Create a Network of Colleagues, Cronies, Clients and Friends

The title for this thread is from an article by Susan RoAne in the local real estate magazine that came today. In the article she wrote, "The most powerful people aren't necessarily those with the biggest titles but rather those with the biggest rolodex files". I've seen that some people are really for or really against networking. Is networking the holy grail of lead generation? -realtor

I don't know if it's the "holy grail" but it sure can be a major lead source. -Skip Anderson

Skip do you think one lead source, besides networking or referrals, consistently outproduces others? -Marcus

I don't know the answer to that question, Marcus. My guess is that it probably depends upon the particular industry and the particular type of selling. -Skip Anderson

You are probably right. thmbp2; -Marcus

"Is networking the holy grail of lead generation?" -- realtor

If the next person I sponsor into my company has a huge center-of-influence who: 1. sees the value of my products and wants them, 2. wants to create a stream of over ride income, 3. does what they are told - that person and those he/she sponsors and many in the network will flourish. Some will be able to be earning millions of dollars provided they do the right things - no guarantee but the template is precise.

Likewise, if the next person I sponsor has little to no center of influence creating that same income potential will take extreme focus and prospecting most people will never do. Most people even with a solid center-of-influene will either.

In my case I had to hustle and get very focused.

I don't believe networking is necessarily the holy grail of lead generation - it can help and of course in my business "network marketing" it's all about networking in a precise way.

People with huge centers-of-influence have come about that circumstance in many ways - and some huge centers-of-influence meaning (lots of people known) don't necessarily mean lots more success.

There is no holy grail like that ultimately but there can be.

MitchM -MitchM

I'm really thinking I need to start making better use of my contacts. I'm reading "Networking Magic" and have found some great ideas. -Thomas

Developing new relationships isn't all that easy. You have all given me a lot to think about. Thank you. -realtor

Every selling situation is different and I imagine none of us have been in every selling situation but it makes sense to think there's enough uniqueness to situations that one shoe doesn't fit every size.

Likewise, personality also can dominate a selling situation as well as type of industry and type of product.

Be that as it may, networking will be what each individual makes it out to be - I'm not speaking strictly of network marketing now. I've watched people spend years doing what they considered to be developing relationships in the hope that relationships would one day translate into sales. For most it never does.

Those same people would have been better off picking up the phone and cold calling three hours a day or cold knocking three hours a day disqualifying everyone not needing, wanting and willing to buy today. Then round two and so on.

Lead generation comes in many ways and it's a cliche but true to say: hey, just sell. BUT that still doesn't answer HOW.

MitchM -MitchM

Hi All:

Great insights by everyone. For me networking is just a 'piece' of the total marketing pie. I consider it a necessary part of my overall marketing efforts and I do attend business functions related to my field. I pay special attention to who may possibly provide me with future business and strike up conversations with them. We usually end up exchanging business cards and I move to the next person.

A day or two later I will send a 'handwritten' thank you card to the people I met at the event and thank them for speaking with me. No one I meet ever sends me a thank you card and I know this surprises them. In the thank you card I tell them I'm going to call them in a couple days and see if they would like to meet for lunch and talk about how we could create new customers for each other. Almost every one of them accepts because I tell them the lunch is my treat. We all like free lunches.

From these lunches I have created many new relationships and gained many business partners who send me new customers on a regular basis. I do the same for them. It's a win-win situation and has brought me tens of thousands of dollars in new business and it only cost me a thank you card, a stamp, and a lunch.

Again, networking should only be a part of your overall marketing campaigns. But it can a very powerful part if done right.

Thanks...CoachDoug -Dougd55

I think you are on to something with your statement regarding Networking. When the internet first started there were a handful (actually more than a handful) of people who went out and accumulated thousands and thousands of domain names. Why? Well for the most part they knew that it seemed like a valuable thing to do but weren’t quite certain at the time how they were going to monetize their newly acquired assets. I think if we look at a Networker in a similar fashion and treat their rolodexes as assets, then acquiring additional contacts for ones rolodex is synonymous with building up ones assets. Never a bad thing.

Lead generation has always been about ‘finding the right person’. This started with cold calling off the yellow pages and now we have access to better directories from Spoke and Hoovers. But neither Hoovers nor Spoke could get you in the door. The person networked to your target lead can. All you need to do is to figure out a way to provide enough incentive for that person to make the introduction for you. -Evan Sohn