Building Relationships With Social Networking

Have you ever met Jeff, Mr. I-just-got-a-great-deal-on-23,000-business-cards- and-I-must-hand-out-as-many-as-I-can? I am sure you have met one of the many incarnations of this type at a networking meeting, a Chamber of Commerce mixer, or even during an informal social event. Jeff has a formulaic modus operandi. He comes up to you, briefly introduces himself, and tells you all about his business. He then proceeds to give you his business card and urges you to call tomorrow and become one of his customers. As soon as you attempt to start talking about your business, Jeff scurries off to find his next vict... er, human business card receptacle. At this point you wisely decide to avoid doing business a person who obviously never engages in win-win conduct. You promptly deposit Jeff's card into a more appropriate receptacle in the corner.

Jeff's behavior had thwarted his intent. Even though you may need his products, his demeanor leaves doubts about the value of engaging him in business transactions. Jeff would have done much better by simply spending a few minutes learning about your business, and then discussing how the two of you could help each other solve business problems. Alas, he wasn't interested in exploring the benefits of a long-term business relationship with you. Instead, Jeff was singularly focused on making it into the Guinness Book of World Records under an obscure category entitled "most business cards distributed in one hour."

Drive-by-business-card-handouts are rampant in online networking as well. A few months ago, I received an e-mail from Jenny, who wanted me to purchase pet mouse insurance. She didn't bother learning more about me by perusing my personal page, or e-mailing me first to introduce herself and get to know me. Had she done that, she would have realized I don't own any pet mice, and thus I am not a member of her target market. Jenny and I don't have complementary services, and thus we would not be likely to engage in a business relationship. However, had she taken the time to build trust and confidence in her services, I would have recommended pet mouse insurance to Stacy and Tim, who do own twenty seven relevant furry creatures. This transaction alone would have surely earned Jenny the coveted "pet mouse insurance agent of the month" award.

The goal of both online and offline networking is the same — creating mutually- beneficial, long-term business relationships and expanding your network. While the approach to online networking is different from that in offline networking, the outcome is the same. Here are a few points to remember when you are networking online:

Find out something about the person before making contact

Invest some time into figuring out whether Bruce is a part of your target market, a potential strategic partner, or just somebody with whom you'd like to have an in-depth conversation about the latest trends in ski bindings. You will have a much easier time engaging people once you know something about their interests and their potential role in your network. Of course, this research will also help you determine what roles you can play in others' networks.

Avoid the used car salesman syndrome

Lars, a software developer in Silicon Valley, was laid off during the worst period of the post-dotcom bubble. He diligently searched for another job for nearly a year with no success. His bills were piling up, so he took a job as a car salesman at a local dealership. Lars had the typical software developer's laid-back temperament, so he wasn't really interested in selling cars. He didn't try to sell anything to the customers. Instead, during long test drives on scenic California highways, Lars talked to his customers about the weather, their children, and their lives — anything but the amazing acceleration and superior torque at low engine revolutions of the latest premium sedan. People loved his approach. Customers referred Lars to friends, relatives, co-workers, and random acquaintances. The dealer couldn't stock new cars fast enough, as Lars moved an ever-growing number of vehicles out the door. Lars retired three years later.

Learn from Lars. Don't use a high-pressure, canned sales pitch the first time you contact someone online. Be pleasant and simply mention your business. Avoid channeling Vinny from the neighborhood's used car lot.

"Ask not what the contact can do for you, ask what you can do for the contact!"

(our apologies to JFK). Stop approaching networking contacts and hoping to immediately sell something to them. Instead, try to determine what your contacts desire, and help them to fulfill that need. This will start you on the road to becoming a valuable member of their networks, which in turn will produce more contacts and potential customers in the future.

Don't be a victim of the "next quarter earnings" disease

Too many executives focus exclusively on short-term financial results to the detriment of long-term, strategic investment and planning. Companies, employees, and shareholders pay a heavy price as a result. Don't fall into the short-term trap. If the person you talk to isn't interested in your products or services immediately, keep developing the relationship. Savvy online networking is about building long-term business relationships, not making a large number of one-time sales calls.

Healthy business relationships are invaluable. Business partners provide you with a foothold into their own business networks, which will help you to make business connections you would have never known about otherwise. Build and nurture your networking relationships every chance you get, and you will surely grow a successful business.

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