In the world of marketing, referrals are a powerful tool. Rather than waiting for them to come to you, take a proactive approach and actively seek referrals from every client and contact you've had. A recent survey revealed an insightful statistic: when asked why they chose their current marketing agency, the second most common response was "The agency was recommended to us." Take a moment to reflect on what this means for your own business and how clients decide to work with you.
It's not just about having a polished website, an active presence on LinkedIn, or a flashy YouTube or Instagram account. People tend to trust "safe bets." If Barry at Company X has worked with you and had a positive experience, make sure you leverage that relationship to its fullest and ask for referrals.
In the realm of cold outreach, the 20% rule is often discussed, which highlights the fact that around 80% of business is typically retained by incumbent agencies or secured through referrals. So why place yourself at the margins of this equation?
Being introduced to a new potential client removes the "cold" label from your name. Instead, you become the agency that’s "highly recommended" by someone they trust. This shift in perception can have a profound impact on how you're viewed, significantly improving your chances of securing new business.
It’s time to step outside your comfort zone and start asking for referrals from both current and past clients. If you can’t confidently say, “I’ve just asked for a referral,” then it’s clear that you’re not fully capitalising on this valuable avenue.
Take action today and make referrals a priority. Harness the power of recommendations and watch your business flourish.