Millionaire Insurance Producer: Throwback: How to Get More Referrals

Referrals, referrals, referrals! You've probably heard that referrals are great to get and have the highest win percentage when compared to other forms of prospecting. And, you'd be right to think that because it's true. However, most insurance agents and agencies do either a very poor job at systematically asking for (and receiving) referrals from their client base or COIs, or they have no process for referrals at all. In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht will give you a step-by-step process you can use to get more profitable referrals from your clients and COIs. Episode Highlights: Charles reveals that while he was a producer for almost 10 years, he wasn't very good at getting references. And it was partly because the kind of company he was pursuing was not one that relied heavily on referrals. (2:01) Charles explains that when it comes to requesting referrals, you must be careful what you ask. (5:56) Charles discusses the reasons why it is critical to have prospects prepared ahead of time. (9:04) Charles mentions that if you are comfortable with your customers and your circle of influence, the recommendation will be substantially better. (12:00) Charles explains that when you work with clients and centers of influence, you highlight possible opportunities that can be powerful for prospecting. (14:47) Charles suggests that if you've saved 30 customers in various places, you can create Excel lists for different prospects you're analyzing and identifying as possibly good prospects to go after in those geographic territories. (16:37) Charles believes you should invest heavily in referral prospecting. (18:46) Charles explains that when he asks his coaching clients, who are insurance agents, about their methods of prospecting, very rarely do they mention referrals. (21:57) Charles mentions that we are severely lacking in getting referrals, an excellent method of prospecting but that it shouldn't be too tough to improve. (25:04) Key Quotes: “If referrals are important to you, then choose wisely.” - Charles Specht “When you work with each of your clients, and your centers of influence and you're going through the list of these potential prospects and they're highlighting them, you need to utilize that information because you're going to have multiples. You're going to have multiples. And that becomes very, very strong information to use when you're prospecting.” - Charles Specht “I encourage you to start looking into getting better at doing referral prospecting. And then thank me later.” - Charles Specht Resources Mentioned: Reach out to Charles Specht Permission Network Insurance Agency, Inc.