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PROFESSIONAL SALES: Gaining More Referrals

from Chief Marketer

Does your geoprofessional firm have a formal referral program? If not, it should: Companies instituting a formal referral program more than doubled their referral volume and enjoy more sales and lower client-acquisition costs. In fact, more than 70% of surveyed companies with formal referral programs are on pace to meet or exceed their 2015 revenue goals; 69% have experienced faster close time; and 59% reported higher lifetime value. Despite all this, however, only 30% of B2B organizations like yours have a structured referral program. Guidance on this issue takes the form of answers to six questions:
  • What team will own the referral program?
  • Whom will you target?
  • How and when will you reach out?
  • How will you get client representatives thinking about submitting high-quality referrals?
  • What will the process, tools, and referral-submission page look like?
  • How will you reward advocates?
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