Posts Tagged ‘new business growth’

Waiting for Referrals Will Kill Your New Business Efforts

At some point, every new business person has been presented with this situation: A prospect comes to us that heard great things about what our agency does from a previous client and they think we are a great fit for them. Unfortunately, we don’t think it’s a great fit. They could be too small of a partner, in an industry we don’t want to work in, or located in an inconvenient region of the world. Whatever the reason is that they aren’t a perfect fit, we are left with the problem of needing new business, having an “easy” win standing in front of us, but possibly taking on another client that could be more pain than they are worth. What do you do?

Whether or not you choose to work with the referral above, there is an easy solution to the dilemma. Actively seek new referrals and STOP WAITING for them to come to you. If you are trying to truly grow your agency this year, sitting back and waiting for those referrals will not lead to double-digit growth. We need to proactively build a referral machine that will generate conversations between our networks with companies that we actually want to work with. So how do we go about doing this?

Creating a true referral machine has a ton of different pieces that incorporate almost every piece of your agency. Your marketing, sales, account management, executive team, and social presence all need to be aligned in order to really build a scenario where referrals produce themselves naturally in an organic way. If you want a great book on referrals, I would recommend “The Referral Engine” by John Jantsch. While he has gone through many of the points above, the one that I believe is most applicable for my new business directors and easiest to institute immediately is the idea that “the most easily referred companies are naturally social”.

So what is “naturally social”? In the new business world, to me it means that you are creating content that invites conversation, telling stories via blogs or video, working with partners to deliver content that is of value, and most importantly, actively having conversations within your immediate and extended networks. The last part is where we tend to see people who fall off the most, reaching that extended network. We all work to build these LinkedIn networks, and then we find ourselves only really “liking” content or posts that come from those that we know the closest. Well, those folks are already the most likely to send us a referral if they come across one, right? What I want to push my new business directors to do is find specific companies that they want to work with and then utilize those extended (and less used) network contacts to generate a conversation. There’s a really simple process that you can take advantage of tomorrow to do this:

  1. Build a list of prospect companies
  1. Search each company in LinkedIn and find their most applicable contact for prospecting that is also a 2nd-degree connection.
  1. Identify your shared connection with that prospect and request a referral directly to that prospect company from your shared connection.

Seems simple right? Here’s the key part – make the referral EASY for your shared connection. Too often we either a) simply don’t ask our shared connection for a referral or b) we put the onus completely on them in terms of coming up with the reason for the referral. The idea here is that we want the referral ask to be specific, time sensitive, and pre-written for our connection. This allows them to simply forward on a message with as little work as possible for them. And because your message is time sensitive in nature, we have a built-in urgency to the request for referral.

Here’s an example:

Hi (First),

I was hoping you could help me.

You’re connected to (John Smith) of (Company) and I have some (Valuable Marketing Intelligence) that I’d like to put into their hands, and it’s a bit time sensitive. 

Since you two are connected on LinkedIn, I hoped you’d be open to introducing me today with the message below?  Feel free to edit as you desire:

 -Or- 

(First Name),

It’s been a while since we last connected – hope all is well! I thought you’d be interested in this introduction to Matt Chollet (cc’d) who has competitive market intelligence on (Company) that he wanted to ensure got into your hands today – it’s time sensitive and may impact your competitive media investments in Q3.

I’ll leave it with you both from here, hoping this is a valuable connection for you.

Best,

The essence of the above sample is the fact that all your referrer has to do is hopefully copy and paste two sentences, sign their name, and move on with their day. By making it simple like this, you take away the hurdle of creating a whole new message themselves.

By building a very simple, straightforward referral plan like this, with a straightforward referral request, we can begin to proactively create referrals around prospects that we actually want to work with.  Hopefully, this pushes us from a place of hoping and wish for referrals, to actively pursuing and engaging referrals on a daily basis that can convert the types of prospects we really want to work with.

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Time of Day Matters in Business Development

“How do I get more hours to devote to business development? I can’t give you more hours in a day, but I can give you times of the day that will make your hours more effective.”

In the new business development world, our time is everything. We are all trying to figure out how much time we need to spend prospecting vs cultivating vs RFPs. How we go about prioritizing this time and what we do very often depends on working around our schedules of executive meetings, client meetings, and putting out fires. What happens, time and time again, is that we wind up doing our prospecting and cultivating activities at odd times when we actually get a few minutes free. We have to change this mind set if we are going to really grow our agencies biz dev, by making our schedules work around the very best hours for business development.

