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Create and improve your referral program for sales lead generation

Are you strengthening your referral program for the right reasons? If not, it’s time to remodel your sales lead generation technique by creating a robust referral network.

Marketing through referrals serves as a natural filter to find your target market. As a result, referral clients will be more likely to buy from you, and you’ll be able to close sales more quickly than before.

A referral program, comparable to word-of-mouth recommendation, tries to actively leverage client engagement and drive referrals through a plan of encouragement and reward. As a result, 84% of B2B buyers now start the buying process with a reference, while peer recommendations influence more than 90% of all B2B purchasing decisions (source).

Let’s see how it works for the sales lead generation plan

Why Should You Strengthen Your Referral Program?

According to the survey, 86% of B2B businesses with structured referral programs saw an increase in income over the previous two years, compared to only 75% of businesses without them (source).

Referrals typically are high-quality leads and convert at a higher percentage than other channels because of this. Besides sales lead generation, you should strengthen your referral strategy for other crucial reasons that include:

Better customer retention rate
More promising brand exposure
Increased trust with clients

How To Create A Referral Network

Every referral program requires an internal design to meet your business’s requirements. Here are the ways to create a powerful referral network.

Ask for a recommendation

Most companies just ask for a recommendation! It’s as simple as that! A referral can be requested in several ways:

When you render them a service verbally,
Include a referral request in your email signature,
Utilize social networks, particularly LinkedIn.

Moreover, don’t hesitate to ask your clients for reviews.

Go through your online reviews

Reviews serve more than just product or service feedback, helping in sales lead generation. So go through your social media and Google reviews. Also, never forget to express gratitude when someone does give you a positive online review.

Provide a satisfying customer service experience

If you’ve helped customers grow their business through better customer service, they’ll be ready to share that achievement with their coworkers or friends. You might not even need to ask. Your best clients may be your “unpaid” marketing personnel.

Build a give-and-take strategy

Your clients’ businesses will benefit from referrals, and they will probably return the favor. So, it’s a give-and-take policy that will lead you to have high-quality leads. Try to recommend the best clients to others. In short, give a referral to get a referral!

Make it visible

Since having a referral program is a part of marketing strategy, develop ways to make it visible to your clients. For example, you may display a button for your sales lead generation campaign on your website so you can direct them there during phone calls.

Improve Your Referral Program

If you already have a referral network, how effective is that? Is it the improved version or the same old program? Invest some time to upgrade your existing sales lead generation referral program.

Streamline the process

Asking for referrals is a significant favour since clients must take time out of their busy schedules to help your business attract new leads. So, streamline the process for them to avoid complexity.

For instance,

In the emails you may send to clients, include a link that says, “Recommend us to a Friend.”
Create a template and share it via email. You should format the email so the client can either copy and paste it or simply forward it.
Develop a referral system

This method is a relationship promoter. You can set up a system to monitor and manage referrals. Ask new clients how they heard about you, and then get in touch with the person who referred them. Remember to express gratitude to the source of the referral when the referral turns into a new client.

To enhance your sales lead generation efforts, consider leveraging services like Klean Leads, which can provide valuable solutions to create and improve your referral program, ultimately boosting your business growth.

Focus on mutual benefits

Make sure the deal is win-win and that you can repay the person who referred you with something good and helpful. Additionally, ensure the incentive is substantial if you offer one to those who recommend you to other potential clients. The program must benefit both parties.

Wrapping up, your website can receive many more leads if you have a referral program that encourages clients and contacts to recommend your company to their contacts, helping to fill the sales pipeline with new sales leads. Your clients will be empowered to market your products and services on your behalf.

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