How To Ask For Referrals As An Insurance Agent (131 Sales On 1 Lead)

Here's how you can make 131 sales off of one self generated lead. So if you're watching that and you're wondering how is that even possible or maybe you think that can be done, I'm about to tell you how you generate your first lead, right? You get an appointment, you make a sale. There's three ways that you can do this. You can first, ask for permission to contact the primary beneficiary. Second, always ask for a contingent beneficiary and offer to contact them. Third, ask for three referrals at the end of the conversation after you've made the sale and now you have five new leads that you didn't have to pay for. If you repeat this process, you will then be able to ask for an additional five referrals from the five sales that you make off of your new five new lead, your five new clients. Wash, rinse and repeat. After doing this only three times, you end up with 131 insurance policies. If you only wrote one policy per person per referral that you asked for, assuming that you started with Ms. Jones and only asked for five referrals moving forward and just did the same process over and over from each of the people that you sold. If you're watching this and you're wondering how do, how do I even ask for referrals and you don't know how, that's exactly what this video is for. So the first secret to asking, asking for referrals is to set the expectation you want to pre frame the conversation. I'm not going to be the sleazy salesman on the back end asking for all of her friends and family's contact information. It's weird. So instead what I'll do is I'll let her know on the front end I'll say, Ms. Jones, I'm going to make you two promises here at the beginning. I'm going to tell you how I do business. Is that fair enough? Yes, it is. Then what I'll do is I'll say the first thing that I'm going to let you know is that I'm always going to be honest with you. You may not want to hear everything that I have to say because you know, life insurance is a little bit heavy. What I will tell you is that I'm never going to lie to you. And whether or not this is a good fit for you, I will let you know. Okay? The second thing is that I'm going to make sure that not able to move forward in any direction, whether it's moving forward and getting you a policy or not, unless you understand exactly everything we've gone over today. Now, by the end of this conversation, what I'm going to do is I'm going to ask you for two or more referrals. If you feel like you've gotten adequate value from me, then I would expect you to reciprocate that. Is that fair enough? Yes, of course. She'll always say that. And so there's two things that I want to mention before I move on to the next secret and show you an example of how this works. Leaving a business card behind. In no way, in no universe or dimension has ever been asking for a referral. So kill that habit. Now. The second secret is there's no secret sauce to asking for referrals. I'm going to tell you how I do it. I'm going to give you my script. I'm going to go over all of that in a second. But you just have to ask, if you don't, the answer is always no. So in closing out the conversation, I'm always going to ask. So, Ms. Jones, you know, I'm going to relax, act like I'm at home, on the phone or in the house, it doesn't matter. Ah, Ms. Jones, you know, do you feel like you better understand your insurance now? Yes. Oh my gosh. She's going to rant and rave for you to be able to use this technique, you do have to actually educate them on the insurance. Just a little, just a little light bulb tip there. Right. And so after, after she affirms, yeah, okay, I do feel like I understand my insurance better. The next step that I will take, I will say, oh, of course. You know, I'm so glad that I was able to help you out. I'm so glad I was able to give you that value. See, I'm using a keyword there. As I told her earlier in the conversation, if I gave her adequate amount of value, I would ask for the referral. Yeah. So I'm glad you got a value out of our conversation. Who are two people that you can think of that are in a similar financial situation to yourself that could benefit from going over what we went over today? Now, the reason I asked for similar financial situation is because it's not vague. If I say two or more people, her mind starts wandering. When I say similar financial situation, she's already thinking about people who are making the same money as her with the same issues. Automatically you've got two people that have come to mind. And then asking for the third is a seamless transition. After that, I'm also going to ask for permission to contact the beneficiaries and I'm going to show you how you know, who are two more that are in a similar financial situation to yourself that could benefit from going over this information. Oh, my cousin, blah, blah, blah, and my aunt, blah, blah, blah. Oh, perfect. Okay, gotcha. And you said your aunt's name was what? Oh, okay. And what was her phone number? And