“Time of day matters for outreach. People as a whole have certain, generally consistent behaviors across jobs and industries that typically occur at the same time each day. As business development professionals, we need to understand our prospect’s schedules and work to maximize our efficiency around them and the way they behave.”

Timing your Business Development:

6:00 8:00 AM – Action emails are most likely to get a response between these hours. This means that those one to one, text only emails where you are asking for a direct meeting or a call are best  to be sent first thing in the AM, before their inbox fills up.

8:00 – 9:00 AM – Get on the phone.  While most agency new business people I speak with are deathly afraid of phone follow up, the fact is that a real conversation can absolutely separate you from the barrage of stock emails that marketing decision makers receive every day. Most of these decision makers are available first thing in the morning, before the active work day gets started, and at the end of the day, once they are prepping for the next day. They are most likely to pick up the phone not only during this time, but you may be able to avoid a receptionist or two, as decision makers are typically in the office before most employees.

10:00 Noon – I’m on LinkedIn during this window either actively prospecting, working referral networks, or posting new content to Pulse or our blog. Studies show that LinkedIn is used heavily during the day for most professionals, and the chance for content reads increases after the 10am hour.

Noon – 1:00 PM – I use this time to scan and curate content through my social channels. Some of these posts I automate ahead of time (with a free Buffer account), but since Twitter tends to be used more as a feed that is reviewed on commutes or breaks, lunchtime is a great opportunity for me to  amplify any content messaging in order to increase views and hopefully clicks/reads.

2:00 4:00 PM – Back to email, but this time, I’m focusing on content related emails. This means that any of my marketing automation around content are typically either being written and sent at this time, or I’m scheduling them to go out for future dates around this time. The key is, these are content related for delivering knowledge and interesting reads. Research has shown that while replies are lower around this time, opens and reads tend to go up during these hours post lunch, so take advantage of a few free minutes where their mind may be open to reading a blog post or case study.

4:00 PM and later – I’m back on the phone trying to catch prospects that are wrapping up their day and planning their next day. Most times meetings are held before this time, so with less meetings and more planning occurring, now is your time to catch a few more people on the phone rather than earlier in the day.

No matter what your personal schedule looks like, it’s important to consider how you go about timing each prospecting activity in order to maximize the effectiveness of each.  With so few hours in every day, maximizing our prospecting time is key in order to drive the number of quality conversations we can have each day.

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The Right Way to Expand and Segment Your Target Audience

Any successful new business strategy starts with knowing who your target audience is. As an agency you have likely already honed in on your unique value proposition and are ready to start engaging with prospective clients.

“A critical piece many agency new business professionals miss out on is making sure they have a broad enough target audience to sell and market to. We find that the key to fueling your marketing and sales efforts is an effective, targeted AND substantial audience.”

When working with our clients, we’re often asked, “How many prospect records do I need?” To get the most from your outreach, we recommend a minimum of 3,000 with the goal of having 5,000 that you can continuously engage with.

Those numbers might seem like a lot but keep in mind there are tools to help you build out your prospecting database. In fact, many of your agency peers are likely using one. According to the 2016 Mirren/RSW Mirren New Business Tools Report, 9% more agency executives are investing in list building tools (compared to 2014) to help grow their new business. Our clients typically use Winmo, however there are other resources like Hoovers, Data.com and LinkedIn to help you create hyper-targeted data sets.

The importance of audience segmentation.

As you continue to grow your prospecting audience, segmenting the data into relevant batches is very important as it keeps our content highly relevant, even when we begin to do outreach in groups of hundreds or thousands. We are not looking to spam the world with emails and phone calls, we are trying to deliver less often, but with more impact.

“By properly segmenting our audiences, we are able to ensure that the right content gets in the right hands at the right time.”

When I begin to look at a new agency list, I often segment prospects into these three groups to help us prioritize outreach and customize content:

1) Right to Win

Right to Win clients are those that are a perfect fit for our solutions. We set parameters for what a perfect client is for our agency: what issues they have, where they are and what they specialize in. If they fit those criteria, then they HAVE to be working with us and we need to talk to them in such a way that shows our perfect fit. This is likely to be a somewhat smaller group, as we are talking about perfect here. The goldilocks zone of prospects!

