How to Create Referral Partners and Centers of Influence

Developing referral partners and centers of influence is critical to the long-term success of a life insurance agent. Social connections on Facebook, LinkedIn, Twitter, Instagram, Marco Polo, etc. are good places to start identifying people who can be the foundation of your network. Social media platforms are here to stay, so it makes sense to embrace them in order to build your business and you will most likely deepen your relationships at the same time. As expected, it does not happen overnight, but with intentionality and discipline within one year you can build an amazing network of people sending you organic prospects. Pacific Insurance Group based out of Bellevue Washington continuously develops insurance agents to establish their networks by teaching them how to prospect most effectively in present times. Understanding how to leverage connections will take your business to the next level.

How to create referral partners and centers of influence

 Start with the people you already know such as family and friends. These people should want to naturally help promote your services. Does everyone you are connected with actually know what kind of products you sell and how they work? The answer needs to be “YES”. Your primary circle will usually be excited to endorse you because they genuinely want to see you succeed in life. If they do not… time to make some new friends. Your influence and reputation will grow as you continue to seed, water, and cultivate your network, which will turn into you helping more people get the correct amount of life insurance and you will make a good living at the same time.

 Deliver the greatest customer service experience in the world! The entire process from how you communicate, to explaining the benefits, efficiently completing the application and underwriting process, and finally implementing the best life insurance policy possible. Then ask for them to leave a positive review somewhere online so your influence and network of people endorsing you grows. How have you leveraged previous client experiences with purchasing life insurance from you? If the answer is “you haven’t”, it’s time to change.

 Care about the people in your network. People are not attracted to other people who are using them. Self-reflect on the type of people and situations where you can most naturally be you. Then do a lot of listening and caring in these settings. Trust me, this is extremely effective. If you don’t believe me, read How to Win Friends & Influence People by Dale Carnegie and implement the principles in the book. If you cannot apply the principles correctly, probably time for you to find another job outside of life insurance sales.

 Fanatical organization with follow up. It can be ZOHO, HUBSPOT, or an old three ring binder from 1992, but you have to have some kind of follow up process to cultivate your referral network. One life insurance agent still takes the time to hand write custom made birthday cards for each client, the results are astonishing because as time goes on people are generally become more self-indulged. Remember how many birthday cards you used to get compared to now? Birthdays are a great time to reach out to people because chances are… you might be the only person who wished them a happy birthday. Any qualified prospect needs to be properly tracked in order for the right follow up to occur. It is time to force yourself to be better organized and the rewards will be worth it!

 Build relationships with other professionals who will naturally need to refer people for life insurance. Think about any situation where financial advisors who do not want to sell life insurance and only want to manage money.

 Home & auto agents who would rather refer people for life insurance than do it themselves

 Attorneys who specialize in buy sell agreements (Attorneys gets paid to draw up the legal document but are usually not licensed to sell life insurance)

 Attorneys who specialize in divorce – life insurance is often required to have in place for a certain time period after the divorce

 Accountants will refer their clients to the most knowledgeable and trustworthy agent they know

 Mortgage Brokers – their clients generally should have enough life insurance to pay off their outstanding liabilities/debts if they die prematurely

 Realtors – their clients generally like the idea of having their home paid off for their loved ones if they die prematurely.

 Creative, unorthodox marketing channels can present themselves at any time. Are you ready and anticipating marketing conduits or relationship which can grow your life insurance business?

 Referral programs are a great way to say thank you to those people sending you prospects.

These programs also become gentle reminders of your services. It doesn’t cost anything to show your appreciation, but a little gift also goes a long way. Bottom line, thoughtfulness around your referral network will become your glue that holds the entire thing together. It is extremely important to understand that a referral partner means reciprocation. Here is the secret sauce saved for last… reach out to your connections and ask them what kind of client is ideal for them…they will usually ask you the same question back… BINGO! It all begins. If you are a life insurance agent who is struggling with HOW to build referral partners, give us a call or book an appointment online at www.pacificinsurancegroup.com now is the time to chat with Carter Gray, he looks forward to the opportunity of speaking with you.

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