Networking Tips that Build Lasting Friendships

The definition of networking I use is: Networking is a process by which you can create meaningful business contacts and relationships to further your career and enhance your professional life.
On a scale of 1-10, with 10 being the most difficult, networking is a 5. Building friendships is a 10.
I know that many of you have become better and better at this "networking thing." I thought I would share one of the deep dark secrets of effective networking - some of these folks become fast friends.
Just as much as no one really understands why you fall in love, it is a mystery in much the same way why after networking with someone over the years you suddenly realize that you have become good friends.
By making every effort to network appropriately, by which I mean with those with whom you have some background connection, you are bit by bit going to meet up with likeminded individuals. It is inevitable. Some of those folks will just "click" with you.
Now comes the hard part. (I know it sounded too easy to this point.) When you "click" with someone, you have to make an effort to perform acts of friendship. Networking, according to many seems to have some evil intent. Were it not for your need to earn a living, I suppose you would just stay in your shell and never talk to anyone. "Networking" is all well and good, but calling a succession of strangers when you need their help is not as valuable as having real friends. If you died, how many people would come to your funeral because they really wanted to?
We casually say, "he's a friend." But would she bring you food if you were housebound? Would she listen to you gladly if you had lost your job and wanted to talk? The "care and feeding of friends" can be exhausting at times, but it is always worth the effort long term.
We are a networking group, but this implies that many of the people we meet will become this kind of friend.
Among the many goals in your life, I hope this is one you will sign up for.
Note: I received this letter from the leader of another group I belong to called MENG. If you are interested in joining this group, check out www.mengonline.com
And let me know if you want an introduction for membership.

6 Keys to Sponsorship Success During The Recession

The following article was written in partnership with Tara D. Coomans, Akamai Marketing, and Brian Levine, Sponsorship Insights Group.

Economies are like gardens, the seeds you plant today will reap rewards in the future. With the right seeds, the right amount of light (your positive attitude) and some TLC (creativity) your garden can do more than survive, it can thrive.

Even in the current economic downturn, the wide variety of sponsorships and the trend toward better activations makes it a good industry in which to be. Although the current economic drought presents a challenging environment, with these six tools under your belt, you’ll be well on your way to creating a thriving sponsorship garden in 2009 and beyond:

The Seeds:

1) New Clients

Although it may not feel like it, now is a great time to attract new clients. Yes, marketers will be doing a lot of reevaluation on how/where they’re investing their budgets over the next 24 months. However, because properties have the potential to provide sponsors with significant value (i.e. the whole is greater than the sum of the individual parts) spending on ROI driven sponsorships could in fact increase. Savvy marketers will be more open to reviewing your proposals than ever before. Now is the best time to start building new relationships with potential clients as they are reevaluating their options and considering alternatives. The seeds you plant now may grow into stronger or more lucrative partnerships down the road.

For sponsors looking for opportunities to do more with less, smaller properties may offer the best potential . Smaller properties often have the flexibility to be more creative with their sponsors and will be very excited to work with you in creating a partnership that works for you. Your business will likely stand out more with a smaller property than with properties overcrowded with other sponsors.

2) Trade

It’s not enough to know you have something to offer, you need to know what and how much. If there was ever a time to know the value of your property, it is now. The next 24 months should see a spike in requests for “trade sponsorships” as firms try to minimize cash outflow. By knowing the value of your property and its segments you can ensure that you receive full value in any sponsorship agreement, which increases the possibility that you can negotiate a trade and cash component. It will also help to be proactive in developing a compensation plan for these types of programs now so that you are prepared for this growing trend. Note that contra benefits are often valued at between 50% and 75% of cash.

If you are a sponsor looking for trade opportunities, on the other hand, you should be prepared to negotiate trade/cash opportunities. But remember that unless you are offering something the property cannot live without (i.e. alleviating a budgeted line item), noncash sponsorships may be overlooked because properties still need cold hard cash to stage and market their event.

The TLC:

3) Your Homework

Before you approach a potential sponsor, make sure you know their business objectives and that your proposal provides solutions to those strategic objectives. You should be reading everything you can find about your client before you ever present them with a proposal, then customize it to fit their specific needs. Sponsors need to know that you ‘get it’, that you are offering them solutions instead of a generic sales pitch.

As sponsors in this business environment, you need to find out what unearthed gems may exist within every property. You don’t get what you don’t ask for, so do your homework first so you don’t miss out on valuable sponsorship opportunities.

4) Be Creative

Properties and sponsors alike, challenge yourselves to create excitement and energy around your product. How can you make the good, great? How can you do more with what you have? One reason event marketing works so well is because of the potential for creating memorable experiences. This recession may just provide a catalyst for great ideas as everyone starts to reevaluate and try different ways to weather the economic downturn. Come up with something ground breaking that will be poised for explosive growth once the economy begins to recover from the market correction.

The Sunshine:

5) Free Community Events

Events, such as nonprofit ‘walks’ or large art fairs, that are free to the public will be hot over the next 24 months. This is great news for sponsors and mobile marketers, as these types of events are often very open to creating additional energy and excitement through activation of a product. Sponsors, seriously consider community events that align with your needs. Although it may not be any less costly than traditional sponsorships, more people will be in attendance that are open to experiencing interesting new products out of curiosity.

Community event properties, you should capitalize on the fact that your attendance is likely to be strong and actively look for creative ways for your sponsors to engage and excite your attendees. If you have never courted mobile marketers before, this recession is the time to see if you’ve been missing an incredible opportunity.

6) Be the Partner

It’s always important to approach your relationships as partnerships, but it is more important than ever in these tough economic conditions. Property and sponsors alike look for people who are willing to brainstorm, willing to work with together, willing to help the relationship grow. If you are a sponsor that has treated your properties with respect and professionalism, they are much more likely to work harder with you to stretch your marketing dollar. As properties that go above and beyond to create solutions for sponsors, you will find more loyal sponsors that will work with you to find innovative ways to create more value together.

Although the market is undeniably difficult right now, with a little creativity and flexibility, you can still grow through the recession in new and exciting ways.

More Experiential Marketing

Traditional advertising is rapidly losing its effectiveness as consumers have learned to tune out the bombardment of ads in everyday life, so more and more firms are turning to experiential marketing tactics that are novel enough to catch the attention of the sophisticated consumer. A few such novel ideas are highlighted below and marketing executives across the country would do well to keep up with these trend leaders.

In an effort to recreate the sense of warmth associated with eating stuffing, Stove Top at Kraft Foods is arranging for heaters to be installed in bus shelters in the Chicago area. For a limited period of time samples of Stove Top stuffing will also be available at some of these shelters.

Jameson Whiskey is trying out a new advertising tactic: dynamic projection media. There will be projected screens in high traffic areas that will look like someone is typing messages to those walking by. It is very relevant to the target market, which is a generation dominated by the electronic communication the internet has enabled - email, instant messaging, Facebooking, etc.

Test Drive the Army

The US Army has recently developed an innovative recruitment program that uses a creative combination of features to engage potential recruits in experiential marketing. The Virtual Army Experience revolves around a training simulation computer game and immerses young recruits in Army technologies, operating environments, and missions. This unique engaging format should be very appealing to its target market. The business arena would do well to watch and learn from the Army's marketing tactics.

Read more about it at Youth Marketing Connection.

Click here to go to the official Virtual Army Experience website.