You probably already know that references are a frequent feature of a procurement process. Buyers often insist that potential vendors provide 3-5 references from happy customers. 

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They are incredibly powerful. They sway 85% of buying decisions in B2B sales. 

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But what is the reason that references are so influential? Why do buyers ask for references? If you want the answer, read on.

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Why are references sought?

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It’s about risk mitigation.

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Enterprise sales often involve significant investments, and buyers need to minimize the risk associated with their purchase. By speaking with existing customers, buyers can assess potential risks and how the vendor handles challenges and issues that arise.

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Buyers are looking for a track record of successful implementations and satisfied customers. References provide third-party validation of the vendor’s claims and build trust in their ability to deliver on promises. Essentially buyers want to confirm that the product or service performs as advertised. 

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References can provide insights into the real-world performance, reliability, and scalability of the solution, helping buyers make informed decisions.

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Buyers can also gain insights into a potential vendor’s implementation process and ongoing support. Referees can share their experiences, highlighting how well the vendor managed the deployment, training, and post-sale support.

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References are also not just a simple vendor background check. Buyers can also gather information on best practices and benchmarks from other organizations that have already implemented the solution.

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References help buyers set realistic expectations and plan for a smoother adoption process.

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References help buyers make well-informed decisions, reduce uncertainties, and increase confidence in their choice of vendor.

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How can I manage vendor references

Your happy customers are your best sales people. Imagine you could reliably lead with your references instead of having to push back to the last moment in the procurement cycle. Imagine establishing trust and credibility with prospects without overburdening your existing customers and champions.

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Welcome to RefVault.