Building A Referral Network For Your Business [Infographic]

In today’s business environment where companies collaborate with each other in order to fuel growth, it’s vital for businesses to have an effective referral network in place optimized to deliver results. While referral network might sound like an old tactic, it is still one of the most effective ways to acquire new clients today. In fact, statistics states that prospecting activities is 80% more likely to turn into a business when you are personally introduced by your connection to a prospect!

There are a lot of reasons why referral networks are a must for every company who want to augment its leads or boost its sales. First, it helps establish trust between you and your prospects. A referred lead is much better than cold lead because your service was referred to them by someone they already trust. It also the shortens sales cycle, thus saving you a lot of time and resources pursuing new customers.

If you want to learn how to build a referral network for your business, check out the infographic below from Business Coaches Sydney.

Business networking is key for continued operation. Today your business network has to expand beyond your industry. Did this infographic help you figure out how referral networks can work out for you? Leave us your thoughts in the comments below. Share and post this infographic within your network too!