Oct 13, 2023

STC110 How a ‘word of mouth’ sales strategy could be killing your B2B revenue


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 [00:12:00][00:12:26]

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 [00:14:43][00:15:58]

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 [00:09:28][00:09:39]

Key Resources Mentioned in this Episode:

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