Networking groups are popular in our business world. Why? Because they work. Networking is all about giving and receiving referrals.
Networking groups are typically reactive. In other words you wait for your networking partners to introduce/refer to you. The process is also time consuming.
In surveys most people state they lack time. We also know that 70-90% of new business comes from referrals. Bottom line is networking is vital.
But times are changing!
Social media is the number 1 activity online. Combined with the fact that data is exploding, doubling every year understanding how to grow your business in this new environment is essential.
It’s important to keep you finger on the pulse of change and keep up.
Mycity.com Harnesses your most powerful asset, the people you KNOW. This program can help any networking group flourish.
Social media is a relatively new marketing tool that few business people have conquered as a marketing medium.
We have seen many LinkedIn users generate lots of connections, but those connections don’t seem to go anywhere. In fact our experience is that 90% of the 140 million people in the US on LinkedIn have not generated any revenue for a couple of reasons.
1) They don’t know how to use LinkedIn. They lack knowledge how to target connections clients and referral partners.
2) Next they don’t message connections, or send the wrong kind of messaging.
3) People lack time. One more project is overwhelming.
4) The greatest failure is that users don’t build relationships and they lack a systematic approach to relationship building.
There is a formula that can solve the business building process. Here is a relationship building formula:
1) When you first meet someone as a result of social media, do not sell, instead better to be interested rather than interesting. If you sell too quickly you will push people away, and as a result, you’ll never get them back.
2) If you had a good meeting, follow up the meeting by sending them an introduction/referral to someone they wish to meet.
3) Next invite them to a networking event/mixer.
Do this within a 30 day period and you are on the way to building a relationship.
We call this program The Power of Three.