Networking can be an effective way to build your clientele, but unfortunately, not everyone seems to understand the rules of the game. You can't go to one networking event, hand out your newly printed business cards and expect your phone to ring off the hook when you get back to the office. It just doesn't work that way.
As I mentioned in my book, "You're Going To Be Great At This!", I have done a lot of networking, either through my local chamber of commerce or through other organizations. As you can imagine, these different types of networking groups have their own advantages and disadvantages, and what you like about one someone else might not like.
One thing I look for in a networking group is cost. Are you being charged a fee to join? If so, what is it and what kind of a return on your investment (ROI) should you expect? A chamber of commerce can charge you anywhere from $100 a year to thousands, depending on how they structure their dues. When I was working out of my home as a sole proprietor, my dues began around $150 per year, and each year they increased slightly. After five or six years I was up to $300. Still not horrible considering I made the most of that membership.
That chamber based their dues on how many employees worked for the business. A restaurant with a couple dozen people on the staff could pay close to $800. Another chamber in the next town over would base their dues on gross sales, and that same restaurant may have to pay $2500. I visited the other chamber as a guest and quickly realized that most of the people attending their "after hours" were also members of the chamber in my town.
I made the most of my chamber experience by joining their ambassador program. It was a strictly volunteer job but I considered it as part of my work because of the accessibility I gained. Attending ribbon cuttings was part of the duties, so it was to my advantage to show up, meet new chamber members, make a good impression and wish them well on their new business endeavor. Also, there was usually food, and I like food.
The ambassador program also meant that we would help new members at the monthly after hours event by introducing them to the other members, thus avoiding the newbie from becoming a wallflower. I would ask them a little about their business, what kind of people they wanted to meet (construction, medical, financial, etc) and do my best to help. Most people were gracious of my efforts and that helped me build rapport with them down the road.
As an ambassador, I was assigned a list of 60-75 members to get in contact with each month through email. I would give them a current calendar of events, which they were already getting from the chamber, but in my emails I could include a quick commercial about my business. "We have a ribbon cutting at Frank's Hot Dog Stand, and I can help you with your life insurance!" is what some of the emails amounted to. Not fancy, but it kept me top of mind with my members.
This is your goal when networking. You ultimately want to stay in the head of the potential consumer, because they may not be in the market for what you are selling today, but a few months down the road they may have a need that you can help them out with. Building that trust and rapport through a chamber or other networking organization can pay in spades if you do it correctly.
In the next post I'll cover a couple of other types of groups you can consider. In this environment of Covid-19, networking has changed and we need to keep our options open. And as always, stay healthy.
Chris Castanes is a professional speaker who helps sales people succeed through workshops and humorous presentations. He's also the author of "You're Going To Be Great At This!", a humorous look at sales. For booking information, click here. He's also the president of Surf Financial Brokers selling life and disability insurance in several states.
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