Author: Orly Mager
As sales people we love getting referral leads from our customers, colleagues or executive team. When we get referral opportunities, we can’t wait to jump on those calls. Referrals present a warm welcome and a real opportunity to be heard, avoiding the long prospecting process.
The problem is that referrals are rare, and they don’t come as often as we would like. What if you could transform your leads into referral leads? What if your calls could start with a warm recommendation?
Research clearly indicates that referral is by far the top acquisition channel for conversion rate. Marketo statistics* indicate that conversion rates for many channels are below 2%, while referral leads convert at over 10%. The more you invest in referral leads, you’ll be on a faster track to live up to your KPIs. Invest where you have significantly better chances to gain happy customers. The concept is straight forward, but only few B2B companies can attribute substantial growth to successful referral initiatives.
The reality is that most B2B companies struggle with referrals, despite having a great customer base. They struggle because they lack the right tools and technology that are necessary for sourcing paths from motivated referrals to key targets. To significantly increase referral leads, companies can’t rely on rewards, or limit referrals to their client base. Companies must propel this process by adopting innovative tools that can connect all trusted referrals from their corporate & personal collective network to target accounts and key individuals.
If you wonder why you need innovative tools for referrals, try to answer the following question, next time you get a great lead that is unresponsive. Can you tell if someone from your collective network is connected to your unresponsive lead? Despite being socially connected, we have no idea if one of our customers, partners, colleagues or team members are connected to one of our prospects. We can’t manually scan all their social connections, and even if we had the time, we can’t tell whether it’s a ‘real’ connection or just a mere social connection. To answer that question, you need an innovative referral intelligence solution.
With innovative referral solutions like Referral-AI, sales teams can benefit from their collective corporate network and discover trusted referrals to prospects not just from happy customers, but also from their entire network of motivated allies (e.g., partners, colleagues, investors, executives). Referral-AI uses sophisticated, patent-pending machine learning algorithms to analyze dozens of data sources looking for best referral paths to any prospect, company. The end result is a qualified list of suggested paths, so you can choose the right referral path to your lead.
Referral-AI uses a proactive approach to referrals. There’s no need to wait and hope to get referrals. Referral-AI enables you to take unresponsive leads and turn them into referral leads with the highest conversion rate. Imagine increasing your conversion rate by 2-10X — how would that affect your business?
Contact Referral-AI today to start your free trial, and see your conversion rate soar!