Posted by Joyce Oladipo on December 9, 2008 at 9:26pm
What I’ve learnt over the years is that networking the traditional way is one of the non profitable ways of growing a business. So why do people go to networking events? I guess it’s to get more clients, but that’s not what’s actually happening is it?I’m not saying networking is a bad thing but the way we do our networking is. Here are effective ways to massively increase your networking results WITHOUT ever having to waste your time at networking events!There is a lot of information out there that talks about how to network effectively. They talk about creating a powerful elevation speech, listening to potential clients and doing all the right things but they don’t mentioning the real reason why most people fail to gain anything worthwhile from their networking efforts!Why networking events hasn’t work for meMost of the networking events I go to like the chamber of commerce is full of people that are not really interested in my products and services, they are there to secure deals for themselves, which makes it a waste of time and money for me. There are a few qualified, potential clients and LOTS of competitors!You need to network where there is no competition.As a service professional, we find ourselves sharing the networking room with numerous competitors. All these competitors are there to get the same limited business that we are there for. Most of the peoples at networking events are all sellers not buyersBig companies tend to send their sales staff to networking events to help them win more business. Most of these people are not the decision makers and those that are decision makers are there to make money not to spend it. So the really potential clients are limited.I have also noticed over the past few years that these networking events are full of the same people, just a handful of them are new and that doesn’t mean that these new people are still not my direct competitors.Networking events can cost you a lot of money. You will not know how much you have wasted until you take the cost of the annual membership and ADD the cost of attending the event to the cost of your time maybe 2 hours or more to the hour you spend traveling to figure out the real value.What would €4,000 investment in a direct mail campaign win you in new clients? I just sent out 50 letters that cost me €60.47 to potential accountant that brought in a total of €60,990. Taking about investment huh.How to Network Effectively and Get ResultsI have been able to work well with accountants over the years, so I make it a priority to be where they are. I subscribed to a free Accountant ezines or magazines. These ezines or magazine always list where the next local events are held, so I don’t miss any networking event. I go there on a regular basis.When I network with my ideal clients, I tend to lookout for ways I can help solve their problems. Most of the time, they are there just to discuss problems they are facing in their businesses. In this kind of setting I know that I have access to my ideal clients with no competition. So whenever I give a solution to a well known problem, I get the attention. So when these prospective clients find out that I am there to learn more about their challenges; so that I can serve them better, they want to discuss their issues with me. People in these networking events are not there to sell. They are there to listen - making them perfect for anyone, like myself, with a valuable message. You could use this approach with just about any industry or profession.So if you are going to go to any networking event, be where there are no competitors and where the event is filled with ideal, prospective clients.~ Joyce OladipoJoyce Oladipo, The Business Growth & Marketing Mentor, is creator of the Profit Building system, the proven step-by-step program that shows you exactly how to grow your business fast without spending extra money on marketing. To Add $1,000's In Pure Profit To Your Business and receive her weekly marketing articles on dramatically increasing your income, visit www.BeAWealthyEntrepreneur.com.
Excellent comments, Joyce. I hear you on the networking events that include the same old people -- often a clique of people, to boot! Yes, go to the events where there ARE no competitors and where you have a captive audience. As with everything -- nothing in excess, everything in moderation.
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Enjoy,
Joyce
www.BeAWealthyEntrepreneur.com.
Thanks for sharing your thoughts!