Networking Events: Push, Pull or Repulse?

By Jason Alba
Career Transition Editor

As you network, whether you in a job search or not, do you find you typically:

a. attract people towards you, and get leads, offers and information with little effort, or

b. have to work hard to help people understand what you do and why you could work together, or why they should consider you as some kind of subject matter expert, or

c. have nice first-conversations, but hardly ever get a second or third conversation?

When I speak about personal branding, I talk about the power of a strong personal brand, and how it can create a pull marketing strategy, as opposed to a push marketing strategy. In a pull marketing strategy, people already know what you have to offer, or your value, or somehow relate what they know they want/need with what you offer. They come to you and want to engage, without any further education. Think about the things you "run into the store for" ... things like toilet paper, toothpaste, deodorant, bread, milk... these are things you don't need any education on, you just buy them. This is an example of a pull scenario.

In a push scenario, education is needed. Have you ever gone to a grocery story or super store (Costco or Sam's) and walked by a display table where someone is ready to let you taste a new product? Most of the products I see aren't new (salsa, tacos, some microwaveable thing, etc.), but they are new product lines for a certain brand. The person displaying the product shares all the great things about the product, why you should buy it, the price, and where to find it. You didn't go to the store looking for that product, but hopefully with their information, and a sample of the product, you'll like it and buy it. This is an example of push marketing.

I've seen very successful pull-marketing strategies executed online. In fact, on my JibberJobber blog I have a monthly recognition for people who are touting their personal brand in a way that is or should be successful. These professionals are letting others know about their professional passions, in their profession or industry. They are giving a window into their breadth and depth, and allowing others to determine if they are subject matter experts of thought leaders (or full of hot air). Many of them are building communities, and creating conversation amongst their readers. When they need something, have an announcement, want ideas, they can turn to their community, who already respects them.

I've also seen successful pull-marketing tactics at face-to-face networking events. One of the most important pull-marketing tactics in a face-to-face networking event is simply a smile. Other things, such as a nice handshake, ability to engage in conversation, initiating a conversation, and not looking around the room anxiously to see who else you can talk with (someone more important than me), help in your pull-marketing in a face-to-face event. Don't think you need to be an extrovert in order to successfully network in person. Introverts can do just fine (especially if they don't try and be an extrovert during this time).

While a push-marketing strategy is harder, there are things you can do to make it successful. Make sure you polish your "elevator pitch" or "30 second commercial" or whatever you call it. The more refined your pitch is, and the more you practice it (so it rolls off the tongue naturally), the more you should have people say "really, tell me more about that." Continually hone your elevator pitch, and work on the communication after that "tell me more" question. Stay on-brand... don't wander into stories and areas that won't help your cause, as you might just get a few minutes with someone, and you don't want to waste that time on things that won't help take your relationship to the next level.

Another critical thing to do in a networking opportunity is to ask questions, and then LISTEN. If you ask someone "what do you do?" you need to then listen, and become engaged. Part of this relationship-building process is getting (listening) as much as giving (talking), and if you can't listen you may quickly be branded as the guy/gal who just talks about himself. That's the person who no one wants to network with.

Of course, beware of repulsing others. It may be as simple as a dead handshake, bad breath, continually looking around at others, name dropping, bragging, not knowing when to shut up (or stop talking about YOU YOU YOU), telling inappropriate jokes or stories, hogging someone's entire time, following them around... the list can go on and on. Don't come across as needy or disrespectful, or your relationship may never go to the next level.

Push, pull or repulse. The difference can be subtle, but successful strategies are always planned, and on purpose. Let me know what you are doing to have a successful push or pull strategy, or what you've seen people do to repulse you! E-mail me at Jason@JibberJobber.com.

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Jason Alba is the CEO and creator of JibberJobber.com, and author of “I’m on LinkedIn – Now What???” After a corporate downsizing impacted Jason in 2006, he experienced firsthand the difficulties of conducting a job search. Drawing on his extensive computer software and IT experience, Jason analyzed the job search process and developed JibberJobber.com, the gold standard in career management technology.

