We find that face-to-face networking is one of our most valuable prospecting strategies. Cold canvassing is dead; it’s referrals from trusted friends and associates that people want. Be that trusted professional that people will refer to.
We built a bar/night club on the roof of our office block. It’s a lunchroom by day, with table tennis and the 18th hole of our round-the-office 18 hole putting course. But we also use this facility for networking events. Such as local business association sundowners, breakfast meetings for networking groups, not-for-profit organisation Christmas parties, joint seminars with other businesses (with a dietician for health, migrant agents on migration law changes, IT firms, advertising agencies and business coaches).
We belong to a Real Logic breakfast networking group which is more relaxed and more referral focused than a Business Network International (BNI) group. About 14 or so other businesses in our group refer us business, built on years of networking and as a trusted professional.
It is important to allocate time in developing a networking marketing strategy. You can’t achieve your business or career goals on your own, so join with like-minded people and network. There is an advantage in engaging in activities you enjoy with people, it makes conversation easier. Networking through your cycling club or book club is much easier than with people you don’t know.
Don’t forget to ask for leads from your clients and your established networks. Make it part of your client review process, for instance – something like: “We have built our business on word of mouth referrals from our clients, we do not advertise. Do you know any who we can help like we have helped you?”
If you find networking difficult, explore existing networks first. The golf club, footy club or an association you belong to and start networking with people you know. When in unfamiliar territory and a room full of people, pick the faces you do know. A series of successful conversations will make you more confident and easier for you to approach people you don’t know.
We have gone from 0 to 40 staff in our accounting and financial planning practice in 15 years. And we hope to double this again in the next five or so years, if we can keep our current rate of growth up. We owe this practice growth to word of mouth referrals, from clients and referral sources. Our referral sources generally come from our networking within local business associations, breakfast networking groups, local sporting clubs and social groups.
13 rules to successful networking:
- Get out of the office and network, talk to people and you will bump into opportunities. Sitting at your desk won’t bring you referrals
- Allocate a minimum five hours a week for face-to-face networking, more if you can spare the time
- Focus on what you can give to them, rather than your immediate gain, as this builds great referral sources
- Networking relationships take many months to build – be patient and stick with it
- Find something in common with the people you network with and the relationship will be more productive for both parties
- Have the right intent to help people and build their businesses. Offer a little free advice and find them referrals – rather trying to make a sale – and referrals will start to come your way
- Networking without giving people value in some way is schmoozing, and there is no value in that
- Be prepared. Think of ice breaker questions (business pickup lines if you like): “You look like you have had a great day; how’s business?”
- Have your personal pitch ready: “We are …, we do … and we help people …”
- Follow up. Why go to all that trouble of going to a networking event, meeting people and collecting business cards, if you do not foster that relationship and get business or referrals?
- Stay in touch – provide value, something for nothing, share information, an article or a contact.
- Networking improves with practice.
- The key is to smile and take an interest in other people – be more interested rather than interesting.
