Posts Tagged ‘networking’

Top (5) Professional Networking Mistakes

Wednesday, January 27th, 2010
Professional networking, especially in a sales setting can often prove unsuccessful when the proper tactics and strategy are not applied properly to ensure measurable success on a consistent basis.

For starters, it is prudent to remember that everywhere you go; whether it be church, the dry cleaners or the dentist can be a networking opportunity so always be prepared.  The most fundamental of all networking principals is to always have your business cards with you.  This is an absolute must!

Show me a salesperson who doesn’t have their business cards with them at all times, and I will show you a failure.

Avoiding these (5) key networking mistakes can be the definitive difference between success and failure.

#1. Monopolizing a person’s time:  Everyone has experienced that annoying person who traps you in a corner and takes over the conversation.  Refrain from monopolizing a person’s time or conversation.  The point of attending networking events is to socialize and mingle.  It doesn’t mean holding onto one person for the entire event.  This is a sure-fire way to instantly turn people off.

#2. Coming across as a pompous know-it-all:  Listening is just as important as promoting your product or service.  Avoid sounding like a know-it-all, and ask other people about what they do.  If appropriate, offer advice.  While it’s important to market yourself effectively, make sure the line between self-promotion and bragging is never compromised.

 #3. Acting passive and not working the room:  The point of a networking event is to meet as many people as you can.  Even though it’s easy to feel comfortable with one group of people or one person in general, make sure to work the room.  Act as if you are the host of the event and want everyone to have a good time. This is a good ice breaker and makes a great first impression.  Don’t be passive and sit on the sidelines waiting for someone to talk to you. Walk around the room and introduce yourself to different groups of people. 

#4. Stop going after one event:  Many salespeople go to a select few networking events, and when they don’t get anything out of them, they stop going altogether.  Networking, whether it be one-on-one or in a group setting must be a consistent effort as part of your business development strategy.  Give it time to work and don’t be so quick to give up so easily!

#5. Not helping others first:  Don’t be a walking sales pitch.  Find out how you can help others as opposed to how they can help you.  By helping others first, and making them the focus in your networking efforts, you will be rewarded by your efforts.

Avoiding these (5) costly mistakes will go a long way to helping you increase your  professional networking effectiveness.

The Sales Advisory Board 
Copyright 2010 / The Sales Advisory Board: http://www.thesalesadvisoryboard.com/

Does Cold Calling Really Work?

Friday, November 20th, 2009

In my experience, cold calling really DOES work, but there is also a dichotomy involved.  If you think about it, companies are often asking $100 an hour salespeople (the good ones) to do $10 an hour grunt work by cold calling.  This is not the best use of their time although it remains a critical function within the sales prganization.  Think about the OC (opportunity cost), the ROI (return-on-investment), and the COCA (cost of customer acquisition) involved.  If a company has the money to spend–AND MOST DO WHETHER THEY KNOW IT OR NOT–they would be better served to have an inside salesperson who handles the cold calling function on a full-time basis so that the outside salesperson can spend more time where they are most efficient which is in front of the prospect.  You’ll notice I said that most companies DO have the money to spend whether they know it or not.  Specifically, I am referring to THE FACT that most companies employ a “hire as many outside salespeople as we can mentality and hope for the best” strategy.  Simply stated, this is a recipe for disaster!  

Companies would be better served to reduce the # of outside salespeople they have and reinvest the money by hiring inside salespeople to handle the cold calling function.  You can use this role as a career path for an individual to move into an outside sales position at some point in the future.

You should also create a commission plan for the inside salesperson for deals sold by the outside salesperson based on the internal salesperson’s cold calling efforts.  This creates a WIN-WIN scenario for everybody because everyone involved benefits financially. 

Also, don’t outsouce this function. I’m a firm believer in outsourcing, but not the internal cold calling position. You want to maintain significant control in order to ensure maximum success and effectiveness.

Tom Mangini / Founder / The Sales Advisory Board
Copyright 2009 / The Sales Advisory Board: http://www.thesalesadvisoryboard.com/