STC110 How a 'word of mouth' sales strategy could be killing your B2B revenue
In this episode of Selling to Corporate, Jess shares her thoughts on the limitations of relying solely on inbound leads and word-of-mouth sales strategies. Whilst word-of-mouth and referral strategies are valuable, she highlights the importance of diversifying revenue generation methods to maximise B2B sales and revenue. Jess addresses common misconceptions about inbound leads and offers insights into why a well-rounded sales approach is crucial for sustainable business growth. Inbound leads are not the only method of revenue generation for businesses. It's important to have a diverse range of lead generation avenues. [00:06:27] Relying solely on word-of-mouth strategies can be detrimental to B2B revenue. While word-of-mouth is valuable, it should not be the only source for generating revenue. [00:09:28] Having a strong referral strategy is important for every business owner, regardless of the size of the business. Word-of-mouth can be a valid part of the business, but it should be supplemented with other revenue generation methods. [00:09:28] In this episode I’m sharing; - Misconception that inbound leads are the holy grail of business building - The need for a balanced approach to lead generation and revenue - Emphasis on having a referral strategy - Importance of having thoughtful conversations on LinkedIn Key Quotes; If we're always relying on word-of-mouth, business or generating business by referrals or inbound leads, we can develop really, really bad habits around questioning on calls and proposal writing and creating offers that actually meet the need for the client because we can get so close to those clients that we forget to ask the key questions. — Jess Lorimer 00:12:0000:12:26 The Value of Building Relationships and Asking the Right Questions: "Because familiarity often breeds this false sense of security. And when we're not doing the right things, when we're not asking the right questions, we're not getting the right information to create the best solution." — Jess Lorimer 00:14:4300:15:58 The Importance of Diversifying Revenue Streams: "And it is very, very important that we all remember that it is not the only method of lead, add revenue generation and that it shouldn't be the one that is solely relied upon." — Jess Lorimer 00:09:2800:09:39 Key Resources Mentioned in this Episode: Converting Corporates is back and it’s going to be bigger and better! If you want to attend the event in March 2024 make sure you check out our Converting Corporates events page by visiting here. Join The C Suite ® Self Study now! If you’re looking to get the best support in selling your services to corporate organisations, not to mention email templates and proposal outlines so that you really can convert at much higher rates and sell your services more successfully then click here now. Take the Selling to Corporate ® offer quiz and find out what the best offer is that you could sell to corporate. Sign up here for the webinar on Five Simple Steps to Landing Corporate Clients. Top 5 Business Development Questions: If you’re looking to convert more business development calls into sales? You need to be asking the right questions and getting the best information to support future work. Download my Top 5 BDQs here and start getting quality information from your prospects. Connect with me on LinkedIn. If you've been consuming the content and LOVE the show, please make sure you take five minutes out of your day to leave a review. Click here if you would like to listen to my recent TEDx talk.