A new study reveals that referrals produce far more ROI than any other prospecting strategy.
I’ve been spreading the gospel about the power of referrals for decades. But until the last few years, I had only anecdotal evidence and common sense to back up my claims about the value of referral selling. Now study after study proves what I’ve been saying for years: Referral selling is, hands down, the most effective prospecting strategy.
B2B sales reps report that referrals generate at least twice as many closed deals than marketing-generated leads, according to Sales Benchmark Index. This study also found that referral programs generate 300 to 400 percent more ROI than all other campaigns combined.
Check out the latest from No More Cold Calling to learn more about how to leverage the power of referrals and fill your sales pipeline with more qualified leads than ever before:
You Can’t Stoke a Cold Fire
Most salespeople are motivated by the instinctive desire to achieve immediate, tangible results. They want a sale, and they want it now. But all too often, this “cut to the chase” mentality precludes sales reps from taking the time to first establish relationships with their prospects. Guest blogger, Bob Terson, explains why relationships must be priority No. 1 for salespeople. (Read “You Can’t Stoke a Cold Fire.”)
I Get By With a Little Help from My Colleagues
Salespeople know and understand each other. We’re always looking for more business and for any opportunity to reach and surpass our quotas. We’d rather beg for forgiveness than ask for permission. We have similar goals and interesting war stories. And we’re willing to help each other if at all possible. That’s why other salespeople are great Referral Sources. (Read “I Get By With a Little Help from My Colleagues.”)
Prospecting is Your Job
Many salespeople complain that marketing isn’t providing enough leads and definitely not qualified leads. Following up on poor leads is a waste of your sales time. But that’s what happens when you let someone else do your job. (Read “Prospecting is Your Job.”)
No More Cold Calling Webinar: 5 Referral Selling Tips
Want to learn even more about the power of referral selling? Check out this webinar for five tips that will help you tap into your referral network and blow your numbers out of the water. (Watch the No More Cold Calling Webinar.)
Did You Know?
A growing business means growing expectations. Smart people invest in your ideas because they believe what you offer is a knock-your-socks-off, unique, scalable solution.
You need more great clients and more sales, which means your sales process and sales strategy need work immediately. But if your experience is in conceptualizing and marketing a great idea, product, or service, rather than selling it, check out our new Interim Sales Advisor Program.