2) Great Fit

This will be your biggest group of prospects. They have a problem we can solve, but may fall just outside our parameters on a few criteria here or there. Maybe they are a bit outside of our typical geographic region, slightly bigger or smaller in revenue ranges, or they’re an industry adjacent to our sweet spot. If they fit 95% of our criteria and we can recognize and solve their problems, then I want to be sending them content. Too often I see agencies immediately give up on quality prospects because they put so many restrictions and criteria on who they can work with. If you want to grow, consider widening that net just a bit.

3) Stretch

This is may be the smallest group, as they are more of ‘passion projects’ from the team – or the ‘great white whales’ that would be incredible to land. They are probably not worth committing the majority of your 1 to 1 new business time to chasing, but landing one could make a huge difference in morale or revenue. Putting them in your drip content is a great way to keep them warm and fish a bit, without taking away from your time that you spend on those prospects that are going to be your stable base of revenue in the future.

Keep in mind this is just one way to segment your data. Every agency has a different strategy, and how you go about slicing your sales intelligence might be very different. Some find that the easiest way to group prospects is simply by industry vertical, while others choose to base their groupings off of job titles. Taking the time to think through who you want to be working with, and more importantly, what your prospects care about, will help you determine just how your agency should be dividing your prospect target list.

Lastly we need to remember, we are segmenting these groups because we want to get bespoke, quality content in front of the most appropriate people. Each new group you create is going to require their own set of targeted communication and targeted content, so do not break these into ten different target groups if you do not have the bandwidth to create ten different content tracks. We want to do everything we can to broaden our reach while staying highly targeted and focused in order to remain relevant. Taking the extra time to think through these audience segmentation lists and properly grouping them can save you an immense amount of time on the back-end.

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(Webinar) 5 New Business Resolutions Every Agency Needs to Make & Keep

At the beginning of every year we all make resolutions to change something about ourselves either personally or professionally. If you’re an agency, you’re likely vowing to be more proactive with your new business resolutions and strategy in 2017. Don’t worry, about 85% of all agencies are in the exact same boat.

For any resolution to be successful however, there must be a plan in place and accountability against it. Throughout our discussion we will cover the following problem areas and also share KPI’s to ensure you’re tracking your progress.

  • Dedicate more time to solely focus on new business
  • Make a more compelling first impression via email
  • Leave a phone message someone might actually respond to
  • Build a social referral machine
  • Write better content for our website

5 Resolutions Agencies Need to Make (and Keep) in 2017! from Catapult New Business on Vimeo.

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3 Ways to Kickstart Your New Business Process

The most effective new business processes turn prospects into leads by educating those prospects on how your products and services can solve their specific problems.

But when creating a proactive new business program, many teams struggle to know where to begin. We always point to these three areas to start your plan of attack: Audience, Content and Execution.

Audience

The first and most important step you should take when deciding how to begin your proactive outreach to prospects is to determine who your audience is. You need to know who your target audience is so you ask the right questions – who, why and what – to help narrow who you are marketing to. You must clearly define who your “right to win” clients are. If your team is perfectly positioned to provide the best service possible to a prospect in your niche, that’s a right to win client, and they should be working with you.

After you create your right to win list, you can begin including additional targets you see as great fits, which are a slight reach from your perfect right to win group. Agencies will often limit themselves by “fishing in too small of a pond,” or creating lists of prospects that exclude too many winnable clients. Create a realistic and appropriately sized group of contacts to attack with your approach. A great way to start thinking about Audience is to ask the following questions:

  • In what areas is the agency most profitable?
  • Who are you talking to now?
  • What kind of business do you walk away from?
  • What brands should be clients?
  • What areas are most interesting to the team? What is the team passionate about?

By asking these questions, you’ll be able to determine who your audience is in a very specific, lead-driven way.

Content

Content drives just about every aspect of what we do in our lives—professionally and personally. In new business, you need to provide content that your new, specifically targeted audience wants to consume and share online. When getting started with your content strategy, start slow and don’t overextend yourself.

We’ve found that when teams commit to too much, too soon, one of two things happens: a) they burn out quickly on the process and it becomes a chore creating unique, branded content or; b) they begin building too much around a single whitepaper/eBook. Long-form content can be beneficial to your content strategy, but be careful not to let it consume hours of labor or hinder your ability to pivot across multiple audience groups.

When deciding what content should live on your editorial calendar, ask yourself questions like:

  • Why does your agency exist? (less about what and how)
  • What’s the one thing you do better than anyone else?
  • What are the benefits of working with your agency?
  • What type of work is outside of your scope? (this will help you drive more qualified conversations)
  • What business problems do you solve for the identified prospect categories?

