Posts Tagged ‘networking’

Takeaways from a LinkedIn Seminar–Making the Most of It

August 18, 2011

On the heels of our successful LinkedIn public seminar, we were treated to a glowing write up by one of the attendees.  An experienced internet and social network user, we considered her insights valuable.  She summed up her perspectives in a blog, “LinkedIn—Making the Most of It,” (http://bit.ly/ooQVvS).

I particularly enjoyed the comment that, “It is possible to get fixated on Connections and not see the value of all the layers of information available to every member.”  Very well put, and it addresses a common complaint that LinkedIn is primarily for recruiters and job seekers.  Indeed, she goes on to point out what was shared:  Connections are extremely valuable and important, but it is how you use them that makes the difference.

And so to the main point.  I find it enlightening, every time we discuss LinkedIn as a business development tool, to see what others take away as the greatest piece of information learned.  In this case, it was the ability of LinkedIn—and you, as the personal connection—to help others within your network who may be of benefit to each other.  That’s right.  It’s not about what others can do for you, but how you can help others.  That is a blog all by itself.  For now, take a look at Stringing Words Together and feel free to subscribe to the Good Growth blog and hers.  She is always a good read.

You can subscribe to the Good Growth blog, join our LinkedIn group, Sales Effectiveness (http://linkd.in/ql6C81), and follow Opus Partners’ company page on LinkedIn (http://linkd.in/ozpa8K).  We’re also on Twitter (@GoodGrowth) and have an Opus Partners Fan Page on Facebook (http://on.fb.me/qAFrPj). 


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Trust: Why It Matters Most to Business Growth

July 22, 2011

Lately there have been some questionable business practices exposed by the media.  Regardless of the size of the organization, one point is obvious—these companies will have a hard time, if ever, of shaking their reputations as scoundrels.

They have broken the sacred trust bond.

Charles Green, in his book Trust-Based Selling has an equation that we find is a powerful reminder to our clients of the power of trust:

TQ = C + R + I / S

The trust quotient = the level of credibility + reliability + intimacy divided by self-orientation.

Let’s start with the denominator.  Recalll your days of school algebra.  If the bottom number is high, the end result will be smaller.  So, the first important factor is minimizing the “me” orientation of many salespeople.

You need to build a relationship.  If you were out on a date with someone who droned on about themselves, you likely would not go out again.  It is a one-way interaction.  Successful relationships must be two-way and, in the best of these, each party carefully listens to the other to see how they can help each other and give.  Business growth—for you and them—depends on this exchange.

Credibility and reliability are gained by what you ask, your experience and how responsive you are with your actions.  Some of this is hard data.  The final piece, intimacy, is important, reflecting how you share and open yourself up to the person, offering assistance to the new acquaintance and others.  In today’s more transparent environment, it is easier to get a sense of how someone interacts.  Doing a quick search can put information at your fingertips to answer some questions.  Is this person:

  • Too self-promotional?
  • Overly critical?
  • Collaborative?
  • Actively offering advice and insights?

In addition, there are always ways, such as LinkedIn, to determine who knows your contact and do a quick check of credentials, etc.

I would go so far as to say that the TQ equation points to value, which is a key component of trust.  (Value is the subject of a future blog.)  In every instance, where there is someone I trust, it is the result of their providing value to me in one way or another during the developing stages of our relationship.  They assisted me and I them.

People trust those who have gone out of their way to help.  It’s the giving principle.  Trust and value are inextricably linked.  It is in the process of articulating value and developing mutual respect in a relationship that trust is enhanced.

In a previous blog on negotiating, we raised a question in a LinkedIn group:  How well are you articulating value and building trust before negotiating on price?  One response, from Steven Forth, CEO of LeveragePoint Innovations, Inc., said, “I think articulating value, which shows an understanding of your customer’s business, is a good way to build trust.” 

It’s also good for business growth.

How do you give and add value?  What have you done to improve your TQ?

You can subscribe to the Good Growth blog, join our LinkedIn group, Sales Effectiveness (http://linkd.in/ql6C81), and follow Opus Partners’ company page on LinkedIn (http://linkd.in/ozpa8K).  We’re also on Twitter (@GoodGrowth) and have an Opus Partners Fan Page on Facebook (http://on.fb.me/qAFrPj). 


Social Media: No Magic Talisman for Sales Success

July 18, 2011

I read a terrific blog today by Shoba entitled, ”The Challenge of Social Media—Keep Realistic Expectations” (http://bit.ly/qrS4Vs).  It offers a perspective on the concerns by many businesses to attempt to qualify and quantify sales successes attributable to social media.

Indeed there are many self-proclaimed “experts” on the topic, but those who have read my blogs in the past know what I think of those claiming such status in a field that is constantly changing, and therefore allowing no one to call themselves that.

Indeed, Shoba is correct that social media must be part of a bigger picture.  As a sales and marketing professional accustomed to linking the two areas and having to justify expenses in both, there is never a clear cut equation that $X marketing + $Y sales = enormous increased revenue.  There are just too many variables and individual human characteristics and behaviors that contribute to success.  If you are lucky, your x + y is exponential in terms of generated results.

And that’s the rub.  Finance types (no disrespect intended) need and want the clarity of an equation.  An investment of $X = ROI of Y.  But that just isn’t going to happen.

