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Referral Program That Churns 8:1 ROI First Year

Posted on by Andrea

The Key To Your Million Dollar Agency?

Excellent people working within world-class processes and systems – then simply promote the heck out of it! One of the best places to start is with a referral program. In a previous post, we talked about the Acre of Diamonds and how each person that is a current customer knows at least 150 people that they would invite to their wedding or funeral. That’s a ton of referrals!

When I started my agency from scratch, I learned about Social Proof, wrote a guarantee, and then I started a referral program. There was magic in social proof, with testimonials & reviews proving to potential customers that the experience with my agency was awesome. There was magic in the guarantee. So much magic that after showing them our written risk reversal guarantee our closing ratio went up by a whopping 31%! I knew that a third piece of the magic was a referral program.

In the beginnings of my agency, like many of you, I was attending networking meetings like crazy and was out there hustling for new business. I hustled every day to write, get more deals, get more leads. One of my buddies, who was a loan guy, was sending me all his leads and I was closing them right and left. Of course, I wanted to repay him for giving all these leads. What could I do for someone who was referring me right and left? I sent him an envelope of scratch-off lottery tickets – the lottery was really big back then. I saw him a couple of weeks later and said “hey man, thanks for the lottery tickets!” I replied “no, thank you for the leads.” And then the magic… he won $116 with those tickets!

8:1 ROI - First Year...

Of course my marketing mind spun and I knew I needed to take another step with this. I asked Jim if he would be willing to take a picture with me and hold up some money so I could tell his story. Marketing is all about telling a great story, and that visual was a reminder of the magic. He agreed, and we were off to the races. Every great accomplishment in the world starts with an idea and action. I designed an entire referral program around that picture and that story. I put it on green paper and put a headline on it. Remember, a killer headline is 67% of our response mechanism, and I started sending it out with the testimonials and guarantee. A trifecta of promotional magic that really, truly works.

Here we are many, many years later, and not only do we have a formal referral program, but now it gives back to our communities. We give back to charities, we profile charities, and we get close to charities. We have grand prize drawings and publishers clearinghouse style grand prize drawings. We have themes for our referral programs. We have unique websites that drive people to a specific site with our referral programs. And it’s all designed around a single simple 4-step checklist that your team will follow. Even better than a 31% increase on closing ratio, the simple 4-step checklist you will have a ROI for your first-year commission 8 to 1 or better, simply by implementing, executing and taking action on a referral program. We teach this all to you and so much more in our coaching programs – I can’t wait to help you start!

Want to get the secret to supercharge your commission?

Are you ready to launch an awesome referral program? You’ll learn all this and more at our 3-day Independent Insurance extravaganza, November 4-6, 2021!

Snag your tickets today here: http://beunstoppablebootcamp.com and we’ll see you there!

My name is Mike Stromsoe, I'm widely recognized as the leading author, speaker and coach for the independent insurance agency industry. You can find me at www.unstoppableprofitproducer.com.

If you're interested in attending a virtual or live event please visit www.uppfaststart.com or www.beunstopablebootcamp.com. I want to share with you some of my best money making strategies, proven over 35 years of research, in our industry to help you grow your business, create wealth so you can have more freedom to live life on your terms!

Learn more:

Podcast: http://unstoppableprofitpodcast.com/

Coaching: http://unstoppableprofitproducer.com/

Live Event: http://www.beunstoppablebootcamp.com/

Virtual Training: http://uppfaststart.com/

Create Stability While Growing Your Business

Posted on by Mike Stromsoe

Starting your business can be a little shaky over here, and wobbly over there. Once you know what owning a business is actually like, it’s time for some stability! Follow these steps to help your business gain some stability as you continue growing.

  1. Regulation.

Staying with regulations are very important for the continued growth of your business. Join organizations and seminars to know the updates on any regulations your business should follow.

  1. Hiring the right people for the job.

Hiring the right person for the right position is the most valuable asset for your organization. When interviewing your candidates, make sure that you give them an opportunity to talk about their experience in the field, their training, and what lead them to apply for this position. While money may be the real answer for all your applicants, the clever ones will have researched your company and given you an answer that fits your company’s values.

  1. Trust & Trustworthiness

Employers want the ability to trust employees, customers, vendors and the others with which they conduct their business, and vice-versa. However, in order to gain trust one must be trustworthy. Being a good leader is the best way to gain the trust of your employees. Learn from your mistakes and communicate well with your clients. Leadership begins with the careful and purposeful integration of identity and performance, being and doing, essence and activity.

Stability is sought after by everyone. After you’ve worked so hard to get your business off the ground, achieve the stability your business deserves. It is time to figure out how you can start earning more, working less, and enjoying life! Contact Mike Stromsoe’s Unstoppable Profit Producer Program to do just that!

Promote Your 2014 Referral Program With These Marketing Tips

Posted on by Mike Stromsoe

Referral programs are great ways to get additional business from a purchaser who enjoys your products. They will be eager to get their friends and family to join in and try the product for themselves as the customer hunts down the leads for you. Get the most exposure with your referral program by following these simple marketing tips.

1: Reach The Largest Audience With Social Media Marketing

Everybody has some type of account on a social media platform. Target the most popular places such as Facebook, Twitter, Pinterest, and Instagram to spread the message about your referral program. You should already have a large following as you place on the social media page your message, the reason why they should jump on this great opportunity, and a call-to-action for them to find out more information. Include links to your homepage and a confirmation page to help with promotion.

2: Market It Directly On Your home Page

The reason why some referral programs fail is because people can’t find the information readily. It is hidden amongst your web pages or placed as an afterthought on a contact page. You need the referral program to be instantly seen and understood. Place the message directly on the homepage and within the line of eyesight for visitors so they understand what is in it for them if they participate.

3: Confirmation Pages Provide Valuable Follow-up Marketing

The person loves your products and has spent a great deal of money buying them. You’ve already captured their attention, so drive home the point of your referral program within the purchase confirmation page so the customer believes they are getting a even better deal from an awesome company.

For more information about referral programs and how to market them, get involved with the Mike Stromsoe’s Unstoppable Profit Producer Program.

Planning your 2014 Referral Program

Posted on by Mike Stromsoe

Business owners understand the importance of a client base and are aware of how important it is to build and grow the client base you are currently working with. To grow your business, a referral program might be what your business needs. Make 2014 the year you start the best referral program possible, for you, your business and your clients.

To set up a referral program, you must first look at those clients you are already working with. Determine how they will benefit from referring more clients to you. Once you know that, you will be able to determine what you will give to each client for every referral they send your way. It can be cash or discounts on services. The choice is up to you.

The key thing to remember when creating a referral program is what will bring you more business, while at the same time satisfying your current clients. Once you figure that out everything else will fall into place.

For more information about how to create your own referral program or other business needs contact Mike Stromsoe. Mike Stromsoe’s Unstoppable Profit Producer Program may be what your business needs.

A Couple of GREAT Ideas

Posted on by Mike Stromsoe

If you’re like a lot of insurance agency principles, managers, producers or agency team members, you’re probably feeling a bit overwhelmed by everything facing you in today’s marketplace. You want to excel and lead your agency team into the future, but sometimes you can’t seem to find the right formula to best position your team for success and you’re starting to wonder if there might be some better options?

I totally get it. I am right there with you and I remember how hard it was for me in the early years when I was trying to figure it out. I felt like I was working around the clock but not making much progress. I was really starting to doubt myself. A lot of my consulting clients had similar experiences and feelings as well.

Ultimately I’ve found that its times like this, when you get to choose how you want show up in the world. It may not be easy or comfortable, but it’s worth it every time.

What I also know to be true is that there are good reasons why you have succeeded to where you are now. Your team, your carriers, your colleagues, your family, they all see something in you. Now it’s time for you to step up and play a bigger game. As long as you have the internal drive, you can learn the cutting edge tools and skills required and get the support you need to quickly grow in today’s quickly changing marketplace.

Back when I first became an agent, I had to fly by the seat of my pants. There wasn’t any training, coaching or resources like we have today. And I really struggled. In fact, there were many early mornings, late nights and weekends away from my family before I finally figured out what it takes to quickly and confidently create the agency that supports the life of my dreams.

That’s why I am so dedicated to helping agency principles, managers, producers and agency team members. I want you to be able to avoid all the pain and struggle that comes with not being as successful as you know you can be in your insurance agency business.

Hundreds of people that are cared about deeply, respected and are considered lifelong friends have encouraged me many times over to provide ALL of this information to as many insurance industry people as possible. After thousands of hours, over 25 years of investing in becoming the very best, after quickly growing a scratch agency from zero to over one million in revenue in less than 8 years, it’s only right that I give back, that I share every secret I have with you, in intimate detail, for free.

Take a look at the video link below. Agent Jeff Liebowitz reveals where he learned and what the results were after he implemented a took action on a couple of good ideas.

After one full day of sharing everything I can, you’ll have hundreds of new tools and tips to quickly accelerate your agency to the next level. Nothing to figure out, I am going to share all of it with you. All you need to do is show up. I hope you can make it. It is going to be a very special day!

Video >>  Here’s A Couple of Good Ideas

If we can answer any questions, please let us know. Please contact Andrea at 800-770-9984 or email her at [email protected].
To Your Massive Success!

