The dos and don’ts of business networking
In this day and age, social media is king. Thanks to sites like Facebook and Twitter, you can instantly connect with millions of people across the globe at the swipe of a finger, propelling your business to dizzying heights.
With that sort of power at the edge of your fingertips, it can be extremely tempting to try and stay cooped up indoors and avoid real, face-to-face contact. But the truth is, traditional business networking very well may be the most cost-effective marketing method you can employ when trying to grow your business.
It is an essential platform for creating brand awareness, meeting like-minded people, making useful contacts and building new relationships based on trust. It is an occasion to engage with a variety of influential people, many of whom may be difficult to meet through other means. You are also opening yourself up to a wealth of advice and information from other business people and decision-makers, much of which could be of great benefit to you and your business.
According to the Center for Exhibition Industry Research, a whopping 61% of business executives say they prefer face-to-face meetings with potential clients. Why? It helps demonstrate commitment, and works far quicker than an email would to establish a sense of empathy and trust. Traditional networking also tends to offer far more opportunities. In fact, 99% of marketers say that they find unique value from networking events like trade shows that they are unable to get from other marketing mediums.
Bearing that in mind, it would be foolish not to get out there and shake hands with a few prospective clients and industry cohorts. Yet it’s worth mentioning that there are definitely a few faux pas that you should be aware of before hopping into a new social scene.
Things you should do
Okay, so everybody knows the basics. You should always dress appropriately, observe regional customs exercise a bit of caution when politics come into the conversation. But there’s a lot to think about before you and your new contacts are shooting the breeze over a mid-morning coffee.
Here are a few simple steps you should always take into consideration whilst networking:
1. Make sure you’re prepared
One of the biggest mistakes that young entrepreneurs make when attending a networking event is failing to prepare.
Before you go, you should go to the trouble of developing a concise pitch that you can use to introduce yourself and your business. Keep it short and informative; after all, you’ll likely meet lots of different people for only a short period of time. By planning and preparing before an event, you will know what you want to get out of it and what information you will share and discuss with the people you meet.
You should also ensure you’re equipped with hard copies of promotional materials. Traditional items like business cards and brochures still carry a lot of weight, because they demonstrate to colleagues that you are established.
It’s also pretty useful to have a notepad and pen with you in order to take notes.
2. Branch out
While it may be beneficial to attend events in your own business arena, you’re kind of shooting yourself in the foot by refusing to attend unrelated events. After all, at small industry events, you’re probably only going to meet the people you’re competing with — and they’re obviously less likely to buy your products. Yet by attending events that bring together other industries, you are far more likely to meet prospective clients, receive referrals and discover gaps in the market that your business could perhaps serve.
When in doubt, mix it up.
3. Arrive in good time
Networking can be a little daunting, and it’s normal to feel nervous. So, if you arrive early, you will avoid having to walk into a room full of people you don’t know. Instead, you will have the opportunity to gather yourself and strike up a conversation with people as they arrive, rather than trying to find an opening with people who are already involved in conversation with someone else.
More important still, arriving in good time will demonstrate to your potential clients that you operate in a punctual manner. Nobody wants to do business with a company that can’t meet its time commitments.
4. Be friendly
If you’re trying to make a good impression, it kind of goes without saying you should be nice to people. However, some people get a little standoffish when they’re nervous, and this can come off as extremely rude. You’ve got to take it upon yourself to project a calm, confident demeanour throughout each meeting — even if you’re feeling stressed and indecisive on the inside.
You’ve also got to make sure you’re giving other individuals an opportunity to talk about themselves and their businesses. Be a good listener and offer help and advice wherever you can. This will allow you to build a rapport with people and, in turn, they may offer you useful tips and information to improve your business. Introduce or refer them to other people you know if you feel they could be of benefit to one another. After all, these events are all about helping others as well as yourself.
5. Follow up
Following up on your networking experience is the single most crucial aspect of the entire process. You’ll likely meet lots of different people at these events, and it will be difficult to remember everyone. But if you do happen to meet someone that you think could be of benefit to your business, do remember to follow up. This will remind the contact of who you are, what you do and what you could do for them.
You will also appear reliable and trustworthy, and it’s a great way to go about building strong connections. Consequently, these contacts will be more likely to consider you for referrals or use your services and products for their own business.
6. Stick with it
Networking is a long-term strategy. So, remember that you’re not going to an event to make a sale — you are going to build strong relationships. This will take a lot of time, and the more events you go to, the more likely you are to form useful, lasting relationships with the people you meet. In the long run, this will help you develop brand awareness — which could lead to new clients, suppliers and investors.
Things you should not do
For every one thing you should do at a networking event, there are two dozen things you shouldn’t do. Taking for granted that inappropriate jokes and unwanted physical contact are off the table, here are a few more topical points to bear in mind when you decide to start networking:
1. Don’t arrive late or unprepared
As previously stated, nobody wants to do business with a company that cannot adhere to a schedule. Moreover, it’s important to remember whilst networking that the conversation you’re having with somebody very well may be your last. If you want to turn strangers into friends or clients, you’ve got to wow them, and you need to know your stuff. If you’re not prepared to answer basic questions about your company, you’re going to lose the interest of others in the blink of an eye.
2. Don’t try to make a sale
Coming away from a networking event with a verbal contract is all well and good; however, you shouldn’t expect it to happen. Most events are simply an opportunity to learn more about likeminded business individuals. Find out what others do, and tell people about what you do — but don’t be pushy, or you will alienate potential connections. Focus on making connections first and making sales second.
3. Don’t be selfish
Networking events are all about helping others. If you appear to be interested in what you can do for others, they too will be more willing to offer you help, advice and contacts. Likewise, if you’re interrupting others and outtalking everyone else in the room, you’re likely to turn a lot of prospective clients off from the get-go.
4. Don’t make promises
Again, networking events are all about getting to know one another in order to build a foundation for co-working. You shouldn’t promise someone the world on a silver platter just because you want to make a good impression. After all, if it’s something you’re not able to deliver, you’re going to do a lot more harm than good. If people want to talk serious business, talk serious business — but don’t make any commitments right there on the spot.
5. Don’t be dismissive
Not every individual you meet at an industry event will be particularly useful to you in the short term; however, that’s no excuse to be rude. Don’t let your eyes wander around the room when you are talking to someone. This will make people think you’re not interested in what they have to say, and that you’re only talking to them until you find someone more useful. For all you know, you might be trying to shake off a billionaire angel investor. Karma is a cruel beast, and so it’s best to demonstrate your best manners and be a good listener.
6. Avoid the open bar
If alcohol is available, do yourself a favour and don’t drink too much. When in doubt, always try to drink less than everyone else, or not at all. That way, you’ll remain in control and you will also be able to see how others conduct themselves. This can be useful for identifying those you would be happy to forge relationships with.
Keeping an open mind
t’s worth taking into consideration that no two networking events are alike. You may be expected to behave differently at some events than you will be expected to behave at others. Yet by and large, the previously outlined points will not steer you wrong.
No one can deny that networking can be a nerve-wracking experience; however, it’s certainly worth making an effort. After all, it could open a staggering number doors for you and your business. Just remember to tread carefully, and be open to new opportunities. If utilised effectively, traditional networking events could turn your business into an overnight success. So, get out there and make it happen.
If you’re on the hunt for events near you, the best places to start looking are usually your local Chamber of Commerce or the UK Government’s Business Events Finder.
Rachel Craig is part of the media team at Formations Factory and is responsible for developing and maintaining the online presence of the company. Formations Factory is a company formation service provider in the UK.
