businesses

  • Attend local seminars, conferences, and networking events in order to become familiar with local businesses. Be sure to keep in touch with the connections you make long after the event is over. The number of referrals you get will grow as you continue to develop your business relationships within the community.
  • Tip: Be different
    Networking events are great for meeting a lot of people, but it can be difficult for people to remember you after they leave. Stand out from the crowd by being personable, engaging, and fun.

Follow your passion

  • Volunteering is a great opportunity to grow your business and help your community at the same time. By donating your time, you are able to meet other local community leaders, business owners, and prospects. There is even a chance of getting some PR in the local news.
  • Tip: Follow your passion
    Choose a cause about which you are passionate. It will provide more personal satisfaction, which will increase the likelihood that you will stick with it.

Establish credibility

  • You have been doing this a long time and have learned a thing or two. Your knowledge has value – especially to your clients and prospects. Creating a newsletter or blog is a perfect way for you to become known as an industry expert in your community.
  • Tip: Share your content
    Your newsletter or blog is a great marketing tool. Make sure that your content is shared on social media and your company website in order to be easily found by prospects.

Grow your business with more personal marketing

  • You can combine your offline and digital marketing techniques with a modern AMS. You can be a part of important events in your clients’ lives by sending a personal letter or email when it matters most. QQCatalyst keeps track of all dates and information needed for personalized marketing campaigns. It even has many templates available to create hassle-free letters for birthdays, anniversaries, and more.
  • Tip: Show you care
    Remember that most prospects rely on personal referrals to find an insurance agent, so be sure to delight your current clients so that they are willing to refer you to their family and friends.

Find out more about how QQCatalyst can help you network more effectively by scheduling a demo below!