Content plays a key role in advancing your new business strategy, and increasing your prospects both within your targeted audience and outside of it.

Execution

We all dream big about winning new business, but you can’t approach that dream in an ad hoc manner. You need to have a plan set in place that is consistently repeatable, with very defined goals, measurements and activities. Your plan should involve everyone in the new business process—from Sales and Marketing to Management. At Catapult New Business, our goal is to always set a process in place that can be seamlessly transferred when changes to the team take place. During the execution phase, these are important questions you should ask:

  • Who from the in-house team will be fulfilling each role in the sales/marketing process?
  • What technologies do we currently have in place?
  • How do we want to approach new prospects?
  • How have we approached prospects in the past? What has worked best?
  • Who has typically been the most receptive to our messaging?

A critical part of execution is how you leverage the content you’ve created, and the process your sales and marketing team uses that content to drive 1-1 sales conversations. By using your content to engage more often with prospects, you’ll see more opportunities to win clients.

Need help identifying a strategic plan of attack for winning new business? Contact us to learn more about how Catapult New Business implements successful new business processes for agencies.

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New Year – New Investments for Agency Growth

“2017 is the year my agency is going to stop relying on business to find us, and the year we start proactively finding new clients.”  We are only two weeks into this year and already I have heard this statement from over two dozen agency principles who are absolutely convinced this year they will finally turn that proactive corner in their agency growth. In order to make that turn, those agencies have to make investments into its processes and the people in charge of it.

Here’s a quick list of investments that, if made this year, can actually make a difference in your 2017 new business plans:

Invest in People

Finally, after all of these years, somebody will have an exclusive focus on new business development! This means you are either going to hire someone in-house to manage new business full time, dedicate an existing employee to this full time, or outsource to a new biz partner. By not selecting one of these three options you could quickly find yourself accumulating wasted resources, meaning the opportunity cost of having employees work on new business while juggling other responsibilities. Investing in the focus of a full time employee to run this important task for you can save money in the long run, and more importantly produce a better ROI.

Invest in Data

You want to find new prospects? Well then you better have a resource to help you find exactly which companies are the best fit for your team, who their main points of contacts are, and what their most recent marketing activities are. There are plenty of data resources that exist (I am partial to Winmo), but without a resource the amount of time wasted in the “research” phase of prospecting can easily drain the enthusiasm of any new business director. Being more efficient in our prospecting efforts with quality data can be the difference in talking to 5 prospects a day and talking to 20 qualified prospects a day.

Invest in Content

One of my favorite quotes from Inbound this year was from Brian Halligan in which he said, “In 2006 your website augmented your salesperson, but in 2016 your salesperson augments your website”. While your New Business Director is vital to creating and cultivating a relationship, your website and the content you put out into the world is vital to establish credibility for your New Business Director. Too often we see New Business Directors left on an island unto themselves, where they are told to produce new business, but have no resources to show the value the agency can bring to the brand. Take the time, whether through a content person in-house, or outsourced, to create multiple quality content pieces that are easily sharable for your new business team.

Invest in Technology

Yellow note pads are not a CRM. I’ve walked into multiple agencies over the last month, sat down with the principal and seen a yellow note pad on their desk that is “tracking” all of their open opportunities for new business. Occasionally, I see someone tracking sales opportunities on an excel spreadsheet, but even then, there is no real automation or process around ensuring new business is handled in consistent way no matter who begins the sales process. At this point, a CRM and Marketing Automation tool should be mandatory for any agency, no matter how small. Salesforce is the most robust CRM out there, with plenty of connections to Marketing Automation tools like Hubspot and Pardot. My personal favorite for any agency just beginning their outbound efforts and starting from scratch is SharpSpring, which includes both a CRM and Marketing Automation tool.

Invest in Networks

Let’s face it, you can do everything alone, but why would you want to? If you are an independent agency, there are tons of independent agency networks out there that can be a real benefit to your team in the form of sharing ideas, successes, and failures. The ability to learn from others can make beginning any new business effort that much easier in the upcoming year. Aside from your typical agency networks, there are plenty of executive networking groups where you can share experiences with people in similar positions across industries. Vistage is fantastic group executives that provides its members a structured environment to learn and grow in small groups.

