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Professional services firms have historically relied heavily on referrals to generate new business. On average, nearly 70% of buyers made a referral for their service provider. Interestingly enough, this number has decreased nearly 5% since 2013.
So what gives?
Even though recent research shows that clients are more willing to be referral sources for their service providers, they’re actually making fewer referrals. The key takeaway is the increase in alternative sources for information.
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