Entrepreneurs always want to have a bigger sales team (and hire more people in general) but the little budget birdie on your shoulder always says no.
However, there could be a way to boost your sales team by turning your existing clients into referrals machines.
It won’t work for every company (or particularly every product or service) but a program where you formally incentivise clients for referrals can be very effective.
Tell clients up front, explain the reasoning and give it a try.
The incentives might be small (gift cards, movie tickets or hampers) or it might be bigger (gadgets or cash) depending on the product involved.
You might even take the program to the point where you offer a grand prize for the client that refers the most business your way.
It is of course crucial that every dollar you are spending on referral incentives can produce substantially more in sales – perhaps trailing the program with a few specific clients is a way to test how it might impact cashflow in a positive and negative way.
But it’s worth a try – who wouldn’t like two sales for one?
Get it done – today!