Invest in Time

The most valuable of all resources. Where you spend your time is where your priority lies. If you are going to change your new business outcome for the better in 2017, then you better be committed to putting time aside every single day to the process. Non-negotiable. You can buy all of the technology above, but if you do not consistently set time aside to properly utilize all of these, nothing changes. The easiest way to put that time aside – put an event on your calendar immediately, make it recurring, and do not allow it to be moved because of another priority. This is the priority, and it needs to happen if anything is to change in the New Year.

Growing an agency is not cheap. There are investments that absolutely have to be made, but if done thoughtfully and with an eye on creating repeatable, scalable processes, the returns will more than make up for the cost of building the processes. If 2017 is your year to change, then make the investment in yourself, and the returns will come.

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Outsourcing Agency Business Development: Why You Need to Consider It Now

The road to agency new business Nirvana is paved with never-ending training, consulting, workshops and self-help guides. Undoubtedly, growth through a systematic business development program often eludes agencies, but there’s no reason for agency business development professionals to go at it alone.

The reality is, like anything worth doing well, its hard. Really hard. New business is work that the vast majority of those within the professional marketing services industry didn’t sign-up for, and have no inclination to be held accountable for now, or in the future. I see it and hear about it from out of work agency new business people and frustrated agency owners every day.

The good news? It is possible for your agency to have an effective new business process in the year ahead. While it can be difficult to know what your competition is doing to be so successful, we have found that the invisible trend has increasingly been to outsource your new business.

Over the past five years, for more agencies than you’d guess, the answer to solving the business development equation has come from partnering with an outside firm for proactive prospecting. More recently, the trend has evolved to include organic client development too, once the exclusive domain of the agency account and leadership team.

Why are more agencies increasingly handing the reigns of client growth over to a third-party? It’s a daunting thought for some, but for those who’ve experimented with this model, success has come quickly. “I’ve seen agencies win more business from our involvement in their organic client development efforts this year than any other,” said Dave Currie, President of List Partners Inc. “Its often the low hanging fruit that everyone can see, though rarely is there a systematic and accountable plan to harvest it,” he continued.

What value do agencies find in outsourcing?

 

A Systematic Approach.

Agencies often find that creating a new business process from scratch is difficult. It’s usually thrown together last minute at the onset of a lost account and the strategy and tools are often lacking. Outsourcing to new business professionals, like Catapult, allow agencies to implement a systematic approach to how they win new business. Teams are able to move swiftly into market because there is a proven model of success, and the tools to back it up.

Accountability

We come across agencies every day that have multiple people working on new business, but not dedicated to it with 100% of their time. Once you have this “we all chip in approach,” when it fails, who is accountable? All? Nobody? With this outsourced model, it is very clear who is accountable for success and we can put clear objectives and goals at each stage of the process. This leads to greater transparency and understanding to who the responsibility of driving new business lies with.

A Specific Focus on New Business

Similar to our Accountability point, according to Hubspot’s Agency’s Pricing & Financial Report, 66% of agencies do not employ a full-time new business person. What does this mean? Those in-house people that are working on new business do not know where to spend their time every day. If I have learned anything during my time as a new business professional, it’s that you cannot minimize the importance of focus. Focus ensures greater success by keeping all efforts dedicated to prospecting and driving conversations with those most sought after prospects.The invisible trend of outsourcing may always remain slightly hidden due to the nature of the business, but we are seeing more inquiries than ever from agency execs that are seeing the benefits of having a systematic approach that provides accountability and focus. I’m confident we will continue to see an increase in adoption of outside resources to manage new business in 2017.

When you can win more business at a lower cost, why would you not outsource?

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For Best Results, Make Email Part of Your New Business Strategy

We’ve seen more than a few agencies who aren’t seeing the results they were looking for with their current new business strategy. Many new business teams are stuck with an old mindset that proactive email marketing is just spam and not worth their time. When done right, email marketing can be a terrific way to maximize your ROI of time and money for new business growth.

So why is email such an important piece of your new business strategy? Email as an outreach approach has fewer barriers to implementation and is a relatively inexpensive process to begin. It’s also a great way to deliver the tangible results you’re looking for, because you can track everything and easily attribute leads to different campaigns. There is no mystery where leads come from.

The biggest obstacle to adopting a marketing automation strategy is “not having a strategy at all,” according to Marketing Automation Trends Survey.

