Prize Drawings for Referrals?

[LogicalD]

Most areas have the ability to legally pay something for referrals as long as it is not contingent on a sale etc etc.

Instead of just handing out gift cards does anyone have experience pooling referrals into a group and doing a prize drawing for a larger reward instead of small gifts.

Lets say you get 100 referrals. Instead of handing out 100 $5 gift cards you could give each person a chance to win a single $500 gift card. The gift value per person would be the same $5, but there would only be one winner that gets the bigger $500 prize.

Another way to think about it is this: If someone gives me a referral, can I give that person a Raffle ticket as a reward for the referral?


Any thoughts?

 

[goillini52]

Most areas have the ability to legally pay something for referrals as long as it is not contingent on a sale etc etc.

Instead of just handing out gift cards does anyone have experience pooling referrals into a group and doing a prize drawing for a larger reward instead of small gifts.

Lets say you get 100 referrals. Instead of handing out 100 $5 gift cards you could give each person a chance to win a single $500 gift card. The gift value per person would be the same $5, but there would only be one winner that gets the bigger $500 prize.

Another way to think about it is this: If someone gives me a referral, can I give that person a Raffle ticket as a reward for the referral?


Any thoughts?

You could have a raffle to win.......

 

[DHK]

Most areas have the ability to legally pay something for referrals as long as it is not contingent on a sale etc etc.

Instead of just handing out gift cards does anyone have experience pooling referrals into a group and doing a prize drawing for a larger reward instead of small gifts.

Lets say you get 100 referrals. Instead of handing out 100 $5 gift cards you could give each person a chance to win a single $500 gift card. The gift value per person would be the same $5, but there would only be one winner that gets the bigger $500 prize.

Another way to think about it is this: If someone gives me a referral, can I give that person a Raffle ticket as a reward for the referral?


Any thoughts?

What kind of insurance are you selling?

 

[walthamny]

If you are selling FE, medical supplements this line of strategy might work. However, if you selling annuities, large life policies, financial planning, don't even try this. A hand written personal card will get better results. If you can find out their wedding anniversary, send them again personal card.
I don't use this method but I know a friend who does this. Every year he marks which clients refer him business and he calls them on their birthday and sings to them. They dont refer him any business for 12 months, they dont get to hear him sing. It is a great conversation starter to get a constant stream of referals.

 

[goillini52]

If you are selling FE, medical supplements this line of strategy might work. However, if you selling annuities, large life policies, financial planning, don't even try this. A hand written personal card will get better results. If you can find out their wedding anniversary, send them again personal card.
I don't use this method but I know a friend who does this. Every year he marks which clients refer him business and he calls them on their birthday and sings to them. They dont refer him any business for 12 months, they dont get to hear him sing. It is a great conversation starter to get a constant stream of referals.

If I sang to my clients, I wouldn't have any left.

 

[myinsurebiz]

We do prize drawings for lead "survey" referrals.

 

[goillini52]

We do prize drawings for lead "survey" referrals.

But do you sing to them?

 

[walthamny]

If you can't sing, may be you can dance

 

[goillini52]

If you can't sing, may be you can dance

I've got 2 left feet. I'm in trouble...can't sing...can't dance...I'm doomed.

 

[DHK]

I don't dance either... so I won't ask you.