New business: Are you getting your fair share?

I saw some figures again the other day that were allegedly from the DTI in 2005 (though I have to admit to trying to verify the source when I first found these same figures two years ago and not getting anywhere). Anyway, they’re still making the rounds, so here they are:

  • 47% of new business was generated by word of mouth referral
  • 43% was via an initial telephone call*
  • Leaving just 10% to all other media combined

*We’re not told whether the initial phone calls were inbound inquiries or outbound introductions (or a mixture of both)

However, if these figures are anywhere near representative of the true picture, a couple of issues come across loud and clear.

You need to be 100% sure that you are

  • Not merely passively waiting for referrals and recommendations but actively soliciting them (and know when and how to do so to maximum effect)
  • Happy that your telephone communication skills are all that they could and should be

Otherwise you’re losing out on an awful lot of potential business that could be yours…

You’re not falling short in either area, are you? Of course you’re not!

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