Advisor Today > > April 2001: E2E: A Referred-Lead Program That Works

E2E: A Referred-Lead Program That Works

Spend more time working with your clients and less time prospecting for new ones

Jeffrey T. Wilkie, LUTCF

How often do we hear stories about agents who have no time to prospect for new clients because they are kept busy with referred leads that come from their existing clients? Could it be that these particularly successful agents are following a process that allows them to spend more time selling than prospecting?

First, this is not to say there is only one method that consistently produces results in obtaining high-quality referrals. All of us have heard the saying that unless you ask for referrals, you should not expect to get them!

The following describes a process that has produced what we believe are high-quality referrals. This process begins with mailing a letter to people we know, regardless of whether or not they have done business with us. The common factor here is that they know us and there is a level of confidence and trust. The following is a sample Request-for-Referrals letter.

The form (see Sample A) is mailed with this "Request-for-Referrals" letter. Once our client completes the form, he mails it back in a return envelope.

Upon receipt, we mail an "Approach Letter" to the referred leads that we have received. We usually accompany this piece with a press kit, which tells the prospect about what we do. This takes the form of either an audiocassette tape or a brochure, which includes our picture.

After no more than a week, we follow up with a phone call to the referred lead to request an appointment. I have found that unless there is a system in place, the referred lead question is often overlooked during the interview with a client. Our system enables us to ask for referrals several times a year and to ask for them not just from people we have done business with, but from those who are already familiar with us and feel comfortable in referring us to other clients.

In closing: Don't expect to get referred leads unless you also give referred leads.

Request-for-Referrals Letter

April 3, 2001
James Smith
123 Main Street
Anywhere, NY 10001

Dear James,

It has been 15 years since I started building an organization involved in the insurance planning industry. Our knowledge, experience and manpower have earned us a reputation as a service organization that is dedicated to providing insurance and financial programs for individuals and businesses.

I am writing to ask for your help in introducing me to people like you who might need someone to help analyze their financial and insurance goals and develop plans to reach those goals. As I'm sure you can understand, almost everyone is more comfortable working with someone who is referred to her instead of working with a stranger.

Our process of developing a relationship consists of two stages. The first requires you to complete the enclosed form, titled, "Do you Know Someone Who' ?" ( See Sample A. ) This form helps bring to mind people you know who are in situations that usually require financial and insurance planning. The second stage happens after we receive this form back from you. We then send a letter with a reply slip and a self-addressed, stamped return envelope to the people from your list. This letter asks them to return the reply slip if they are interested in receiving more information about financial and insurance plans.

Please realize that my approach involves service before sales, without any degree of pressure to buy. Any plans that are created have been developed from my client's goals.

Please return the enclosed form if you know of someone whose circumstances warrant the services of my organization or if I can be of help to you.

Thank you.

Jeffrey T. Wilkie, LUTCF, has been an agent and registered representative in the insurance and investment-planning arena for the past 16 years. He can be reached at 888-616-5656.

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