Measuring Value for a Networking Group
February 22, 2010
How do you measure a group’s worth to your organization?
It is sometimes necessary to measure the value of a group. You may be asking yourself why you would want to measure the value of a group whose purpose is business. You would want to measure the price of membership vs. the business you will get out of the group through either referrals or direct business with members. There are several ways that the measurement can be taken. First, you will need to assess the current membership. You should develop a scale of 1 to 10 and give each member a rating based on a set of predefined criteria. What criteria should you use? That will depend entirely on your goals for belonging to the group. For example, if you are selling services for repairing computers, you may rate members by the number of computers they have at the workplace, and you may also add a factor for who they are currently using on the servicing side. It is best to define at least 3 criteria for a sampling of the members. You will not want to measure every member, but a small cross-section will do. Second, you should measure the amount of business each member (or a sample of members) has received by joining the group. You may also want to know how much business they do with other group members as well.
Networking Group Loyalty Requirements
January 4, 2010
How can you find out the group loyalty requirements before you venture forth?
Many groups have loyalty requirements in order to make sure that the leads you generate are exclusively for the members of the group. It is important that you make sure you know everything about the group before you join, and loyalty requirements can put a damper on other activities you have planned. If you find a group that does not have any requirements for loyalty, then you will have to interview members to see what other groups they belong to. If there is no focus on your group, then the leads will likely be watered down. Loyalty that excludes organizations such as Chamber membership or speaking groups should not be on the list of acceptable groups to join. Loyalty should be restricted to other leads groups. Make sure that others who belong to the group do buy into the loyalty issue. Often when there is a rule, someone will take advantage and belong to other groups in a different area. Loyalty will prove to be the making or breaking of any group.
What a Leads Exchange Group can do for You
November 15, 2009
What is the definition of a leads exchange and how does it differ from other groups?
So what is a leads exchange? A leads exchange comes in several flavors; first the exchange usually has exclusivity restrictions so that you remain loyal to only one group. This way the printer and the chiropractor that belong to this group will only think of you for a particular service or product. They will essentially promote your business as part of the membership requirement: to generate leads for others as well as get leads in exchange. These types of groups are plentiful and can work for you or against you. If you have done your homework and the group is active in the areas that you would like to be known, then this type of group will work well for you. If you work in an unusual business, it may be more difficult for others to find leads for you. This type of group will expect that you have defined your best customer and have given them the tools they need to seek out business in that area.
Social Network Software
September 27, 2009
My neighbor ? a lovely man I’ve known, and have had social contact with for years ? is the COO of one of the world’s largest companies. He’s read my books, is familiar with my concepts, and is a fan. But we’ve not talked shop due to our social connection.
One day he called me and told me he wanted me to speak with his new national VP of sales ? that he wanted my ideas and methods to be used in his company. Wonderful. Especially since it all came from him.
The VP called me days later at my friend’s request, and we had a great phone contact: he said he was familiar with my concepts and was interested in a conversation, and he invited me to his office to spend some time. It was one of the only times in my life I flew to a client site for a face-to-face prospecting visit. In my mind, this was a very hot lead indeed.
When I got there, it became apparent he was setting me up to show the COO that he didn’t need me, didn’t need my material, and was fine, thank you very much. He was curt, rude, and, frankly between us, rather stupid in his remarks.
Examination of Discovery - Finding the Right Networking Group
August 5, 2009
Why would I pick this group over another group?
How many business leads groups have you heard about? I have heard of dozens and each has a group of 20 or more people. The problem is that they often have restrictions on the number of people in a particular category. Fortunately or unfortunately, this limits the number of groups that you can choose from. Sometimes a group will have several Chapters, especially when one group gets too large and people in the same category want to join. These splinter groups are often small to start with and then find themselves on the same treadmill. So how do you find the right group for your business? I suggest that you get invited to several groups and test the waters.
Even if you have the same category as someone else, you should find a way to be invited. You will not find out about how the meetings are conducted and how leads are handled unless you become a participant at one or two of their meetings. Let the group know that you are looking for the perfect group to join and are researching how business is handled. You can also find out a lot about a group by contacting current and past members.