Widely acknowledged as a leading career management evangelist, Jason continues to spread the word to job seekers through his blog, JibberJobber.com/blog. He is co-author of “I’m on Facebook – Now What???”and offers tutorials on how to fulfill the role of being CEO of You, Inc.

Jason Alba is: CEO of JibberJobber.com Author of I’m on LinkedIn – Now What??? Co-author of I’m on Facebook – Now What??? Founder of CEO Training for Me Inc.

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Networking Events: Push, Pull or Repulse?

Monetizing Relationship Capital, Part 1

by Adam J. Kovitz, CEO, Founder & Publisher

Adam's section is brought to you by Salesconx.com

Last month I completed a ten-month-long epic adventure into the Laws of Relationship Capital of which (coincidentally) there are ten. The Laws are about networking theory that goes far beyond what most of us know to be networking; collecting business cards/online “friends”/connections, working rooms, etc. And while networking theory is great in helping us understand the reasons why we collect cards/“friends”/connections and work rooms, it’s not necessarily for everyone. So…breaking from the ten-month-long streak of theory, I humbly submit the practicalities and applications of how people are actually making money from their own Relationship Capital. In the first part of this series, I will focus on what you and I can do as individuals and as members of organizations to create wealth from developing our own Relationship Capital.

What is Relationship Capital?

When we think of the word “capital”, we usually think of “money” or Financial Capital, and rightfully so as Financial Capital is the basis of our current economic system. Yet www.dictionary.com defines “capital” as “any form of wealth employed or capable of being employed in the production of more wealth”. When we perform a root-cause analysis as to how Financial Capital is acquired, it comes down to two major components:

1. What we know, and
2. Who we know.

This is the Ninth Law of Relationship Capital. The good news is that we have made considerable progress in valuating the “what we know”, there by deriving a more pure form of capital called “Intellectual Capital” and is now being used to valuate the true wealth of companies and individuals for purposes of mergers & acquisitions (M&A), stock offerings and for purchasing/selling. To a lesser degree, however, have we made advances in valuating the “who we know” into the other pure form of capital: “Relationship Capital”.

Evidence of the Less Understood Wealth Generator

Just because we still don’t completely understand Relationship Capital or have even begun to scratch the surface of its potential, doesn’t mean that it doesn’t exist. Examples exist everywhere of how we consciously or subconsciously valuate Relationship Capital everyday to make life’s decisions:

• Doing favors for family and friends – leveraging our own network of closest contacts to help us with things that either make us money (like getting a friend to help you get you a job) or save us money (having your general contractor son-in-law fix your house, without charging you for the labor)
• Rewards programs – companies understanding that strong relationships equal revenue reward their network of customers by providing incentives (usually in the form of points) that can be redeemed for products and services
• Investing in a new venture – people with high levels of Relationship Capital have an aura of believability and credibility. One of the first things an investor will look at when determining whether or not to invest their own Financial Capital into a new venture is the perceived level of Relationship Capital of the Management Team. Think about it; would you rather put own money into a new tech start-up founded by Bill Gates and Steve Jobs or one founded by John Smith and Mary Jones? Why?
• Hiring – aside from the degrees and certifications that typically make up the based requirements for some jobs, most that also require more “interpersonal skills” evaluate candidates based upon their believability and credibility. This is especially true for sales professionals who are often asked to “bring their own contacts” to the job.

Relationship/Network Mapping

When a public speaker prepares to address an audience, most experts agree that it is best to “understand the audience”. The same is true for effective networkers. So how do effective networkers “understand their network”? By mapping their network. Think of an organizational chart for a corporation…this a simple way by which they map out their own internal network. The science of networking, social network analysis, championed by such folks as Valdis Krebs maps networks using such software known as InFlow which allows organizations to map out their own internal and external networks. The software allows for what if? analyses to determine things like the effects of key employees leaving the company on knowledge transfer and succession planning.

