Networking for Lead$

As much as possible, we will always do business (and repeat business) with people we like, know and trust. Getting people to know us, and like us, (not to mention) trust us is the biggest challenge in finding, and closing new business.

If you would prefer to send a text, reach your target market via email or rely on the web to make your business services known, STOP READING NOW. This is not for you.

What I want to propose is the most simplistic way of building a network of leads from people who probably like you, know about your expertise and are comfortable referring you to others. What I'm talking about is expanding your realm of influence and business connections through word-of-mouth marketing. This highly innovative form of lead generation is called "networking for leads" and it is used by only the best in the industry.  

Networking for leads is the process of finding "secret pockets of people" who know a lot other influential business people in your network and refer those people to you for the purpose of finding new business opportunities. Networking for leads is literally "the best and most effective sales strategy for finding new contacts and closing business," says CEO Larry Kesslin of 4-Profit coaching services.  

You might wonder, "What pot of gold are you selling?"

Unlike many marketing programs that talk about traditional tactics for attracting prospects, selling value and tracking leads, Networking for Leads is the process of finding pot-of-gold networking groups that provide you with rich networks of opportunities for finding business you might not otherwise be privy to.

James McBreaty of BNI said, networking is not "net-sit or net-eat; it's net-work," meaning it is going to take purposeful effort to make you visible and known to groups of people who know other effective and efficient business people. McBreaty goes on to add that "business people get business when their expertise is known and others reach a comfort level with them."

Your goal is to produce lasting and profitable results by building a professional network of other business people who will refer you to their clients.

Who are these amazing business connections? They are the very people in your own backyard. They are the best realtors who knows everyone in the city; the favored coffee maker who rubs elbows with the most influencial people in your neighborhood; the bright account who deals with your best customers;  the trusted florist who delivers to the upper-side of town, etc.

These amazing business connections are the people in your neighborhood that rub shoulders with other mover and shakers. Mr. Rogers hit the nail on the head when he crooned "Who are the people in your neighborhood? They're the people that you meet each day."

So, how do you connect with these lead-driven networking groups?

1.      Join a networking group already in progress. These groups are exclusive to individuals who have a certain type of expertise and offering.

There are several professional networking groups such as BNI and Le Tip who have brought together like-minded business professionals for the purpose of sharing leads and finding new business opportunities from other people who share similar values.

They will connect you with a select group of business individuals with a network outside of your own who get to know you and potentially share their clients with you. Of course the expectation is that you will do the same with your client list.

The upside to joining one of these groups is that you have instant access to a group of seasoned and influential business connectors in your immediate geographical or industry network.

The downside is that you may be expected to give leads to individuals you might not trust or want to provide as a referral to your client base.

2.      The second (and often most overlooked) way of networking for leads is to start your own group.

"Why," you may ask?

Have you ever joined a group in the past and thought differently of the one who runs the program? Of course. We have a set of expectations for the person who runs the group and a separate set of expectations for the individuals in the group.

As a moderator, connector or person who brings people together, you are the LINK between you and the others in the group. You moderate, set call times or meeting locations and provide the connectivity to keep the group together. As a result, you have access to all the leads and information being shared among members. What you won't be expected to do is share your leads as readily as those in the group, giving you the ability to pick with whom you share your customer's names.

Finding the right type of network is going to be most important. Preparing to answer questions about your offering and allocating time to network will be essential for your networking efforts to succeed. At the end of the day, this really is the simplest and most effective way to build your network of leads and watch your business grow.

To learn more about how to join or build your own Network of Leads, email Ginger Clay at ginger@4-Profit.com  for a step-by-step guide to building your network of profitable leads.