then your cousin's. Okay, and what was his phone number? And there you go. And then do you think there's anyone else in the family or maybe a friend that you know could benefit from going over this with me as well? You. You know, I want to make sure that nobody's getting left out and they don't have to chase me down or anything. See, I'm making myself a scarce resource, Mike. You know, my cousin, blah, blah. Okay, cool. And what was it? Oh, no. Perfect. Then after I've gone in and I've asked for all of those, I'm going to ask for permission. I'm not going to tell her I'm going to ask for permission. She's going to give me the go anyways. Ms. Jones, do you think it would be okay for me to reach out to your beneficiaries just so they would have my phone number in the event that something were to happen to you? That way they don't have to chase me down or, you know, search through your house for the insurance paper, wondering where they could find the phone number to call the insurance company. That way I can go through that entire process, process with them. Do you think that would be okay? Would that be appropriate? Two more referrals right there. Boom. That right there is how you can ask for referrals with your contingent and your primary beneficiary and three people. I want to give you a couple of tips here as to why I do everything the way that I just did it. First tip is I'm always pre framing. I'm never going to spring it up on her at the last moment. I need to set the expectation to make sure that she feels comfortable and she doesn't feel like I'm taking advantage of her just for her friends and family's information at the end of the appointment. Notice that I'm always asking for confirmation of value. And I'm also asking for people who are in a similar financial situation. Right. Point of interest. Also note that I'm going to ask for the phone numbers after she gives me the names because she's not going to say, my cousin Bill, here's his number. 719-339-4400. It's not going to happen. It's weird. It's awkward. Nobody does it in normal conversation, so why would she? Now you have to ask. Keep in mind, I'm also going to confirm their number and read it back to her to make sure that it's the same one that's in her phone. And I'm going to make a joke out of it. Oh, well, hey, I just want to make sure, just so I'm not talking to the wrong Becky. Her number was three three, six. You know, whatever, whatever, whatever right now. Because a lot of you are wondering, how can I even go about calling these beneficiaries, calling these referrals? That's a great question. So I figured I would go ahead and give you my script on that as well. First, let's go over calling referrals. When I go. When I'm calling a referral, the first thing that I'm going to always do. So they don't think I'm a telemarketer. They don't think I'm some scummy car salesman or some insurance sleaze bag. I'm going to go straight to the point that I'm calling them because their family member asked to. And I'm using a point of interest. Hey. Hey, Susan. I was just giving you a ring because your grandmother asked me to. Becky. Yeah, we were just on the phone and she. She said that you might have a couple of questions for me. Questions about what? Oh, I'm sorry. Let me introduce myself. My name is Julian. Yeah, I was giving you a ring because she said that you guys were in a similar financial situation and I might be able to help you guys out. I'm actually helping her out with some of her, you know, with some of her finance. You have a moment? Right? Or I can just set an appointment. Doesn't matter either way. But I'm always going to ask for permission after I've stated that I've worked with the family member. Because now I'm a trusted advisor and I'm a welcome guest, not an unwelcome pass. So to give you guys an idea, number one, name drop. Number two, explain why you're calling. Just shooting the shit, talking about how you guys are. Oh. Oh. She was the best grandmother ever. We baked cookies. Yeah, we talked about the prices. Right. For an hour and a half. Just get straight to the point. Explain why you're calling. Now Number three, for your third point, make sure that you explain what just happened with their family member. Make sure that they understand that you're not just some scummy guy that's trying to use their family member as an in and explain. Oh, yeah, we talked about. She said you love dogs or you love horses. Use something that's in common, something that they. That they would know about, and then go to set an appointment or go straight for the call right there if they're not. If they're not visiting. So calling beneficiaries. Number two, if you're calling a beneficiary, the first thing that you're going to want to do is give them a ring and let them know that the person who put them down wanted you to call them. Hey, is, you know, is Tim there? Yeah. Hey, Tim. Your mom wanted me to give you a call. She had me list you as her primary beneficiary on a policy that she just put in place to make sure that if