Are Business Networking Referrals Critical Business Strategies Within Your Strategic Plan?
Are Business Networking Referrals Critical Business Strategies Within Your Strategic Plan?
Networking is defined by Lillian Bjorseth as “mutually beneficial relationships.” This definition suggests that in networking both parties enter into the relationship for mutually gain.
Business referrals are word of mouth (WOM) testimonies for your business credibility, business ethics and business experience that turn cold calls into warm if not hot calls. HINT: Referrals increase sales to close ratio and make the overall sales process much easier.
Since ongoing research continues to suggest that referrals account for 80% of all new business sales, then becoming proactive in giving referrals as well as receiving your own referrals is paramount to your business success. These questions may help you to begin to better understand the impact of referrals within your strategic plan.
1. Do I have a process in place from which to monitor my referrals?
2. Do I know how much of my business is from referrals?
3. Do I use my website as a referral source?
4. Do I have a process in place from which to acknowledge referrals received?
5. Do I have a process in place from which to actively ask for referrals?
6. If I answered Yes to all the above 5 questions, would my business sales increase?
So what are you waiting for?
If you are not actively using referrals as a business strategy to increase sales for your business, then you are missing incredible opportunities to make the current month, quarter and year the best ever for you. Run, do not walk back to your strategic plan and make those necessary course corrections to include this proven action to secure even greater business results.
P.S. Recent reports by BIG Research and Keller Fay Group verified the impact of WOM as being the primary action guiding the purchase of products and services. People still want to look someone in the eye before they buy.
Are Business Networking Referrals Critical Business Strategies Within Your Strategic Plan - To learn more about this author, visit Leanne Hoagland-Smith's Website.
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Business networking referrals are a proven business strategy to increase sales or results for any organization. Just look to the expansion of formal networking group such as Leads, BNI to Rainmakers. To better understand this important business strategy requires defining both networking and referrals.
Networking is defined by Lillian Bjorseth as “mutually beneficial relationships.” This definition suggests that in networking both parties enter into the relationship for mutually gain.
Business referrals are word of mouth (WOM) testimonies for your business credibility, business ethics and business experience that turn cold calls into warm if not hot calls. HINT: Referrals increase sales to close ratio and make the overall sales process much easier.
Since ongoing research continues to suggest that referrals account for 80% of all new business sales, then becoming proactive in giving referrals as well as receiving your own referrals is paramount to your business success. These questions may help you to begin to better understand the impact of referrals within your strategic plan.
1. Do I have a process in place from which to monitor my referrals?
2. Do I know how much of my business is from referrals?
3. Do I use my website as a referral source?
4. Do I have a process in place from which to acknowledge referrals received?
5. Do I have a process in place from which to actively ask for referrals?
6. If I answered Yes to all the above 5 questions, would my business sales increase?
So what are you waiting for?
If you are not actively using referrals as a business strategy to increase sales for your business, then you are missing incredible opportunities to make the current month, quarter and year the best ever for you. Run, do not walk back to your strategic plan and make those necessary course corrections to include this proven action to secure even greater business results.
P.S. Recent reports by BIG Research and Keller Fay Group verified the impact of WOM as being the primary action guiding the purchase of products and services. People still want to look someone in the eye before they buy.
Are Business Networking Referrals Critical Business Strategies Within Your Strategic Plan - To learn more about this author, visit Leanne Hoagland-Smith's Website.
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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