With social media, like all forms of marketing, public relations and sales initiatives, it is one piece of a much larger whole.  Assuming you have a plan and are professional, activity in social media can help you and your company gain credibility, improve SEO, provide better word-of-mouth recognition, and keep you top of mind with your target audience.

Importantly, many people lose sight of the integration—and collaboration—aspect.  Neither marketing (and public relations as a part of it) nor sales alone can attain the rate of success that they can together.  As a matter of fact, one of my main career tasks has been aligning marketing with sales.  Marketing materials and messaging needs to reflect what potential and existing customers want, and sales, in turn, must consistently communicate to marketing what they hear in the field.  Two often, without input, salespeople leave material provided by marketing in their offices because they know this information misses the boat in terms of what customers want and need.

My favorite point is the one that remains tried and true for most business ventures: it is a long-term strategy.  Expecting some magic talisman to increase sales has never worked, and social media is no exception.

You can subscribe to the Good Growth blog, join our LinkedIn group Sales Effectiveness (http://linkd.in/ql6C81) and follow Opus Partners on LinkedIn, Twitter and Facebook (http://on.fb.me/qAFrPj). 

LinkedIn for Business Growth: What Are Your Success Stories?

January 24, 2011

Recently, we’ve noticed our increased success in developing new productive relationships on LinkedIn that have led to new business.

On one level, this shouldn’t be a surprise.  LinkedIn is a “social” network designed to help professionals interact and grow business.  But its focus on B2B can be a double-edged sword.  Some consider it a bit sterile, yet when used effectively, you can develop commonality and respect for fellow connections. 

Facebook is a different animal.  I have successfully strengthened ties with “friends,” but in terms of business growth, I find greater success with LinkedIn.  It’s likely due in part to what I refer to as the Dragnet approach of LinkedIn—the facts, nothing but the facts.  This provides a more professional approach, especially for business-to-business organizations. This leads me to ask two questions:

  1. What success stories can you share about social networking, especially LinkedIn?
  2. How do you use LinkedIn and other social networks to build your professional relationships and grow your business?

Social Media for Business Growth: What is Your Plan?

October 26, 2009

This past week, we conducted three presentations for a client on the use of social media to grow business.  Being big proponents of online and offline means to increase sales and revenue, we found ourselves preaching messages that recur every time the topic of new media arises. 

You’re on LinkedIn, have friends on Facebook, hundreds of followers on Twitter, post videos on YouTube.  You participate in numerous networking groups, have a well-done website, blog regularly, email your customers.  This all sounds wonderful, but have you asked yourself:

What are my business objectives?

  • How does social media fit in with my current online and offline marketing and sales initiatives?
  • What do I hope to achieve? 
  • How and with what frequency will I communicate with my contacts?
  • How does this help me develop a deeper relationship with customers and prospects?   

It is easy to get caught up in the hoopla of networking and social media, or alternatively be entirely skeptical of the merits of all this hard work.

Somewhere in between is the practical reality of what social media CAN do for your business.  For people who know me, they’ve heard this before and I can almost hear them laughing when I say it again:  The key to successfully networking and using social media effectively is to have a written plan that outlines your goals, objectives, action items, timetable and metrics to measure what is working .

At the end of the day, the result you want to see is “good growth” for your business.  Experts in social media seem to be everywhere, but what you need to do is gauge what is going to increase the revenue for your company.  Which tools are best?  Social media is a tool, not a strategy.  It is a group of tactics that must always align with business objectives in order to be effective.

A Friend Indeed: The Changing Social Contract

October 20, 2009

Recently, a good friend and professional for whom I have high regard, George Tomko, wrote a compelling blog entitled “A Friend in Need, is a Friend Indeed” (http://www.ciorant.net/?p=226).  In it he discussed the changing nature of the work environment and what this meant for relationships—between companies and employees and within professional circles.  Especially as more people continue to be downsized (is that the current term being used?), the depth of connections takes on a bigger role. 

The reality is that the social contract between employee and employer has been shifting for years.  Whether we like it or not, it isn’t going to go back to the good ‘ole days.  People hoping to secure a job for a longer term need to improve skill sets, be visible, and really add value to their organization.  The rise of corporate mediocrity is less able to be the case these days.

In the words of Martha Stewart, “This is a good thing.”  Now the search for and pool of talent extends well beyond the traditional corporate environment, and includes people who are constantly looking for ways to improve themselves, increase efficiencies at the companies they work for or clients they serve.  They will be the real winners.  Performance measurements include more than being seen at the office. The shape of employment has forever been altered.

That means that all professionals need to be connected—in a genuine way.  I like to say that it needs to be without an agenda. In other words, do it because you know these “friends,” “connections,” and “followers” are truly people who trust you and who you trust in return, and for whom you would be willing to extend yourself.  Knowing who these people are is particularly important, regardless of whether you are experiencing trying times or not.  The quality of your network matters more now than ever before.  Keith Ferrazzi’s book “Who’s Got Your Back” offers a wonderful take on this.

In an age of transparency, it is so obvious when someone builds up their network quickly, at an almost feverish pace, that they are friending you because they want something.  While I am more than willing to help those I respect and trust, I admit to a greater willingness to go out of my way for those people who connected with me because of a mutual desire to remain in contact.  The relationships tend to be deeper, based not on quid pro quo or desperation, but on a desire to assist and offer sound advice whenever, wherever and however it is needed.  A true friend indeed.