SUCCESSFUL salespeople differentiate between networking and prospecting.
They know that each is a separate activity, often leading to a similar result.
Both processes are crucial when it comes to growing a book of business.
NETWORKING is the skill of contacting customers/leads through those you already know or may know through your personal or professional network. These “warm leads” typically result in a personal introduction: “Hi Bob, I’m interested in meeting Sue in your network – would you make an introduction?” This type of intro is ideal, and successful salespeople leverage this approximately 60% of the time.
PROSPECTING is reaching out to someone you don’t know and a key driver of the lead process. A salesperson may either (a) approach a prospect cold with limited results or (b) more commonly with successful salespeople, drill down deep to find a mutual connection and approach it with a heightened sense of familiarity. The latter typically involves research into the prospect’s network to determine the nature of their relationships with others and often leads to a better result. The cold prospect is now converted to a warm lead cultivated through networking and in a position to introduce you.
KNOWING the difference between networking and prospecting can MAKE all the difference.