Growing a small business is quite tough, especially when it comes to marketing and sales. The sales function is quite time consuming with the need to fill sales funnel with qualified and fresh prospects. Finding best leads for your business doesn’t come from a cold contact situation but building a strong referral business.
Referral marketing reduces sales cycle and sales expense. With lesser cold calling prospects, your business can focus on customers and their influential circle.
Referrals can build your satisfied customers. The cycle self-perpetuates with more satisfied customers referring other people to your company.
Referrals can increase your sales revenue. According to the world renowned Sales Trainer, Tom Hopkins, your closing ratio for non-qualified leads is 10 percent versus 60 percent close ratio with referred leads.
Business referrals from word of mouth marketing are quite cost-effective and powerful. All you need to create a steady system of referrals is happy customers who share their experiences with others.
Position Your Business:
1): Set a Target
2): Perfect Timing
3): Focus on the Top 20
4): Give and You will Receive
5): Create a Rewards Program
6): Identify the right customers
7): Say Thank You