With the year winding down, most salespeople have the pedal to the metal to crush their sales targets & start building pipelines for 2022. For some, this looks like persistent cold-calling and follow-up emails on follow-up emails. If this sounds familiar – let me remind you of a magnificent tool called referrals.

I’ll admit, at first I was hesitant to ask clients for referrals because I felt it was asking for a favour. I quickly found out that not only is it a lot less daunting than it may seem, but most people are actually happy to provide a referral (bonus points if you can give them a referral back!).

Over the past few years, I’ve made a concerted effort to ask for referrals. Recently, I completed our yearly analysis & discovered that over 80% of our new business was sourced from referrals!

Still doubting the power of referrals? Here’s the facts:

  • People are 4 times more likely to buy when referred by a friend or colleague.
  • 84% of B2B decision makers start the buying process with a referral.
  • 83% of consumers are willing to refer after a positive experience – yet only 29% actually do.
  • The lifetime value for new referral customers is 16% higher than non-referrals.
  • 87% of frontline salespeople, 82% of sales leaders, and 78% of marketers surveyed agree that referrals are the best leads your business can get.
  • 69% of B2B frontline salespeople, 70% of sales leaders, and 67% of marketers believe that referred leads close faster than other leads.


From the Buyer’s Perspective:

  • 73% of B2B Buyers prefer to work with sales professionals who have been referred to them by someone they know.
  • 76% of B2B executives prefer to work with vendors who have been recommended by someone they know.
  • Having a personal connection with a Buyer (such as through peer recommendation/referrals) makes you 4.2 times more likely to get an appointment.
  • B2B Buyers are 5 times more likely to engage when someone else introduces them to your company.
Source: referralrock.com


Ok, so you’re probably seeing the importance of referrals now, but what next?

Start developing your referral strategy!


Don’t waste your valuable referrals – keep in mind the following traits that sellers need to have, to get and keep a buyer’s attention:

  • Healthy respect for their time; it’s valuable to them and should be to you
  • Ability to lead meetings in an organized and concise manner
  • Tenacity
  • A genuine interest in building relationships with their clients
  • Integrity
  • The insights to ask thought-provoking questions that show understanding of the prospect’s business

Be strategic, be proactive, and be brave when asking for referrals to secure more new business & build a strong pipeline for 2022!