Young Social Entrepreneur

A skill that I believe is often undervalued in a sales environment is the power of strategic networking within key accounts. I have found this to be the most effective tool to gather new leads with a high rate of conversion to sales. There a few simple steps that you might want to use to improve strategic networking.

Mapping your accounts

If you are managing an account, is the person you are dealing with in the best possible position to sign off work? Or are they always refering to someone else in a more senior position? If so then you may be talking to the wrong person.

Depending on the size of your client it might be helpful to approach them as if they were an industry. Carry out a full marketing analysis of the firm as there may be multiple contact points that you could be offering services to. Different parts of the company have different needs. Your current contact may only have a limited purchasing power.

To map the client try to find an organisational chart or, if you have enough time, research online to build your own. You should soon have an understanding of the areas of the business that may be interested in your services as well as who you need to be in touch with to get things moving.

Now that you have identified your key decision makers how do you get to them?

Strategic Networking

At the end of each and every client meeting ensure that you ask the three W’s.

‘What’s next?’ What is coming up next for them - this could you be your source for expanded business sales.

‘When shall we meet’ - arrange your next meeting at an appropriate interval to keep the relationship sweet.

‘Who’ - this is the most important for strategic networking - You are asking who else do they know that could benefit from your services. This can lead to them telling you about their company structure, who reports to who and where they fit in the business. You might also want to ask about the purchasing process and who has authority to sign things off. If, from the account mapping process, you know who you are targeting then ask your contact if they know the target contact and if not how best it would be to get in touch.

When your clients are used to you asking this type of questions you will be surprised at how helpful they can be in making introductions. You might even be in a position to ask them to forward your marketing emails onto relevant contacts.

Converting a sale

Remember, a referrals is far more likely to end up as a sale so it’s worth putting the effort into mapping and networking your accounts rather than going in cold.

Lastly, always look for opportunities to meet more senior staff, I often offer to come and sit in with my clients on meetings in case they need expert advice. When I am taken up on this offer I am put in a position where I have the opportunity to network with a host of key decision makers.