The Coronavirus crisis forces every company to do more with less. Surviving during the looming recession means cutting marketing budgets and looking for creative ways to reach prospects and target customers.
It’s intriguing to think about why companies with a broad base of satisfied customers and highly connected employees hardly get any business referrals. It doesn’t make sense. You’d think that companies would be able to leverage their huge customer base. But that’s not how it works.
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.
Relationship capital plays a major role in business success. Effective sales executives, marketers, and entrepreneurs, all understand that warm introductions and referrals are necessary to their business success. Without a healthy flow of business introductions, companies will have a hard time raising capital, securing strategic and enterprise clients, and attracting leading partners.