Tired of Coming Home from Networking Events with A Pocket Full of Business Cards and No New Customers?

Jerry, a client, told me the reason he networks is that it’s cheaper than any other form of marketing. I hear that a lot, but it doesn’t usually pan out that way.  Here’s how to fix that.

I asked him how many new customers he got from how many hours of networking.  He  started figuring,  “3 networking events a week, 2 hours for each event . . . about 36 hours a month”  Almost a week a month!.”  2 new customers a month for that effort.

18 hours to acquire 1 customer. That’s only $2.78 per hour for a $100 sale, or $27.88 per hour for a $1,000 sale. That doesn’t even include the cost of producing his product or service.

Doesn’t quite pay the bills for a lot of effort does it?  Not exactly cheap marketing either.

The problem wasn’t “networking” for Jerry. It was how he was doing it..

What’s wrong and how can Jerry correct it?

Jerry’s focus was on collecting tons of business cards, and on one-on-one sales instead of one-to-many sales. He wasn’t  getting many customers

One on One Networking (Selling) vs One to Many (focusing on them, not you)

Have you been walking around introducing yourself, your products and services at networking events, exchanging business cards, or looking for “an appointment”?  That’s one-on-one selling, not effective networking.

You’ve collected a lot of business cards, and have set some appointments. It seems that those you have appointments with were more interested in selling you than listening to you. It ended up being a battle for who gets the most time, and each of you are just waiting for your time while thinking about what you’ll say rather than listening to the other person . . . total waste of time.  You might make a sale here and there, but onesy-twosy stuff.

Think how different your networking, and the results from it, will be if you spend your time finding others to help them get what they want

You can have everything in life you want if you will just help enough other people get what they want

Zig Ziglar

Let’s evaluate two networking approaches. Two people meet and

  • Are waiting for their time to give their sales pitch. While one is talking the other is figuring out what he’ll say when it’s his turn. No one is paying attention to the other.

or

  • Are FOCUSED on one thing. Helping the other person get what he wants.

The first results in conflict, not hearing what the other person says. Very little personal connection, let alone making a sale. If by happenstance you do make a sale it’s likely just one.

In the second, the focus is on two people putting their heads together with one focus, helping the other get what he wants. For half the time the focus is on two people figuring out how to get one of them not just one sale, but how to connect him with the most people that they can put together, and how that might happen not just one time, but how they’ll keep coming back together over and over to work on getting more business for that person. This happens one at a time. For about half the time both of you are focused on you, half the time you both are focused on him.

No one is trying to sell the other, although that might happen. They are working on building a business for the other, getting more clients, or some other way of “helping the other succeed.” Two heads working on YOUR problem and then working on his, a MAJOR shift in networking mindset and the results?

The results will change your business and your life. I guarantee it.

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