If you are not actively using referrals as a strategy and a tactic to increase sales to your bottom line, you are potentially missing thousands of dollars in new revenue.


Business referrals are much like the game of baseball where you pitch and catch.

Did you know that business referrals are the source of 80% of all new sales, according to past and current market research?

What continually amazes me as a business consultant and sales coach these past 10 years, is the number of small business owners and even C Level executives who fail to leverage this untapped revenue resource.

Possibly, the following tips may help you to change your current business results and catapult sales to new levels of success.

7 Methods For Increasing Sales With Referrals

1. Revisit all clients (current and old) and ask for a referral. When was the last time you asked a former client or a new client for a referral?

2. When meeting new prospects or even suspects, upon the end of your conversation ask the
following: “Do you know of anyone who might benefit from my services or products?” Asking is a powerful tactic to increase sales.

3. Incorporate asking for 3 solid referrals within your proposal or statement of work.

4. Establishing a process for consistency securing new referrals from satisfied and loyal clients is truly a “no brainer”. Referrals are part of the Law of Attraction and the Law of Abundance.

5. Meet with other members of your networking groups or strategic alliances and learn more about them so that you can “pitch” their services or products if and when appropriate. Referrals are not a one-way street. You must also think of others with whom you have established business relationships.

6. Always use the referred person’s name (with permission) when contacting a referral. By using the name of the referral source takes a cold call to a warm call. Update the referring individual as to the progress of the referral. By keeping the referring individual aware of the progress shows that you are a person of high integrity.

7. Establish a monitoring system for all pitches and catches so that you can determine if your catches (closed deals) land in your glove or end up being a runaway (lost deal). Keeping track of your referrals is necessary so that you not only acknowledge the referral source but can determine the source of all new sales. Measuring your activity allows you to work smarter not harder.

If you are not actively using referrals as a strategy and a tactic to increase sales to your bottom line, you are potentially missing thousands of dollars in new revenue.

And after all, business is all about revenue, no ifs, no buts, and no maybes.

About the author

Leanne Hoagland-Smith

Leanne Hoagland-Smith

Leanne Hoagland-Smith has over 25 years in sales. Her true joy is selling and…

Online Courses

Learn anywhere, any time, on any device.

Explore

Learn Online

Self-paced courses from the
world's top sales experts

Virtual Training

Live, interactive instruction in small
groups with master trainers

Coaching

One-to-one personalized coaching
focused on your unique situation