Download - Networking for Business Success
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Stephen N. Davis
“Partnering With Clients to Drive
Sustainable Profitable Growth”
Networking for Business Success
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2000 - 2011 © CXO Advisory Group
John Wanamaker
“Half the money I spend
on advertising is wasted,
and the trouble is,
I don’t know which half.”
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2000 - 2011 © CXO Advisory Group
The Marketing Landscape has Changed…
“Buy My
Product”
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2000 - 2011 © CXO Advisory Group
Ads are Everywhere
People see and hear between 1,000 and 3,000 advertising messages/day 87,600,000 throughout their lives
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2000 - 2011 © CXO Advisory Group
Nielson: 90% of People Who Can Skip Ads - Do It
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2000 - 2011 © CXO Advisory Group
Nielson: Only 14% of People Trust Ads
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2000 - 2011 © CXO Advisory Group
Trust Drives Transactions
66%
Of the Economy is Influenced by Personal Recommendations
SOURCE: McKinsey & Co.
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2000 - 2011 © CXO Advisory Group
Trust Drives Transactions
91%
Say consumer reviews are the #1 Aid to Buying Decisions
SOURCE: JC Williams Group
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2000 - 2011 © CXO Advisory Group
Trust Drives Transactions
78%
Trust Recommendations of other Consumers
SOURCE: Nielson Report - October 2007
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2000 - 2011 © CXO Advisory Group
Trust Drives Transactions
88%
Will Buy from Companies they TRUST
SOURCE: Edelman Trust Barometer, 2008
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2000 - 2011 © CXO Advisory Group
Trust Drives Transactions
85%
Will NOT buy from Companies they DISTRUST
SOURCE: Edelman Trust Barometer, 2008
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2000 - 2011 © CXO Advisory Group
It’s Not About Collecting Business Cards
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2000 - 2011 © CXO Advisory Group
Your Ultimate Goal
Convert Your Contacts
Into a Word-of-Mouth Referral Network
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2000 - 2011 © CXO Advisory Group
Your Network = Your Net Worth
$948
The Value of a Contact in YOUR Network
SOURCE: IBM
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2000 - 2011 © CXO Advisory Group
Networking Steps
Meet people
Start conversations
Answer questions
Ask questions
Offer to Help
Build Trust
Follow Up
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2000 - 2011 © CXO Advisory Group
Networking is NOT
about you ….
It’s ALWAYS about the
other person
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2000 - 2011 © CXO Advisory Group
Step 1: What is Your Brand?
? Your Personal Brand is
More important than the Company Brand
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2000 - 2011 © CXO Advisory Group
What is Your Brand?
“We are CEOs of our own
companies: Me Inc. To be in
business today, our most
important job is to be head
marketer for the brand
called You.” Tom Peters - 1997
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2000 - 2011 © CXO Advisory Group
What is Your Personal Brand?
Communicates your
personal story
What attributes set you
apart
How do you want to be
positioned ?
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2000 - 2011 © CXO Advisory Group
What is Your Personal Brand?
Communicates your personal story
What attributes set you apart
How do you want to be positioned
People and groups you associate with
Company and/or Self
List keywords prospects might use to search for you
?
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2000 - 2011 © CXO Advisory Group
Step 2: Establish Your Goals
Who are you trying to meet?
• Customers
• Strategic Partners
• Referral Sources
New Business over what time Frame?
How much time should I allocate to networking?
How many meetings should I shoot for each week?
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2000 - 2011 © CXO Advisory Group
Step 3: Learn About Your Network Prospects
Who should I network with?
• What is their profile?
How do they make decisions?
Find out where they hang out
• Where do I go to network with them?
Rank prioritize venues
• Where can I meet the most
• Strategic partners?
• Prospects?
• Referral sources?
• When is the best time to network?
• I prefer morning meetings
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2000 - 2011 © CXO Advisory Group
How to Network Effectively
You are Not Selling
Start a CONVERSATION
Introduce yourself
Ask the other person “What
they do for a living?”
