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Insurance and Mortgage Agents do The Math on The Value of Referrals
Santa Monica, CA (PRWEB) June 5, 2007 -- ReferNow.com (www.refernow.com) the leading web-based customer and referral rewards program, today announced a new program that helps insurance agents increase Customer Lifetime Value (CLV).
Customer Lifetime Value (CLV) projects the value of a customer over the entire history of that customer's relationship with a company. Agents that measure CLV generally place emphasis on long-term customer satisfaction, rather than on maximizing short-term sales.
ReferNow.com helps health, auto and life insurance agents leverage their relationships with existing customers and increase CLV by offering rewards for new customer referrals.
"Referrals are my bread and butter," said Bill Levin, co-founder and president of www.HealthInsurancePricing.com - an online portal that allows consumers to price various health plans. "I see so many agents spending thousands of dollars on new customer acquisition - this approach is becoming less and less effective. The best way to grow your business in the long-term is by mining your existing customer base for referrals."
"The cost of acquiring one new customer is staggering," said Nicole Wicks, president of ReferNow.com. "Asking for referrals from your existing customers is one of the easiest things you can do to rapidly increase the value of every customer you worked so hard to acquire."
Wicks says agents who use Refernow.com and actively conduct a referral marketing campaign will inprove CLV, lower advertising costs and increase the number of referrals they receive.
"Whether you are an independent agent or a marketing coordinator for a larger agency, asking for referrals from your existing customers can quickly build your business," said Wicks. "It is the best way to increase the CLV of every customer. Plus, at $19.99/month, ReferNow.com quickly pays for itself."
About ReferNow.com:
ReferNow offers an online referral rewards and marketing tool that motivates your customers to talk about and recommend your business from day one! ReferNow.com has helped business owners and sales people increase their referral business by as much as 500 percent. ReferNow.com is available for a no-risk 30 day trial from the company's website at http://www.refernow.com.
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