Following Up on Networking Leads
You return to your office after attending a networking function and think to yourself, “Wow, I made so many great contacts, that was a successful event.” You feel satisfied as you add the many business cards you collected from potential customers, vendors, and referral partners to the ever growing stack in your desk drawer –proof positive that networking is generating solid leads. Yes, the decision to attend business luncheons, conferences, and evening mixers is really paying off. Just look at all those cards; the business will start pouring in now… right? Well, not quite yet.
The good news is that getting actively involved in targeted networking groups is a crucial step in growing your business. Becoming a known entity and respected member of your business community definitely makes a difference. People simply need to get to know you before they’re comfortable doing business with you. The not-so-good news is that networking alone doesn’t generate sales, it’s just the beginning of a multi-step process that will ultimately translate into revenue. Here are some sobering statistics to bring reality to the forefront:
· Only 2% of sales are made on the first contact.
· 3-10% of sales are made on the 2nd to 4th contact.
· 80% of sales are made on the 5th to 12th contact!
Many marketers have tracked the number of contacts or “touches” required to get to a sale, or even a face-to-face meeting with a prospect, and the numbers vary. Even so, one thing is consistently clear, you can count on it taking at least six contacts to get anywhere with a prospect, and this can be a time-consuming process.
As you might have inferred, there’s quite a bit more work to do in order to convert those contacts into clients. Unfortunately, there is no EASY button, however there is an easy answer – follow-up. Yes, it’s time consuming and requires patience, but without follow-up the time you spend networking is essentially wasted. Persistence coupled with a solid follow-up campaign undeniably pays off.
A good follow-up plan includes communication, relationship building, information – not solicitation – and most importantly, determination and diligence. The first step is to build a lead follow-up process and make it consistent; the rest is a series of steps that combines planning, creativity, perseverance, and commitment. Some examples of ways to “touch” prospects are:
- Send email to follow up on the conversation you had or to simply say you enjoyed getting to know them
- Make an introduction to someone you think they should know.
- Add them to your network by connecting on Twitter, Facebook, and LinkedIn.
- Invite them to sign up for your eNewsletter.
- Send a handwritten card.
- Give them a call.
- Send them a gift (pens, stickers, notepads, etc.)
- Leave them with a reason for you to follow up with them, like sending contact information for a vendor you use or an introduction to a potential client.
- Send them an article you think might be of interest to them.
- Add them to your holiday and birthday card mailing list, and send some form of greeting card at least quarterly.
As you’re staring at the ever-growing stack of business cards, the idea of follow-up may seem daunting. But you’ve spent your valuable time meeting those prospects, so don’t let your efforts go to waste. It’s time consuming, yes, but critical to growing your business. Need more time to get it done? No problem! Hire a Cybertary to craft and maintain a follow-up plan, leaving you free to keep networking and generating leads to grow your business.
