Networking
Networking improves your visibility and establishes a circle of trusted professionals that can refer you business. People need to know and trust you before they feel comfortable doing business with you and referring business.
Have a system in place to be in front of as many people as possible and have your face always visible in your community and networks.
Identify those in the community that you would like to have in your circles of influence.
Attend Multiple Networking Events
Think outside the box, ask other professionals that you want to network with where they focus their time, and get involved with a variety of groups that align with your interests:
Chambers of Commerce
Business Networking Groups
Charity Events
School Board Meetings
High School Sports Games
Local Youth Sports Events
City Government
Networking Tips
Show up to events early! Event organizers hold a lot of “connection power” and when you're one of the first people to arrive you can help out and get to know them.
Be Different. Stand Out. Be the person everyone wants to meet. The one they'll remember tomorrow. No aspect of networking is more important than having people remember you!
Don't Talk Insurance. Even if someone wants to talk about insurance, try to push it off until after the event. That way you'll be in a better situation to sell, and you'll find out whether they're really interested or were just making small talk.
Follow Up. Just like in sales, poor follow-up can make all your networking efforts worthless. Do you think someone's going to buy insurance from you or refer your agency after one meeting at a networking event? Of course not…. You need to develop strong relationships.
Use multiple ways to follow up. Follow up by phone and email but take it further. Connect on LinkedIn, follow their business on Facebook and Twitter. Avoid personal messages or friend requests with new connections. You don't want to creep them out!
Prepare General Questions. Just like in sales, good questions are like gold at networking events. Having a short list of 5-6 go-to questions you can ask nearly everyone will help you avoid awkward situations and make sure you're always showing people how much you're interested in them.
It's Not Who You Know, It's Who They Know. You're not networking to sell insurance to the people you meet. You're networking to sell insurance to FRIENDS of the people you meet. Remember that it only takes one really good networking connection to make up for all the time you spend doing it.
(Excerpts from Networking Tips for Insurance Agents: 34 Smart Ideas Written by John F. Carroll)
Centers of Influence (COIs) and Referral Sources
The best Centers of Influence (COIs) are those you build “real” relationships and trust with. Donuts and office treats are great, but it's hard to build meaningful relationships if that is all you're doing. Ask them to lunch, get to know them on a personal level. Plan something fun together based on shared interests.
Build your professional network! When your COIs tell their clients they have a team of professionals they recommend, their clients automatically trust that they are being connected with local industry experts.
The best referrals are done with a personal hand off. For example, when you are referring to a COI, offer to get them on the phone and do a warm transfer or if they emailed you, send an email introducing them to one another.
How to create referral partners and centers of influence:
Build relationships with other professionals who will naturally need you in their “referral circle”. Mortgage Brokers, Realtors, Financial Advisors, Property Managers, Captive Agents...
Start with the people you already know such as family and friends.
Deliver the greatest customer service experience in the world!
Create a follow up system and stay organized.
Show appreciation and refer back whenever possible.
Mortgage Referral Source
Why mortgage referrals?
Mortgage brokers need quick action from agents who can offer an array of insurance products to their constant stream of clients.
When people are purchasing or refinancing a home, there's a good chance they're also reviewing their overall financial situation and are open to reviewing their insurance portfolio with an agent their mortgage lender recommends.
Relationships with mortgage lenders provide an effective, repeatable business referral source.
Learn more about best practices, talking points, and tips to help you find the right partner and grow your relationship, read the attached handouts from Safeco.
Commercial Lines and Employee Benefits Referrals
Establish positive relationships with your agency's commercial and employee benefits team and position yourself as their “go to” Personal Lines expert. The client will benefit from having everything in one place and the agency is more likely to retain the client. These referrals should be a top priority. The best way to build trust between producers is to keep them informed on how it went and always put forth your best effort for their clients. Build trust and just like your clients, they'll refer more people to you!
Seminars
Identify businesses or groups where you can provide a seminar of interest. This is a great way to establish yourself as an expert and introduce yourself to others. Seek out opportunities such as first-time homebuyer classes. Reach out to local financial advisors and ask if they'd like to learn more about how insurance fits into their client's wealth management strategy.
Community Involvement
Identify community events and organizations throughout the year that have the most visibility and opportunity to establish your agency in a positive light. Keep in mind many companies offer Co-Op money and they may be willing to help fund your event.