Of course, business networking is not a quick fix. Financial advisors, insurance agents, attorneys, and other service providers that need to sell something know that nothing happens overnight. That said, these four approaches if done correctly will absolutely generate more business.
Be Clear about Your Target Market
As in crystal clear. Establish a specialty industry, profession, market segment, or niche. Be specific about who you serve best and therefore wish to serve most. Think strategy over a period of time or indefinitely. When it comes to choosing your target market, consider your geography (sometimes a factor), who needs your services most, what makes the most sense for you businesswise, if there is an access point (networking groups, associations), and if you like to work with them.
Create a Target List
Make your list and check it twice. Create a list of companies you want as clients, or a list of the type of people (maybe actual names) you want as clients. Although some clients may find you by chance, most will not unless your business reaches a tipping point. Having lists in place is helpful when you’re networking so you can mention your targets as you’re meeting the people that may be able to introduce and refer you.
Centers of Influence
Your COIs are the referral partners that can introduce and refer you to prospects. Ideally, COIs should serve the same market as you without competing with your services. Often, a fractional CFO with a focus on the construction industry could be an ideal COI for a financial advisor working with clients in the construction industry. In fact, they can help each other! And that’s the point. Not having a defined target market makes finding your COIs more difficult. Best to have an action plan to keep your COIs close, and your target list closer. Imagine if you had a monthly meeting with your four favorite COIs as a group with a “how can we help each other” agenda?
Become Active in a Professional Association
There is an association for every industry, profession, market segment, and niche. Most associations have local, regional, and national presence. Find the association that is most related to your target market and join it. Be active! Join committees, serve on leadership boards, volunteer, go to every meeting, bring guests (your COIs!), help fellow members, provide introductions and referrals, speak at meetings when you can, educate, and make suggestions for improvement. If possible, get active locally, regionally, and nationally.
Yes, all these approaches require work. And not the AI and automated e-blast type of work. Implement these four actionable approaches into your marketing plan today and you’ll have more prospects, more referrals, and more business in no time!