Even if your business is in the formative stage, now is the time to work on your LIST OF PROSPECTS. For every 1 person you meet at a network event, they know at least 5 other people who may benefit from your products or services. So if you come to a network event of 10 women, you have a potential to walk away with 50 contact names and email addresses.
Now, here is the thing, keep in mind that these other 5 contacts may not transact business with you monetarily, but they may provide a resource you need or a service you need to help you advance your project. These are golden because usually a bartered exchange or pro-bono service may represent more value than just someone making a purchase.
WHEN YOU NETWORK, IT IS TO DO 3 VERY IMPORTANT THINGS FOR THE LIFE OF YOUR BUSINESS:
(a). INCREASE YOUR CUSTOMER BASE
(b). GROW YOUR REVENUE
(c). PRESENT YOUR BUSINESS OR PROFESSIONAL SERVICES
KEY THINGS EVERY PROFESSIONAL WOMAN MUST KNOW WHEN NETWORKING:
· Relationships built while networking produce repeat business and generate continual leads
· People are always more inclined to do business with people they know and people they trust
· Referrals gained as a result of networking are more likely to generate better sales because the referees trust the person who referred them.
· Preparation at a network event produces solid leads.
Time and time again I monitor network events and I watch people talk around their business but never ask for a referral or ask for a sale. It amazes me that follow-up conversations tend to fall through the crack until the next event. Business cards are peevishly exchanged without the expectation of a continued relationship; and postcards are given out with the hope that someone will read all of its contents. You have to close out your conversations with an expectation of follow-up and commitment (on your part). You have to be willing to follow-up, but be sure you have the proper tools to effectively do that. You will need to:
· Bring products/books/materials/web-site/cds/dvds/business cards/postcards
· Have dates and deadlines ready for upcoming events
· Receipt book
· Payment methods
· Business Calendar to schedule a follow-up. Make sure it has the name & address pages to gather information
· Business Card holder
· PEN & PAPER (this is a common mistake)
HOW DO YOU GET 5 REFERRALS? ASK!
When asking for prospects you want to qualify that prospect so it’s not a waste of your time. You want prospects that are suitable to the services or products you provide.
For example if you are in Real Estate, you may only obtain 1 name as opposed to 5 because of the current economic climate. However, if you can get your foot in the door at your prospects church or civic group to do a pro-bono session on the “Benefits of Buying in a Down Economy”, then your potential prospects exceed 5 single leads.
Getting referrals require savvy and creative thinking. Think about what you need to walk away with to make sure your business can thrive. Also, be willing to reciprocate and give your services away in order to help you get to the bigger picture. If you can teach a class or bake a sample cake to present to a company then do it. But make sure that you are prepared to close the sale after they have experienced your services. Go for the bigger commitment. Some times people want to “sample your wares” before they buy. This concept of sampling is a great way to get your business out front. At your next networking event armor yourself with what it takes to build your customer base. After all networking is more than a “feel good gathering”; it’s about business growth and lead generation.
© 2009 Carmen A. Gray. All rights reserved.