Your business cards are useless
Networking only equals temporary visibility if you don’t follow this law
Introduction
Have you ever noticed how a simple act of kindness often leads to another? This isn’t just about good manners; it’s a fundamental principle that can reshape your professional journey. Welcome to Day 2 of our “30 Days of What to Do on Social Media” series. If you missed Day 1, I highly recommend checking it.
Today, we’re delving into the Law of Reciprocity and its pivotal role in personal branding, especially for executives. This principle is more than just a social nicety; it’s a powerful tool for fostering trust and cooperation, essential for building and maintaining your personal brand equity. Our goal? To explore how you, as an executive, can strategically use this law to not only enhance your personal brand but also to forge stronger, more authentic professional relationships.
Law of Reciprocity in the race for visibility
Let’s break down the Law of Reciprocity in simple terms. It’s like a boomerang effect in social psychology: what you give out, often comes back to you. In a professional setting, this means if you help someone, they’re more inclined to return the favor. It’s not just theory; it’s a practice deeply rooted in our social interactions.
Consider this: A study by the American Psychological Association found that people are more likely to help someone who has previously helped them, even if the original help was unsolicited. This principle is not just about expecting something in return; it’s about building a culture of mutual support and cooperation.
In the business, the Law of Reciprocity plays a crucial role. Ever been to a networking event where you shared a useful contact with a colleague, and a few weeks later, they introduced you to a potential client? That’s the Law of Reciprocity in action. It’s not always immediate, but the principle stands: your generous actions often lead to reciprocal ones.
This principle is even more relevant in our interconnected world, where social media and digital communication have bridged distances. LinkedIn, for example, thrives on this law. You endorse someone for a skill, and there’s a good chance they’ll return the favor. This isn’t just about accumulating endorsements or connections; it’s about creating a cycle of mutual benefit and respect.
A real-life example can be seen in the story of Sara Blakely, the founder of Spanx. Early in her career, she reached out to several seasoned entrepreneurs for guidance. Many offered their advice without expecting anything in return. Years later, Blakely became a billionaire and openly credits those early mentors, often advocating for their projects. This is reciprocity at its finest — a cycle of giving and receiving that elevates everyone involved.
What is personal brand equity?
Personal brand equity is like your reputation currency in the professional world. It’s made up of four key components: recognition, respect, influence, and trust. Think of it as the sum total of how people perceive you in your professional sphere.
Recognition is about being known in your field. It’s not just about fame; it’s about being acknowledged for your expertise and contributions. Respect is earned through consistent, quality work and ethical behavior. Influence is the ability to impact the decisions and opinions of others. And trust, perhaps the most crucial, is the belief people have in your reliability and integrity.
Consider Indra Nooyi, the former CEO of PepsiCo. She’s a household name in the corporate world, not just for her role at PepsiCo but for her thought leadership and impactful decisions. This recognition didn’t happen overnight. It was built over years of consistent performance and visible contributions to the industry.
Personal branding extends beyond your LinkedIn profile or Twitter handle. It’s about how you interact with others, how you conduct business, and the value you add to your network. Every interaction, every piece of content you share, and every decision you make adds to or detracts from your brand equity.
Take Elon Musk, for example. His tweets can influence stock markets — that’s the power of his personal brand. But it’s not just about being influential; it’s about the respect and trust he has built over time. Musk’s personal brand extends beyond his companies; it’s a reflection of his vision, his risk-taking ability, and his commitment to innovation.
Give and take
Networking is not only about exchanging business cards or LinkedIn connections; it’s about building genuine relationships. And here’s where the Law of Reciprocity shines. When you help others, they are often more inclined to help you in return. This doesn’t mean you should help with the expectation of immediate returns. True reciprocity in networking is about creating value without keeping a score.
Let’s look at Sheryl Sandberg, the COO of Facebook, and her concept of ‘Lean In Circles’. These are small peer groups that meet regularly to learn and grow together. Sandberg’s idea is a prime example of reciprocity in action. By fostering an environment where professionals support and mentor each other, they all benefit collectively. This approach not only elevates individual members’ careers but also enhances their personal brand equity through association and shared knowledge.
Another practical example is from Adam Grant, author of ‘Give and Take’. Grant talks about ‘five-minute favors’ — small, manageable acts of helping others without expecting anything in return. This could be as simple as making an introduction, giving feedback, or sharing a resource. Over time, these acts of kindness and professionalism can significantly impact your network’s perception of you. It’s about being a giver, not a taker, in your professional relationships.
On Social media, engaging with others’ content, sharing insightful articles, or even offering words of encouragement on a post can go a long way. For instance, a LinkedIn study found that professionals who regularly share content are 45% more likely to exceed quota. This isn’t just about sharing your achievements; it’s about contributing to your network’s knowledge and success.
Consider Dharmesh Shah, co-founder of HubSpot. He’s known for his active presence on social media, where he frequently shares knowledge, engages with followers, and supports other entrepreneurs. This approach has not only built his personal brand as a thought leader but has also helped cultivate a community of loyal followers and potential collaborators.
Be authentic, even if its scary
In a world where digital interactions often outnumber face-to-face meetings, authenticity becomes a precious commodity. Authenticity in digital networking is about presenting yourself truthfully, which can significantly enhance trust and reliability in your professional relationships.
Consider Brené Brown, a research professor and author, who emphasizes the power of vulnerability in leadership. In her book “Daring Greatly,” Brown advocates for showing up as your true self, even in professional settings. This concept is vital in digital networking. When you share your challenges and learning experiences, not just your successes, you become more relatable and trustworthy.
