Eight Easy-to-Apply Networking Strategy Steps

Hello ECN readers! It’s good to be back for our monthly class. TradeShow Teacher is here with your next lesson – and more homework, too, of course. Did you miss me? For those of you who answered “no,” well you should have! (You’ll see why shortly.)

Let's start by getting a show of hands. Who's interested in learning how to rapidly grow their business? How about increasing revenue? Good, almost all of you!

Now that I have your attention, let's explore how networking can help deliver those results. I imagine you may be wondering, "Why do I need to learn how to network? I go to events, shake hands, chat a bit and get a business card, then move onto the next contact. How hard is that?"

Does that sound familiar? If you said yes, pay close attention to this lesson. In it, you will learn how to network effectively and build business relationships that turn into "referral machines!"

Networking skills can be applied to any event you attend so long as you're not alone and can find a way to communicate with other people. But this lesson will focus mostly on networking opportunities at tradeshows, using this month's EXHIBITOR show for examples.

Examples of networking opportunities at EXHIBITOR and where to find them:

Start by looking for networking events pre-show. A page on the official EXHIBITOR Web site, (www.exhibitoronline.com) titled "Networking Opportunities and Orientation," lists these events. (At the show, check the show guide.)

Note: Other show sites typically have lists of networking events, but perhaps under a very different title than that of the EXHIBITOR event listings.

Add such events to your calendar and practice skills learned in this lesson and its homework.

Target events listed on the EXHIBITOR Web site include:

-  Opening Reception

-  Welcome Reception

-  Dinner with Strangers

-  The Square

-  Peer2Peer Roundtables.

-  Watch for exhibitor-sponsored events as well. Invitations may come by snail mail or e
   mail, or may be given out at the booths.

For example, Exhibit City News will be holding a “can’t miss” party/networking event at 40/40 at the Palazzo on Tues. March 11 from 9 p.m. to 1 a.m. You’ll need to visit ECN’s EXHIBITOR booth (#1973), or another event sponsor’s booth to get an invite (see page B24 of Exhibit City News’ March issue). Or you can contact ECN or another sponsor directly.

Now that you know where to find networking events, it's time to learn about networking strategies. Why not fine-tune time you spend networking to reach your most targeted contacts?

Why Network?

The simplest way to approach networking is with two primary goals:

1. Get to know people: (Ask questions about their business and how you might help them.)

2. Get them to know you. (Tell them about your business and how they might help you.)

Tip: Keep the 80/20 rule in mind: Listen 80 percent of the time; spend only 20 percent talking. By following this simple advice, you'll learn a lot about those you meet, which can help you determine which new acquaintances are the qualified contacts you'll build relationships with.

As you can see, the goal of networking is to build relationships - not just grab as many business cards as possible by the end of the event! When you take the focus away from trying to get business from those you meet and focus on building relationships, people are more responsive. Later on, they'll become "referral machines," opening doors to include you in new or developing business opportunities. Just remember, it's important for you to return that good will by giving referrals to them as well.

Key reasons for building relationships through networking are:

-  To partner your products/service offerings.

-  To refer business to each other.

-  To have people to turn to for advice on a variety of topics.

-  To exchange ideas.

HOMEWORK

Create a Networking Plan:

Would you go into a business meeting or conduct a presentation without properly preparing beforehand, just leaving things to chance? No. Then why would you leave your networking opportunities to chance? By formalizing a networking plan, you'll reach key contacts rapidly and start attending targeted events (just as you should be exhibiting at targeted tradeshows to meet key prospects).

For this month's homework, you'll be creating a networking plan. Follow these eight easy-to-apply networking strategy steps to get started:

Step 1

When considering whether to add an event to your networking plan, take time to learn about the event's focus and who will be there.

You must pre-determine whether or not the event attracts your targeted types of attendees - those with whom you can form business-enhancing relationships. Ask yourself:

-  What will occur at the event?

-  What types of people will be there?

-  Do these people have businesses I can help? And can they help my business?

-  Ask if a list of attendees or companies is available. If it is, review the list.

Step 2

Once you've determined targeted events to attend, create lists of people you'll want to meet at each event.

-  Assemble lists by title, company, industry, etc., and/or specify names of contacts you've
   learned about from other sources.

Step 3

Create a pre-determined list of open-ended questions for new contacts. A ‘Top 10' list:

1) What does your company do?

