If you run a business, you and your team are doing business development activities. You’re calling prospects, attending networking events, attending industry conferences — doing the necessary work to meet and develop new connections.
In and of itself, that’s great. But it’s also, of course, an investment of time and resources. A good, necessary investment. But an investment nonetheless.
So, the question arises: are you ensuring the best return on your investment?
For too many businesses, the answer is no. And the reason is that you’re not getting your new leads and contacts into a system. You’re only focusing on hitting home runs, and neglecting all the benefits of the singles you could hit as well. Too many people go to a networking event and consider it a waste or a failure if they don’t meet somebody immediately or nearly immediately interested in doing business.
Obviously, finding near-term, high-value prospects immediately is great when it happens. But most times, it won’t happen. But what about those other people, who don’t have an immediate need now? Who perhaps might need you in six months? You’ve done the work of meeting them. You should nurture them.
Get them into your CRM system. Maybe set a reminder for a follow-up in a couple of months. Make a note in their CRM profile of the details they shared with you during your brief conversation. That data is valuable–you earned it by networking at that event. Don’t throw it way.
Play the long-game. You’ll be surprised over time how much value –and revenue– your business can reap from hitting a lot of singles regularly.