Thursday, June 7, 2012

How to Profit From Networking

Sales are often developed through the relationships we have developed or created with other people. Networking functions provide the opportunity to expand our contact list, particularly when we create and nurture quality relationships. Visiting a networking group, talking to dozens of people and gathering as many as possible business card isn't enough. However, you can derive tremendous potential for new business leads from every networking function you engage in. Here are five carefully selected strategies to make networking profitable, enjoy it:

1. Choose the Right Networking Group

To obtain the best result from networking, you’ll have to join or attend the appropriate networking events for your particular industry. This may include trade shows, conferences, forums, and associations specifically dedicated to your type of business. For instance, if your target market is Group of companies, it does not make sense joining a group whose primary membership consists of individual business owners. Or, joining a dating site forum when you are actually engaged in affiliate as a niche. You can as well participate in groups where your potential clients meet. For example, a friend of mine joined a local franchise association Ogun state chapter, he assist people to negotiate leases with their landlords in Abeokuta environs. He joined the local franchise association because most franchisors lease their properties.

2. Focus on Quality Contacts against Quantity

My best approach is to make between two to five new contacts at each networking meeting I attend. Many people you must have experienced, while talking to you, keeps their eyes roving around the room seeking their next victim. These individuals are more interested in passing out and collecting business cards than establishing a relationship. I’ll implore you to focus on quality of the connection and people will become much more trusting of you.

3. Make Good and Positive First Impression

There is EXACTLY just one opportunity to make a great first impression. And factors that influence this initial impact are your hand shake, facial expressions, eye contact, interest in the other person and your overall attentiveness. Develop a great handshake, approach people with a natural, make good eye contact and wear a genuine and welcoming smile. Take note of the other person’s eyes as you introduce yourself. Listen carefully to their name. If you don’t hear them or understand exactly what they say, ask them to repeat it because many people do not speak clearly or loudly enough and others can be very nervous at networking events. Make a powerful impression by asking them what they do before talking about yourself or your business. Seek to understand first and then be understood. Comment on their business, ask them to elaborate, or have them explain something in a more detail way and as they continue; make sure you listen intently to what they tell you. Once you have demonstrated an interest in someone else, they will - in most cases – become more interested in you. When that occurs, follow the step outlined in the next point

4. State Clearly What you do

You should be able to state clearly what you do. Develop a twenty seconds introduction as well as forty seconds presentation. The introduction explains what you do and for whom. For example,” I work as an online entrepreneur that helps in giving tips and business strategies on how to make legitimate money, increase your business sales and profits.”This introduction should encourage the other person to ask you for more information and when they do, you recite your forty seconds presentation.”Kola Oluwole of K High Profile Clothing wanted a programme that would help his sales increase. After working with him for four months we achieved a 20.5 percent increase in sales. Plus, sales of his premium line of ties have doubled within this time frame.”As you can see, this gives a typical example of your work and the results you have helped your clients achieve. Each of these introductions needs to be well-rehearsed so you can recite them at any time and under any circumstance. Remember, you must be genuine, authentic and honest.

5. Follow Up After the Event

Most people drop the ball here which shouldn’t be the case. The follow-up is the most important aspect of networking. There are two specific strategies to take:

· First, immediately after the event – typically the next day – you should send a handwritten card or make a phone call to the people you met. Mention something from the conversation you had together and express your interest to keep in contact. Always include a business card in your correspondence.

· Next, within two weeks, contact that person and arrange to meet for launch. This will give you the opportunity to learn more about their business, the challenges they face, and how you could potentially help them. This is NOT a sales call – it is rather a relationship building meeting.

Networking does produce results. The more people know you and your business, and the more they trust you, the greater the likelihood they will either work with you or refer someone else to you.

Explore More. Dream Big and Aim High!

No comments: