Create an Effective Networking Strategy.

Networking is invaluable to develop relationships, generate sales leads and share learnings to grow you and your business. As well as keeping us connected and sane during the Pandemic!

However, few of us have a networking strategy in the same way we have a business and marketing strategy.

It’s worth some consideration given we spend c.25% of our time networking, and some 80% of business typically comes from referrals and word of mouth.  

So, how can we approach networking to maximise our investment, and even give us with a competitive edge?

Here are 5 things to consider when developing your networking strategy:

1.WHY

Always start with ‘Why’. Be clear on why you want to network e.g. find new business or partners, reach a new audience, find a mentor/support, position yourself/business as an expert, develop your knowledge in a certain market/area. 

Prioritise your goals and consider the amount of time you want to invest in each. For example, the balance between finding new contacts and building relationships with existing contacts.

2.WHAT

Consider what you need to achieve, specifying the objectives for each goal. Think about your sales funnel, your sales volume targets and how many contacts you need to make given your current or predicted conversion rate.  

What is your plan to capture the contacts you made and how are you going to follow them up. For example, connecting on LinkedIn and then following up with an invite to your group, newsletter, or providing some useful information. Tie into your ongoing CRM activity to develop relationships for the long term.

3.WHO

Who do you want to network with? Consider not only your target audience, but also the kind of people you enjoy meeting and working with.  

Identify where your audience are, what events do they attend. Consider the names and job titles of individuals and organisations you would like to be connected to, often hosts will ask if you are looking for a specific introduction. Who makes the best introducer for you? Are there any membership organisations you should join?

4.WHEN

Plan out the month in advance to organise your c.25%. Perhaps diarising a monthly ‘networking planning/booking’ slot.  

Consider workload, best days and times, and what would suit your way of working e.g. lunchtime networking to focus the morning ‘mental peak’ on important client/thinking work. 

5.HOW 

Networking has thankfully shifted from selling towards ‘how can I help you’ and developing relationships for the long term.  

Consider how you can help those you meet. Ask them. Be interested and always start with asking the other person about their business.

However, do have your elevator pitch ready. Keep it clear and concise and focussed on the customer, what’s in it for them. And don’t forget a call to action!

There’s much help out there for developing a winning intro. Watch and learn from others at an event, and try out different approaches to see what works, all will help you increase your networking effectiveness.

Above all have fun. Everyone wants to talk to the smiling, happy person in the room!

**If I can help in anyway, craft your pitch, introduce you to key contacts, invite you to an event do let me know. The next FSB Virtual event is on the 10th June, you can sign up here - https://bit.ly/3gizLlN