Write It Down!
June 20, 2009
Why would you want to write information on paper when you have a business card in hand?
Putting it on paper can mean a number of things. It can simply mean putting notes on the back of someone’s business card, or it can mean to take extensive notes in a notebook. Which ever method you choose, be certain that the notes can identify who it was that you were conversing with. Nothing is more embarrassing than talking to a person sometime in the future and finding out you are talking about something they know nothing about.
If you remember some of the Leslie Nielsen movies, he starts talking with a business executive about a project he is starting. He mistakenly identifies this person as the one that hired him. As you can imagine, by the end of the skit, Leslie Nielsen is trying to hide and disappear until he can find the correct individual. Name recognition in this case was the difficulty. Here is another example: a buyer from a company walks in and says he wants to order the usual and then walks out. If you do not know who he is or cannot remember his name, that order may never be filled - total embarrassment for the sale person. The same can happen to you if you do not take the time to write it down on paper. Meticulous notes are not necessary, but if you want to remember, you must put in some key factors that will jog your memory in the future. Practice going back to the person at the same event and repeat their name and go back to one of the points they made.
How to Collect Business Cards
May 1, 2009
Why the business card grab is not why you are there? So how do you obtain the card and show interest that gains confidence?
One of the things I am also always asked is, “How do you collect cards?” and "What do you do with them when you get them back to the office?" What really happens when you collect business cards? Often they get put into a pocket with many others. Have you ever collected cards to later find out that you have no idea who the person was? This happens all the time. It is probably better to pick a few good leads rather than collect everything (sometimes that is difficult to do if people trade cards with you). Choose one pocket for the timely leads and carry post it notes to add information.
Plan for the Event or Flounder
March 9, 2009
Rather than being there to eat the food and drink the drinks, planning before attending an event will change your view.
Have you ever attended an event and seen all the people gravitating towards the food and the drinks? That is the first thing people seem to go for. Well, it is natural, especially if you are there alone and do not know anyone. It seems that food and drink are there for comfort. It is really difficult to talk to anyone with a mouthful, so if you can, stay away from the food, but certainly go and get a drink. You can still give your pitch with a drink in hand.
Take a look at your calendar before you head off to one of these events. You will need to know from memory when you are free for a follow-up appointment. This is part of the preparation you need to do before getting there. Then you can make a date and know there is no conflict with other items on your agenda. Nothing is worse than setting an appointment and finding out that you already have scheduled someone else in that time slot. It may seem like a good excuse for a follow up, but it usually does not bode well with a potential client.
Practice Makes Pefect
January 19, 2009
What is the problem when people try to describe what they do and they stumble over their words and never consistently repeat the same message?
Have you ever gone to a networking event and the person next to you is trying to describe what they do and they keep miscuing the words? This happens so often at these events. The major problem, besides focus, is the fact that they have not practiced their spiel. Why is it that they do not practice? Quite often you feel self-conscious when trying to practice in front of a mirror and others are around to hear you try over and over again. The solution is to make sure you have a door closed where you cannot be disturbed. Or you may decide that taping yourself (audio only) or videotaping yourself to hear and see how you look while making the presentation. This is how the professionals do it. They practice and practice until their presentation is smooth. Did you know that Robin Williams takes at least 37 tries on any movie set before he feels that his performance is up to par? He is a seasoned pro, yet he still practices all the time. Could you also imagine Michael Jordan not practicing throwing balls into the hoop?
Ask for What YOU Want and Gain More Business
December 4, 2008
Why ask others for help and what do you gain from it?
What does asking for help have to do with creating business relationships and making announcements? It has everything to do with it. You have made announcements, donated items, created an awareness of who you are and what you do. You are now in the position of getting more business than you can handle, or worse, not getting enough business in the community. You should then be able to call on prospective customers and ask for their time to help you solve a particular problem. The problem must be one that they will be able to help you solve before you ask for their time. For example, you could call a business and ask them if they could help you answer some questions about handling a situation you have and that you know they have handled well in the past. You will almost always get a yes to setting the meeting.
