How can salespeople improve their referral rates despite the low number of referrals they ask for?
According to a recent survey, 91% of customers would be willing to provide a referral to a company or brand they are satisfied with. However, only 11% of salespeople actually ask for referrals. This statistic highlights a major missed opportunity for B2B companies to grow their customer base through the power of word-of-mouth marketing.
The fact is, referrals are one of the most effective ways to acquire new customers. Referral leads convert at a higher rate and have a higher lifetime value compared to leads from other sources. In addition, referred customers are more likely to become loyal, repeat customers, and even refer others themselves.
Being a good B2B sales professional is all about building strong relationships with customers, providing exceptional service, and making it clear that you value their business.
Salespeople can also make the process of asking for referrals easier by providing incentives or rewards for customers who refer new businesses. This can be as simple as a discount on their next purchase or a small gift card.
Additionally, referrals help your business generate new leads and close more deals without having to spend extra money on customer acquisition efforts.
By personalizing the sales process and providing an interactive sales experience for your customers, your B2B sales reps will be able to convert more customers and generate more revenue for your business.
In conclusion, this statistic speaks for itself.
Referrals are a powerful tool for growing your business, and salespeople need to start taking advantage of this opportunity. By building strong relationships with customers and asking for referrals in a natural and effective way, businesses can tap into the potential of word-of-mouth marketing and accelerate their growth.
If you’re looking to improve your sales process and take advantage of the power of referrals, consider booking your demo with Saleslion today. Our expert team can provide you with the tools and strategies you need to succeed.