Building realtors and lenders as key referral partners.
Ever wonder why referral programs are highly valued over other marketing techniques?
In the insurance space, referral programs have long been the go-to option for generating leads. Insurance agents can establish a consistent source of referrals by building strong relationships with other professionals, like realtors and lenders, who are among the first to know when a house is sold. With regular referrals from them, insurance agents can grow their business exponentially.
However, when property and casualty (P&C) agents approach realtors and lenders, they are stumped by the age-old question of ‘What’s in it for the realtor or lender if they partner with me?’
The usual value propositions, like evidence of insurance to closing on time, thorough explanation of policy and coverage, annual reviews, and best premiums, products, and programs, are all attractive for the policyholder but offer little value to the realtors and lenders. Be it a captive or an independent agent, they all offer the same or similar products. There may be some flexibility in carrier choice or developing a program that fits the client’s needs. However, neither can make a compelling argument on how they benefit realtors and lenders in return for referrals and how they stand out from other agents. Decades of experience, a great team, and free doughnuts and coffee no longer make the cut.
RECAMP changes this in favor of P&C agents through its straightforward yet impactful marketing program that utilizes the Laws of Marketing and Reciprocity.
Renowned American author, salesman, and motivational speaker Zig Ziglar says, “You can have everything in life you want, if you will just help other people get what they want.”
Helping realtors and lenders build their businesses and generate referrals will result in them helping agents build their insurance businesses.
But how can insurance agents help them build their business? The agents typically aren’t a good referral source since they are at the tail end of the process.
The answer is simple: understanding the weaknesses of realtors and lenders.
For over two decades, RECAMP has perfected its formula and ensured continued success by cracking the code to a longstanding problem that has left realtors & lenders baff led—Why do homeowners rarely use the same realtor or lender a second time?
“Consumer surveys suggest that 75 percent of homeowners were happy with the realtor or lender they used and would use them again. However, less than nine percent end up using the same realtor or lender a second time,” says Lance Groenewold, president of RECAMP.
“What’s more surprising is that customers rarely remember the name of their realtor or lender after twelve months.”
This leads realtors and lenders to believe that investing their time and money in finding new clients is more fruitful than trying to generate referrals. However, their past clients are often the best sources of referrals for them.
If P&C agents can find a way to help realtors and lenders generate more referrals from their past clients, friends, family, and sphere of influence, they’ll become valuable members of that realtor’s and lender’s teams.
RECAMP is the system that does just that! “Once the realtor or lender has partnered with your agency, you will be able to help them generate more business and more referrals from their clients!” says Groenewold.
“After a realtor or lender refers you a client and once you’ve written the policy and a mutual client is established, RECAMP regularly sends marketing materials to those mutual clients on behalf of your realtor and lender partners. Each time a marketing piece is sent out, an email notifies the realtor or lender about what was sent, when it was sent, and who it was sent to. This gives your realtor and lender partners the perfect opportunity to pick up the phone, call their clients, visit with them, and generate referrals.”
When a realtor or lender is given an opportunity to have their clients marketed to several times a year with marketing pieces that are personal, unique, and different, and there is no cost and no work on their part, who would decline?
To help P&C agents leverage the system’s benefits, RECAMP hosts a 15-minute webinar that teaches them how to utilize and better understand the program. They also learn the importance of branding themselves, what to say and not to say when talking with realtors and lenders, and other valuable strategies that help them stand out from
“We are not a niche marketing company focused on digital or social media marketing. We are a marketing company born out of a necessity, and 24 years later, we are still doing it better than anybody else in the market,” says Groenewold.
With RECAMP in their arsenal, P&C agents can create valuable networks, place their referral program on autopilot, and focus on what they do best; writing more policies.