“The greatest form of flattery is a referral.”
There are many different marketing and sales tactics out there, but one thing everyone can agree on is that referrals are the most valuable form of marketing. Centered on trust, referrals have been shown to have the highest return on investment (ROI), the shortest amount of time to close a sale AND the highest lifetime value. Today, a company’s greatest lead conversion source has the scarcest availability... until SalesGig.
Referrals are essential to sustain business growth. If you still aren’t sure, here are a few reasons why:
There are many lead-generation methods and companies out there who promise the world but don’t really deliver. And man, do they have a hefty price tag! Your cost per lead (CPL) is determined by what you’re spending on marketing and advertising divided by how many leads you’ve generated. So, how great of a return on investment are you making?
According to Forbes, 54% of marketers say that referrals have the lowest cost per lead compared to all other channels.
To learn more about calculating the value of a lead, check out our blog The Value of a Lead: How to Calculate What You Should Pay.
Have you ever sat through a timeshare brief? If you have and you didn’t buy, then good for you! In this scenario, they are spending 2-3 hours persuading you on the benefits, but they are usually a stranger, and you have no reason to trust them yet. You know they are there for a commission and they might say just about anything to get your money.
A referral from someone you know and trust (like a friend or someone you’ve worked with before) is instinctively taken much more seriously than other sales methods. How often do we take advice from friends and family who suggest trying new restaurants or shops? What about recommendations on doctors, handymen, or other services? Studies have shown that sales close 66% faster because they are built on that pre-existing trust.
Referrals transform lead generation from linear (one potential customer at a time) to exponential growth. A sales professional introduces you to a company who is pleased with your product or service, establishes a connection, then refers you to another company (or two or three) with a similar need. Often times, those customers refer you out to others, ushering in that exponential growth possibility. Referrals typically beget referrals.
SalesGig understands just how important referrals are to businesses. Our platform connects sales professionals with companies to simplify lead generation and create a sustainable ecosystem of referrals. There are limitless opportunities waiting for you with exponential growth and zero risk. It’s free and easy to sign up with no contracts and no obligations. Find your next referral partner on SalesGig today.
SalesGig creates seamless lead generation with limitless opportunities by connecting companies with referral partners. Sign up today and get connected.
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