Yesterday I wrote about using the Three Foot Rule and Elevator Speech. Today I’ll be talking about taking the elevator speech out for a spin at a networking meeting.

Networking is a way of marketing your business through social networks – groups of like-minded business people, or people in the same industry.

Formal networking meetings abound. The Chamber of Commerce, Board of Trade or industry associations all hold regular networking meetings. Now some groups such as BNI will definitely put you over the $100 limit. However, most groups will let you attend a few meetings as a guest. This lets you see if the group is a fit before you invest in a membership.

The goal of successful networking is to get to know the other members – and have them get to know you – well enough that they feel confident in sending referrals your way AND you feel confident in sending referrals back.

How do you do this?

• Take your time and talk to a small number of people at each event rather than trying to win the award for most business cards collected. Better yet, plan to meet one-on-one on another day. This will give you both a chance to really get to know each other and your businesses.
• Be genuinely interested in the people you meet. Ask questions about their business – open ended questions. A great question is, “Who is your ideal customer and how will I know if someone fits the bill?”
• But don’t just ask the question and forget it. Write it down on the back of their card and keep your eyes open for that ideal client. When you spot one, pass along the referral.
• Make sure you can answer the question about your ideal client yourself. If you aren’t sure who you are targeting, how can others confidently send you a referral?
• Go in with a goal of helping others by giving referrals, making introductions and passing along information. If you’re not getting results from your networking, ask yourself how many others you’ve helped in the group.
• While it is helpful to make some personal connections while networking, don’t make the mistake of thinking this is a social event. The ultimate goal is to build your business – keep this goal in mind and act accordingly.
• Be a regular. Networking is a long term strategy. The more you are present, the better known you’ll become
• Sit with someone new. The goal is to meet new people so don’t fall into a habit of talking with the same people each meeting.

Score! What to do when you get the referral

When you get a referral, act quickly. Ideally you should follow up within 24 hours. If someone goes to the trouble of making a referral, show enough respect to act promptly.

If you wait, the referral may have gone elsewhere. And worse, the person making the referral may feel this wasn’t important to you and be less inclined to refer you in the future.

Once you’ve followed up, let the referring person know the result. A brief phone call, an email or better yet, a thank you card will make all the difference. It lets this person know you value their efforts on your behalf. And makes them more likely to refer you in the future.

Finally, if you do get business as a result of a referral – do your best work. It’s not just your reputation on the line. The referring party’s reputation is also at stake. If they get raves about your work, everybody wins.

And ultimately, that’s the true goal of networking.

Join me tomorrow where I’ll discuss on-line networking and how it can help you build your business.

Andrea J. Stenberg