Final expense insurance agents are losing business all over the country by doing these 3 things to try and secure referrals.
Finding new clients is absolutely the hardest part of my job—and it takes up a good chunk of my time every week. The idea that there’s a “quick fix” for this problem, that I could somehow incentivize my current clients to refer me to people they know, sounds too good to be true.
That’s because it is.
3 Ways You’re NOT Getting Referred
Asking the Wrong Question
“Do you know anyone else who might be interested in final expense planning?” Initially, this will put your client on the defense. They don’t want to be the person responsible for sending a salesman, for any reason, to a friend or family member. Reframe this question! We can all think of a friend or family member that would come to us for financial contribution in times of need, especially for funeral planning — these are the referrals you need!
Dangling the Carrot
“Refer me to a friend and I’ll send you a $50 gift card!” This sounds like a fun promotion that could drum up some new business and get your name circulating in new circles! It’s not. It feels like spam. By attempting to incentivize your clients with a “gift,” you’re cheapening your professionalism to the level of junk mail and spam texts. Your clients get this kind of offer from every company that has their email address and phone number. Doing this can make you seem like a spam robot, not a trustworthy friend and professional support.
Talking to a Wall
Fishing for referrals on social media can also keep you from getting referrals. Throwing a post-up on your digital “wall” is the most impersonal way to ask for a very personal favor. By doing this, your clients, friends, neighbors, coworkers, whoever sees your social media feels like you’re begging. It feels desperate. Final expense insurance is a personal, almost intimate world where your clients want to feel like they know you, not like they’re part of a social media campaign.
The Bottom Line
It comes down to this: Final expense insurance customers are smarter than some agents give them credit for. By blatantly asking for referrals, you are asking your clients to do your job for you. They know this. They don’t like it. It is off-putting and it puts pressure on the relationship you have been working so hard to build with a client who would like to trust you. Final expense insurance agents get referrals by performing a service for their clients and making them happy. You get referrals by staying in touch and keeping your name in your clients’ minds. You get referrals by doing what you say you’re going to do, when you say you’re going to do it. The bottom line is that you get referrals by doing your job and doing it well. So, if you’ve been making these mistakes and not getting referred, change up your tactics and refocus on what’s most important: your client’s needs and satisfaction!