In an industry as competitive and ever changing as business telecommunications, you can’t invest too heavily in just generating new leads.
Instead, your telecom sales team needs to be equally, if not more, focused on closing new leads into retained customers before your competitors steal those business opportunities.
As for leads your sales team will work with once current prospects are closed, look to business referrals.
Your team needs to be able to successfully turns leads into lifetime customers and customers into a valuable mine of referrals – without wasting time on lead generation. Here are some guiding principles to help you establish and build those business referral connections in your telecom sales process.
Why You Should Prioritize Referrals Over Other Leads
Every telecom sales team tacitly understands that referral selling is by far the most effective lead generation and customer retention strategy. Not only are referrals “hot” leads, but they also come with a built-in testimonial for your prospect.
Other benefits of referrals include:
- You bypass the gatekeeper, with easier access to the actual decision maker
- Your referred prospect is already familiar with your ability to deliver results
- You already have a level of trust and credibility with the prospect
- Your referred prospect is more likely to refer your business again
- You have a more qualified lead to work with (requiring fewer leads overall)
- You face less competition overall in order to close the sale
Why You Need To Create A Business Referral Strategy
Despite the clear benefits of referrals, many telecom service providers don’t have a solid referral strategy as part of their lead generation process. In order to leverage this critical element of your sales process, your team needs to develop a written referral-selling strategy, establish periodic referral goals, train on referral-selling skills and track the success of incoming business referrals.
Remember, referrals most often come from satisfied, retained customers. If your customer retention strategy still needs work, you must establish a solid retention strategy before asking current customers for referrals. Once your current customers are content, train your sales team on the perfect timing and approach to ask for a referral.
When it comes to telecom sales, your business needs to be quick to respond to changing trends while maintaining a relationship-oriented sales process. This means solving your prospects’ pains and problems, retaining them as satisfied customers and then leveraging their networks for the right referrals. Create this process, and you will close more deals than ever before.
Start turning your leads into lifetime business telecom customers. Click below to download this whitepaper from Invenio Solutions® and discover how to make – and retain – a loyal sales connection with customers.