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Insurance Marketing - How to Get a Flood of Referrals From Competitors

BY Steve Aylor | 07-01-2009 | 11:19 PM
This blog is written by a member of our blogging community and expresses that member's views alone.

Yes, that's right I said Competitors ... This might be the Ultimate of Ultimate Insurance Marketing strategies.

As
a 24-year veteran of the insurance industry specializing in commercial
Property & Casualty, I've come across quite a few referral
marketing strategies in my tenure. However; none of them have proven to
be as gratifying and successful as the system I will discuss with you
today. As I write this, I am hesitant ... I feel as I'm giving away the
"secret sauce" recipe to a million dollar insurance business. Treat
this information that follows as the Golden Goose that it is and you
will be a wealthy P&C Agent.

Insurance marketing can
sometimes be surprisingly simple and logical if we will just take the
needed time to plan a strategy and actually IMPLEMENT it. This method
illustrates this very well. Who'd have thought that there would be a
simple, cost effective strategy that would have some of your fiercest
competitors lighting your phones on fire with referrals? Frankly, had I
not been experiencing the results of this referral methodology first
hand, in the form of my own phone lighting up - I'd be rather
skeptical, as you might be at this moment.

This single referral
tactic has generated a lifetime of income for a rather successful
southern California independent agency I'm intimately familiar with.
Not just a meager income, I'm talking very substantial. If you are
willing to follow a plan, maintain a high level of integrity and
carefully target the RIGHT competitors, this program can work for you
and your agency as well.

Who Are The Right Competitors To Target?

If
you've been an Independent Agent or Broker for very long, you know that
there are a few direct writer agents that are prevalent in nearly every
state. They have a massive agency plant in place - which gives you
massive opportunity. These direct writers are also doing relentless
television marketing campaigns and driving prospects to their phones.
Here's the good news ... they can't write 30-40% of what they see each
week. What are 90% of these agents doing with those leads? Nothing.
Neglecting to call them back, perhaps developing a bad reputation, and
showing the local community their limitations. I mean who has time to
call back a desk full of calls you can't do anything for? The trick is
knowing which direct writer agents are the most likely to send you a
referral vs. letting that prospect evaporate. There are effective
methods and reasons why you should focus on one specific direct writer
agency plant vs. the others. Not to worry, there are thousands of them
in nearly every state. You'll only need a handful of key partners to
strike referral Gold!

Why Would Your Competitor Refer You?

The
reasons are plentiful. Your objective, once you decide to undertake
this method of generating referrals from your competitors, will be to
point out these glaring reasons. You'll help them solve a problem that
ALL insurance agents face. This major problem we all face will be the
driving force of making your phones ignite. Master it, articulate it to
your potential referral partner, and develop your strategy to solve it
with a high level of integrity, and you will have a stream of referrals
you've never thought possible.

As you might imagine, your
competitors will have a very high initial level of skepticism as to why
they should send YOU a referral. You will need to be prepared with
reassuring proof. You will need a plan you can communicate to your
potential referral partner that assures them every precaution to
protect their interest will be taken. We developed two elements to our
plan that have paid huge dividends. They are so powerful, they get our
Direct Writer referral partners to not only refer us their clients,
friends and family, but also other direct writers they know in the
area! It's truly magical. Secret sauce ingredient #3

5 key reasons your competitors might refer you to their client. A Sample

Johnny,
their 18 yr old son just picked up his 2nd moving violation. Their
direct writer company wants the kid to be removed from the policy or
they will terminate the whole auto account. Without an effective way to
insure the youthful driver on his own, this would likely expose your
referral partner to lose not only the auto line, but the home,
umbrella, and perhaps boat or rental property to yet a 3rd competitor
to both of you. If Donny Direct Writer tells his client, "Joe, we need
to take Johnny off the policy and you need to go shopping for quotes
for him, because we can't help you ... sorry." ... what do you think is
going to happen to that account? Ivan Independent Agent is going to
swoop up on the whole account faster than a NY minute!

This
direct writer agent is highly motivated to find a solution to this
issue, but alas he can't, unless they have someone like you. Some
agents could very easily solve it, others cannot. Knowing which agents
desperately need to partner with an Independent Broker is the key
ingredient to the secret sauce. Another vital element is knowing how to
articulate to your prospective referral partner, the 5 Key situations
where they have been exposing their client base to peril by not using
you as a resource.

Combining The Secret Ingredients Equals a Million Dollar Referral Recipe

For
the enterprising agent or broker, this article provides enough
information and strategy to direct you on a path to a very successful
referral strategy. Once you identify the 5 Key Situations your
competitors need you, and develop a plan that secures your referral
partners interests, and finally ... you know the secret to identify the
right Direct Writer agents to target - You will have a home run
referral strategy that can pay you a handsome residual income for a
lifetime.

Want all the Ingredients to the Secret Sauce? Look
below for a link to the report... Insurance Marketing Secret Sauce
Exposed - How To Get Referrals From Your Competitors.

To your success,

Steve Aylor

Fill
in all the blanks and shortcut your learning curve. Read in great
detail how we perfected a system over 42 years that generates a flood
of referrals Daily, Weekly and Monthly.

Insurance Marketing Secret Sauce Exposed - How To Get Referrals From Your Competitors

http://www.4morereferrals.com/secretsauce

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