How do businesses generate leads?

Customer referrals account for 54% of all B2B leads.

Source
28 Vital B2B Statistics [2023]: Marketing, Sales, and Trends

Topic
Virtual Selling

Year
2022

Customer referrals are an incredibly powerful tool for B2B businesses: around 50% of all lead generation comes from referrals. This shows just how valuable customer referrals can be for B2B companies.

By having a network of satisfied customers who are willing to refer your business to their contacts, you can exponentially increase the reach and effectiveness of your marketing efforts and boost your overall lead generation. Also by leveraging customer referrals, companies can reach more potential customers and build trust with them. This leads to higher conversion rates and more sales.

Additionally, customer referrals are often more cost-effective than other forms of marketing, as they require less time and resources to generate leads. Furthermore, customer referrals are also a great way to build brand loyalty and trust among customers, which can lead to repeat business and long-term relationships.

With the right strategies in place, customer referrals can have a significant impact on your business’s bottom line.

More 2022 Stats

82% of top performers say they “always” perform research before reaching out to prospects, and report higher usage of sales technology across the board.

43% of sales professionals say email is the most effective channel for selling.

44% of salespeople give up after one follow-up call.

In a recent McKinsey study, 61% of survey respondents said that, before the pandemic, they primarily sold their business’ products through traditional in-person sales — that number has since fallen to 29%.

Even with a return to in-person lifestyles, only 20% of B2B buyers say they hope to return to in-person sales.

66% of sales professionals say leads generated from customer referrals are the highest quality leads they work.

73% of B2B executives agree that customers expect more personalization than they did a few years ago.

72 percent of business leaders said that sales tool integrations are essential to retaining business and beating the competition.

71% of sales reps say that building personal rapport has a substantial impact on converting a prospect.

48% of salespeople never even make a single follow up attempt.

More Virtual Selling Stats

According to a research conducted by Salesforce, 61% of sellers say it’s harder to sell virtually.

A survey by LinkedIn found that 50% of buyers say that working remotely has made the purchasing process easier.

71% of sales reps say that building personal rapport has a substantial impact on converting a prospect.

49% of teams are using video as part of their sales process.

59% of sales reps said that adding custom-recorded video to their sales process increased their productivity.

48 hours after a virtual sales call, buyers only retain 10% of what you talked about.

74% of CSOs report they have recently or are currently updating their seller skills profile for virtual selling, and 61% of CSOs are already investing in new technology to enable virtual selling.

According to a Gartner survey, CSOs expect 60% of the sales force will remain operating virtual.

66% of teams were satisfied with the results that they are getting from using custom-recorded video in their sales processes.

91% of salespeople have indicated they don’t want to return to full-time office work when asked about their future career plans.

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