NETWORKING
“Creating and Maintaining Mutually Beneficial Relationships.”
Percent of Sales Closed (Source: Sandler Sales Institute / Networking Survival Guide)
1-5% of cold calls lead to a sale
15% if referring person’s name is given
50% if referring person sends an email or calls on your behalf
75% if referring person attends your meeting or teleconference
People won’t do business with you until TRUST is established.
People buy because of personal experience,
recommendations, and connections.
It’s not what you know or who you know,
it’s who knows you, and
what they know about you!
Spontaneous / Strategic Networking:
Chance community encounters / at the Teller’s window
Inside your bank / branch: your employees
Open networking events
Conferences and professional meetings
Appointments with targeted individuals
Following Up: Secure Contact / Offer Value / Be Memorable
Telephone Call Handwritten Card Email
Personal Visit Coffee Letter
Meal Promotional Materials Article
What Value Can I Deliver to Them Without Expecting Compensation?
Who Can I Connect Them With?
Remember to Make it a Habit to “Ping” Your Network Consistently.
Organizing:
1. Inventory Your Current Network: Put information into a Database
2. Determine the Kinds of People You Want in Your Network
3. SMART Goals (Specific, Measurable, Action-Oriented, Realistic, Timed)
4. Networking Action Plan
Sources / Very Helpful for Further Reading:
*The Networking Survival Guide, Diane Darling (2003) www.Amazon.com
Never Eat Alone, Keith Ferrazzi (2005)
*Very Recommended
The Personal Connection
Offer Value and Build Relationships!
First Impressions: a person decides in 3-20 seconds if they like you.
Have Fun: make it a point to enjoy being with people!
“Be Here Now!” Be 100% in the present
Pay attention to the other person...
don’t be doing anything else!
“It’s Nice to See You!”
Smile; Have REAL "Face Value!"
Be Approachable
Use Positive and Friendly Facial Expressions
Watch their Body Language: facial expressions, eyes, and body orientation, movement
Give Good Eye Contact: 70-85%, remember to smile and use facial expressions, tilt head
When You Shake Hands, Look Them Directly in the Eyes: Can you remember their eye color?
Give Verbal and Nonverbal Encouragements: “Uh-huh, hmm, really?, What else?”
In Groups, Include Others in the Conversation
Let Them Finish Their Sentences; DO NOT Interrupt!
Keep Arms Uncrossed
Keep Hands Out of Pockets
Give Them Enough Physical Space (at least 3-5 feet)
Turn Off Your Cell Phone
Always Have Your Business Cards
Ask for Their Card, Then Offer Yours: yours in right pocket -- theirs in left pocket
Always Have a Pen and Something to Write on (carry a Sharpie for name badges)
Take Notes
WIIFM: Radio Station "What's In It For Me?"
Establish Rapport Before You Offer Your Value Proposition
Get Information First! Ask questions to learn about them and their needs...
before you state your value proposition and/or need.
Ask “What” and “How” questions
Be Quiet and Listen After You Ask a Question
Remember Their Name: repeat it, spell it, use it, associate it, write it down, ask its derivation.
Help Them Remember Your Name: describe exactly what you do and your need,
then tell them your name. (Oh yes, also give them your card!)
Share Value Statements:
“I help people improve their communication and business skills.”
“I work with teams to make them more effective.”
“I teach behavior styles so salespeople can close more business.”
Be Interested:
Learn to Look Beyond Yourself and What You Want from Others.
After you have earned their trust and “made deposits”, you can ask
them to deposit their money and trust in First Tennessee Bank!
NETWORKING