How can you leverage your network to reach potential buyers? (2024)

Before you start reaching out to your network, you need to have a clear idea of who your ideal buyer is. What are their pain points, goals, challenges, and preferences? What value can you offer them and how can you solve their problems? How do they like to communicate and make decisions? By defining your ideal buyer persona, you can tailor your messages and offers to match their needs and interests, and avoid wasting time and resources on unqualified leads.

Your network is not a hom*ogeneous group of people; it consists of different types of contacts, such as friends, family, colleagues, customers, partners, suppliers, influencers, and so on. Each of these groups has a different level of trust, relationship, and influence with you and your potential buyers. Therefore, you should segment your network according to these factors and prioritize the ones most likely to buy from you or refer you to others. The ABCD method can be used to categorize your contacts; Advocates (A) love your products or services and are willing to promote them; Buyers (B) have bought from you or are ready to buy; Contacts (C) know you and your products or services but have not bought from you or referred anyone; Disinterested (D) have no interest in your products or services or are loyal to competitors. You should nurture Buyers and provide excellent service and support. You should educate Contacts and persuade them to buy from you or recommend you to others. Finally, you should avoid Disinterested contacts or minimize contact with them.

Once you have segmented your network, you need to communicate with them in a way that provides value and builds trust. You don't want to spam them with sales pitches or generic messages. You want to offer them relevant information, insights, tips, advice, invitations, incentives, or anything else that can help them achieve their goals or solve their problems. You also want to personalize your communication and use the channels and formats that they prefer. For example, you can use email, phone, text, social media, video, or face-to-face meetings to communicate with your network, depending on their preferences and availability.

Asking for referrals is one of the most effective ways to leverage your network to reach potential buyers. Referrals can boost your credibility, increase your conversion rates, and reduce your sales cycle; however, it's important to ask for referrals in a smart and respectful way. You should wait until you have delivered value, earned trust, and identified a specific need or opportunity before asking for referrals. Additionally, make sure to ask for referrals in a way that makes it easy and rewarding for your referrer. You can follow these steps when asking for referrals: remind them of the value you have provided and the results you have achieved; explain why you are asking for referrals and how it can benefit them and their contacts; ask if they know anyone who might be interested in your products or services; ask if they can introduce you to their contacts; thank them for their referrals; and offer them some incentives or recognition for their help.

The last step to leverage your network to reach potential buyers is to follow up and follow through with your contacts and referrals. You don't want to lose the momentum or the trust you have built with your network. You want to keep in touch with them and provide them with consistent value and support. You also want to follow through with your promises and expectations, and deliver on your products or services. By following up and following through, you can increase your retention, loyalty, and satisfaction rates, and generate more repeat and referral business.

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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