Effective networkers do not necessarily need such sophisticated software but do their own mapping by analyzing their own key contacts. I do an exercise with groups when I discuss planning their own networks in which I ask them to choose five people that they know. Once chosen, I ask them to rank the “signal strength” of each relationship on a scale of 1 to 10. The higher the number means the better the relationship. Key indicators of a “better relationship” are typically determined by:

1. Frequency of contacts with the individual (via phone, instant messenger, in person meetings, etc.)
2. Average time spent with the individual
3. Known results achieved through such a relationship, including
1. Financial Capital generated and/or saved
2. Jobs realized
3. Intellectual Capital transferred and/or utilized
4. Levels of emotional support
5. Time taken to respond to requests for help
6. Social acceptance and/or affinity
7. Feelings of love, affection and/or respect

Maximizing Our Network Portfolio

Mapping our network is the first step to creating wealth by leveraging Relationship Capital. It gives us a baseline for seeing what we have. For many of us, we have only two choices if we are not getting the results we want with our current network portfolio:

1. Expand it, or
2. Upgrade and/or maintain it.

Why the term “portfolio”? Back in 2004 I made a startling realization for myself as I was researching networking organizations across the globe – every network is an asset. In the popular book Rich Dad, Poor Dad, Robert Kiyosaki and Sharon Lechter define an “asset” as an item that produces revenue. This means that a network is no different, in theory, than a real estate property, stock, bond, mutual fund, etc. Like traditionally-recognized assets, networks:

• Require an investment (usually of money, more often of time) in order to achieve a return
• Are managed by those who are competent enough to add value to the bottom line, and
• Have a constantly-evolving portfolio of holdings.

Quantitative Approaches: Expansion

The Third Law of Relationship Capital states that one of the ways to build Relationship Capital is to increase the amount of relationships one has. Just like we mind our Financial Portfolio and occasionally see fit to add to the overall diversity of holdings, we can expand our Networking (Relationship) Portfolio by:

• Attending more offline networking events – this means getting out of “cave-dwelling mode” as fellow TNNW writer, bestselling author and Founder of BNI, Ivan Misner puts it and seeing more people. In his book, The World’s Best Known Marketing Secret, Ivan discusses making oneself visible as a means of achieving credibility. The more credibility one has, the more Relationship Capital (Ivan calls it “profitability”) one has.
• Collecting more business cards – at events, the more one collects, the more opportunity one has to expand their network. Effective networkers will enter or scan the cards collected into a contact relationship management (CRM) system like Outlook, ACT! or Goldmine.
• Making more “friends” online – thanks to new online venues like LinkedIn, Facebook and Myspace, people are expanding their networks in ways they have not before. This has become a viable alternative, if not adjunct to offline networking. While I’ve found that most people will connect with you as a “friend”, there is less depth to a relationship, although the key indicators of a better relationship as stated above do apply and deep relationships do have the potential of forming.
• Joining/Participating in more new networks – the more new networks to which you become active, the more people you will meet – it’s the law of statistical probability and it has been employed by sales and marketing professionals since there were sales and marketing professionals.

Qualitative Approaches: Upgrading

The Fourth Law of Relationship Capital states that we can increase our Relationship Capital by bolstering our current relationships through further enhancing positive perceptions of ourselves. Just like we would put additional money into assets that are currently performing well for us (or we think might start performing well for us) in our Financial Portfolios, we can upgrade and/or maintain our Networking (Relationship) Portfolio by:

• Increasing frequency and length of contact with key relationships – this could mean regular calls, checkups, outings, etc. When we want to do something special for our family, instead of buying more things like toys for the kids or items for the house, we can also invest in special outings like day trips and picnics or family vacations to encourage bonding. In business, this can mean after hours parties, team building retreats or golf games.
• “Sweetening the pot” – companies offer incentives all the time to reward its customers for their years of patronage or for just “switching over” to them. This can include discounts on pricing, value added services, and promotional items.
• Minding the “golden rule” – Human Relations 101 says to treat people the way we want to be treated. The studies of customer service, hospitality and generally being of service to others goes a long way to build positive flow of Relationship Capital, especially when we “walk our own talk”
• Following up – Sending thank you notes, recognizing others for their work and calling people back after you’ve had a pleasant first meeting in person go a long way to ensuring that the business cards/online friends become more than just names that get forgotten (Relationship Capital goes to zero – Fifth Law of Relationship Capital for those keeping track). You wouldn’t want to be forgotten would you?

