Did you know 88 percent of clients are willing to give referrals, but only 8 percent are ever even asked?
Referral-based selling is the biggest secret in the business.
Research shows that customers prefer learning about a company through trustworthy friends and acquaintances, who have experienced it first hand, rather than getting overwhelmed with advertisements and sales calls all day.
Top sales reps take advantage of earning referrals. The more referrals you ask for, the more you get in return.
High Expectations and Trust
After clients refer you to their contacts, high expectations are established.
Referred prospects become more interested about your company and doing business with you because their connection is presumably working together with you. Your potential customer now comes to you with a positive impression already in mind. Thus, making your job easier.
These high expectations from the beginning also resonate with your current customer and reminds them of why they do business with you. When they tell others about your product or service, it affirms what they find valuable in your company.
Faster and Easier
Most sales that start with a referral tend to move faster through the sales process due to the higher level of trust. Your overall sales process flows more efficiently and smoothly.
A higher closing ratio will also be the result of doing referral-based business.
Referrals make your life easier. Think of it this way: your client is now the salesperson, helping you obtain the contact that will then begin the sale process.
Referrals Create Referrals
A client that was obtained through a referral is more likely to give a referral.
Think of it as a snowball effect where the snowball continues to pick up more snow as it rolls down the hill, just with referrals instead. If your clients have a positive experience to begin with, they are then more than likely to communicate to their contacts how your product or service met their needs.
Create a referral lifestyle that will impact your sales faster and more dramatically than any other technique. You’ll see more exponential growth from the river of referrals flowing in.