Peggy Edge presents at Dallas Referrals Network

Peggy Edge presented “Key Steps to Effective Business Networking” to the Plano Chapter of Dallas Referrals Networking on Friday, January 16th.

Her presentation included the importance of determining your Return on Investment (ROI) for all networking activities; crafting an effective 30-second commercial; and identifying and training synergy partners so that they can help you grow your business with warm referrals.

Sales: Providing Client List to Vendors

Do the manufacturers of the products you rep require that you reveal your client list as a condition to do business with them?

Recently I was getting ready to purchase some packaging products for a client when the manufacturer wanted to know the name of my and how much product they buy from me annually.

Initially, I responded to the email with all of the information that they requested. However, just before I hit the send button, I had second thoughts about this request.

They didn’t give me an ultimatum but on numerous occasions of recent they wanted me to reveal the name of my client when I purchased products.

In the packaging business, there is no exclusivity of products. I can purchase the exact brands from several vendors. In addition, I am under no contract or obligation to buy from only them.

Even though we don’t have a contract, we do have a gentleman’s agreement that we do not call on each other’s accounts. I have always honored this agreement because I respect their position and consequently I expect that they will respect mine as well. Furthermore, I strongly believe that either one of us is shooting ourselves in the foot if we breach that verbal commitment.

This particular supplier does have a direct salesforce who sells to end users. Historically, there have been times when I have provided a client’s name in order to protect my own interests within a particular account. However, I have done this readily because I did not want their sales representatives bird-dogging my accounts.

The bottom line here is that we are not talking about doctor/patient or lawyer/client privileged but in all honesty I do not feel this is any of their business whatsoever to know the names of my customers. What are your thoughts on this?

Peggy P. Edge © 2015

Strategic Networking Plan

A Strategic Networking Plan is a “must-have” inclusion in an overall Marketing Plan for any business or individual.

When you map out a plan of attack, for your networking activities truly, you can be extremely successful growing your business with a plethora of warm introductions and referrals thus minimizing the need to cold call.

Here are a few key steps to drafting a Networking Plan:

• Return on Investment (ROI)
  • Start by evaluating last year’s results.
  • Assign a cost to your hard and soft expenses – How much does it cost you in time to attend each event?
• Identification of Strategic Partnerships
  • Create a list of every connection and analyze how they might be eligible to be strategic to your partnership.
  • Do you have new products/services offering where you will need to identify new connections?
• Development time to train those partners
  • Set up a schedule to meet with your networking partners and share with them what you expect to accomplish during the year and how they can be an integral part of your success.
• Tis’ better to give than to receive.
  • How you are going to be of service or assistance to others. It could be as a mentor, trainer or leader.
• Social Media
  • Include in your plan the utilization of social media in your networking activities for the year.
• Craft engaging 30-Second Commercials
  • Create at least 3-5 different commercials, then practice, practice, practice in front of a mirror, using a stop watch.

Peggy works with corporate sales teams and individuals to develop their Strategic Networking Plan.

Peggy P. Edge (c) 2015  (Portions of text are excerpts from “5 Key Steps of Effective Business Networking” – Peggy P. Edge (c) 2012)