Referrals are a Great source of leads! Not only are they extremely warm lead because they are coming from a trusted source. They also indicate that the partner or client that made the referral trusts and believes in you which is a great testament to the value you are adding to them.
So what’s the problem?
The problem is that they are NOT a reliable source for consistent leads. They are great when you get them, but you have very little control over the volume and timing of when they come.
Yes, you could put together referral programs to incentivize more referrals. AND you do have control over adding massive value to existing clients so that they become advocates of your brand.
But at the end of the day, you cannot control them like you can other lead sources.
The moral of the story is – enjoy them, make the most of them, incentivize them and keep adding massive value. However, if you really want to have consistent, reliable sales, you need a system in place to generate and convert quality leads.