Asking for referrals does more than generate leads

My first post at the Revenue Roundtable...

When was the last time you talked to your customers and asked how they were doing? A recent article in the Harvard Business Review, “The One Number You Need to Grow” by Frederick F. Reichheld asks, “Would you recommend our products or services to a business peer?”

It was confirmed after two-years of research that the answer to this single question is the number one indicator and correlated directly to growth rates. I submit that if you are not asking and getting the answer to this question, you could be generating word of mouth, but not the good kind.

Reichheld’s research shows us that people put their personal reputations on the line when they act as a reference or make a recommendation to someone else. When your customer’s act as good references, they show that they have received value from your company.

For the complex sale you need these enthusiastic references to help you build your reputation, differentiate yourself, demonstrate your value proposition, shorten your sales cycle, and drive revenue.

Get the HBR article at:
http://harvardbusinessonline.hbsp.harvard.edu