anything were to ever happen to her, that you would get left some money, some cash, you know, or a benefit. Right. Some people are very weird about telling their kids that they're leaving the money behind, or their spouse. Some people are paranoid as can be. And so oftentimes I'll ask, hey, you don't want me to mention how much you're leaving behind, or is that a big deal? I want to make sure that you're comfortable in this situation as we handle this moving forward. And so I was. Okay. Yeah. So basically, you know, what she wanted me to do is to give you a ring, make sure that you had my name and my phone number in the event that. I know it's not something you want to think about on a Tuesday afternoon, but, you know, just if something ever happened, you don't have burn the house down. Just looking for a business card. I just wanted to introduce myself. You want to go ahead and type this in your phone? They're going to say, yeah, oh, yeah, of course. Now, while I have them on the phone, this is a great opportunity for me to kick up a conversation about. So I was just talking with your mom. Can you believe that? You know, she. Again, I'm not going to tell you exactly how much, but she was only getting enough to, you know, cover a funeral and then some. Dude, it was like a hundred bucks a month. Can you believe that? 100 bucks a month. She's on a fixed income. Yeah, I know. It's crazy, too, because if she'd have gotten life insurance at your age, it would have only probably been about 30 bucks a month and she could have gotten like, you know, a million dollars in coverage or something. Now, granted, these are different types of insurance policies, and you need to be sure to go over that with them. You don't want to confuse or mislead the prospect by any means, but it's something to pique their interest to move forward into a conversation. Oh, really? Interesting. Yeah, yeah. I mean, you know, while I got you on the. While you're saving my number, I can just pull up a quote for you right now. I'm straight in a conversation. Yeah. I'd have to ask you a couple of health questions and, you know, go through all that stuff, but, you know, it takes a few minutes. Mom did it right. Thank God she planned ahead. What would your kids think? Do they want you to plan ahead? Now? I'm in a conversation, in an appointment now, if they're busy, of course, I'm at work. I can't talk right now. Hey, you know what? I totally understand. Let me give you a ring back. That way, you know, I can tell you what the next steps would be, and that way you can just save my phone number. And in the event that you need anything, you can always reach out. Three points you need to take away from that. First, I'm always going to use my client the same way that the one I'm calling with a beneficiary as a point of interest. I'm always going to say, hey, mom asked me to call, blah, blah, blah, this, that, and the third, because it keeps them on the phone. They're not going to hang up on me because I'm no longer a telemarketer. I'm a trusted advisor. Number two, I'm not just calling because I'm a nice guy. Yes, I'm a nice guy, but that's not why I'm calling. I'm calling to see if there's more business in the house. Is there anyone else that I can help? Right, because at the end of the day, we're not salespeople searching for a commission. We're problem solvers looking for an issue. And so if we're not going after. Everyone in the home heard of horror stories where people have gotten insurance and then their brother died the next day, and then they all still ended up passing the hatter. And she came out of pocket. The person I signed up or their dad died. She had 14 siblings and he was married. And the wife took all of his assets and ran, and none of her siblings out of 14 were willing to help her even pay for a funeral, and she was stuck on a payment plan for 12 and a half years. It's ridiculous. So if you're an insurance agent watching this, you're not asking for referrals right now, or you're not contacting beneficiary, you're doing your client a disservice and you're doing a poor job. Luckily, you can use that script and employ it moving forward to not only make more money, solve more problems, but also to help more families. I want you to keep that in mind moving forward. But point number three before I close out here is that every, every single action that you take should be made with intention. Take intentional action so that you can finally realize that everyone that you talk to is elite, not just the person who sent the mailer in. Because if you can get off market deals, you're beating out every single other agent in the country. So if you like this video, go ahead and click the like button, the subscribe button. Leave a comment down below, let me know what questions you have. And if you want to get more weekly training like this on sales marketing, getting more leads coming in for you, how to work referrals, so on and so forth, you can click the link down below and join Insurance Agent Freedom. We'll see you next. Next one.