Referral Program Rewards and Incentives: Save & Go Beyond Quotes

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Gift cards can add up fast, especially if you're offering $50 gift cards to each referring client.

COSTA MESA, Calif. - eTradeWire -- Getting client referrals ( is probably the best way to grow your business, but what about incentives and rewards? You may be spending thousands on gift cards already. Gift cards can add up fast, especially if you're offering $50 gift cards to each referring client. As you know, even though referrals are sometimes a sure-fire way of gaining new clients, not all referrals are going to buy what you're selling. Save some cash!

We know how to keep costs down after doing some digging for you, to find cost-saving card distributors who can save you hundreds of dollars. We also wanted to help you springboard off a traditional referral program to include shares on posts on social media. This is another referral-method that works very well and can get you in front of lots of people for the same price as a referral. Check out what we have in mind below.

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Social Media Referrals

Many agents wrongly assume that a referral program is only relevant if you give a quote to the friend, relative or acquaintance of a current insurance client. If you open yourself up to asking a client to share your posts on social media, you have a unique and promising opportunity to get the greatest amount of exposure to a client's friends and family -- many of them at once! Of course, offering incentives and rewards helps here too.

Hopefully. You've already created a business page on Facebook, Instagram, LinkedIn and Twitter. Snapchat is also a channel that is often overlooked but makes for a perfect in-circle networking tool. It's especially a good tool for those of you who run a brick-and-mortar agency because much of it is geography based.

Regardless of which channel you prefer, it's highly suggested that you dabble in all of them because different demographics prefer one channel over the others. You'll notice fast where you're flourishing and where you're floundering.

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Referral Rewards and Incentives

Gift Cards

If you thought that you can only buy gift cards at face value, you've been rewarding clients by losing money. You may also be paying too much by buying your gift cards in bulk at the local grocery store, Walmart or Target.

Psst...We have a secret to share: There are amazingly easy ways to spend very little on gift cards, making it easier to offer cards that carry more value than, say, a $10 or $15 card....

To see the rest of this article visit SmartFinancial (

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Source: SmartFinancial
Filed Under: Insurance

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