“How You Can Effectively Market With Little or Zero Marketing Budget By Using Effective Networking - Get Business and Sales Sent Your Way”
Tuesday, December 11th, 2007“How You Can Effectively Market With Little or Zero Marketing Budget By Using Effective Networking - Get Business and Sales Sent Your Way”
BY Axel Henriksen
While satisfied customers may well be your best sales force, that doesn’t mean they’re the only sales force and certainly not until you have huge numbers of customers willing to refer you to new prospective customers. There are lots of other people out there who can send business your way if you make the effort to network with them and make it worth their while. The concept of networking and word-of-mouth marketing is a very hot topic in business today for one simple reason: So many people are starting small businesses that need to find other businesses they can work with for mutual benefit. That’s why you will find no shortage of business, professional or service organizations through which you can meet other people. The key is to pick them wisely, choose only one or a few organizations that will be good for business networking and ignore the rest. Otherwise you’ll be spending all your time meeting and socializing and not working. Marketing without producing any financial rewards is another surefire formula for bankruptcy. For those of you interested in the % that word-of-mouth marketing accounts for it is a whooping 78% of all sales made!Now that includes your customers and any other source that is prepared to recommend and promote you to their clients, colleagues, family and friends.All forms of advertising are losing out big time and advertising agencies are struggling to cope with the Downturn.
How do you decide whether or not to join any specific networking organization or go to its social functions? Let’s ask another and even better question ” Am I likely to meet people there who will buy from me or refer customers to me? ” If the answer is no, don’t go unless you have some other reason for going.
The world is full of professional joiners who never met an organization they didn’t like. They go to all the meetings. They hold offices and serve on committees and boards, and since they do all that free work, the organizations love them. Nothing wrong with that. It’s just that when you run a business as a Sole trader you can’t delegate your work to others while you go out and play social butterfly. Remember your goal is to grow your business and make a Profit and that’s why Your networking time needs to be marketing time. This means putting yourself in front of potential customers or people who will willingly send prospective customers your way. With that in mind here are six guidelines for networking with others mutual gain.
1. Look for businesses that complement yours to network with. for example, put a tax accountant, financial planner, estate planning attorney, stockbroker and insurance agent together and you have five people who can refer customers to each other endlessly. Similarly, a wedding photographer would find it profitable to network with caterers, jewelers, bridal consultants, florists, churches, synagogues and reception halls. When a customer buys from you, what other products and services is he/she likely to want or need? Those are the type of businesses that would be excellent ones for you to network with. This is finding YOUR SUCCESS TEAM or the HUB of your Prospecting Wheel.
2. Competitors can also be an excellent networking opportunity. Just because you go head to head with other businesses doesn’t mean that you can’t work together sometimes for mutual gain. Have you ever noticed how one airline will book you on another carrier if it doesn’t have a flight to the destination or at the time you want? Airlines have an agreement whereby they book business for each other in return for compensation. You may find it useful to work out such an agreement with some of your competitors. Or you may have an informal agreement whereby you refer one of your competitors to customers for no pay. I frequently refer other speakers to potential clients if I can’t do a date or provide the kind of service at the price the client wants. Other speakers do the same for me as well. You may be a Wealth coach and you might network with another Wealth coach because they maybe Specialist real estate coaches and you might be a specialist Business inhancement coach or a Lifestyle inhancement coach etc.
3. Before going to a networking function, prepare in advance. Bring plenty of business cards. If you want to be remembered, have your picture printed on your business cards and do something with your name tags that will attract attention {I always have my own personalised name tag with me when I attend these meetings-secret here I have different name cards for different events}. Also before going compose and memorize a brief memorable statement and unique sales proposition when writing the description. For example - if I were going to a networking function my description would be” I like to work smarter through my websites, cd’s, dvd’s and seminars. My latest work is focused on teaching people how to become financially independent working from home with out any staff or paying any wages. I know first hand that it can be done and I want others to profit from what I have learned.” You can also call this your “Elevator speech” it has to take no longer than 30 seconds to say and yet include what you do for your clients.prospects market etc.
4. Once you get to the meeting make good use of your time. Arrive early and leave late. That way you’ll meet more people. Don’t stand around and wait for others to come to you. Act like a gracious host. Go up and introduce yourself to others. Find out what they sell and what type of people they want to connect with. If that’s not you, do you know others who might be of some help to them? If so , pass their names along. Encourage others to tell you about their businesses and you will be remembered as a brilliant conversationalist. If you know someone who might be a potential customer for them, pass the information along. After you learn about their work, be sure to deliver the short message {your elevator speech} about your business to everyone you meet because you just never know who or what they know that can be of benefit to you. Exchange business cards and write anything you need to remember about them on the back of their cards. Don’t be abrupt, but try not to spend more then 10 minutes with any person. Remember you are there to market your business and to help others. The more people you meet the more chances of forming a few good profitable relationships.Now adays a lot of business cards have a message on the back of them {well so would yours if you were my client} that I always carry a small notebook to write down peoples contact information on, now sometimes i get them to do and other times I make the notes myself.
5. Be sure to ask for leads and referrals. That’s why you’re there. After describing your business to someone ask “who do you know - who?” and describe your typical customer. It might be that person or you remind him/her of some one who could be your next big customer. As you get leads, write them down and follow up fast as possible.And remember to mention the person that referred you as it is often a good ice break and it pays value to that connection as well.
6. Always remember the Great Law of Life: (What goes around comes around.) If you want to get referrals you need to give referrals. Reciprocity is the basis for all good relationships and it’s especially true in business. When someone sends a customer to you, acknowledge it with at least a thank you note. A small gift is even better and sending him/her a customer is better yet. Keep in touch with those you network with. If you see an article or item of interest to them clip it out scan and email it or fax it to them. Finally, When you refer a customer to a business make sure it’s a quality business. If The customer gets poor treatment, it’s going to reflect poorly on you.
*Note just collecting loads of cards and thinking that you are building a huge network isn’t TRUE networking, far better to collect less cards and develop more relationships whereby you are actively promoting each other to your broader client base..now there’s a whole other story “Joint Ventures” and we will cover that another day.
Remember” People Do Business with People They Know Like and Trust” Your job/mission is to make sure that is YOU.
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About the Author: Axel Henriksen, Chairman, is The Owner of Axelhenriksen.com Web-Site-wizards.com. Millionaire-makers-international.com.
Master Licensee of Myprofile Online Psychometric Testing. Axel has 45 years experience in Manufacturing, Financial Planning, Sales, Copywriting, Certified Coach.
http://www.copywritingwizards.com
http://www.onlineofflineinformationmarketing.com

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