Nearly all B2B decision makers start their journey with a referral. By nearly all, the Edelman Trust Barometer says 84%. That is significant. This, and other important stats, are shared in an infographic on the Influitive blog titled, "17 B2B Referral Statistics You Should Know (But Probably Don’t)".
Influitive teamed with Heinz marketing to survey North America B2B professionals from sales pros to executives. The results tell us a lot about the impact of B2B referrals on both sales pipeline and revenue growth.
It’s clear that referrals have a higher conversion rate and close faster than deals from other sources. You can see the stats in the infographic plus access the complete report. Even though referral sales are so very valuable it’s surprising a larger percentage of companies don’t have a formal referral program. This study notes only 30% have such a program.
Does your company have a referral program? Do you leverage your advocacy program through to referrals? Share your insights below.