5 Top Networking Tips for Every Business

Networking can be used by every business to make new relationships and find new customers.

 Many networking organisations have electricians, fitters, plumbers and gardeners sitting alongside a variety of manufacturing, tech, services. etc companies.   Networking can be very effective, or it can be a complete waste of time.  Here are our 5 top tips on how to make networking work for you.

1.Know Your Ideal Customer  – You must know your ideal customer (also called your target market) before you go out networking.  Who do you want as a customer?  You need to answer this question before you start networking or doing any type of marketing. No business wants anyone and everyone as a client. If you work with businesses, then you need to consider: 

Industries/ Sectors * Size of company (turnover and employees) * Location   Our recommendation is you focus on no more than 3 industries as this allows you to focus on these.   If you sell to individuals, then you need to define their:
Age range - different ages respond to different messages and marketing channels. Income - can they afford what you offer or are they looking for a more premium offering?
Locations - where do they live, where do they work and where do they spend their free time?   The more specific you can be the better.  In both cases, you need to know what they want the most from you.

By answering the above, you can focus on your target market. 

2.Where You Network –  Once you know who you want as a customer or client, it is much easier to decide where to network.  If you work with private individuals, then business breakfast groups like BNI can be very useful.  It is important that you visit and pick the best breakfast group for your business as this depends far more on its individual members than the brand name behind it.

If you want to speak to business owners, CEOs and other decision makers, then your best bet is to attend the seminars and conferences that attract them.  They do not usually attend networking events- they leave that to their business development team- but they do attend interesting talks and conventions. 

3.Know What to Say  – You will need to have a 60-second speech for formal networking events.  However, it is far more important to have a 15 second pitch for when you meet people at informal networking events, conferences, seminars etc. Your 15 second pitch is around about 40 very carefully chosen words.

It consists of two sentences: 1. We help (target market) with (your top 3 high level benefits) 2. We do this by (outline what you do) For example, our 15-second pitch is: Naylor Accountancy Services helps local business owners, MDs and CEOs to grow their business, free up their time and minimise their outgoings.

We do this by putting them in control of their finances, automating their financial processes and minimising their tax and other costs. 

4.Start a Relationship  – Networking meetings are not sales meeting.  You should not go with a plan to speak to 10 people, have 3 follow up meetings and win one new client.  This approach works for telemarketing but not networking. With networking, you should go with the target of having 6 conversations with people you have no met before and see how it progresses from there.  You need to develop a relationship before you get down to business.

This target also stops you just speaking to people you already know.  In short, don’t go to sell, go to start a relationship.

5.Follow Up  – The final thing is if you say you’ll call or contact someone, then do so.  You start building trust by doing what you say you will do.  Also ,if you don’t follow up, then you have had nothing but a nice conversation.  

Networking can be effective for any business when done right.  Good luck!