Prospecting for new leads can be a thankless task. According to research from TOPO, call back rates are south of 1%, and only 24% of emails are ever opened. That’s why it’s so important for sales development reps (SDRs) to use every tool at their disposal to connect with new leads. Here at Revenue.io, we offer sales acceleration tools that can dramatically increase call connection rates. But once you get a lead on the phone, then what? How do you keep the lead on the phone. Realistically, you only have a short amount of time to establish credibility. One of the very best ways to increase your prospecting success is by using referrals.
Research continues to surface validating the power of referrals. For instance, an entire section of OpenView’s fantastic infographic The Power of Proactive Prospecting is devoted to revealing just how effective referrals are during the prospecting process.
Here are 6 tweet-worthy stats from the infographic, proving the game-changing affect that using referrals can have on your prospecting efforts!
1. B2B buyers are 5X more likely to engage when introduced. (Source: LinkedIn) <<Tweet this stat!
2. 73% of executives prefer to work with somebody they know. (Source: Sales Benchmark Index) <<Tweet this stat!
3. 84% of B2B decision makers start the buying process with a referral. (Source: IDC) <<Tweet this stat!
4. You are 4.2 times more likely to get an appointment if you have a personal connection with a buyer. (Source: Sales Benchmark Index) <<Tweet this stat!
5. Referral leads convert 30% better than leads that are generated from all other marketing channels. (Source: R&G Technologies) <<Tweet this stat!
6. Referred customers have a 16% higher lifetime value. (Source: Journal of Marketing) <<Tweet this stat!
Looking for more prospecting tips, check out our on-demand webinar How to Close Bigger Deals.
Jesse WestDirector of Lifecycle MarketingRevenue.io
Jesse Davis West is Director of Lifecycle Marketing at Revenue.io, focusing on improving the experience and maximizing the lifetime value for customers across their entire journey. Drawing on 11 years of B2B marketing experience, Jesse is passionate about communication, branding and strategic marketing. He also plays a mean lead guitar and can throw down at karaoke.