I was reading a report this week on the sources of our June 2010 new clients. The leading source of new clients, accounting for 50% (that's right half) of our new business, was labeled as referrals.
Referrals beat out these other new client categories by a wide margin.
1. Return customers
2. Purchased leads
3. Trade show leads
4. Delivra's incentive referral program
5. Website leads
6. Cold calls by our sales force, and
7. Call ins
Now it doesn't take a rocket scientist to conclude that if you could come up with a process to generate referrals (without asking) a business could double its growth from new customers.
Do I have your attention? Good. Here is what you need to do.
Buy the book, The Referral Engine, by John Jantsch. Seth Godin says, "This book will pay for itself in one day."
If you're looking for a silver bullet save your money. This book is about the transformation of your entire organization into a referral generating engine. Examples of how companies have done it abound in the text.
Delivra has adopted many of the suggestions presented but we have a long way to go. What if we could get 100% of our new business from referrals? Hmmm...
Neil Berman | President & CEO
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