In the spirit of every post on the blog being about networking lately, I wanted to focus for a second on monetizing allll of your marketing efforts.
I don’t know that I’ve actually laid this out so I want to be crystal clear…
The Millionaire Real Estate Agent talks about how every salesperson, regardless of what industry we are in, has two jobs — whatever your chosen profession is and lead generating.
The product or service might be different and the scripts might be vary by industry, but every form of lead generation falls under one of three categories.
Buy The Business
You can buy the business by paying for leads, marketing, Facebook ads, advertising or cutting your fees.
Yes, cutting your fees is buying the business.
Don’t get me wrong, buying the business isn’t a bad thing…
If you have the budget for it, it’s scalable and you can track your results, buying it can be an incredibly effective way to grow your business.
Yes, there’s a but…
It puts a cap on your ability to be profitable because you have to continue to spend more money to get more business and will eventually end up with diminishing returns. To top it off, your business and market share will
likely shrink when the market shifts because you won’t have the capital to spend anymore — and every industry goes through market shifts.
By all means, spend the money generating business if you have it, but that should be in addition to the third method of generating business, not in place of it.
Wait For The Business
So many salespeople send out a mailer, post something on social media, create an ad and then sit by the phone waiting for it to ring.
Again, there’s nothing wrong with any of these activities individually but if you build a business based on waiting for the business, you are going to lead a very unpredictable business.
An unpredictable business is one that you can’t track and what you can’t track, you can’t improve.
Go Get The Business
With networking, you are building a farm where you will nurture those relationships, just as you would with any other form of lead generation.With networking, you are building a farm where you will nurture those relationships, just as you would with any other form of lead generation. Click To Tweet
We’re not talking about a farm in the sense of going out into the field to plant seeds, tend to your plants and harvest them in the literal sense, but you are going to plant seeds (meet people), tend to your plants (manage your relationships) and harvest your crops (handle the business).
This is not going to happen in one day, it will take time.
You will have to commit to doing this for 3-6 months before you really start to see the results.
Before you start groaning, remember that those 3-6 months are going to go by either way, so you might as well make them productive.
The problem is that most people go to a networking event or two, don’t get any business out of it, say it’s not working and write off networking all together.
In order to get business out of networking, people need to trust you.
To gain their trust, they have to see you AND hear from you consistently OUTSIDE of the networking events.
Too often, we take a passive approach to networking where we will go to events and take the attitude of “when you need me call me” because we don’t want to seem pushy and then we end up frustrated because we don’t get any business from it.
Let’s just be clear: pushy is not the same as being aggressive.
Pushy is trying to sell someone something that they don’t want to buy.
Aggressive is making sure that you do whatever it takes to get people what they want.
Aggressive is good.Pushy is trying to sell someone something that they don’t want to buy. Aggressive is making sure that you do whatever it takes to get people what they want. Click To Tweet
In real estate, if you ask any seller what they want in an agent, they’ll tell you that they’re looking for an aggressive agent.
If you or I were to hire a defense attorney, wouldn’t you want them to be aggressive?
After all, your freedom would likely depend on it.
So why are we terrified of being aggressive?
The most aggressive approach is going to get the business.
That means going out and talking to people about your business, staying in consistent contact with them and servicing the business when they are ready to work with you and you’re going to have to do it consistently.
The reason that so few people are willing to go get the business is because it requires the most rejection but it is how almost every single successful salesperson has built their business… and I really don’t think there’s a better way to get business than going to get it.
Here’s what you have to remember: people like to have their business earned.
That doesn’t mean they will always make it easy for you but they will always respect your commitment.
When you earn their respect, you will get their business.When you earn their respect, you will get their business. Click To Tweet
Consistently communicating with them about about your business in a way that you are always providing value, you are demonstrating that you will show them that you are reliable and are willing to work for them.
Just for the record, if you throw someone on your email list without making sure that the information you are sending them is valuable and relevant to them, your “valuable information” is spam.
You can tell someone a million times that you will do a great job for them but telling them isn’t the same as showing them.
That good old adage “actions speak louder than words” applies here.
If you tell them that you are going to follow-up with them on Tuesday and you do it, you are demonstrating your reliability and your work ethic.
Let’s face it — who DOESN’T like to have someone who is reliable and working for them?
When you provide value, you will stay top of mind so that when they do need your service, you are the only person they think to use — and being top of mind is a very profitable place to be.
Staying top of mind doesn’t have to be confusing, difficult, scary or spammy.
With a solid approach, turning new connections into income-generating opportunities will be as much of a habit and routine as brushing your teeth.
If you’re looking for somewhere to get started, it just so happens that I’m giving you my eight week follow-up plan totally free right here so you can implement it and start gaining mindshare with your network: