That’s one of the beauties of referrals - they’re easy to measure. This helps salespeople and sales leaders track progress and monitor success. When the metrics are known, it eliminates lofty generalizations like, "Things are going great!" When everybody knows what’s being watched, it sets expectations, defines goals and creates accountability. You can’t fudge the results.
A client once exclaimed, "Referrals are like a money machine!" He’s right! The only time referrals don’t work is when somebody foolishly chooses not to use them.
Potential referral metrics, (daily, weekly or monthly) can include:
- Number of prospects, customers or clients asked for referrals
- Number of referrals received
- Number of referrals contacted
- Number of referrals interviewed
- Amount of referral dollars in pipeline
- Dollar volume generated from referrals
Are there more metrics? Of course. Yet the preceding will start you on your path to profit. Remember, there’s a significant difference — between good intentions and successful execution. You’re compensated for results. Make it a pleasure to measure!
And…Remember to R.E.M.E.M.B.E.R.!
Referrals
Every
Moment
Every
Month
Bring
Excellent
Results
