Referrals are one of the most valuable sources of leads. When crafting a marketing strategy don’t forget the importance of word of mouth marketing. A good reputation, professionalism, and satisfied customers can help drive business. When properly applied referrals can account for roughly 40 percent of a company’s leads. Referrals can come from many sources. Here are three of the best:

Existing Customers

As noted above satisfied customers are an excellent source of referrals. Many people ask their friends for advice when choosing a company for a good or service and a customer with a positive past experience is likely to offer a recommendation. A company can drive a customer referral program by offering bonuses to existing customers who refer their friends and associates.

Former And Current Business Associates

Many companies have existing relationships with vendors and other B2B companies. As companies that focus on B2B sales often have an industry niche they specialize in they can be a great source on potential customer leads due to working with companies focused on the same (or similar) market segments.

Industry Experts

There are many experts who specialize in specific industries be they reporters, writers, educators, or advisors. An industry expert recommendation is not only knowledgeable but also carries with it a degree of respectability from potential customers.

Thanks PureB2B.com for this infographic.