Every marketing and business development activity ultimately focuses on the following goals: make contact, start a dialogue, and sell. Personal networking, telemarketing, online marketing, email campaigns, and direct mail are all activities businesses can undertake to start interactions with prospective customers. With any of these types of marketing, knowledge, and skill are required for the activities to work most effectively for a business.
Individual networking and formal networking events provide a platform for business owners, managers, and salespersons to meet new contacts and, over time, expand their network to include prospects, customers, suppliers, professionals, and other colleagues. It is essential to understand that personal networking and networking events are not meant to sell products or services but to build a foundation for later sales and referrals. This base of contacts can be a valuable asset for any business.
The following five essential tips can make business networking successful:
1. Understand Networking Target
Networking success depends on knowing relevant information relating to exactly what type of individual to target…position, industry, location, etc. The owner, manager, or salesperson can then plan the best networking events to attend that will provide the most desired results. Although the perfect connections will most likely not be at every event, connections likely made can be leveraged to meet additional individuals by way of referrals.
2. Make Time to Network
Successful business networkers understand that building a solid network takes time and effort. This is not achieved through a quick conversation at just any networking event. Planning and scheduling time to attend business events where the right target audience will be in attendance helps achieve success in this area. Making time to network is just as important as making time for employee meetings, customer meetings, etc.
3. Forget About Selling
The key to successful communications at networking events is to stop selling and start listening. The first communication should be focused on meeting, building rapport, and developing a relationship with each connection met. Trust is essential in building lasting relationships and future business or referrals. After the first handshake (or fist bump), the road to networking success is building trust.
4. Follow Up
The most common failure in networking is the lack of follow-up after a connection is made, whether through an individual meeting or networking event. A meeting must be followed by some communication… an email, handwritten note, or phone call. No follow-up means a lost potential contact and possible referral. Networking follow-up is not just for new contacts but for previous contacts.
5. Use Technology
Although business networking relies on traditional communication skills, a multitude of technology supports this endeavor, from scanning business cards to making digital notes. CRM (customer relationship management) systems store relevant business and personal information and provide follow-up reminders. The use of technology can significantly enhance the efficiency and success of networking.
Social media also provides an up-to-date method of developing online relationships versus actual person-to-person networking events. Connecting and pursuing leads from LinkedIn and other forms of social media is an excellent low-cost way to network via the web. Combining actual networking events, personal meetings, and the use of technology can accelerate the base of networking contacts.
Business Networking is a Key Activity for Business Success
Although modern technology continues to change how people and businesses communicate, there is little doubt that traditional communication techniques still build the most vital relationships. Business networking remains an essential activity for any business owner or manager.
Building a widespread and robust network requires time…meetings, and follow-up. Indeed, not all connections will result in an ultimate sale. Still, the more connections made, the greater the chances of a connection turning into a customer or a connection making a referral to someone who will turn into a customer. When the time is right for someone to seek a particular product or service, the goal is for the connection to think of you. A strong network of connections can open up a whole world of new business opportunities.
