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Strategy 11: Referrals in Marketing - Maximizing Company Referrals

Virtually every company knows that a referral is a layup in the selling process and we all do the very best we can to promote them. In this best practice area we discuss the methods, some new and some tried and true – to develop more referrals in your company. Referrals close at or above 85% on average, at a a higher average ticket, and with more customer satisfaction so it’s no big secret why we love them. 25% of all leads should be from referrals or greater as a percentage of your business, so not only should we track that figure, it helps us lower our marketing expense, builds our on-line reputation, and makes the company profitability that much stronger by increasing our gross profit dollars since referrals buy a higher quality system as a rule.