Sales networking is an integral part of any business. It can lead to new clients, potential partners, and valuable connections. However, many people don't know where to start when it comes to making these connections. In this blog post, we will go over some simple strategies that you can use in your own sales network!
Networking is an important aspect of selling. The more people you know, the more likely you are to make a sale. For example, say your friend tells you about her house needing repairs and she wants to save money by doing it herself.
She asks if you know someone that could give her an estimate on how much it would cost to fix up some rooms in her house; instead of saying no (which puts you at a major loss), ask for details like what kind of work she wants done and where, then call around for estimates yourself.
You can tell your friend these prices are great-even better than what the last guy told me because you aren't just blowing smoke—you have specific numbers in mind based on research!
Then, when your friend quotes her lowest price and it's still too high for her to afford the project, you know EXACTLY what to look for in a contractor that would be willing to give a lower price.
You've essentially given yourself an advantage by knowing more about contracting than your friend did before she called you-you know exactly who to get on the phone with.
If you make this process sound like a win-win situation where your friends save money and you get paid, they will not only appreciate what you're telling them, but they'll recognize how much time and effort it took to come up with such information.
What Is Sales Networking?
When you think of networking, what comes to mind? Is it:
If your answer is (a), you're not alone. Everyone says they want to build their business through referrals, so few people actually do it that I've lost count. When asked about their referral sources, most salespeople can only name a handful of people who have helped them.
What's going on here? Why are we all attending these same "networking" events but rarely getting the results we're looking for?
The problem is that most people don't know how to network effectively. Instead, they treat it as a series of awkward hellos and forced small talk. And if you've ever been to a networking event, you know exactly what I'm talking about.
There's nothing wrong with these types of events per se, they can be quite valuable. But let's face it - unless people enjoy going out enough to make it part of their regular routine (which many do), they aren't likely to build up large numbers of personal contacts in the course of their normal day-to-day activities.
They need invitations… so throw them one! You can do this by turning a business card collecting exercise into a networking opportunity.
Benefits of Networking
The possible benefits of sales networking can be broken down into three major categories.
1). First, sales networking helps the organization in the way it is intended to help by providing new business opportunities for company representatives and distributors alike.
Networking with others in the industry will make you aware of many more product opportunities that are available outside your usual circle of contacts, including products not even offered by your own company.
Through information obtained at conferences, trade shows etc., one may become aware of potential customers who would be interested in his or her product but never considered it before due to unfamiliarity with it. Potential buyers may also find out about another distributor's products through their network contacts.
2). Second, effectiveness is increased through greater knowledge and awareness of current market conditions. Sales networkers are constantly informed of the latest market trends in their industry, new products in development, and changes taking place.
The more knowledge one has about an industry in which they intend to sell, the better prepared they will be when encountering prospects since it will allow them to discuss issues intelligently with potential buyers.
This is because sales networking enables you to make intelligent decisions about the products you purchase for distribution because you become familiar with your customers' needs before actually doing business with them; thus making planning easier.
3). Third, success is achieved through cumulative beneficial effects of networking over a long period of time. The opportunities possible within any given organization are limited if only one member is involved in its distribution systems.
Membership in trade associations or other groups can be an ongoing resource. Through involvement in other associations, one has the advantage of being exposed to many other distributors from a wide range of industries which can provide a plethora of business opportunities
How To Make Sales Networking Successful At An Event?
1) Make sure the people you're talking with are connected to you- even if it's just that they work for your company or share an interest with you.
2) Ask for their business card. If there seems to be no connection between what you do and what they do, politely excuse yourself from the conversation.
It's not worth wasting either of your time. But if they are somehow connected to what you do, use them as your prospect list for the next three months.
3) If you ask, be specific- For example, tell them that if they ever hear of anyone who might need your product or service, they should send them your way. Or offer to buy them lunch and pick their brain about a current project, in exchange for help on one of yours.
Imagine the results you could get if it turns out that person is in charge of purchasing your type of service! You want 50-50 reciprocity here - something for something.
The key is not always asking someone directly for business; instead try offering information or advice first so when you do ask it's only fair.
4) Write down the names- write the names of all the people you talk to on your business card and store this information in your CRM or contact management software.
This will allow you to track everyone that helps you over time and reward those who contribute the most. Once someone has given you a referral, make sure to ask them how it went and whether they'd like to be on your list for similar opportunities. Get feedback; don't leave anything up in the air.
