Driving Referral Leads

Do you Benefit from Business by Referral?

Businesses face many of the same challenges and it is no secret that a common frustration is the lack of high quality leads they generate.  Competition is high, buyers are still nervous about the economy and the introduction of the Cloud has many people confused. People just aren’t actively looking to make a change at a high enough rate to satisfy business needs.

So what do we do?

We get creative. We try new things. We reach out in different ways. We market more effectively.

The world changes rapidly, and we know that some of the tactics we used yesterday simply won’t work today. However, there are some approaches to generating leads that remain highly effective over the course of time and one of those approaches is to continually ask for business by referrals.

A lead that is referred to you specifically by someone is one of the most valuable leads around. Referrals come warmed up with some knowledge of your business and an inherent level of trust. Making a connection between something one person sells and another person needs is the essence of marketing, and with a personal referral, that connection is easier to draw.

Referral leads are also cheap leads. Let’s be honest, marketing can get expensive; anywhere you can save a few dollars is good. With referrals, someone else is doing the work for you and there is almost no financial investment on your part. Sure you still have to make the sale, but the lead was warmed up and handed over to you personally, and at no cost. There is nothing better than a free lead.

Some companies run entire practices off their referral business, while others supplement their weak pipelines when the can, yet many completely ignore this potential field of opportunity for fear of asking, or by simply ignoring referrals as a valid and viable lead source.

So what type of business are you? Are you capitalizing on all the relationships you’ve built, and actively asking customers, peers and associates for the referral? Or are you sitting there waiting, and hoping it just happens on its own?

– Software Delivered as Promised. No Surprises.

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Insight written by Leokadia Rucinski

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