He was stunned by the answer:
“I knew they would be quite a bit lower than 100%, but I’ve found that most executives estimate that only somewhere between 0 and 25% of customers are giving them all the business they could. The numbers are even lower for referral sources.”
There are a few reasons for this. Among them is that classic mistakes are often committed when asking for referrals.
Another is that many simply aren’t persistent enough and referrals end up being more of a piecemeal exercise than something methodical and focused.
This is why I recommend that salespeople and armenia telegram data business owners consider developing an in-house referral program.
You have a great story to tell about your company, your products or services, as well as the way you work with customers.
So you owe it to yourself to make sure everyone gets to hear that story.
Referrals often happen when you first provide something of value to your customers.
I saw a great example of this recently when I did a wine tour of Ontario’s Niagara region.
I noticed that many winemakers there were almost as eager to tell me great things about other wines produced in the area as they were about selling the benefits of their own products.
At first, I found this a bit odd. I mean why would they take time to tell me great things about their competition?