5) If networking isn't part of your daily routine yet, start today!- Treat every conversation as if it has the potential to be valuable (and realize that by starting conversations with strangers, you'll often turn them into connections. which can help you develop your contacts).
6) Treat every conversation as if it were important- When people are talking with you, they are giving away valuable information - even if it's just their contact info!
If someone is talking with you for more than 10 seconds, look them in the eye and smile. Give them your full attention. You never know what sort of information or potential opportunity they might slip into the conversation.
Even if all they're doing is telling a funny joke, try to give at least 50% of your attention to this person so that they feel valued.
7) Listen twice as much as you speak- The more everyone around the table benefits from a conversation, the longer it will continue to be worth everyone's time.
If someone is speaking and you find yourself getting bored because their topic isn't interesting to you, try to focus your attention on what they're saying for at least another five minutes before tuning out.
Most people don't ask enough questions when they're talking with others - listening well shows that you care about them and what they have to say.
8) You'll often get more value from networking events when you talk less!- People remember those who are captivating listeners much better than those who monopolize a conversation.
But make sure not to take this tip too far: if there's a speaker present, it's common courtesy to give them the first two minutes of conversation before you start engaging with people around you!
9) Take advantage of "warm" leads - like family members and close friends. Warm leads are easier to connect with because you already know something about them.
But make sure not to abuse these connections; many prospects won't want to have business done through personal relationships. If someone asks who referred you, tell them it was a friend but don't mention names so as not to violate their privacy.
10) Offer a genuine introduction instead of a sales pitch- A bad introduction appears self-serving and could have negative consequences by damaging your relationship with the other party.
For example, if you went to a networking event and met an accountant, don't walk up to him/her by saying "I want to talk to you about my business books! I'm doing some tax season preparation!" That's just going to create a bad impression that will likely lead them away from whatever it is that you're offering.
Instead, say something like: "Hi, I noticed a few people around here who might be interested in what you do so I wanted to come over and introduce myself - tell me more about what types of things people find helpful during tax season."
11) Remember everyone's names after meeting them- Many people will not remember you without a reminder; if they're asked, many people could only provide the first name of the person who introduced them at their last event!
This is another reason why you should always take advantage of warm leads when meeting new people.
12) Send out an email or two between networking events to keep in touch with your contacts- When talking with others it's common courtesy to bring up what they've been doing lately or mention how well you know someone else that they might have met before.
Just don't go overboard - it can seem like spam when you send out more than one email every few weeks!
13) After attending multiple networking events, follow up- Follow up on what you've discussed previously in conversations after returning from one. This shows that you're actually listening and that you care about cultivating those relationships.
14) Follow up asap!- If someone offers to help you out with an introduction or a referral, make sure to follow up shortly after the event by sending them a brief email or calling them on the phone.
Otherwise, they might feel like they've been put off and forget about helping you. The best time frame for following up is one week after the networking event if it's a warm lead; for cold leads, try 2 weeks at most.
Less than a month since your initial interaction will show that you're interested in keeping in touch / remaining professional. Make sure to keep multiple calendar reminders, just to be safe!
15) Use social media to your advantage - Twitter, Facebook, LinkedIn, etc. are all great to help you get organized and follow up with people after networking events.
You can treat each page as a separate contact list that will automatically update every time someone accepts your request or sends you a friend invite!
Just make sure not to send out marketing messages on these platforms; it's very important to keep the lines of communication open so don't let this be blocked by too many sales pitches!
16) Remember that networking is not a numbers game- It's about quality connections and relationships formed over time. You'll never generate any business by sitting at home and waiting for the phone to ring!
Networking can be effective when you're serious and consistent about following up and fostering your relationships with others. For every person who responds favorably to your greeting, there will be five others who don't or may seem uninterested - that's just normal rejection in sales!
Just keep going out there if this happens, because those are the people you need to meet most!
17) Don't be afraid of rejection!- If someone doesn't want to talk or doesn't have time, don't get upset - just get a business card if they offer one. This shows that you're committed to being professional and courteous so it can help people take you more seriously in the future.
They may not have been able to give an answer at the moment but maybe they'll remember your advice later down the road when they need a solution to a problem!
18) Last but certainly not least, be yourself !- Everyone has their own approach when it comes to networking; find out what works best for you and stick with that!
Just make sure not to be too overbearing or pushy - this will only scare people away and make them think you're only looking out for your own interests. Showing that you care about their problems is a great way to build trust and credibility so people will be more open to what you have to say!