 

Mike Stromsoe
The Unstoppable Profit Producer
Phone 800-770-9984
www.unstoppableprofitproducer.com

 

PS Remember, every interaction with our program carries our exclusive, unconditional satisfaction guarantee! You have no risk and everything to gain.

PPS  Here’s another reason you can’t afford not to invest one day in the future of your agency (exclusive video)

PPPS Below are all of the details so you don’t have to search for them:

Date:  June 1, 2012

Time Learning Begins:  8:59am

Time Learning Ends:  4:31pm (Actually Learning End Time NEVER ends)

Location:  Ayres Hotel and Suites – Costa Mesa
325 Bristol Street
Costa Mesa, CA 92626
(714) 546-0300

Airport:  4.3 miles (8 minutes) from John Wayne Airport, Orange County

Seating is limited and for only a $49 room charge (which includes lunch) you won’t want to miss out.

If you are ready to change the future of your agency and start living life on your own terms…

Instant Access To The Machine

If you have any questions, please contact Andrea at 800-770-9984 or email [email protected], she’ll be happy to help.

 

Good News

Posted on by Mike Stromsoe

Hundreds of people that are cared about deeply, respected and are considered lifelong friends have encouraged me many times over to provide this information to as many people as possible. Take a look at the good news below. I hope you can make it. It is going to be the beginning of something GREAT!

Good news

 

Wishing you continued massive success!

“You can have everything you want if you’ll simply give enough other people what they need”
Zig Ziglar

Never STOP Marketing

Posted on by Mike Stromsoe

You have taken the time to sit down with your team, gather ideas and now you have created your AWESOME NEW Referral Rewards Program for 2012…

Now how do you get the word out?

Let’s take a minute to think about this.  If you want to reach 500 people (for example), which of the following media would you use?

  1. 1. Phone
  2. 2. Fax
  3. 3. SMAIL
  4. 4. Email
  5. 5. Text
  6. 6. Social Media
  7. 7. Video

The correct answer is ALL OF THE ABOVE!!!  People are different.  I personally like to correspond via Email, my wife likes to conduct business over the phone, my son likes Facebook… you get the idea.

Here are just a few ideas that you may use to promote your referral program:

    • 1. SMAIL new flier and handwritten letter to your existing client base,
      centers of influence and your past referrers.

 

 

 

    • 4. Create Email signature and use on EVERY Email!
      PS  Did You Know… about our AWESOME New Referral Rewards Program, where YOU get a $15 Gas Card, PLUS a $10 donation in Your Name to Your Favorite Charity just by telling your friends and family about Stromsoe Insurance!  There are many other great prize giveaways and there is NO Limit to the number of gas cards you may earn.

      Check Out ALL of the program details HERE…

      Follow us on the web for MORE Great Prize Giveaways…

    • 5. SMAIL referrer appreciation postcard every month, featuring monthly winner, charities benefited, upcoming prizes.
    • 6. Promote using VIDEO and use it EVERY where.
      The Insurance Doc™ unveils the New 2012 Referral Rewards Program

 

    • 7. ALWAYS include in your monthly newsletter.

 

  • 8. Create a Closing Phone Script (i.e.  Thanks for your time today, we appreciate your business.  Do you know about our new referral program, where you can WIN great prizes like_______?)

These are just a few ideas to get you started.  Keep in mind, it’s NOT about you. Most people move to the beat of their own radio station “WIIFM” (What’s In It For Me).

Be CREATIVE, think “outside of the box”!

If you would like to know more about what the Unstoppable Profit Producer Program™ can do for you and your agency business, CALL 800-770-9984 or Email us at [email protected].

Top 10 Reasons to Stay in Touch – Are You?

Posted on by Mike Stromsoe

Recently spent almost 3 hours with two of the brighter minds in the insurance industry and I am blown away how far behind some agencies are in today’s marketplace. Don’t risk being one of the casualties. This business is NOT rocket science. Little known secret – a close friend of mine is a rocket scientist. I consulted with Ron a couple of years ago, took his photo and keep it on my phone to share with anyone I am teaching because my friend, the rocket scientist, confirmed this fact – This business is NOT rocket science

KEEP IN TOUCH WITH YOUR CUSTOMERS AND PROSPECTS – ALL OF THE TIME

Here are the Top 10 Reasons to stay in touch and thoughts from the author:

1. Most businesses lose 10-17% of their business every year.
Thought: While I realize this likely does not apply to most of you, you are still losing business. Why? Do you have a relationship with your clients, prospects and COI’s that will stand the test of time and any other forces that might interfere? The easiest money you’ll ever make is the money you are already making (your clients and past clients)

2. 62% of your clients aren’t taking advantage of all of your products or services.

