Networking refers to communicating and interacting with other individuals in order to make strong relationships. There has been quite an increase in the importance of networking and communication. They help build relationships within not just our daily lives but especially our professional lives as well.
So you might ask, why is networking so important?
Networking helps you to leverage and maintain relationships. Many leaders, decision makers and entrepreneurs can agree with this.Your business growth can take an exponential turn if you aren’t utilizing your network to its full potential.
The Endurance Group (TEG) believes that if a company exploits its connections and networks well, it can lead to great benefits and advantages for the business. It can help to close deals and attract potential customers towards them.
There are many ways to leverage and maintain your network, but how do you ensure that you are connecting with the right people?
And how would you engage in conversation?
What is your connection?
At TEG we understand the importance of networking. Not only leverage your current network, but we find the right connections and approach within the amount of minutes!
TEG has launched a new service called Commonality. It helps businesses and its key decision makers to take advantage of their connections and networks.
Commonality helps businesses by providing essential reports that help them to get deeper into their connections and make full use of their networks.
One of the reports TEG provides is Social Capital Inventory.
A lot of people are not aware of what social capital is. Social capital is the success factor for a company which is obtained from the relationships and connections from the people in the business.
Therefore the social capital inventory reports help you analyze your employees by reviewing their information. It sees where the potential customers lie. Eventually this helps you know how these connections can lead you to your potential prospects.
When you know how the internal people of the business are connected to potential prospects, you can make strategies on how to attract them towards your business and create a huge business opportunity.
For example, say you are business owner of a financial services firm in Boston, MA. Your ideal connection or prospect would be a fellow business owner, likely a prosperous start up, within the MA area.
If TEG were to provide a Social Capital Inventory report, this would show everyone that works at my firm, along with the commonalities that not just I could make as “a way in”, but for others to make as well.
The report would show several ideal prospect that myself and colleagues have a connection with. Perhaps we served in the Navy at the same time, or our Cheif Advisor went to the same school as another ideal prospect, or even worked at the same company.
The opportunities of networking are endless!
The other report TEG provides is a Commonality Report.
This report is connected to the Social Capital Inventory Report. This report analyses the social inventory report and then tells the best connections between the company and the potential targets of the business.
This way the employer or decision makers of the business can target these prospects because the better the connection, the easier it is to make an introduction and close a deal!
When TEG has narrowed down the best networks and connections for you to target, your sales and marketing team can immediately get to work. You can make good impressions by introducing your product or service to your target audience. Networking helps make the proper introductions between the business and the prospect as well.
This can help a business or a company exponentially grow and increase sales to top heights.
As we know, it is absolutely necessary to make good connections in order to turn potential clients to loyal customers. However, what is more important is to find proper connections between the business and your targets.
Stop wasting time networking with the wrong people!