by Gareth Jules
The Merriam Webster Dictionary defines networking as the exchange of information or services among individuals, groups, or institutions, cultivating productive relationships for employment and business opportunities. Note well that it is not the linking of computers in a work area to perform business functions.
If you look at the word NETWORKING closely you will realize that it comprises of two words: ‘net’ and ‘working’. It can be interpreted as working to build (or net) your catch of opportunities.
The act of networking involves developing business relationships, obtaining new clients through referrals and developing sales and investment opportunities. Networking is a marketing tool that allows you to build useful personal and business connections. It also helps you connect with persons or prospective clients whom you may have had difficulty reaching as a result of barriers such as a lack of an intermediary.
In today’s globalised economy a company is helpless if it doesn’t have the ability or the right attitude to grow its customer base and thereby its profit margins. People have various wants and needs and sometimes they cannot find the right company to satisfy those needs. Through networking people can form connections with other persons who have had a satisfying (or dissatisfying) experience with a particular company and be influenced by those persons’ feelings toward that company. Great customer service is therefore an essential aspect of building your customer base and also for successful business networking.
The following are five valuable tips for successful business networking.
- Differentiate Yourself
If you are trying to outdo your competitors in marketing your products or services, few, if any, potential clients or investors will pay attention to you if you are just like the others. Be a cut above the rest and you will be surprised at the number of persons who will gravitate toward your business because it is UNIQUE.
- Integrity and Credibility
Your trustworthiness and reputation are key. In business you need to have a good image and rapport with your existing customers in order to build your base. Potential customers need to have confidence in your business and feel that they can trust you. They also need to feel a sense of security in their transactions with your company. If your company constantly makes mistakes and delivers a poor experiences to its existing customers this will diminish your integrity and credibility.
- Be Positive and Confident
When interacting with prospective clients, ensure that you are confident and let it show in your speech. Also, make sure that you are well informed about your products and services. If you are unsure of yourself and your ability to deliver, how can you expect clients to want to do business with you or your company, or recommend your business to others? Staying positive and confident without being cocky, always works.
- Plan, Aim and Target
In business one needs to plan. This helps you to determine what you want to achieve and deal with the questions of who, what, when, where and why. Such questions will always arise and it is essential that you are prepared and able to answer them thoroughly. Your plan must also address ways of determining your prospective clients’ beliefs, values, interests, geographic location, the size of a particular market segment and specific sectors. All these factors are crucial for securing a strong customer base.
- Follow Up
When making contacts, ensure that you follow up with them to secure the transaction. In many cases the people or companies you contacted may be so busy, they might have forgotten about their introduction to you. Be sure to obtain contact information during your interaction with them. Networking will produce positive results once you do the necessary follow-ups. Remember, good relationships built on personal integrity and trust can result from following up on any progress you have made while networking.
