Urban Jungle Myth: Use Your Network

Discussions about how to win new clients usually involves discussion of the “network" myth.

You may have recruited experts to your company in order to have access to their professional networks. Word of mouth marketing and referrals is the most dependable way for specialized, knowledge services to win new clients. 

And yet, when it comes to getting inside large, complex organizations, the “network myth” becomes apparent.  How often has the expert you hired on the strength of their network been disappointing?

I call it the “network myth” because everyone's network which has been built face-to-face has a geographic limitation.  Not only is a referral from a personal network likely to be to a peer, with similar background and responsibilites, but there is a likelihood of that access being limited to one business level or one geographic location. 

"Natural" networks may not provide access to the “dream client” companies on your wish list. Social networks are frequently a mirror image of an individual.  If you are a CPA, your network will probably include a lot of folks like yourself. Moreover, your network will probably represent a specific industry and specialty.

Let’s say you are considering hiring a CPA who has spent most of their career in consumer packaged goods, supply chain financial management because they would understand you.

Your firm has a lot of consumer packaged good companies on your roster but you’d like to do work in the wireless industry. 

Will hiring this person, even though they have a Rolodex to die for, help your firm to diversify into the wireless industry where long-term prospects are probably better?

Catherine Mcquaid is a Big Game Hunter in the Urban Jungle. Her clients are mid-sized business services firms who want to win consulting assignments with the Fortune 1000. Trained as a semiotician/literature critic, she runs a key account development business. 

Her strategies for engaging senior executives of large companies can be used by big game hunters everywhere.  She writes on Major Account Acquisition strategies.

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To contact directly: email,  phone, 416.923.0877; Skype: cmquaid

 

Comments

[Itessarrism]

maraBreenny, http://forum.dotnetpanel.com/members/valium.aspx, Doxwannasen, valium online, Teltbloof

[Jim Love]

Great post, Catherine...

I cringe when I hear the phrase "rainmaker" or similar ideas expressed by businesses who are looking to exploit someone's network. Usually (and this is a giveaway in a web based world) the supposed "rainmaker" is described as having a "huge rolodex".

Has anyone ever seen this payoff? Or are networks just another place that size doesn't count?

Here's the advice that I give to companies I work with.

Sales and marketing are a discipline, built by hard work and practice. The help you need is objective advice and someone who knows what process you need to follow. That's where you get a real benefit. And to anyone reading, Catherine is one of those professionals who does know what to do. They are well worth engaging.

But no one reputable is going to promise to magically sell your product for you.

Stop looking for a rainmaker. Get out there and make your own rain.

[Ted Morris]

Catherine, Good points here. Too often those who come with a Rolodex fall short in delivering within 6mos of hire date. Best referrals have always come from clients and most profitable business has come from upselling and cross-selling within the client enterprise. Best sales people understand consultative selling, the offering's value proposition and how to manage a clients buying process. Cheers, Ted.