We recently surveyed more than 3,000 people at BNI.com. We asked the participants what percentage of their business comes from word-of-mouth or referrals.
We found that fewer than 5 percent got no business from referrals, and more than half of the respondents said they got more than 70 percent of their business from word-of-mouth or referrals!
Look at this and another nine surveys on networking at this LINK.
Does this measure up to your experience? I would really like to hear from you as to whether you agree with the majority of the respondents to our survey.
This entry was posted on Monday, August 18th, 2008 at 6:00 am and is filed under BNI, Business, Ivan Misner, Marketing/Sales, Networking, Referrals. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.2 Responses to “What Percentage of Your Business Do You Get From Referrals?”
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August 20th, 2008 at 2:22 pm
Dear Dr. Misner,
Not only does most of my business come as a result of my efforts in BNI, my best business also comes via this method.
Most advertising is “faith based” and so many advertising people will blame bad copy or other flaws in the ad for low/no response rates.
The internet offers the greatest media for testing and analyzing marketing with the proper tools and know-how. This requires lots of resources and skills not common to most small business owners.
Nothing has given me anything close to the ROI of my time and money like BNI and referral marketing has. Nothing.
Regards,
Tom Doiron
Atlanta
August 20th, 2008 at 8:31 pm
Dear Dr.Misner,
In fact many business need a sort of strong referral case. There is a small percentage which do not fit in this segment for various internal dynamics of respective business.
But the process of getting regular and reliable business is only through referrals. Knowingly or un-knowingly people do follow the same process. In fact the eighteen building blocks which gets familiar during BNI MSP is the core and every one in business follow that process. The difference is one cannot identify in which one they are master and in which one they are not. Only after certain analysis and education one understand it.
The gist is clear. Its majority of business through referral coupled with excellent product and services which normally goes without saying in referral transactions.
Regards,
Narendra Damani
BNI Awesome
Bangalore