Your sales team is missing out. The top 3 lead sources for any B2B business should be:
Existing customers (55% of revenue)
Referrals (29% of revenue)
What in my industry we call 'coat tailing' (12%) - following customers when they change jobs.
If you don't know your top lead sources, that's a first call to action for you. But if you do, and you're not getting the volume of referrals that keeps your sales team busy and the pipeline full of quality leads, then you must ask yourself why not.
If you haven't issued your team with a call to action, to concentrate on referrals, maybe you should.
If you haven't equipped your team with a systematic approach to asking for referrals, maybe you should.
If your team aren't getting the volume you want even with those two things in place, is it the way they are asking that is at fault, their incentives for doing so, or how you keep them accountable?
14/03/25
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Thomas Coles