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Acquiring New Business
The differences between a lead and a referral
I often hear the terms lead and
referral used in the same context when, in fact,
they are two very different things. Both are
used to acquire new business. Yet one far
outweighs the other in its effectiveness in
getting closer to a sale. Entire marketing
campaigns are built around finding new business
using leads. Likewise, sales processes build in
methods for finding new business using
referrals. One method, leads, works off volume
while the other, referrals, works off quality.
So what’s the difference between a lead and a
referral and how should
 a
company and, more importantly, a sales person
take advantage of each? Additionally, why is it
important to distinguish between the two? To
begin with, a lead and a referral should be
treated with different priorities since a
referral is at least one step closer to the
prospect than a lead. In other words, leads are
strangers, referrals could be prospective
customers. If a sales rep receives a lead, he
shouldn’t treat it like a referral. And more
importantly, if he receives a referral, he
shouldn’t treat it like a lead because referrals
have a higher priority than leads. Knowing the
difference between the two is vital to knowing
how each should be handled by a sales person...
Read
More
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Free
Tacos - When Free Isn’t Free
How are you attracting customers to your
business?
I was just invited to a hockey
game by a friend and his wife who own season
tickets for our local team here in Las Vegas,
the Ranglers. What a great time. Lots of action.
High energy. Our home team even won. Good times.
But the thing that struck me as the most
interesting event of the evening was the
promotional offers made by some of the local
food chains.
Our friends told us that during the season, Taco
Bell gives out coupons for a free taco whenever
the home team scores 5 points. Thus far, my
friends only re ceived
these coupons once this season since it seems
rare that they score that many points. The game
we were at had that same promotion from Taco
Bell, along with yet another. This second
promotion was from Sonic, the burger place.
Their deal was as follows – If the Ranglers
score within the Sonic Minute (a random
60-second time-frame selected during the 3rd
period of the game), then everyone in the
stadium would get a coupon for a free Sonic
burger, no purchase necessary...Read
More
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PEAK
Sales Consulting, LLC specializes
in working with businesses to develop and
implement business and sales processes. Our focus
is to help businesses increase sales revenue,
reduce sales cycles, enhance lead flow management,
develop world-class sales teams, and create
customer retention strategies. PEAK Sales
Consulting develops Sales Process and CRM
strategies, provides sales coaching and training,
and offers sales technology solutions.
Visit us at www.PeakSalesConsulting.com
or call us at (702) 655-5652. Our email
address is sales@PeakSalesConsulting.com
and our mailing address
is 8205 Wooden Windmill Court, Las Vegas, NV 89131
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