A steady stream of qualified referrals is the lifeblood of any agency. Eighty-two percent of survey respondents cited referrals as the most effective way to prospect for new business, and for good reason: No other method will provide greater bang for your buck, so to speak. Having a solid referral-generating process in place will ensure not only that you are constantly introduced to new prospects, but that you are constantly introduced to the right prospects — the ones that meet your Ideal Client profile.
2. Participation in community groups, associations or activities
At 34 percent, community involvement was named the second most effective prospecting technique. It’s Branding 101: The more people who associate your name with a positive message, the more clients you will have. Make community involvement a cornerstone of your agency, and you will see a boom in business as a result – not to mention a greater satisfaction and sense of fulfillment in the work you do each day.
3. Local events or seminars
Leading a seminar serves two important purposes: First, it establishes you as a thought leader in your area of specialty; second, it puts you in front of a group of prospects that have already expressed interest in your product line.
4. Cold calling
It may sound old-school, but cold calling can still work according to 15 percent of agents we surveyed. In fact, picking up the phone beat out sexier methods such as social media (7%) and advertising on the radio or television (5%). Cold calling is tough, but asserts emphatically that it is not dead. To see results, you must put in the time you would with any other prospecting technique — and, of course, have thick skin. “You need to make a lot of dials. You need to target the right companies. You need a compelling opening. And you need to speak to the right people.”
5. Direct mail
Fewer than 15 percent of respondents cited direct mail as an effective prospecting. The clients producers are looking to reach, the seniors and the boomers, just are not as prone to go to Google and look something up. This is why more of your successful agents are still using direct mail.