7 reasons why networking is not working for you
If you were ever part of a networking organisation or even just attended a few more informal network meetings, you will no doubt understand the benefits it can bring to your business. But why does it happen that you don’t succeed in expanding your client base with all the effort you put into attending all these events?
We found that there are a few key factors influencing your success rate. Even with all the time, money and effort you put into making the most of this valuable building block for you company, you still do not get from it what you need to. Here is why.
Your focus is only to gain new clients and you think the people you meet are your next clients.
Not all clients are ideal clients but still we try to do business with everyone crossing our paths. This desperation can sometimes cause us more harm than enhancing our business. Nobody likes to spend time with someone trying to sell their business to you constantly. It is in fact more of a repellent than a great marketing effort. Also, the people you meet at a networking event are not necessarily your clients, very few of the times they are. The key is to get introductions to their wider contact sphere. Word-of-mouth introductions are the most powerful way to gain new, returning or long-term clients.
You spend too much time trying to get to all networking events and too little time in your business.
Time away from your business can sometimes cost you more than you bargained for. Ever calculated your hourly rate as part of the cost of a networking event? It soon becomes a substantial amount that not everyone can afford. We all know that we should work on our businesses and not in our businesses, but if you are like several other business-people I know, your involvement in your business’s daily tasks is quite a necessity. This is not always sustainable over the long run, and for networking to work, you need to make a long-term commitment.
You don’t know who you want to meet – you don’t know your ideal client or have the name of a person you want to meet in mind.
If you go to a networking event without a plan, you can just as well call it a social gathering. Know who will be attending the event and do your homework on who they are connected to. It is a valuable opportunity to get introduced to your ideal clients. First of all, of course, you need to know your business and what you want and need to let it grow. If you fail this part, networking will fail you.
You don’t ask to be referred.
Very little people immediately recognise that they know of a connection they can introduce you to after meeting with you. You are the one who knows your business best and what you need, therefore it is your task to educate others and then ask them for referrals.
You don’t know how to properly explain your business or introduce yourself to others to make a lasting impact.
If you don’t know your crowd or use the wrong type of language (like your industry jargon) or are just not confident enough to present your company in front of others, you will just go by unnoticed or confuse others about what you do. Another opportunity for you to showcase your business will be wasted.
You don’t follow up with those you meet and don’t build a relationship.
This is probably the most important thing that people get wrong. If you don’t make that call you promised or at least get in touch on a regular basis with your most valued new contacts, nothing will come of it. You need to be top of mind when an opportunity presents itself to your contact that might be a great business opportunity for you.
You keep on meeting the wrong people over and over again.
Ever noticed that no matter how many different networking events you visit in a certain area, after a while you just keep on seeing the same faces repeatedly? Great thing if this is the right crowd for your type of business, not so great if this is not the connections you are looking for to expand your business. You need an ever-changing group of people to enable you to really expand your network and increase your chances of meeting exactly the right person.
If you recognise yourself in the above, then NetYourNiche is exactly the right place for you if you want to network, but struggle to do everything right. The NetYourNiche system will take the time, money and effort out of networking, introduce you to exactly the right people via a word-of-mouth introduction and you don’t have to get stuck in a networking circle that just does not grow or change in order for you to reap the benefits of networking.