Thought: Again – The easiest money you’ll ever make is the money you are already making (your clients)

3. 91% of our customers say they would give us a referral, but 80% haven’t been encouraged to do so!
Thought: This I do not understand…I am sure everyone on your team is scripted to ask for  referrals every time they communicate with someone, don’t they? Each outbound contact includes a “motivator” in every email, outgoing envelope, etc. Everyone on your team is also motivated monetarily to act. Right?

4. Simply saying “thank you” to your customer will increase your business by 17%.

Thought: This one is easy. Every time your team speaks with someone, this is automatic. Isn’t it? And they are writing a minimum of FIVE thank you notes a week. Right?

5. You lose 10% of your influence for every month that you don’t have contact with your client.

Thought: Another no brainer….true? We communicate with our marketplace at least one to two or more times a month (email, newsletter, faxes etc)….don’t we?

6. A 5% increase in customer loyalty could yield 20-80% to your bottom line.

Thought: Ah the Pareto Principle. We build loyalty consistently, especially with our VIP clients, don’t we? For example, we send a special VIP package every month, right?

7. Studies show that an average prospect won’t do business with you until they’ve seen or heard from you
or your message at least 7 times.

Thought: Finally, an easier question…..we have an automated, automatic follow-up system that contacts our prospects a minimum of SEVEN times, in different ways (email, snail mail, fax, voice broadcast, video landing page). Don’t we?

8. 79% of all trade show leads aren’t followed up with. Most business from a trade show comes from the vendor following up with the prospect.

Thought: Ok. Maybe you don’t do trade shows, what about networking events or other social gatherings. We always send a hand-written note saying “good to meet you” etc including credibility boosters….right?

9. 66% of your business within the next year will come from your sphere of influence.

Thought: Opportunity knocking? Well, if we are executing on 1 through 8 above, then maybe this applies.

10. Only 3% of the mail we receive is personal.

Thought: Dare to be different and STAND OUT from the crowd!! If you want to be like everyone else, do what everyone else is doing and get the same ol same ol results.

YOU are in complete control of your destiny.
What is working for you? Why or why not? As marketers, we test. Are you testing consistently?

The above thoughts and comment did attempt to be a bit humorous until I really started thinking about my own team in the “Living Agency Laboratory”….. gotta run, we have work to do!

Last thought: The only time success comes before work is in the dictionary!!

If you have questions regarding this article or if you would like to learn more about the Unstoppable Profit Producer Program, Call 800-770-9984 or Email [email protected].

P.S. Be UNSTOPPABLE!

This is a No Brainer…

Posted on by Mike Stromsoe

Talk to lots of agency principles, producers and other agency team members. When we discuss referrals, most say “we get lots or most of our business from referrals”.  I then ask about the structure of their referral program. Normally, a period of silence follows.

Watch this 3 minute video with a pen and paper in hand >>>> http://bit.ly/gMP28r

When you do, your systematic structure begins.

Hope this helps to continually build the agency that will support the life of your dreams.

More good news – EVERY single piece of our referral program is ready for you to plug and play today at a very deeply discounted price of $299.00 (that’s 27% off). Call 800-770-9984 now before it’s too late.

The first 3 callers to order will also receive, as a FREE BONUS, the 6 CD set and workbook of a recently recorded interview by industry expert Ginger Rogers. In this interview, everything we did to take our scratch agency from zero to $1m in revenue in 9 years is revealed…… ALL of the details. Call Now – 800-770-9984!

Keep In Touch With Your Customers and Prospects OR Others Will!

Posted on by Mike Stromsoe

Here are the Top 10 Reasons to stay in touch:

1. Most businesses lose 10-17% of their business every year.

2. 62% of your clients aren’t taking advantage of all of your products or services.

3. 91% of our customers say they would give us a referral, but 80% haven’t been encouraged to do so!

4. Simply saying thank you to your customer will increase your business by 17%.

5. You lose 10% of your influence for every month that you don’t have contact with your client.

6. A 5% increase in customer loyalty could yield 20-80% to your bottom line.

7. Studies show that an average prospect won’t do business with you until they’ve seen or heard from you or your message at least 7 times.

8. 79% of all trade show leads aren’t followed up with. Most business from a trade show comes from the vendor following up with the prospect.

9. 66% of your business within the next year will come from your sphere of influence.

10. Only 3% of the mail we receive is personal.

What is working for you?  Why or why not?

As marketers, we test. Are you testing consistently?  Need help?  Respond today, we will be helping you tomorrow.

The Unstoppable Profit Producer Team welcomes questions, comments, or concerns below or if you are ready to change the life of your agency business TODAY CALL 800-770-9984 or Email [email protected] and schedule Your FREE 29 Minute, In-Depth Agency Analysis NOW!

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