How do you get business from your social and professional network?
By Rajesh Setty on Sun 18 Jan 2009, 12:30 PM – 7 Comments
Variations of this question include:
1. How do I convert my LinkedIn contacts to prospects and then to customers?
2. How do I get more business from Facebook?
3. How do I monetize on Twitter?
In summary, the #1 question when it comes to social networks and business is:
How do you get business from your social and professional network?
The question seems like a valid question especially because people spend a LOT of time on social networks.
Quick answer: You don’t! It happens automatically if it supposed to happen. Let me explain –
The question is flawed in the first place. The question makes an implicit assumption that you may be in the social network to GET something rather than to GIVE.
A better question would be:
“How do you contribute “extreme value” to your social and professional network without breaking your back?”
Your network in one sense is your sphere of influence. You grow that sphere of influence by contributing value to the network. What you get out of it – is an assessment within your network that you bring value to the marketplace, that you may be an opportunity for them and that you may be a wonderful addition to their team if they can work out a business arrangement.
With the right strategy and execution, the key assessment you will create is that in order for them to reach their goals, your SPECIFIC help will be valuable and it will be WORTH the price that they have to pay. That, in effect, is new business for you.
All the best!
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7 Comments so far, Add Yours
Steve Livingston on January 18th, 2009
Raj
I think this point will become increasingly prevalent as more and more businesses seek to tap the growing popularity of social networking as a means of increasing revenues and profits.
Re-phrasing the question as you put it is exactly right, however, I fear that this approach runs counter to the way in which many established businesses are used to marketing to new customers. It could be a painful transitional process for many….
Best wishes
Steve
ochuko on January 18th, 2009
I agree with you Raj. I think the keyword here is “Adding Value”. If you add value to the network, then when the need arises, it will definitely translate to monetary value with little efforts…
Generating Business from Social and Professional Networks | Steve Livingston on January 18th, 2009
[…] If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!Rajesh Setty raises the important question: “How do you get business from social and professional networks?” […]
Stan Smith on January 18th, 2009
We have had an ongoing conversation about this on my marketing team and somehow you managed to write my exact thoughts on the matter. Thank you!
Rajesh Setty on January 19th, 2009
Phil, Steve, Ochuko and Stan:
Thank you so much for stopping by and thank you for your comments here.
Have a great week ahead.
Best,
Raj
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[…] How do you get business from your social and professional network? […]
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Phil Gerbyshak on January 18th, 2009
You are 100% right Raj! the more value you add to people’s lives, the more they will want to work with you naturally. Sure, you can force people to work with you…once. I don’t want you to work with me once…I want a long-term relationship.
Great advice!