B2B Referral Program Optimization
When organizations – of all shapes and sizes – initially try their hand at managing a referral program, it is common for them to find it is falling short of initial expectations. After all, developing and managing a B2B referral program is a unique discipline.
But there is good news: Everything you’ve done to build and roll out a referral program provides valuable lessons that can be applied so as to optimize results.
How We Optimize Your Referral Program
If you’re still unsure of the benefits of having a referral strategy, just check out this sample of the quantitative “proof points” demonstrating the positive impact of B2B referrals and B2B referral programs – across industries:
We thoroughly examine your current (and previous) referral initiatives to see why they are falling short of your expectations.
We deliver to you referral-specific analysis – and overall program analysis – along with actionable recommendations that will ensure your referral initiatives produce the sales revenues you need.
Among the areas we review and analyze are the following:
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Your original expectations/revenue targets for referral sources
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Your process for choosing referral sources
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Your processes for onboarding referral sources
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Your processes, materials, and budgets for supporting referral sources
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Who you expected to refer business to you and why
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Who is actually referring business to you and why
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The kind of business that is currently (and historically) referred to you and how that differs from the kind of referred business you want
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Who is delivering referrals that fall outside of your ideal client profile, and why
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How you leverage referrals throughout your Sales, Marketing, and Business Development programs
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How you track your referred business
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Your processes for course-correcting referral sources
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How your referral initiatives compare with those of your top three competitors
What Your Optimization Plan Will Include
In addition to the analysis of your current referral program, your optimization plan will identify:
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The elements of your program that need to be improved so as to help you achieve your sales targets
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A prioritized list of program elements that, when improved, will give you the “biggest bang for the buck” – based on your timeline, budgets, and sales targets
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Recommended improvements and actionable steps – based on your timeline, budgets, and sales targets
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Any risks you will face when rolling out program improvements
We also develop referral strategy, roll out referral strategies, – and train your in-house colleagues to build, manage, or hone any part(s) of a referral strategy.
