I started in a new role 2 weeks ago. One of the biggest strengths of my new company is - happy customers. In a space that is infamous for low NPS, low retention - we’ve got happy customers who have renewed & grown their business with us over 3 to 10 years.
My biggest challenge is to grow business in a new region (Singapore). One of the channels I’m exploring is customer referrals. Our main stakeholder is the CIO.
What are some examples of successful B2B referral programs? And how have the sales experts here used this channel?
We are testing something similar now. Ask your product team for a list of top former users and get them checked on LinkedIn where they moved on and who they are connected to in regards to your prioritized accounts. Ask marketing to allocate some funds for a thanks you gift. Ask them for referrals, reward and work with warm leads.
Customer referrals are great to help you get warm leads in a new region. Incentives that you could try to offer for successful referrals could be in the form of credits, commission or premium services. In addition to current customers, former customers who were champions or top users like Yulia mentioned are good to reach out to.
@feroz.zaveri. I would caution you on “paying/compensating” customers to be a reference.
To @connie.chang’s point, current customer referrals is a great way to get a warm lead.
There are two ways i would suggest to leverage your network…
(1) connect with your companies customers via LinkedIn. If you find one of your prospects are connected to one of your customers, reach out to the AE who manages the relationship to see if they would be willing to make an introduction.
(2) If you have customers in your new market/region (Singapore) pull together a user group/lunch and learn which should include customers and prospects. People want to learn from peers. You can also do this virtual ( @will.valera.1 ) has had some success with this.
(3) If you have video testimonials, use them in your outreach.
Shameless plug, I am hosting a social prospecting session on Sept 7th. During this session i will show you ways to structure data points you are collecting on your prospects.