Boost Your Sales By Strategically Utilizing Referral Channels
Why would this be necessary? Well, doing so can not only bolster their conversion rate, but result in higher client retention as a result of landing clients that have a more trusting relationship with their vendor right from the start.
Instead of cold calling or relying on a numbers game of soliciting many different potential clients – an approach that no employee will shed a tear for if it’s eliminated – companies can potentially produce far better results by using a warmer, more strategic approach.
Key Method for Growing Business
Jill Konrath, a well-known sales strategist, noted the key importance of referrals, and also provided several tips on how to obtain them, on her website. She cited the input of another key expert, Joanne Black, who runs a company called No More Cold Calling that provides sales strategy consulting services.
"The most effective, productive way to build a business is through referrals," Black insists. "People do business with people and that is built on relationships."
Persistence is Key
Revenue is the lifeblood of companies, and referrals frequently provide these firms with the ability to obtain this vital resource in an efficient and reliable manner – you’d more likely trust a friend of a friend than a complete stranger. Organizations that want to benefit from robust growth should be sure that their desire for obtaining and converting referrals is reflected in every facet of their operations.
For referrals to work, small business owners should focus every day, or at least Monday through Thursday, on both obtaining and leveraging these key resources, Konrath emphasized. She also noted that companies should put continuous effort into developing the skills of their sales force so that they can make the most of these key resources.
Give Them Reason to Refer
The emphasis that a small company places on making the most of these resources will not be particularly helpful unless the firm is reliable and does what it commits to doing, Mary Flaherty, who serves as the director of Content Strategy & Development, noted in a RainToday blog post. Just like the rest of life, commitment is key, so treat these referrals like your best friend.
Integrity is crucial, meaning that companies must not only provide a strong value, but also make sure they do what they say they would. Otherwise, what would the client or network contact be referring?
Sales Reps Must Not Fear ‘No’
Konrath noted that obtaining a referral all begins with asking for it. She emphasized that sales representatives must overcome their fears of asking for help in this manner – Wayne Gretzky once said you miss 100 percent of the shots you don’t take. People frequently enjoy helping out, and will refer people they know to others that might be interested.