Employ best B2B referral program for marketing needs of your brand. Expertise and experience of NextBee helps you to build top B2B referral programs for your business. Get into one-on-one discussion with our dedicated managers at 1-800-547-1618.

1. B2B REFERRAL PROGRAM - A KEY TO BETTER SALES
FORECASTS AND GREATER LEAD VOLUMES

2. In this era of digital marketing, the popularity of Referral Programs and
Referral Strategies has gone sky high. You will agree with the fact that
‘Referrals are the best leads one can get’. Maintaining user trust is the most
vital factor in keeping B2B relationships eternal. However, it requires
thousands of millions of investment, which is why many small and
impecunious business firms fail to live up to the challenge of running an
online campaign to grow their businesses. So, can you think of anything that
what could be the rescue path to this problem? If you are thinking of B2B
Referral Programs and Referral Strategies, you are on the right track.
B2B Referral Programs and Referral Strategies pave the way for keeping
clients happy, who in turn become likely to recommend the products and
services to their peers. However, B2B Referral Programs and Referral
Strategies involve much more. Simply calling or texting your customers and
telling them about referrals does not conclude a referral program. In other
words, depending completely on frontline sales representatives for
generating marketing referrals could turn out to be as useless as the fifth
wheel. Instead, creating an enduring and flawless referral experience for B2B
clients will prove worth in generating high revenue for your company. B2B
Referral Programs have been tested and proven successful in shortening deal
lengths and increasing interaction with leads that are more likely to convert.

3. Statistical Analysis: Why we need B2B Referral Programs and B2B
Referral Strategies?
Statistics show that a referred customer has 16% higher lifetime value
compared to customers acquired via other referral modes. Many business
firms claimed to have four times increase in sales of their products and
services when being referred by a friend. About 71% of the companies
reported higher conversion rates with B2B Referral programs. A statement by
Edelman Trust Barometer showed that 84% of B2B businesses grow via
implementing B2B Referral Programs and B2B referral strategies. These days,
social media has also turned out to be an outstanding platform that helps
leverage your business, considering the common myth ‘Enhance your
business with social media’. A statistical report leaked by the B2B survey
showed dependence of 75% of business clients on social media.
How to get started with B2B Referral Programs and B2B Referral
Strategies?
Below is the list of some of the key points you need to think about before
getting started with B2B Referral Programs and B2B Referral strategies:-
Set your target
Think of the ways you can follow to promote your program
Find out best possible ways to reward referral leads
Think of the ways to reward the referrers
Scaling of the Program

4. Now, what can be done to scale your B2B Referral Program? The immediate
answer that strikes your mind is ‘Automation’. Yes, as we start building the
B2B Referral Program, it becomes utmost important to automate the
complete workflow.
B2B Referral Programs and B2B Referral Strategies help in attaining new
business leads, ensuring brand promotion activities, engaging new business
firms, associates, dealers, employees, customers and partners. This is the
major reason behind the success and unprecedented growth of many
business firms.