February 1st, 2012
I was at a networking event last year in Manhattan for the Marketing Executives Networking Group, when I started speaking with a former CMO from a mid-size company sitting next to me.
We started talking about different ways he was going about exploring new opportunities, when he mentioned his use of LinkedIn.
To my surprise, he mentioned his disappointment with it. He explained that he had over 200 people in his LinkedIn network to whom he had recently reached out, yet only one to two dozen or so had responded – a 10 percent response or less to people he knew with a simple request for help.
Then, I was even more surprised. I had just reached out to my whole LinkedIn network for the first time since it had gotten sizable (and first time in years). My network was about three times larger than the CMO’s, and received over 200 responses, for roughly a 35 to 40 percent response rate. The response I had gotten had blown me away, but I figured it must be typical for personal networks.
I reached out again another couple of times to more or less my whole network over the last year and got similarly impressive, if smaller response rates. The last time was in October.
There are a lot of factors that affect what percentage of your network would respond to a message you convey – all similar to email marketing generally. These include the message itself, its source, the frequency of messages received from the source and their relevance, the call to action, etc.
Perhaps the biggest though, is cultivation of your network. This starts with who you connect with in the first place; and includes how you keep in touch and add value for each member. I try to LinkIn only with people I’ve met or talked with on the phone – that represents over 95 percent of my LinkedIn network, with over half of those I’ve actually met in person. Then, over time, I provide general information to many, as well as specific information useful to one or a few individuals, along with truly personalized messages when appropriate and relevant.
When I do reach out with a request or call to action, I bake in mutual value with it – an exchange of ideas or other contacts, for example. Thoughtful blog pieces on leading sustainability portals has also helped with credibility and recognition. Recently, I’ve been able to make a number of connections for people in my network that have led to strong opportunities — for new business in one case and a full-time position in another. The grateful response from colleagues has been gratifying.
This approach has led to some new business for me over the years, a job offer I accepted, and dozens of new and high-quality executives, entrepreneurs, and other professionals joining my network. I’m sure this would work well for any organized networking – I have simply found LinkedIn to be the best tool for my purposes so far, even though there is still plenty of room for improvement.
I’m counting on my network coming through for me again as I prepare to reach out another time in the next several days.