Good relationships make for better business. In real estate and insurance, clients expect a lot of personalized attention from their agents. An impressive 60% of customers claim to often or always pay more for a better service experience.[i] Thoughtful incentive programs help elevate service levels and nurture real estate and insurance business relationships.
These are industries that don’t do discounts. Sellers set home prices, and insurance company actuaries determine premiums. So real estate and insurance agents need non-cash incentives to promote sales. Loyalty programs serve as a smart tool for many successful agents. Research finds that more than half of consumers (55%) rate loyalty programs as important factors in the decision to stay with an insurance provider.[ii]
Here are 4 ways savvy insurance and real estate professionals use incentives:
1. Reward prospects who set appointments. Welcome visitors to open houses and encourage their continued engagement. Offer incentive items to customers who request quotes.
2. Provide high-value incentives for referrals–the lifeblood of relationship businesses. Send an offer soliciting referrals and promising an enticing reward in exchange for the vote of confidence.
3. Surprise and delight customers with a sizable reward item as a thank-you for a final purchase of a property or policy. This incentive increases the perceived value of the purchase and strengthens the relationship to the agent.
4. Recognize anniversaries, seasonal needs, and holidays. The regular, friendly attention fuels repeat business and retention. When the time comes for renewals, add-on purchases, resales or referrals, the thoughtful agent will be top-of-mind.
Insurance and real estate are businesses built on consumer lifestyles—so it’s important that their incentives do, too. Agents build lasting relationships when they give rewards that elevate the everyday.
Visit Incentives.Restaurant.com to learn more about value-adding, personalized lifestyle incentives.