Business Networking in the Time of COVID

 Many are finding that the normal in-person networking events, even if permitted, are risky for themselves or their customers. In the service business, there are two “types” of business networking that are critical to business survival, despite the current pandemic:

•       Networking to find new customers
• o   Networking to remind friendly contacts and customers that you are still ready to service them.

If you’re looking for new customers, it’s a great time to sharpen your social media skills and open yourself up to new possibilities. Consider a tool like LinkedIn Sales Navigator, which gives great access to lead lists that fit the profile of customers you are already serving . You can also use blogs and social media content (combined with options like Facebook’s Boost  to help get fresh eyes on your business content and ideas. Both of these can provide great intros to new contacts. Further, careful audience selection will allow you to titrate your ad investment to the preferred customer location and profile.

“With all the new electronic (touchless) lead generation, I remind people not to forget the older techniques. Postcards to a tested list, and joint venture outreach with trusted professionals serving the same market can be highly successful,” says Service for Profit’s Tom Pencek.

But what about reaching out to friendly contacts? Well, it turns out that it’s easier than ever to do that while staying home – especially if you have the contact info of the people you’re trying to reach. In this case, it is all about choosing a method of contact that is most convenient for your audience.

I’m a big believer in periodic emails that are tailored for your target audience. I recommend MailChimp for this, as it is free for smaller lists (<2000 names). Podcasting is becoming more accepted as an outreach method for some customers as well. Walking with earphones and listening to recorded content seems to be common these days in Silicon Valley. Google has stepped up to create an educational series on Podcasting, and provides new podcasters training on how to get into this outreach method .

Bottom line, some contacts prefer a light touch. It’s a good idea to make an initial contact and ask permission before routinely sending them an ongoing series of emails or other content. Once that’s done, you can use anything in your newly expanded toolkit to effectively market your services and connect with customers.

A Software Tool that Helps Consultants Book Appointments Faster

 

Does the early bird really get the worm? These days, at least for consultants, insurance professionals, financial consultants, and professional service providers of all types, it can make the difference between a thriving business and one that is floundering. 

Cutting down on the back and forth negotiation that usually accompanies appointment setting can really make a difference in volume of your professional service sales pipeline and the speed with which it moves. If this sounds like it could be a problem holding you back, I recommend that you take a look at the cloud based scheduling tool, Calendly (www.calendly.com).

The tool runs in the cloud, offers a free version with basic functionality, shields your calendar details (only shows open slots), communicates with most major digital calendar systems, and can be upgraded for increased functionality or groups. 

As you can see from the dashboard, multiple types of meetings can be accommodated.  

Nothing says “We Love you, Mr. Customer!” like 31 years of Onions

Onions for distribution

I walked into my local bank the other day and by the window I found a huge pile of produce.  Turns out that these 10 lb. bags of Walla Walla onions are this year’s supply to continue a customer gift tradition begun 31 years ago by the then-owner of this small bank in Silicon Valley, University Bank and Trust. Carl J. Schmitt, who attended college at Whitman in Walla Walla, hit on the idea of gifting his customers with something unique. Each year his customers left each one of the three bank branches with a bag of onions personally conveyed to them with thanks and a handshake from a bank employee.  Although Schmitt’s UniversityBank and Trust was acquired in 1995 by the far larger, multi-branch Comerica Bank, Comerica decided to continue giving away onions at the former University Bank branches. 

Since 1996, one 10 lb bag at a time, Comerica Bank has sent out its doors more than 370,000 pounds of onions. 

“Comerica is committed to our customers,” said J. Michael Fulton, President, ComericaBank--Western Market. “By giving away Walla Walla sweet onions, we can thank our customers for their patronage.”

Other customer “courting” tips from University Bank

Onion love offerings may seem an unusual way to honor customers, but, as a customer myself, I can tell you that they build brand loyalty and strengthen personal relationships between the bank and its customers. I never had the pleasure of meeting Mr. Schmitt, but he seemed to think like me with regards to customer delight. I did some research on some of other practices he employed that helped triple the stock price of the old bank within its first 4 years of operation:

• ·         Free shoe shines provided at a stand in the bank lobby
• ·         Pens not chained down and easy for everyone to use
• ·         Oriental rugs and fresh flowers in the vault of safe deposit boxes
• ·         Stamps sold by tellers and all statements mailed on the second day of the month
• ·         Non-cash deposits picked up from some customers’ office by drivers of vans humorously decorated with lifelike paintings of safe-crackers at work.  Customers appreciated the wit and not having waste time going to the bank.
• ·         Free traveler's and cashiers checks
• ·         Free photocopies of papers and signature verification

What about your service business? 

