How to Get the Most Out of Your First Networking Event

Networking can be one of the most effective marketing tools for small businesses. 85 percent of small businesses say customers learn about them through word of mouth, far ahead of search engines at 59 percent or any other lead generation method, according to a recent survey of small businesses conducted by Verizon. Among word of mouth marketing methods, networking is one of the most important, with 36 percent of consultants saying they spend more time on networking than any other marketing method, and 34 percent saying networking generates more revenue than any other method.

One easy and effective way to network is attending networking events. Here are some strategies you can deploy before, during and after the events you attend to get the most out of your networking efforts.

Preparing for the Event

Network marketing strategist Paul M. Johnstone says that in order to measure the effectiveness of your networking efforts, it’s necessary to set realistic, achievable goals. For instance, when Johnstone is attending an event where he doesn’t know anyone, he sets a goal of meeting seven new contacts. At events where he already knows the participants, he tries to spend at least three to five minutes with each attendee. You can also set goals in areas such as how many business cards you plan to collect or how many LinkedIn connections you plan to make.

To get the most out of your networking efforts, it’s important to research your audience. This enables you to focus on quality connections that can extend the reach of your network and your ability to promote your brand. One way to research your audience is to read online profiles of featured speakers or sponsoring companies. For instance, if you were attending an event with a booth representing Amway, you might read Forbes’ online profile of Amway to get a feel for the company.

When approaching new contacts at networking events, you can make the most of your time if you come prepared with an elevator pitch. An elevator pitch is a summary of what you do that is short enough to be delivered during an elevator ride; ideally it’s about 30 seconds or less. A good elevator pitch should briefly identify who you help and what you do for them.

What to Do While Attending

The most important thing to do while attending networking events is to capture contact information from prospective customers and referral partners. While some people focus on passing out their own business cards, this is actually building someone else’s contact list, whereas collecting others’ contact information builds your own network.

To collect contact information, you can use several methods. One is collecting prospects’ business cards and marketing material. You can also just use a pen and paper to write down contact information. If you want to be more efficient and enter data directly into your electronic database, you can use digital tools such as Quick Tap Survey, iCapture or CamCard.

Following Up

To make practical use of the contact information you collect, it’s crucial to have a follow-up strategy. Send a follow-up email mentioning your encounter, making small talk and inviting them to get together for lunch or coffee. Connect with them on LinkedIn. Schedule reconnect emails, texts or phone calls on a periodic basis to stay on your prospect’s radar. Send out greetings for birthdays or holidays to keep in touch.