Email marketing—specifically email automation campaigns—offers an inexpensive approach that will not only drive growth, but build your agency a sustainable prospect database from which you can always mine new opportunities. It’s the most effective way to grow your business, relative to the amount of money you spend. In fact, your ROI should skyrocket by implementing an email automation campaign. Consider these statistics:

  • B2B marketers see an average 20% increase in sales opportunities from nurtured leads compared to non-nurtured leads after deploying a lead nurturing program.
  • B2B marketers who install marketing automation increase their sales to pipeline contribution by 10%.
  • 54% of companies using marketing automation capture intelligence for the sales team. This compares to only 25% of companies without marketing automation.

It all boils down to one simple fact: Agencies that adopt an email marketing and marketing automation strategy outperform those companies that do not.

Resist the stories about emails and email marketing. Not all email is spam you need to filter. If used properly, email can be your least expensive means to grow organically and gain new business.

Agencies that focus on nurtured lead programs with great content via email, will find themselves starting any new relationship with a client at a much warmer spot. Rather than viewing each other as “seller vs buyer,” good email nurture programs allows for a “teacher and student” relationship. We trust our teachers while we don’t necessarily trust someone selling something.

Our most successful agencies keep this in mind. They build a marketing automation program, implement a CRM and combine it all with a business intelligence platform such as Winmo. As you build out your new business strategy, don’t discount email’s importance, just because it’s a discounted rate to get it started.

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Using Social to Amplify Your New Business Outreach

In today’s marketplace, social media should be an integral part of growing your agency. Of course that’s not news to you, but in order to be successful with it you need to practice patience and stay consistent.

We’ve spoken to many agencies about how they’ve used social to push their new business efforts forward and have learned a few things along the way. When it comes to social, some platforms work much better than others, LinkedIn and Twitter being the main two that businesses use. Here are a few strategies about platforms we believe give you the most bang for your buck in your push to grow new business.

LinkedIn Referrals

AgencySquared recommends that agencies craft a LinkedIn referral engine. This process entails consistent outreach and the suspension of reluctance when it comes to leveraging LinkedIn connections. Even if you may not know them personally. We like to call them “unknowns.” Who do we mean by unknowns? If you have 1,000 connections, the number of real connections—connections that you personally know—are probably less than 20 percent of that number.But all those other connections hold tremendous value. Yes, those 80% of unknown connections can drive serious new business your way.

Don’t be shy in asking for referrals from those connections, just do all of the work for them. Here’s what I mean:

  • Ask specifically for the person you would like to be introduced to
  • Craft the intro/referral message for your contact to send
  • Ask for a specific date of referral
  • Have something timely to offer so that the date of referral is more important.

Most of those “unknown” connections that you have will have no problem forwarding your message along, because (for the most part) we’re all trying to grow our networks and increase our sphere of influence. I always try to be of help to others when/if I can, and I find most people fit into this category as well.

This referral process will help you not only learn more about your network, it will also increase your potential prospect list. More prospects, more leads, more sales.

Twitter Business Opportunities  

Twitter is another great way to grow business opportunities. While LinkedIn is about connections, Twitter is all about conversations. It’s a perfect vehicle for quick conversations you can engage in and strike up during any event. Be sure to follow people in your space (who doesn’t love being followed?) as these will be quality users whose interests align with yours.

You can search for people who tweeted about a topic of interest and follow them. I highly suggest that you do this; any conference that is of interest to you–whether you’re at the conference or not– find out the conference hashtag, and begin following every user that uses it. Most times you’ll get a follow back, and I can’t tell you how many meetings I’ve had at conferences from following someone and then them finding me in the crowd later. “Hey aren’t you the guy that just followed me?!” Boom – conversation started.

Your goal should always be looking to develop a targeted audience. A larger number of random followers may give you social media cred, but it does nothing for your new business goal. A Twitter following with a small core of highly targeted follows is twice as valuable as a large audience of random followers.

Participating in Twitter chats related to your industry is another way to prospect. Joining an ongoing conversation is a great way to develop a rapport with like-minded individuals and it is much easier to join a twitter conversation that is currently happening than jumping in mid conversation in person.

Timelines in both LinkedIn and Twitter are changing every minute, so be sure to set time aside to review new developments. I personally block off specific time on my calendar every day for Social Media prospecting. This forces me to send out at least one referral request each day and find a new twitter conversation to take part in.

Leveraging the power of social media for your business marketing can take time and energy, but in the end your efforts will be rewarded if you stay consistent. Not every platform makes sense for everyone, so do your homework, experiment, and don’t be afraid to leverage those “unknowns!”

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