Become More Valuable to Vendors

Vendors want solution providers that are going to accelerate their sales. A little strategic thinking, alignment with vendor expectations and good planning will put your solution provider business in good standing with your vendors.

IT vendors are announcing layoffs and restructurings, there is no better time to be a solution provider– that is if you are ready to be one of the 20 percent driving the 80 percent of sales for a manufacturer.

http://www.channelinsider.com/c/a/Commentary/Become-More-Valuable-to-Vendors/

Social Networking: The Subject Matter Expert

Are you a subject matter expert?  A subject matter expert is the “go-to” person for their customers and social network contacts.  These experts are seasoned professionals with references and a portfolio of proven success.  Subject matter experts get the customers, win the bids and are answering the phone rather than cold calling.

Interested in being an expert?  Then begin thinking like one.  An expert by definition is “having, involving, or displaying special skill or knowledge derived from training or experience.”  In other words if you can demonstrate that you know more than most and are recognized as a leader within a community you are an expert.

http://www.kingfishmedia.com/thinktank/2008/11/07/social-networking-the-subject-matter-expert/

Belt Tightening: Simple Cost-Saving Tips

Every company from the Fortune 500 to Main Street shops are re-examining their costs. Here are a few simple things that can help make a noticeable difference in your expenses.

The news out this week is grim. Unemployment has reached a 25-year high and more layoffs are in the offing. The Dow Jones Industrial Average—the barometer of our economic health—continues to drop at record rates. Retailers are reporting the first declines in 20 years and there is news of the three big automakers consolidating to the big two.

http://www.channelinsider.com/c/a/Commentary/Belt-Tightening-Simple-CostSaving-Tips/

Social Networks for Business: Turning Contacts Into Leads

I am sure that by now you have perfected your “about me” and “profile” pages on all of your social networks.  You have opened yourself to networking outside of your known circle and you are sending personal notes when you extend or accept invitation.  Your network of contacts has grown from hundreds to thousands of business professionals.

During this process you may have noticed that a large number of both corporate and private recruiters are looking to connect.  Recruiters are by nature active networkers.  They understand that they may meet the next great hire directly or indirectly through their network. Recruiters are experts at turning their contacts in leads.

So how do you do this?  I recommend three easy steps:

1.  Open a conversation with each of your contacts.  As I previously mentioned I respond to each invitation with a personal message.  I do have a form message that I personalize based on the profile of the individual.  I do the same with invitations.  I share what I do and what I am looking for.  I always ask for the business.  I am networking to grown my business.

2. Have “free” items available.  White papers, links to your blogs or anything that will share your expertise with the potential lead.  This is a validation process for them.

3. Set telephone calls to follow up individually.  I may spend 4-5 hours a week networking on line, but I spend an additional 8-9 hours in follow up calls and sending out information to prospective clients.

LinkedIn has added discussion functions to each of its groups.  You can send out a question or even a specific job request to the group.  This is also an excellent place for you to answer questions and position yourself as the expert in a specific area.  If in responding to a question you see an opportunity to ask for the business I often choose a “private reply” versus and open posting.  This allows me to contact the individual directly and share with them the benefits of my company and how I can assist them with their specific question or need.

Ready to jump offline and add an in person social networking option?  I recommend BNI . BNI offers everyone an opportunity to grow their business through referrals.  I use BNI to supplement by Facebook and LinkedIn communities and increase my local area leads.

Careful feeding, watering and farming of your contacts can turn your social network contacts in leads and revenue for your business.

Driving Business Through Social Networks.

I  love to network.  I think I have been networking since I was in the third grade and introducing people to other people and looking for who had what in their lunch and who was looking to trade.  I am a bit older and I rarely find people looking to trade lunches, but I do find leads for my business and others through social network sites.   Networking online allows me to work a much larger lunch room and I make money versus Hostess cakes.

I have about 2400 contacts in my LinkedIn community and there is a fair amount of discussion on how to use LinkedIn or any social networking site to drive leads and increase your business.  I recommend that all users following five simple steps:

Understand the rules.
Social networks come with their own rules.  Be sure you understand what is acceptable in your communities.  On LinkedIn if you send an invitation to someone and they list you as “do not know” you will be unable to openly network without emails of the people you are trying to contact.  On Facebook not all of your discussions should be posted to walls, some require contact to contact messages.  You can often look at discussions posted online or in the FAQ section.

Build your profile as if you are building your website.
On LinkedIn your profile is not only a personal resume, but a resume for your business.  On Facebook you are walking a thin line of family, friends and business.  You can choose to have a personal page and a page for your business.  Keep an eye on what pictures you post on Facebook.  I cannot tell you how many small business owners loose business based on a picture they posted on Facebook (the holiday Christmas party should not be an open posting).

Start with the network you know. 
On LinkedIn you will need to just type in names in the search bar and request connections, on Facebook you can import your contacts from most webmail applications.  Add a personal note to each invitation.   Your note should include a short introduction from you, why you want to add this person to your network and why they should link to you.

Grow your contacts through open networking.
Move to the community that is available to you through your contacts.  On LinkedIn you can join the open networker groups (there are at least three) and you will receive invitations each time the new “invite me” list is shared.  On Facebook you can request anyone to be a friend, but the best way to grow quickly is to ask your friends to suggest contacts for you. 

Always ask for the business.
Anytime someone accepts your invitation or you accept theirs, follow up with a thank you note.  I suggest that you include not only your thanks, but what you are looking for business wise and ask what you can assist them with.

Wondering if it works?  I have driven more business in the last month through my LinkedIn contacts than I did on my last two direct mail campaigns.  By communicating in a personal manner both at the time of the invitation and when an invitation is accepted you create an active network.  Active networkers are open to growing business and will share leads with you if forward leads back out.