Get to know the other
person
Use open ended questions
ALWAYS CARRY
BUSINESS CARDS
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2000 - 2011 © CXO Advisory Group
The Right Questions
Separates the Pros
from the Amatuers ….
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2000 - 2011 © CXO Advisory Group
The Right Questions
Shows You’re
Concerned Helping
Them Achieve
SUCCESS
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2000 - 2011 © CXO Advisory Group
The Right Questions
Gets Them to Tell You
How to SELL Them
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2000 - 2011 © CXO Advisory Group
Questions I Close With
Who is a Good
Prospect for You?
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2000 - 2011 © CXO Advisory Group
Questions I Close With
Who Are Your BEST
Referral Sources?
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2000 - 2011 © CXO Advisory Group
Working a Room/Event
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2000 - 2011 © CXO Advisory Group
Ways to Connect at an Event
1. Be strategic about which events you attend
2. Get there early and talk to people at the registration table
3. Study the name tags 1. Identify people to meet
4. Don’t hang out with people you already know
5. Circle and scan for your targets
6. Look for people standing alone
7. Use your time wisely
8. Don’t try to sell
9. Ask questions of the other person
10. Know when to break off an unproductive conversation
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2000 - 2011 © CXO Advisory Group
Follow-up After the Event
Assess the event
• Was it worthwhile?
• Should you do it again?
Sort & prioritize collected business card
• Those you want to contact within 48 hours
• Those you want to contact within a week
• Those you will never contact
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2000 - 2011 © CXO Advisory Group
Go Meet Someone
Make a Referral Today
Homework
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2000 - 2011 © CXO Advisory Group
Questions
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2000 - 2011 © CXO Advisory Group
Driving Profitable Growth
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2000 - 2011 © CXO Advisory Group
Driving Profitable Growth
We help companies optimize business development and marketing; accelerate sales; and seize the most attractive growth opportunities.
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2000 - 2011 © CXO Advisory Group
The CXO Advisory Group
CXO Advisory Group is a strategic operations advisory
and management firm comprised of proven C-level
executives with both breadth and depth of experience.
CXO Advisory Group Team members have achieved
success in positions ranging from: President/CEO to
COO, and VPs of Sales, Marketing, Corporate
Development and Human Resources.
Has proven success in business development and in
building US sales and distribution channels
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2000 - 2011 © CXO Advisory Group
How Can CXO Help You?
Business Strategy Services
• Audit business practices and organization
• Evaluate product and pricing strategies
• Evaluate effectiveness of sales channel
• Assess effectiveness of existing sales and marketing
programs
Market Entry Program
• Analyze competitive landscape
• Market launch strategy and plan
• Channel strategy and programs
• Establish sales channels
• Generate sales and manage relationships
• Identify and develop strategic partnerships
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2000 - 2011 © CXO Advisory Group
How Can CXO Help You?
Sales Channel Management
• Review and revise sales channel strategies
• Channel partner identification, prospecting and recruitment
• Eliminate channel conflict
• Channel contract development and negotiation
Business Development
• Strategic alliances
• Align sales and marketing
• Social networking integration into marketing mix
• Co-marketing ventures
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2000 - 2011 © CXO Advisory Group
How Can CXO Help You?
Interim Management Resources
• Interim CEO, COO, CMO, CSO
• Interim VP of Sales and Marketing
• Consultant on staff
• Launch team coaches
Venture Advisory Services
• Fine tune operations, business strategy and market entry
• Assist with due diligence
• Strategic business assessment of portfolio companies
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Stephen Davis Interim COO/VP Sales & Marketing |
Business Consultant | Sales Channel and
Business Development Expert | Author &
Speaker
Contact Information:
“Partnering With Clients to Drive
Sustainable Profitable Growth”
Phone: (508) 528-7571 Email: [email protected] Website: www.cxoadvisorygroup.com Linkedin: www.linkedin.com/in/stephendavis Twitter: twitter.com/stephendaviscxo