#announcements

I don't have numbers to help back this but I wouldn't say this is true in our experience... We're a B2B company and noticed that our target industry all talked to each other and those referrals were happening organically. We wanted to validate a bit so we simply added a "How did you hear about us? (Customer Referral, Event, Email, Search Engine)" question on our speak to an expert form to get a baseline/help build a business case why referrals would make sense.

i don’t have any hard data to share on this either, but both of those statements are inaccurate in my experience. the company i work for is both B2B and B2C, and we have done reference calls for B2B and have had successful conversion rates on six-figure deals. the “10,000 customers to generate 1 referral” seems a bit far-fetched IMO (surely happy customers willing to speak with a prospect is more than 0.01%?)

Thanks for your perspective here! Just to be clear, I'm asking about referrals (actually sending us another prospect who becomes a customer), not reference calls

ahh, i see. we have implemented a referral program at our company as well for the B2B segment of our business. for context: we have a lot of agencies that use our platform, and we launched a small-scale referral program where they encourage their clients to purchase our software. it is still quite early stages, so it is hard to speak to ROI or ability to scale (it’s pretty high-touch right now), but for what it’s worth, our agency community is definitely <10,000 and has definitely helped close B2B deals