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A Guide to Building a Referral Network for Your SMB

Act!

However, most small and midsize businesses can’t afford expensive advertising campaigns to attract potential clients. That’s precisely what referral networks help you achieve. A strong referral network helps fill your sales pipeline with high-quality leads in your target market who are interested in purchasing from you.

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The Beginner’s Guide to Referral Marketing

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In fact, 84% of B2B decision makers start the buying process with a referral ( source ). Today, we’re taking a deeper look at one of the most effective word-of-mouth marketing strategies: referral marketing. Keep reading and learn everything you need to know about referral marketing! What Is Referral Marketing?

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5 Ways to Leverage Word-of-Mouth Marketing in a Digital Age

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Maybe an advertisement or commercial influenced your decision. In fact, customers are 92% more likely to trust their peers over advertising when it comes to making purchase decisions ( source ). Encourage your customers to create UGC by offering an incentive. Establish a referral program.

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5 Ways to Leverage Word-of-Mouth Marketing in a Digital Age

Zoominfo

Maybe an advertisement or commercial influenced your decision. In fact, customers are 92% more likely to trust their peers over advertising when it comes to making purchase decisions ( source ). Encourage your customers to create UGC by offering an incentive. Establish a referral program.

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B2B Lead Generation: The Ultimate Guide

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All of this culminates in time and money savings to boost your bottom line and more closed sales to boost revenue. Business development managers (BDMs ) or account executives (AEs) act on useful leads from the SDR/BDR team to close the sale through demos, discovery sessions, and follow-up.

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How to Create a Sales Plan: The Ultimate Guide

Hubspot Sales

Your goal should also be closely tied to your high-level business goals; to give you an idea, if the company is trying to move upmarket, your goal might be “Acquire 20 Enterprise logos” rather than “Sell X in new business” (because the former will encourage you to solely chase deals rather than focus on the right type of customers).

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How to Build a Sales Process: The Complete Guide

Nutshell

Your steps may vary based on your industry and how thorough your process needs to be to secure leads, but in general, you’ll want to have strategies for each of these moments in the sales funnel: Prospecting Qualifying Developing rapport Presenting solutions Handling objections Closing the sale Following up 1.