If we begin to look at Relationship Capital the same way we look at Financial Capital, we can almost imagine having Relationship Capital Accounts where we make deposits every time we work to improve or at least maintain our relationships while forgetting about or doing a disservice to others would be considered a withdrawal. Each network, therefore, acts like a bond fund/mutual fund/hedge fund in which we can both build potential for and get fantastic returns on our Relationship Capital.

Next month we will look at those whose business is networking. The networking industry is alive and well and these creators and brokers of networking assets make a living from helping you and I earn the best return we can on our Relationship Capital. Stay tuned!

The Emergence of the Relationship Economy

Relationship Capital is the cornerstone of the Relationship Economy, which RNIA defines as an “economic system in which Relationship Capital influences the production, distribution, exchange, and consumption of goods and services.” I am proud to have contributed discussion of the Ten Laws of Relationships Capital to the upcoming book The Emergence of the Relationship Economy, now out as an eBook and in hardcopy. With a forward written by Doc Searls (of Cluetrain Manifesto fame), it is being considered a “must read” for anyone responsible for the strategic direction of their business. If you would like to purchase your own copy of The Emergence of the Relationship Economy, please click here.

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Monetizing Relationship Capital, Part 1

Better Business Networking – Part II

By Peter Biadasz
Southern Plains Bureau Chief
(Missouri, Arkensas, Louisiana, Kansas, Oklahoma, Texas, Colorado, New Mexico)

In March of this year I reported to you about a great monthly networking function in Colorado Springs, Colorado called BUZZ WITH THE B’S, hosted by the local Better Business Bureau (BBB) and Business Network International (BNI). I am happy to report that in July I was not only able to attend this great function, but was also the featured speaker, presenting my Networking 101 speech. A fun and informative time was had by all.

To remember all of the background information on the BBB and BNI I refer you to the March article. For current insights read on.

BUZZ WITH THE B’S is held the Second Friday of every month from 7:15 a.m. - 9:00 a.m. The meeting is in a great setting, a golf clubhouse, with large windows overlooking a golf course with the mountains in the background. I will admit that while I am partial to the ocean, but this is a beautiful setting. I arrived early to set-up my books and other speaking items and found everyone very friendly and helpful. I point this out, because amazingly, there are venues I speak at in which the people are not friendly and helpful. This always puzzles me, especially in networking settings.

Diane Stevens, Director of the BBB Foundation, not only made me feel right at home, but clearly demonstrated that she runs a very well organized event. No detail was overlooked. I cannot thank her, her staff, and the meeting attendees for their hospitality and professionalism. What a great group of people.

Networking began at 7:30 am as everyone ate a buffet style hot breakfast. You could tell by the volume level of conversation that there were some great networking connections being made or strengthened. Diane then introduced a group member who gave a very good 15 minute presentation to highlight their business. Then Diane introduced me as Southern Plains Bureau Chief from The National Networker/Author/Speaker, and I presented my Networking 101 speech, complete with trumpet. The audience was very attentive and receptive. They took a lot of notes, always a good sign, and asked some great questions.

Then we had some real fun as everyone gave their 30 second commercials. During my presentation I have a section on how to give your most effective 30 second commercial, also known as a elevator speech. Well, it was obvious that some people not only took good notes, but re-wrote their commercial on the spot. I witnessed some very entertaining and informative commercials. This is obviously not a shy group. Even the first timers presented like experienced networkers. Lots of laughing too!

Many times I gauge the success of a network meeting by how many people either stay and network after the meeting is dismissed or by how many people make networking appointments with each other after the meeting. At the conclusion of BUZZ WITH THE B’S networking continued for over 30 minutes.

In talking recently with Diane she noted to me that in subsequent meetings the quality of both the 30 second commercials and networking have increased. Additionally, the group is getting bigger. Outgrowing their current location is a problem many networking groups would like to have.

I will be speaking to BUZZ WITH THE B’S again in May of 2009. Maybe I will see you there.

For additional information on how you can participate in this as well as other networking activities of the Better Business Bureau of Southern Colorado feel free to visit www.bbbsc.org. No matter where you live, visit your local BBB to learn is how it is promoting networking in your community.
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Better Business Networking – Part II