Why network?

I believe it to be Dennis Waitley that said “pretty soon if you aren’t networking you will be not working.”  Honestly I couldn’t agree more.  But why am I so emphatic about networking as a marketing method (frankly it’s the top method in my opinion)?  In short I believe that proper networking speeds up the sales cycle.  Below are a few thoughts:

  • some research shows that cold calling, along with direct mail, only has a 1-2% success ratio; if your lucky perhaps as high as 8-10%
  • with those kind of ratios it would take you a minimum of 10 calls to qualified prospects before you land a single client
  • through proper networking activities and practices I currently have a 50% close ratio in my business

Now it can be argued that closing ratios vary based on industry, product versus service, etc.  Networking speeds up the sales process because good net-workers understand the power of introductions.

You see I don’t allow business associates to give me a referral for which they are not willing to personally do a face-to-face, or at least by phone, introduction.  Once the introduction is made a leverage that meeting in order to get a more formal meeting.  Have you figured out how I make the transition to the next meeting?  I invite the prospect to “gograblunch”.

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About Jonathan Patrick

GoGrabLunch.com connects like-minded business professionals over face to face, one on one appointments based on each member's preferences.

Posted on October 25, 2010, in Networking and tagged , , , , , , , , , , , , . Bookmark the permalink. Leave a comment.

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