Should you be doing more to court your customer and let them know you value and appreciate them? It seems to me that Schmitt had some great ideas about making it easy to do business with University Bank. Is there more you can do to make it easy and enjoyable for customers to do business with you?

If you’re interested, I know where you can get a good, bulk deal on some onions.

Are You Getting Referrals?

At a business meeting recently, we went around the table telling our colleagues about the “best referral” we had in the last year, the business lead that generated the most revenue. After thinking about it, I realized that for the past twelve months I had not received a single referral that resulted in business! Fortunately, I have been busy, but looking back, I realized that all my business had come to me directly—by meeting and talking with people. I began thinking about why I had failed to reap any benefit from this traditionally important source of professional business leads.

After completing a survey of some recent customers, I identified some interesting answers. The top three reasons for not referring to me were:

1.       “I didn’t feel comfortable about what promises I could make on your behalf. Everything you do is different for each person.”

2.       “I don’t like asking people to do something. I just gave them your card.”

3.       “I just forgot about you!”

If you are wondering why your referral pipeline is not as full or moving as swiftly as you would like, consider whether the feedback I received could also apply to you and your potential referral sources. If any do, you may find that some solutions that I recently implemented may also work for you.

Make Promises

There is a big difference between telling people what you do and telling people what promises they can make on your behalf.  When I introduce myself at networking events, I usually say something like, “I specialize in helping companies increase their revenue by developing, launching and selling services.” I thought that was adequate, but I have been experimenting with a new “promised-based” description: “I work with small businesses for 6 months at a time to increase revenue by as much as 30% by selling new and existing services in smarter ways and for more money.”  People have told me that they feel more comfortable with the second version. What do you think?

I’ve heard other people use “promise-based” descriptions for what they do:

                “I specialize in helping people who can’t pay their mortgages or who owe more than their house is worth.  I will meet with them and offer suggestions without obligation.” My friend, Rick Smith, of ClickHome Reality, San Jose, CA, specializes in helping people sell houses at a difficult time. The way he describes his offering clears up any doubt about what he will do for anyone I may send to him.

                “If you know of a group or organization that would like to tour the Winchester Mystery House and would like to save some money on admission, have them contact me. I can offer them a group discount.” It ‘s hard to be confused about what will happen if I send you to my friend Nathan Emmett at the Winchester Mystery House. If you and 14 friends want a tour, he’ll give you a discount. Simple.

 Don’t Ask for Something; Give Something

Asking someone to do something is hard. Giving a gift is easy!  My friend and client Dan Gonzales, of the San Jose law firm, Ferrari, Ottoboni, Caputo & Wunderling LLP, recently wrote a “special report” that addresses risks of holding commercial property outside of an LLC. When I talk with my clients, I never ask if they would like a recommendation to a good attorney. (Obviously, my asking could seem insulting!) But I do frequently ask if they would like me to have sent to them a copy of Dan’s special report, which is well written and likely to impress them with Dan’s understanding of the law. If they say “yes,” it could indicate that they have a need for legal advice—and not just concerning the topic of the report. Offering this gift is a great easy way for me to generate leads for Dan while offering something of genuine value to my other clients. 

So ask yourself: Is there an informational product you could create that would make it easy for your referral sources to give a gift from you? This is what I came up with. What do you think?

Forgotten? I’ve got an app for that!    

People are busy. Moreover, according to psychologists, we have the ability to hold only about 10 people in our “shelf of mind”—the virtual bookshelf in our minds. As we meet new people in the course of business, other people automatically drop off the shelf unless they remind us of their existence.  If they can link the reminder with an additional benefit, even better.

To do a good job of staying on a customer’s “shelf of mind,” many  firms send them newsletters or greeting cards.  The key to success with both a newsletter and card program is making your content relevant and useful to your clients and potential clients:  it’s never all about you; it’s about them. Because then it gets read and you gain “shelf of mind” as someone attuned to their interests. My CPA is my son-in-law, and the father of 3 of my grandchildren, so whenever I talk to the grandkids or my daughter, I am reminded of Dave’s tax practice.  But even if I didn’t have Dave on speed dial, hearing from him once every 3 weeks or so with an article or a bit of news that might affect me or my business would be a great way for him gently to remind me of his availability. 

To stay in touch with clients and contacts, I have used a newsletter and created a business Facebook page that I post on daily. But I think that may be too passive. I’m going to start calling people about once every 6 weeks or so just to check in with them. 

What are you doing to stay in touch with clients with whom you are not actively working? Please let me know and in a future blog, I’ll share your strategies so all of us can benefit from them.