Is referrals crucial for your sales expansion in your industry ?

indeed

Referrals do have a positive impact on repeat business and making new customers in sales. It builds confidence in new customers to opt for that product / services. Very useful in key account management too.

Referrals is the most valuable source for generating new clients. In referrals there is no issue of trust since someone has already referred you as "trusted". Networking in the market to generate new leads is more productive and quick if you have referrals.

Referrals from a satisfied customer is more valuable than any advertising or sales campaign. If a sales rep has nurtured a good relationship with a customer by giving him excellent service his reference would be like a gold mine. When a financial consultant (bank rep) visits an existing customer he may not need the insurance or banking product immediately but so that he can get the same good service in the future he will not turn away the consultant empty handed. He will certainly give him some good references and on certain instances would even talk to the references and introduce the bank rep to his relatives, friends and colleagues. This will help the rep to penetrate the whole market very fast .

These day's referrals are important. specially when you are going to offer your product or service to a new customers. how would you convince them without they have tested your product? so here referrals helps you to get over the problem. when you give them references from the industry in which they deal in. it puts a good impact on their mind. and they feel a bit comofortable about that. its the right time if you have made your customer feel comfortable about talking and asking you questions about your product. now you can explain more about your product. and this way you can convince them to buy your product or service.

Ofcourse it is ,especially if it is coming from someone who had a great experience. 

It is like word of mouth which is the cheapest yet most effective way of marketing your company.

indeed it is, its kind of a reminder that we exist..its especially crucial for new and developing organizations.some times these simple things will do the trick in obtaining recognition..

its either refferals or cold calling in our business, and the cold calling takes time and effort and the results are not worth it.

refferals are the best source of new clients, easiest, and gets the best results.

In our business refferals is the most important factor and source of new clients, we can not survive without it.