2) What industry or industries does it serve?

3) Who are your key prospects/clients?

4) What types of products (and/or services) do you offer?

5) What is your competitive advantage?

6) What got you started in this industry?

7) What do you enjoy most about your job?

8) What trends do you foresee in your industry segment?

9) What marketing/sales activities have you found to be most successful for your business?

10) Can you refer me to someone that does ___?

Tip: Use the phrase "tell me more" often in the conversation - and mean it!

Step 4

Prepare questions you can use to ask for specific types of referrals.

-  Is there anyone here you can refer me to who needs a ____ type of product (service)?

-  I'm hoping to meet with ____, can you point me in the right direction?

-  Can you suggest people I can speak with about ____?

-  One of my goals for today is to meet someone who does/supplies (XXXX). Do you know of
   anyone here who fits that description? And can you introduce me?

Step 5

Find ways to make introductions for other people. (If this doesn't come easily to you, memorize facilitating statements for this purpose, especially if you're a bit shy or new at this.) Examples:

-  Let's work the room together and see if there's anyone here I can introduce you to.

-  Your product/service seems like a good fit for XXXX. Let me introduce you.

-  This speaker was very interesting, so let's go introduce ourselves. I want to tell him/her
   about your product/service.

-  Let me introduce you to an associate of mine who may know about that.

-  My friend XXXX is here. Let's go say "hi" and I'll introduce you.

Step 6:

After making contacts, evaluate them!

-  Very simply, ask yourself: Can I help them and can they help me? When considering
   whether or not new contacts can help you, remember the purpose of the relationship isn't
   merely to get their business - it's to get business from everyone they know!

-  If the answer to this key question is "yes," then go on to build a relationship with the
   contact!

Step 7:

After determining the most valuable contacts, build relationships with them!

-  Learn more about each contact's business, products and personal interests. Consider
   setting up an initial face-to-face or telephone appointment of between 15 and 60
   minutes.

-  Further educate the contact about your company and its products or services, and your
   personal interests as well (as appropriate).

-  Touch base often, and get together in person whenever possible

-  After you've built a relationship and developed a level of trust, introduce the contact to
   other people with mutual interests. In turn, most contacts are likely to do the same.

-  When looking for referrals, vendor recommendations and general business advice, you'll
   be able turn to your newly expanded base of contacts!

Step 8:

Do relationship maintenance.

Just it takes work to maintain relationships in your personal life, maintaining business relationships also takes work. Keep these tips in mind so contacts don't "break up" with you!

-  Touch base often, particularly with your most valuable contacts. Go to lunch or dinner,
   attend an event together, or simply pick up the phone and chat a bit.

-  Check in with all contacts periodically to maintain the relationship. Even a simple quick e
   mail or card will do the trick.

-  Remember to prioritize contacts every so often: As your contact base grows, evaluate
   which contacts you should be in touch with frequently and which require attention just
   periodically.

Some of your contacts will turn into close, long-term friendships! For example, a contact I met many years ago on a press tour is now affectionately known as my "step-dad," and he was as proud as my real dad watching me get married last summer! I can turn to him, as well as to my base of other valuable contacts, whenever I need business advice, vendor recommendations, or even something as simple as a good restaurant suggestion for a particular city.

The networking methods I've shared with you in this lesson have been a cornerstone in building TradeShow Teacher. Contacts I've built relationships with over the years now send me a stream of steady referrals partly because I didn't spend time "selling them" on using my services.

Many of my most valuable contacts have never been my customers! However, I take time to help them, and they in turn take time to help me by referring business. In fact, I just received two such referrals today - one for a booth-staff- training program and one to present a seminar on networking skills.

As you can see, networking can be very powerful! So create your networking plan, then go out and build some relationships through networking. Contact me at linda @ tsteacher.com (This e-mail address is being protected from spam bots), to share your networking success stories or just to introduce yourself and say hello!


Linda Musgrove, the TradeShow Teacher helps companies improve their Trade Show Results through customized Educational Trade Show Marketing Programs; with programs for individuals, or entire departments and with the Trade Show Training Manual she authored, titled: Trade Show Training, for Increased Return On Investment. Visit http://www.tsteacher.com to register for the FREE Trade Show Tactics Newsletter! Call (888) 547-7410 for a FREE consultation.
 

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