Tuning Your NetWorking Engine to Maximize Referrals Per Gallon

Last month, during the height of gasoline prices (well...hopefully the height anyhow, now that they’re retreating for the moment), I introduced a new measurement:  Referrals per Gallon (RPG) to determine NetWorking efficiency (as a recovering engineer I can’t help but think about this stuff from time to time – my apologies to all the right-brained NetWorkers out there).  This month I want to expand more upon the implications of RPG so you can tune your own NetWorking engine for optimum efficiency!

Review

To determine average RPG, we said that you need to know the following:

• Mileage to and from your NetWork event or meeting
• The average miles per gallon (MPG) of your vehicle
• The number of referrals received at the event or meeting (if you wish, you can substitute number of one-to-one meetings, new contacts, informational “a-ha’s”, job interviews or proposals instead).

Therefore, RPG is calculated as:

            Avg. RPG = # of referrals received / miles to event X avg. mpg

From the above formula, the implications are:

1. The higher the RPG the more favorable/profitable the NetWorking event
2. The more referrals (or meetings/contracts), the higher the RPG
3. The less miles one travels, the higher the RPG, and
4. The more efficient the transportation, the higher the RPG.

Since #1 is really a function of the other three, let’s talk about each one from #2 to #4...shall we?

Maximizing Referrals

This item itself is the subject of many well-written books.  No matter if you NetWork on another planet (I think we all know folks like these) or drive a Hummer with square wheels that runs on liquified diamond, the number and dollar value of referrals can all make it worthwhile!  For NetWorkers, getting more referrals means several things:

• Increasing your visibility
• Knowing your own business (if this is a weak spot for you, consider hiring a strategist or business coach)
• Knowing not only how to work a room, but making sure you’re in the right room
• Having an effective and consistent message
• Having a diversified NetWorking portfolio
• Giving referrals first (avoid the Vultures and Victims Scenario – see Vultures vs. Victims, Part I, Part II and Part III) before expecting referrals given
• Making it easy for others to refer you by perfecting our own strategy and systems for referral partners
• Measuring dollars received as well as dollars referred out.

What about the NetWork’s level of responsibility?  I typically hear the founders, directors, etc. of some of these organizations tell me that they provide the NetWorking environment, the rest is up to their members.  I, personally, find this to be ludicrous...could the same be said of bar owners?  Certainly they just can’t provide their patrons alcohol without certain regulatory checks and balances and “leave the rest up to them”.  Even the providers of the beverages must promote “drinking responsibly”.  Who is providing education?  Who promotes “referring responsibly”?  Who is facilitating, regulating and coaching those who have not yet mastered the above laundry list of items?  The most effective NetWorks maximize referrals amongst members by setting up these types of systems.

Minimizing Mileage

The more localized one’s business is, the easier it becomes to minimize your NetWorking mileage.  But what if your business is regional, national or global?  Is there a way to increase your visibility on such a scale while staying closer to home?  The answer is...yes!  Look at the rise in popularity of such online NetWorks like MySpace, LinkedIn, OpenBC and Ryze.  One can literally NetWork with the entire world with just a few clicks in the comfort of one’s own home.  Through such types of NetWorking I have received several radio interviews as well as a Technology Editor.  Speaking of Mike O’Neil, his September article (due out the week of the 17^th) for TNNW begins a series that expands further on minimizing mileage as he introduces our NetWorking audience to “Hotspotting”.

NetWork founders, presidents and directors:  consider your events.  From how far and wide would you like to draw attendees?  If you expect them to come from over an hour away, consider giving them a reduced entrance fee (especially if they RSVP in advance) as an acknowledgement of the challenging economic times, especially if you cannot guarantee results for your members;  it’s great PR and excellent customer service.  Most NetWorkers would love to see such an acknowledgement.

Maximizing Transportation Efficiency

OK...so aside from ditching the Hummer for a hybrid, what can you do?  Try this one on:  consider carpooling with other professionals with whom you would like to foster your relationships.  Think of the NetWorking potential!  If you NetWork in a larger metropolitan area, take public transportation (again...another NetWorking opportunity).  Even better...if you NetWork locally consider the health benefits of walking or riding your bike to an event.  Better yet...combine health with NetWorking and get some other progressive NetWorking professionals to join you in your walk or ride.  Cool stuff!

What can NetWorks do?  Here are some real life examples of how progressive NetWorks who are customer- (member) focused solve potential transportation nightmares (and liabilities).  First example:  each year World Golfs runs a well-attended fund-raising gala and offers limousine service (one of their sponsors) to and from the event.  This is useful especially if attendees have a bit too much to drink.  Second example:  for the past two years the Mercer Regional Chamber of Commerce has offered their attendees free shuttle service (provided by one of their members – a local limousine service) from the Sovereign Bank Arena, where there’s free parking to the Trenton Lafayette Yard Marriott for their popular Trenton Business Expo.  The benefits include better accessibility, patrons who use the hotel’s parking lot do not have to compete with the huge influx of attendees cars and attendees don’t have to pay for parking.  My hat’s off to both organizations.

I think that we as a nation face many challenges in regard to rising oil prices.  RPG is just one way for both NetWorkers and NetWorks alike to overcome such obstacles, be mindful of how we spend our NetWorking time and money and plan our NetWorking events.  NetWorkers must understand that they have the right to choose their own NetWorks.  RPG can help determine which are best for them.  NetWorks must understand that the most effective businesses are customer-focused and that their members are their customers.

Happy NetWorking!

Please contact Adam at Adam@TheNationalNetworker.com.

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