Best way to thank a referral?

Get creative. In P&C, for several reasons, we can be limited in terms of dollar amount we are able to spend on rewarding referrers. When it’s someone I find giving me frequent referrals, I know they are thinking about me quite a bit. So I spend a little time to find out what they actually care about and tailor my response accordingly. A little homework goes a long way.
Thanking referral partners for referrals is an art but in my opinion not an expense. The best way to reward a referral is with a referral. It is a pleasure to do business with people you trust and like. Once you make a referral a business transaction with rewards and gifts it becomes something else. A hand written letter, a phone call, a lunch, a referral are all fantastic ways. People do business with people they like, trust, interesting, and get feedback their referees had great experiences.
Be wary of overly generous gifts...if the insured found out and felt that the original referrer was only sending them to you because they were expecting some sort of gift, they may wonder if they were sent there because you are the best option. Personally I like to focus on an overall relationship with an introducer, rather than deal-specific rewards.
I bring my providers who send referrals my way chocolates and treats for the whole office at the holidays, same goes for the pharmacies, and community referrals.
My tax friends enjoy a pick me up during their busy season.
Year end drawings for client referrals.
Also if the person sending referrals is part of a certain charity why not donate or get involved with it. I do this with some of my provider and community referrals.
But #1 thing you can do for them is provide the person they referred phenomenal customer service
Add them on your facebook and find out whats important to them. If they like pets put them on a special email list and email something funny or interesting about petcare quarterly. A good Crm and good virtual admin will speed this up. The person refering would appreciate it and it has no monetary value for regulators to pick on. If they have children ask them to forward any school fund raising request.

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