Referral sources are individuals or organizations that direct potential clients or customers to a business or service. These sources can include satisfied customers, professional networks, or even online platforms. By leveraging these connections, businesses can gain new clients through trusted recommendations, which often leads to higher conversion rates. Common referral sources include friends, family, colleagues, and social media influencers. Businesses often encourage referrals by offering incentives, such as discounts or rewards, to both the referrer and the new customer. This strategy not only helps in acquiring new clients but also strengthens relationships with existing ones.