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Becoming a 'FIT' Networker

Written by: Andy Lopata

Article Overview: Do you have a strategy to develop referrals for your business? Or do you just leave it to your customers to refer you if happy? Most businesses will admit that referrals and recommendations are their most effective source of new leads, but most do anything proactive about it. Business Networking Strategist Andy Lopata looks at how you can be more proactive about generating new leads through your existing network.

Becoming a 'FIT' Networker

Becoming a ‘FIT’ Networker

The world is changing and business is changing with it. As more and more small companies and consultancies spring up, the focus in marketing is shifting from the purely traditional approach, and increasing numbers of businesses are realising the importance of word of mouth marketing and networking.

Networking has been around since the first caveman realised that he would find it much easier to slay the woolly mammoth with his neighbour’s help. However, as a concept designed to generate more business, we Brits have been more inclined to wait for things to happen and for people to refer us.

That is now changing. Whilst they still have a role to play in the marketing mix, the traditional routes to market, such as advertising, PR and direct marketing (eg. cold calling and direct mail), are becoming less and less relevant and more and more expensive for many of today’s small business owners.

Although these forms of marketing let people know we are there, networking and word of mouth marketing are far more effective in targeting prospective customers at the time they are in the market for our goods and services. Why would someone be talking about you if neither party has a need for your expertise?

Mark Tomblin of the global advertising agency Publicis was recently quoted in Real Business magazine saying “If someone you respect says ‘you should go to this place’ or ‘you should try this thing’ that is worth millions and millions of pounds of advertising”. This from a Director of a major advertising agency! We like to be referred to providers of services we want to buy, so when it happens we are far more likely to become their customers.

Bearing this in mind, how do businesses strategise their word of mouth marketing? The answer lies in the generation of ‘Champions’ for your business, people who will shout your name from the rooftops and recommend or refer you whenever the opportunity arises.

This doesn’t just happen. To be effective you need to take a cool, focused approach to your word of mouth marketing strategy, ensuring that your business can develop and retain its Champions, building more and more referral business each year.

The first step is to find your Champions. Identify who knows the most about your business, who has faith and trust in you, and who wants you to succeed. Your clients may be the obvious first choice, people who know how you work, what you can do and who have shown themselves to be happy to come back again. But you do not have to stop there.

Many people miss the opportunity that their suppliers offer them as prospective Champions. If they have built up a strong relationship with you, it is quite probable that they have done so with other clients as well. And they certainly have a vested interest in your success – since as you grow, your needs will grow, as will your ability to pay their bills!

Your friends and family also make strong potential Champions. People who want you to succeed and don’t expect anything in return for the help they can offer. How many people do they know who might be in the market for what you can offer, and how often do they recognise that connection?

Business contacts can also be key Champions. From business associates and fellow members of networking groups, even to your competitors who may refer you because of where you are based or where in the business you specialise.

And don’t forget your employees. If they are proud of their place of work and feel part of a team they will also feel a vested interest in your success. And they may then work hard to help to build on that success.

It is not enough though to simply identify the people who can champion you. They need to want to do so, with enthusiasm. So your next step is to find ways to inspire your Champions.

A key way in which to do this is to champion them first. People will feel more inclined to seek out opportunities for you if you have introduced new business to them. Look for other opportunities in which you can help them as well, introducing them to colleagues or offering free professional advice are two typical examples.

In terms of your existing clients, try to go the extra mile, substantially exceeding their expectations when it matters most to them. Most people are more likely to talk about poor service than bad because they make good stories, so you really have to make that extra service count at the right time.

If you want to inspire people to be passionate about your business, it is important that you are passionate yourself. Such passion can be infectious and if people see that you love what you do and truly believe in it they will feel both more comfortable and more motivated to go out and talk about you.

A lot of businesses consider commission agreements when looking at ways to inspire people to refer them. While these have an undeniable place in business, a lot of people feel uncomfortable with being paid a commission. If you are going to use them, make it clear what you are paying and when you are paying it. Does the percentage you offer reflect the value of the transaction or the value of the profit? When is it payable, when a contract is signed or as and when the monies are received? There are a lot of pitfalls to avoid.

The simplest way to inspire Champions is to ask. As the old saying goes, “if you don’t ask, you don’t get” and many opportunities for referrals and introductions are lost because people don’t ask. You need to focus your prospective Champions’ minds on your needs because they have enough issues to preoccupy their thoughts.

Once you have found and inspired your Champions, it is important that they feel that their efforts have been appreciated and that they haven’t gone unnoticed. So make sure, as part of your word of mouth marketing strategy, you thank your Champions. In its own way, doing this acts as another inspiration to champion you further.

The most important thing about saying thank you is that it has the personal touch. Too many bottles of whisky and wine are given out to business contacts who don’t drink. If you are going to treat someone to a meal out or other forms of corporate entertainment, find out what they like to eat or where they would like to go, rather than what you like.

Reciprocating is a great way to thank somebody for a referral or recommendation. Looking out for opportunities for them will often lead to a positive cycle of mutual referral, benefiting both businesses.

But sometimes it is enough to simply say ‘Thank You’ whether it is by telephone, card, letter, email, or in person.

So there you have your word of mouth marketing strategy. Find, Inspire and Thank your Champions – and be a FIT networker.

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