
What is the point of business networking?
The number of communications and messages that each person receives every hour and every day means that it is becoming increasingly difficult to identify, make contact with and communicate to potential customers for your products and/or services. Business networking can help you to overcome some of these obstacles and gives you another channel to market.
What is business networking
At its simplest, business networking means that other people introduce you to their clients or customers having established that they have a need for your products and/or services. What this means is that you are awarded a customer, with the relevant need, and to whom you are able to introduce yourself to , with a level of trust and capability already established.
What can I expect to get out of it?
Business networking is not a magic potion which will solve all your problems. However, it can be an additional and valuable element of your Marketing Mix. It is difficult to quantify and value results but the chance of success can be increased dramatically by following a few key principles.
Regularity – for people to feel comfortable enough to recommend you to their customers, they need to get to know you, your organisation and above all, they will need to trust you and your capability to deliver. Regular attendance over a period of time at networking meetings can help to build up this trust.
Description – for people to be able to recommend you , they need to clearly know and understand what you do. Learn how to encapsulate what you do so that people, when they meet you, will be able to understand what you do and the type of clients whom you are looking for.
If you are able to do this, you could expect to receive introductions to valuable clients who are looking for suppliers just like you.
How much does it cost?
The cost of business networking differs greatly as does the regularity, type of venue, style and time of meeting.
My advice would be to go to several and find one that suits you. Basingstoke Business Club charges £ 10.00 per breakfast meeting with no membership fee. Prices of other groups vary considerably.
How long will it take before I start seeing some results?
This is virtually impossible to define but a good rule of thumb is that it will take a minimum of six months if you are looking for larger value sales. Smaller value sales can be obtained much more quickly.
I have already done some networking and it has not worked.
There are no guarantees but you could ask yourself a few questions
- In the groups where you went, did you know everyone and did everyone know you reasonably well?
- Did you attend regularly enough to become a recognised, trusted and respected member of the group?
- Were you able, perhaps over the course of a few meetings, to clearly communicate what you do and whom you are looking to meet?
- Did you take the time and trouble to understand everyone else’s needs and requirements? – in networking, statistically, those who give the most also receive the most.
I hate having to stand up and talk to everyone in a room. (the 60 seconds)
First of all, very few people like doing this at first but here are few tips and thoughts for you.
- It is a good skill to develop as you may find yourself in such situations with customers.
- Everyone who is in the room watching and listening to you, is on your side, it is not a test and everyone is trying to understand what you do and how they could help.
- Practice and rehearse what you are going to say at home before coming to your meeting – make notes if that would help.
- Change your 60 seconds at each meeting so that what you say continues to be interesting, give examples of current clients.