Globalization and technology have made the world seem larger and more impersonal than ever. But somehow people still manage to connect with one another. And they still talk — especially before spending money.

Most buyers start out by conducting research. But when it's time to narrow down the options, where do they turn? Whether they're in the market for a new accountant, builder, marketing firm, lawyer, technology solution or bank, most people don't just pick one at random via Google. They ask the people they trust who it is that they trust.

For companies and salespeople, this is really good news. Because referral selling is, hands down, the most effective and least expensive way to attract and retain new clients.

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