Referral Letters and How To Grow Your Client Base Faster!
Referral letters for insurance agents and financial advisors, effective letters used in a mini marketing system, can help you build your book of business faster than anything else you do in your marketing.
What kind of letter should one send?
First, the kind of referral marketing letter you should NOT send is a very boring, stuffy letter about how wonderful your services are and how many assets under management you have or anything else that toots your horn.
There is a time and place for that. But not in a referral letter.
The first step to writing an effective referral marketing letter is to write down how you are going to implement your letter system.
Getting your current clients to refer is just like any other marketing campaign. You have to see your referral letters as a marketing system, and implement it as such.
To often I see advisors and agents finding a boiler plate company letter, stuffing it in an envelope, and then crossing their fingers that their phone will ring off the hook.
Here's One Alternative:
The tried and true prospecting letters system is still effective, and more so in my opinion when you use it for getting referrals.
The way it works is you send a series of three or 4 letters to your clients spread out 7-10 days apart.
The letters should use 'Reason Why' ad copy. Reason Why is a powerful marketing tool because you are explaining exactly why you are contacting your prospects.
The second technique you should use is to be sure to grab your prospects attention with your referral marketing letters.
When you combine an effective attention grabber with reason why marketing, you can create a huge response rate.
But response rates aren't the main objective. Return on Investment is. If you mail 100 letters and get 1 referral, you are winning. Because 1 referral can easily earn you several thousand dollars in commission over the lifetime of your relationship with your referred client.
My favorite referral marketing tool is to use a print newsletter and include a referral sheet inside of it every six months. Read this article about how to use insurance newsletter marketing to build your business and get referrals without asking for them.
Referral Marketing Letter Product Recommendation: Get This Now -- 25 Referral Letters! Not just your everyday boiler plate letters. Letters that work!
Sample Referral Letter!
This referral letter is a boiler plate referral letter example that your client would mail, or even email, their friends, family, or associates. Use it at your discretion:
Day, Month, Year
123 Main Street
AnyCity, USA 55555
Dear Mr. Doe:
Have you ever made a decision that changed your life? Well, I can honestly say that my decision to enlist the services of (name of financial planner here) is probably the best financial decision that I have made in a very long time.
The advice and expertise Mr. (insert financial planner's name here) has given me has proved to be invaluable. Truly! It may seem hard to believe, but since I have been working with (insert financial planner's name here) I have seen a decided increase in my savings and my investment portfolio has actually shown a profit, not something I was expecting in these rough economic times.
If you are looking for a way to get a leg up on your finances, then I can, without reservation, recommend that you seek the services of (insert financial planner's name here). Their professional service and insight can make a decided difference in your economic future!
(Your client's name goes here)
Did this referral letter give you some ideas or inspire you to begin a referral marketing system? I hope so. To make getting referrals easier, I highly recommend you optin for this free video and referral marketing strategies on this site now.