Why referrals shouldn’t be the only source of creating new business

By | March 23, 2016


The truth is organizations past the start-up stage generate most of their new business from referrals. This is a strong and stable source of business, and every organization should have a referral program to cultivate these referrals.

However, there is some danger when relying on a referrals as the sole source of new business development. Referrals often lead to the same type of business. The truth is that a healthy business is always evolving and always creating new business. Doing what worked 10 years ago is likely not profitable or desirable now. A strong business need a marketing strategy to bring leads from other sources and help organizations be aware of how the business climate is evolving.

This is where an inbound marketing methodology as part of your marketing strategy will help your business flourish over the long run. Your marketing should be nurturing people along a path so that when they are ready, they think of you.

So if your business is humming along with a steady stream of referrals, this is the perfect time to invest in a strategy that will protect your business down the road. Inbound marketing is about leveraging the web so you will be in the right place at the right time.

Remember, inbound methodology is not focused on just finding you any customers, but attracting the specific and exact type of leads you desire. Learn more about inbound marketing by reading our article on how to find the right customers for your business.

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Andrew Coffey
Andrew Coffey