implement strategies to drive referral As technology advances, competition grows, and demand ebbs and flows, service firms are focusing more attention on business development. That said, all too often the primary focus is on attracting new clients. Research by Heinz Marketing in the United States found that, in service firms, up to 84% of purchase […]

implement strategies to drive referral As technology advances, competition grows, and demand ebbs and flows, service firms are focusing more attention on business development. That said, all too often the primary focus is on attracting new clients. Research by Heinz Marketing in the United States found that, in service firms, up to 84% of purchase decisions start with a referral. Further, it was found that – ‘87% of frontline sales reps, 82% of sales leaders, and 78% of marketers surveyed agree that referrals are the best leads your business can get’. Time and again, research has demonstrated that referral is the key to maximising the profitability of a service business and in B2B marketing. However, ver6 few such businesses have a referral strategy. They just let it happen, or not happen, as the case might be. So, what should these businesses be doing? Here are three insights: • A formal…