When networking digitally, it’s easy to fall into the trap of curating a ‘perfect’ professional image. However, showing only your achievements can create a distance between you and your network. A study by Sprout Social found that 86% of Americans believe transparency from businesses is more important than ever. This extends to personal brands as well. People want to connect with humans, not just a list of accomplishments.
Authenticity also means being consistent in your communication. It’s not just about what you share, but how regularly you engage with your network.
Tell your story — but think twice
Storytelling is an art form as old as time, but its application in digital networking is a game-changer for modern professionals. Strategic storytelling in a digital context means sharing your experiences in a way that is engaging, relatable, and relevant to your audience, thereby forging stronger connections.
Simon Sinek, a motivational speaker and author of “Start with Why,” illustrates the power of a compelling narrative. Sinek suggests that people don’t buy what you do; they buy why you do it. Applying this to digital networking, when you share your ‘why’ — the reason behind your passion and work — you resonate more with your audience. For instance, a marketing professional might share a story on LinkedIn about what drew them to the field, perhaps a childhood fascination with ads, creating a personal connection with their network.
In digital networking, your stories shouldn’t just be about personal success; they should also include lessons learned and challenges faced.
Finally, it’s essential to remember that storytelling in digital networking is not a one-way street. Engaging with your audience’s stories is just as important. Responding to comments, sharing insights, and even acknowledging similar experiences can deepen connections and make your digital networking efforts more fruitful.
Your network should grow with you
Embracing a growth mindset, a concept popularized by psychologist Carol Dweck in her book “Mindset: The New Psychology of Success,” is crucial in digital networking. A growth mindset believes in the potential for fundamental abilities to develop over time, which is particularly relevant in the ever-evolving digital landscape.
Incorporating a growth mindset into digital networking means being open to learning from others, regardless of their industry or experience level. It’s about understanding that every interaction can be a learning opportunity. An example is the story of a young entrepreneur, Ali, who regularly interacts with industry leaders on Twitter. He doesn’t just tweet at them; he engages with their content, asks insightful questions, and learns from the discussions that follow. This approach has not only expanded his knowledge but also his network.
Moreover, a growth mindset in digital networking is about sharing your learning journey. When you share what you’ve learned, whether it’s a new industry insight, a book summary, or a course you’ve taken, you add value to your network. For instance, a tech professional sharing her experience and key takeaways from a recent coding boot camp on LinkedIn can inspire and inform others.
How can you do it?
- Optimize Your Online Profile: According to LinkedIn, profiles with professional photos receive 21 times more profile views and 9 times more connection requests. Ensure your profile photo is clear and professional. A compelling headline and a detailed summary that highlights your skills and experiences can increase your profile’s visibility and attractiveness.
- Engage Regularly and Authentically: A study by Sprout Social indicates that 57% of consumers will follow a brand to learn about new products or services, while 47% will follow to stay up to date on company news. Apply this to personal branding by regularly sharing updates, insights, and industry news that are relevant to your field. Authentic engagement, including commenting on and sharing others’ posts, fosters meaningful connections.
- Utilize Advanced Search Features: Platforms like LinkedIn offer advanced search tools that allow you to find people in your industry or area of interest. Utilizing these features can help you identify and connect with potential mentors, collaborators, or industry leaders. Remember, personalizing your connection requests can increase acceptance rates significantly.
- Participate in Online Groups and Forums: Data from Facebook shows that over 1.4 billion people use Facebook Groups every month. Participating in relevant online groups and forums can help you engage with like-minded professionals. Actively contributing to discussions and sharing your expertise can establish you as a thought leader in your field.
- Attend Virtual Networking Events: With the rise of remote work, virtual networking events have become more prevalent. A report from EventMB states that 70% of event planners have moved their events online. Attending these events and actively participating in discussions can expand your network beyond geographical limitations.
- Follow-Up and Maintain Connections: A survey by HubSpot revealed that 80% of sales require 5 follow-up calls after the meeting. Translate this into networking by following up with new connections. A simple message expressing your interest in keeping in touch or commenting on their recent post can keep the relationship active.
- Leverage Analytics: Many social platforms provide analytics tools. For instance, Twitter Analytics shows which of your tweets have the highest engagement. Use this data to understand what content resonates with your audience and tailor your future posts accordingly.
Do not commit these mistakes
- Over-Promotion: Constantly promoting yourself or your services can be off-putting. Balance is key; focus on building relationships rather than just selling.
- Neglecting to Personalize Messages: Generic messages can seem insincere. Personalize your outreach to show genuine interest.
- Ignoring Online Etiquette: Being too informal or not respecting others’ opinions can harm your reputation. Maintain professionalism in all interactions.
- Failing to Follow Up: Networking is about building relationships. Not following up after initial contact can lead to missed opportunities.
- Overlooking Profile Updates: An outdated profile can give the wrong impression. Regularly update your information to reflect your current skills and experiences.
Conclusion
Effective digital networking is a blend of strategy, authenticity, and ongoing engagement. It’s about building meaningful connections, not just expanding your contact list. By leveraging the right platforms, personalizing your approach, and continuously nurturing these relationships, you can unlock a world of opportunities. Remember, digital networking is a journey, not a one-time event. Stay genuine, be patient, and watch as your professional network becomes a cornerstone for success in an ever-evolving digital landscape.
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If you reached here, I must assume you understand the importance of building a brand. But I also understand you have a business to run. And our brand Chiseled exists to solve this problem.
Let us help you, connect with me at inchara@chiseled.in and we will get back to you with a foolproof strategy deck!
