Just what is networking?

Ring any bells?

"Just what is networking?"

This is a question I am often asked as a business person and also as someone who is involved with numerous committees and organisations. There is of course no one answer fits all to this questions and you must find what appropriate forms of networking are suitable for your business, your voluntary committees, your social scene etc.

But if you are in business it is something that you need to build as part of your own personal make-up and as part of your business structure. Failure for any business to network is a failure to cement the very foundations around what your business stands for. Networking is a statement of branding and as such it is the real face of any business and the visible tangible part of a business’s profile.

Therefore it is essential to understand just what all this networking entails.

Some people might advocate that “Half the money I spend on advertising is wasted, but the trouble is I do not know which half!” And with this in mind we know that the marketing landscape has changed inextricable in the last number of years.

Gone are the days when we could literally just stand and shout “Come and buy my products and services!” This type of sales and marketing has once and for all been destroyed as the ever fading Celtic Tiger ran off to find a new home.

A singular emphasis on advertising as part of your marketing mix will lead to ever increasing diminishing returns. We are bombarded with advertisements literally every second and minute of our day. And with our addiction to smart phones and social media we could see between 1,000 and 3,000 adverts a day! With so much information to absorb is it really any wonder that a business needs to find new ways to connect with customers and clients.

TRUST drives our business environment and here are some interesting statistics:

·       66% of the economy influenced by personal recommendations

·       88% of people will buy from companies they TRUST

·       85% of people will not buy from companies they DISTRUST

It is therefore essential for businesses to build TRUST with their customers and clients by being visible and tangible. And the most effective way to do that is by networking with customers and clients.

Cool business card.

So having established that networking is about building TRUST with existing and potential customers and clients we need to set out a few ground rules.

1.     Networking is NEVER about simply collecting business cards

2.     Networking is NEVER about just handing out dozens of business cards

3.     Networking is about converting contacts into word of mouth referrals

In addition to the above we need to be very clear that at any networking opportunity it is never about YOU it is ALWAYS about the other person. You must take steps to communicate effectively with the person you are speaking to and that involves listening, understand and not simply hearing what they are saying to you. Communication is always a two-way street and the very best networkers understand that they have to be an active listener.

At any networking event it is essential that you constantly ask yourself “What is YOUR brand?” Because to be in business today our most important job is to be head marketer for a brand that is called YOU! We need to understand that brand ME communicates our personal story, demonstrates what attributes that sets ME apart, states how YOU want to be positioned in the market place, defines your company/business and clearly distinguishes YOU from other competitors. Brand ME is not about bragging it is about defining YOU as a person other people can TRUST and as a person that people would want to do business with.

An early establishment of goals for any networking event is fundamental. Who are you trying to meet – customers, strategic partners or referral sources? I am here to generate new business over what timeframe? How much time will I allocate to networking? Where can I get the best value for my time?

We have all experienced this!

Once you have established the goals we need to network effectively and to do this we must remember that we are NOT selling the event. We need to start a conversation and therefore you need to be able to introduce yourself. We need to get to know the person, ask open ended questions and we must build trust. One of the most important aspects that people often miss is that you need to have a firm, strong and dry handshake and also carry good quality business cards and not the ones often advertised on TV, that feel like they are made of recycled cardboard. After shaking hands you more often than not give a person a business card and these two actions alone could define whether or not you have found a new customer.

Asking the right questions is also essential as it;

·       Separates the professionals from the amateurs.

·       Shows that you are concerned with helping them achieve success

·       Gets them to tell you how to sell to them

Follow up is essential.

Finally, one of the most important parts of networking that is often forgotten is the post event evaluation and follow up. You must be able to assess the success of an event, should you go back to a similar type of event, prioritise who to contact, decide who to contact within 24-48 hours, who to contact within one week and who never to contact.

Enjoy your networking ad we are all social animals and in general we are hardwired to interact and meet people. There are of course a few exceptions and these people need to be avoided at all costs.

“A brand is no longer what we tell the customer it is – it is what customers tell each other it is.” – Scott Cook.