Most salespeople know to ask their satisfied buyers for referrals. But researchers from The Wharton School and others suggest there's another type of referral that most don't ask for - and it's one that can open doors to many new prospects.
Research shows that referrals are as much as 180 times more likely to close than cold contacts. Yet only 11 percent of salespeople actually ask for a referral, mainly because they think the “cost of helping” is too high. A study shows why this is wrong, and why potential referrers are for more willing to help than you might expect.
No matter how much you ask for referrals, customers rarely give you a name. So is it even worth the effort? A study says yes. Learn why you may be underestimating the value of asking for referrals, a key reason why referral efforts fail, and which types of customers are most likely to give you a referral.
A study led by researchers from three major U.S. universities examined situations where customers were most generous about providing referrals. Learn how the results shed a surprising new light on conventional sales wisdom.
