Published July 5, 2022
Are you looking for higher-quality customers that will make you increase your close sales rate? Use this simple referral sales system to grow your business today.
Existing customers are one of the most valuable sources of quality leads. While everyone agrees, not all companies can do referral sales effectively.
This can be your #1 source of effective leads that can turn into massive sales growth – if you do it right.
Where to get referrals?
Your existing customers are the best people to ask for referrals. Ask your current customers to refer you and your product to another company, their friends, colleagues, etc.
Why are referrals important?
Referrals are considered quality leads. This will get you directly to the decision-makers or influencers. Consider the 2 levels of quality:
- Your existing customers most likely know others who run similar businesses or needs, which means they are highly qualified leads for you and your company.
- You are being introduced to a friend who is most likely in need of your product/services and so you have the benefit of trust from the start of the relationship.
When to ask for referrals?
As most salespeople are scared to ask existing customers for referrals because they worry that they will create a negative impact on their customers, they are still the best people to ask for such. So when do you think is the best time to ask for referrals? The answer is, right after you closed a deal!
Do not be afraid, go where others fail and win that opportunity!
How to ask for referrals?
As mentioned earlier on, the best people to ask for referrals are your existing customers. Here are some scripts that you can use when asking for referrals. Referral Scripts
What will you do right after closing a referral?
Soon as you get somebody to buy your product, contact your existing customer who made the referral. Call or send him a thank you email for the connection made to his friend and let him know that you have closed the deal and provide him feedback on how his referral managed to address their company challenges because of the connection made.
This will inspire your existing customer to make more referrals.
All salespeople want to make successful connections and be able to help others with something that they will be grateful for. Treat your referrals as a valuable opportunity then you will see successful growth from your outbound leads.