Build your pipeline with referrals from existing customers
“Referral selling has a minimum of a 50 percent conversion rate” – Joanne Black Owner, No More Cold Calling.
When starting to build a pipeline, very few sales teams look to existing customers to source leads. Instead, they often start with buying contact lists, hiring external consultants and going through industry event websites to see if there are any easy leads to pick up on.
While these methods can be very successful, a referral from an existing customer allows you be introduced to a person you want to meet. You will be contacting someone who expects your call and wants to hear from you. This will provide an existing level of trust and pre-qualify the meeting.
“Of all lead generation methods, referrals are the most likely to result in a sale. The reason is simple. The greatest hurdle that every sales pro faces is TRUST.” – Geoffrey James, Author, Sales Source.
Why doesn’t everyone do it?
Few inside sales teams contact their existing customer base for leads. Why? Because asking for a referral can be a hard question to ask and because if you are not the person who is managing the customer it becomes difficult to know the right time to ask. What if the customer hasn’t seen value from your product and service yet? Worse, what if that customer is currently unsatisfied? You could end up annoying them more than anything else.
Timing is critical when asking for referrals
Always be on the lookout for the best time to ask. Did you just get praised via an email? Did somebody just write a tweet or LinkedIn update about your service? If so, that could be the perfect time to ask them for an introduction to somebody who fits your customer profile. The ideal time is often when you have delivered the most value to your customer. But how can an inside sales team be present at that perfect moment?
Sourcing customer referrals with actionable.me
actionable.me helps you bridge the gap between customer success team and your sales team. We do this by enabling customer success teams to add real-time surveys into every email interaction they have with their customers. These surveys are extremely easy to add but most importantly, they are even easier to respond to.
Because you can add them to your everyday email interactions, you have complete control over the timing. This makes it effortless to attach a survey to an email or at the moment when you have deliver the most value to your customer.