Tips for Creating a Referral Rewards Program for Your Insurance Agency
Posted by: Agent Hub
As an insurance agent, referrals are an integral element of garnering new leads and clients. But in order to boost the amount of referrals sent to you or your agency, it’s important to foster a positive client-agent relationship where your clients want to recommend you to friends and family. Aside from offering quality services with superior customer service, one way to do this is through a referral rewards program. Not only do referral rewards programs show your customers that you care, but it ultimately encourages them to recommend you and your agency to others.
If you don’t already have a referral rewards program implemented, here are tips to help you get started.
Choose Your Rewards
First things first — you need to decide what you are going to reward clients who send referrals your way. Keep in mind that referral rewards programs can be as simple or complex as you’d like. Something as simple as a $5 gift card for a cup of coffee can go a long way. If you’re not sure what you’d like to gift your clients, try thinking about things your clients would genuinely enjoy.
Here are some ideas to jumpstart your creativity:
- Coffee gift cards
- Coffee mugs or coffee beans
- Restaurant gift cards
- iTunes gift cards
- Edible arrangements
- Movie tickets
- Larger value gift cards
- Spa gift certificates
Once you have your rewards in mind, make an outline of the referral rewards process. This is entirely up to you, but be sure to include things like when the referrals run through (for example, if the referrals are tallied on the last day of every month), and when the winner will be announced. You can also consider other fun ways to get clients motivated. For example, consider putting each month’s winner into a drawing for an annual grand prize. Annual grand prizes can include things like large value gift cards, electronics and the like. Get creative.
Get the Word Out
Once you have your referral rewards program outlined, it’s time to get the word out. We recommend creating a flier that you can place on team member’s desk so they can share the program with their clients. Setting up a referral table at the front of the office, putting a copy in welcome packets, and detailing the program on your social media channels will all help inform your team and current clients about the program.
Promote Your Program
One of the most important factors of creating a successful referral rewards program is promotion. Don’t let your hard work fall flat by forgetting to promote your program to its fullest potential. Take advantage of social media, networking events and the like to maximize every bit of marketing potential there is. While there are lots of ways you can promote, try starting out by posting about your referral rewards program once per week. This can be anything from a link to a landing page or blog detailing the program, pictures of the rewards, videos of a winner receiving their award — the possibilities are endless, and ultimately will work in your favor to attract even more clients.