 

Old School Rules Still Apply When Building Your Network

The world around us is evolving. How we interact with our peers, build contacts and establish our “brand” or identity in our larger network is dramatically changing, and technology is in part to credit (or blame) for this transition. Gone are the days when business leaders have to rely on social events such as Chamber “meet and greets”, trade show or industry mixers, and golf outings to expand our network of peers and professional connections. Social media and online communities have changed all of that! These tools give you the ability to cut to the chase and find contacts that do what you do and share similar interest. They also give you laser focus when looking for prospective businesses that fit your “ideal” client description. Even more important is the value of connecting with other thought leaders in your industry that share similar interest or have something that can help you do your job better and faster.

 

Depending on how you look at, this is an amazing time and age in which we live. We can craft our own identities and rub elbows (hypothetically) with almost anyone, anywhere.

I had someone whisper to me at a recent event, “Oh he’s so old school. He thinks he can just show up at this event, hand out his business card, rattle off his elevator pitch and a short list of client names and get new business.” She was a colleague of his and unhappy about his personal aversion to social media. 
 
Can you effectively network using “old school” rules? As a marketing professional and national speaker on social media topics, I am going to say, “yes,” because the rules of rules of engagement have not changed.

If you have heard me speak on social media at popular events, you might be thinking I am not practicing what I preach! Not so.

While technology has taken us into networking circles we might never had been privileged to enter without an invite or special membership, as business leaders, the rules for building an effective network have not changed. Instead of calling it a network, we call it a community. At the end of the day, it is still all about achieving “relationship ROI” and building a social-peer-professional networks that arms you with the ability to stay abreast of new technologies, follow industry influencers, stay close to your competitors and get past the gate-keeping in an organization through a referral or introduction. It also gives you the ability to give back to others in your community, mentor aspiring leaders and provide thought leadership on wisdom you have acquired through the ranks.

In this regard, nothing has changed.

As a business leader, relationships still carry their own ROI. They just look a little different. With the availability of social networks, communities and online events, we now can claim to be “connected” to someone or know something about someone we would have otherwise not known. As humans, we still want to connect with others on a more intimate level. The need for face-to-face interaction still exists. This will never change. So, the old school rules can apply.

Building a healthy network starts with making purposeful, relationship-based connections. If you can embrace social media tools to help you be more successful, power to you! Remember, it is not just who you know, but the value you bring to the relationship that really matters as you build your peer and professional networks.

Here are the 6 steps I recommend for building your network:

1.     1. Take inventory of your current network.
Begin by taking inventory of everyone you know in your industry. This will include customers, experts, media and vendors. Begin by using the following list as a guide for developing your list of networks.

2. Identify networks that provide the greatest "bang for the buck."
Research and make a list of the social events, networks, associations, trade shows and professional associations that hold the greatest potential for helping you growing your network. Prioritize the list. Research the cost of membership and decide which networks best fit your mission/value/goals.

3. Decide who in your organization represents you best. 
Networking should be a volunteer event. Take inventory of your internal staff and decide who in your company enjoys networking and can represent your company best. Too often business owners try and do everything themselves. Use your internal staff resources to help build your network of influence.

4. Create a matrix of expertise within your organization.
Decide which expertise in your organization is best represented at select networking events. Match those individuals to specific networking events. Make this a fun activity by having various individuals on your team pair-up at events and report who they met at a company event or manager's meeting. Don't forget to have a system in place for systematically collecting leads, follow-up and tracking progress in your sales pipeline.

5. Use your daily activities to build your network.
You can do this simply by building contacts through casual conversations that occur while doing the things you like to do such as playing golf, attending charitable events, extracurricular activities, kids events, etc. Don’t forget to make social media an asset for building your network by systematically mining for contacts by role, company, interest and industry.  Finally, host an after-hours Open House to meet other influential people in your professional "neighborhood."

6. Ask for contacts!
Go ahead, don't be afraid to ask your professional community, your current contacts and happy clients for introductions and referrals. Clearly communicate to them that you are building your professional network of influencers and tell them what types of individuals you are looking to meet. If they think you are worthy of an introduction, they will gladly make the call.