How can salespeople improve their referral rates despite the low number of referrals they ask for?

91% of customers say they’d give referrals. Only 11% of salespeople ask for referrals

Source
The Bevet Group

Topic
Sales Tactics

Year
2023

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.

More 2023 Stats

97% of sales leaders and sales operations pros say AI gives reps more time to sell

Outsourcing lead generation generates 43% better results than in-house lead generation

Around 45% of web store payments are made with digital and mobile wallets

36% of salespeople say that closing is the hardest part of their job

77% of B2B Buyers Do Their Own Research Before Speaking to Sales

61% believe that salespeople are underappreciated

Nearly 13% of all the jobs in the U.S. are full time sales positions

Email is almost 40 times better at acquiring new customers than Facebook and Twitter

78% of salespeople that make use of social media outsell their peers

Using a CRM to track sales is standard practice for 79% of sales reps

More Sales Tactics Stats

Emails with a Single Call-to-Action Increased Clicks 371%

69% of recipients report spam based only on the subject line

Top Performers’ Discovery Calls 76% Longer and Presentation Meetings 55% Longer than Average Performers

Emails with a Single Call-to-Action Increased Sales 1617%

81% of Shoppers Research their Product Online before Purchasing

The Power of Collaborative Language in Sales: Why Using “We” and “Us” is More Effective

Using a CRM to track sales is standard practice for 79% of sales reps

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