Do you love referrals? I sure do!
Referrals are already fairly convinced that you will be their provider of choice. Someone else (likely a happy client of yours) has already pitched them about how great you are. The hardest part of the sales process has been handled.
The bottom line is that a referral is already very warm, nay HOT, on you and your offering which makes the sale much more likely. That doesn't mean they won't try to bond with your competitors!
Referrals Still Research You AND Your Competitors
If you rely primarily on referrrals in your business, you might be tempted to make the mistake of thinking you don't need Inbound Marketing services. Why generate leads if they are being referred?
Guess what! Referrals still research your company AND your competitors! A referral focused Inbound Marketing strategy will help you generate that referred lead BEFORE they visit your competitors site.
What's more, you will also have a better chance of capturing the leads that have been referred to your competitors and are now researching you.
Why It's Beneficial To Convert Referrals Into Inbound Leads
As mentioned above, your referrals will research you, but they will also research your competitors BEFORE contacting you directly. That is, unless they are converted into a lead online. That interaction does 3 really great things:
- Makes good on the promise the referring made about how great/helpful you are by delivering valuable content
- Further builds trust in exchange for this lead's contact details
- Gives you an opportunity to personally connect with this lead
Referrals Are Unpredictable
Your pipeline looks great when the referrals are rolling in, but can be a bit scary when they're not! While a strong referral program and strategy can be very effective, it can also leave you high and dry with cold patches.
Because referrals can be so unpredictable, you need a better way to keep the sales pipeline full. Enter Inbound Marketing.
An Inbound Marketing strategy will stabilize your lead flow and make sure you aren't over dependent on referrals.
Every business loves referrals. They are always welcomed! Unfortunately, they tend to still research you and your competitors before they connect and become a real lead.
Using Inbound Marketing, you can shorten the time it takes for referrals to become leads, and even capitalize on people that have been referred to your competitors.