Referral partners: the power of recommendation

The power of “word of mouth” can be more effective than any large scale marketing campaign. The “word of mouth” transmission of personal experiences and impressions about a brand, product or service plays a decisive role, to the point that today referral programs are an indispensable annex to any awareness or sales strategy.

The word as a business driver

Between the 50 and 91% of all B2B or B2C purchases are influenced by a recommendation. A high-impact suggestion, for example, from a close person or trusted colleague who transmits a relevant message has up to 50 times more likely to generate a purchase rather than a low-impact recommendation.

In the tech universe, 61% of IT buyers report that recommendations from colleagues are the most important factor when making a purchase decision. Top software companies end up getting between 20 and 50% of their new customers from your existing customers.

84% of B2B decision makers they start the buying process with a reference, while companies with referral programs report 71% higher conversion rates. In addition, 59% have customers of greater value across its entire lifecycle and 69% report cycles of Closing faster.

Tools to enhance opportunities

But how can a partner detect a potential quality prospect? How enter into a successful relationship What can lead to a successful conversion? Five tips to make it possible:

‍1. Personalization. Understanding the prospect's particular problem, as well as their pain points, opportunities, preferences, income levels, size or scale of their operation allows us to offer a tailor-made solution, much more relevant than a generic offer.

‍2. Qualified contact. La quality of the leads obtained has a direct impact on the number of closed sales. A qualified lead has the authority to decide the purchase, the budget, and the need to access your solution in the present moment.

‍3. Elevator Pitch. It is essential to be able to make a proposal with an impact on the length of an elevator trip. Clear, concise and brief is the goal to capture attention and to be able to present an idea and its benefits in a minute or less.‍

4. Follow-up. There's a fine line between persistence and insistence, but Monitoring is essential to accompany a sales cycle. If you are unable to establish concrete contact at the first opportunity, it is advisable to distance yourself and try again in a few months.

‍5. Acknowledgement. Once the recommendation process has been closed, it is a positive gesture to recognize and thank them for the trust they have placed in you, as well as Encourage them to do it again. In this way, a lasting relationship is cultivated for future opportunities.

The Benefits of Teamwork

With the main focus placed on value creation and joint business evolution, referral dynamics also involve the generation of a Virtuous Circle where the business partner finds:

‍- Training and support to grow and succeed in a sustained manner over time.

‍- Exclusive features ad hoc that best represent the proposals.‍

- Analysis and updating constant of trends and news.‍

- Transfer of knowledge and experience to build a strong business base.

‍- Relationship consolidation with end customers.

Beyond the valuable contribution of referral partners, there are different types of partners. Estas depend on the role, training and know-how of the person involved, as well as the level of involvement with monitoring and implementation.

‍- Referral Partner. For those professionals with a large portfolio of contacts and the ability to open accounts.

‍- Sales Partner. Designed for companies that, in addition to obtaining new accounts, are involved in the entire sales process and lead it from contact to contract.

‍- Tech Partner. Companies with operational capacity to detect opportunities, sell, implement the project and meet the first levels of support.

‍👉Be part of the inConcert Partner Program and generate income by taking advantage of the world of solutions that we offer you.