Transcript Why & How to Use LinkedIn

LinkedIn
Client Development 101
Why & How to
Use LinkedIn
to build and maintain
a strong client
network
Presentation Considerations
• This presentation, less the Word docs, is
available on my web site, so take notes or not
accordingly. www.StevenRFreedman.com
• While I’m open to Q&As during the presentation,
there’s a lot to cover. Your choice.
• We’ll combine PowerPoint, Word, with an
Internet web site tour & some selected searches.
• We’ll cover both why there’s value in pursuing
this effort & some nuts & bolts on how to do it.
• Are we ready to roll?
NYTimes To Customize Headlines For LinkedIn Users
by Michael Arrington on July 21, 2008
Adults and Social Network
Websites
1/14/2009 | Memo |
Amanda Lenhart
The share of adult internet
users who have a profile
on an online social network
site has more than
quadrupled in the past
four years -- from 8% in
2005 to 35% now,
according to the Pew
Internet & American Life
Project's December 2008
tracking survey.
“How I Made Over 10,000 Connections and Tripled My Business in 4
Months: The Social Networking Phenomenon”
Dear Friends,
Hi, this is Salesperson 23, your first degree connection. I am considered to
be one of the biggest success stories on LinkedIn. Within a very short
period of 4 months I have amassed over 10,000 connections on LinkedIn and
have tripled my business. This has led to many other opportunities
including joint venture offers, consulting offers, TV and radio appearances,
and offers just keep rolling in by the day. Four months ago I was a
struggling Real Estate Broker having problems finding the next deal in one
of the toughest Real Estate Markets in history. Today, four months later, my
Real Estate business is on turbo charge to the point where I can’t hire
enough Real Estate agents fast enough! We are currently selling entire
buildings at a time all thanks to powerful techniques that I have developed
which I will share with you.
The Web 2.0 way to connect to
those who need your services
• There are over 80 million people on
Facebook and over 30 million on LinkedIn
• This is a searchable database
• You can develop a network where you are
recognized as a respected source of
information
• You can develop a network that utilizes the
exponential growth of multi-level marketing
Wikipedia Traffic by Age: Four weeks ending
8/26/06
Social 2.0: MySpace Dominates as Geocities Crumble
Pew Research Center Publications
The Geocities vs. MySpace comparison not only
demonstrates the commonalities between the internet of
1996 and 2006, but it also provides a point of departure for
understanding concepts of online presence in the Web 2.0
era. While the Geocities model relied on the metaphors of a
place (cities, neighborhoods, homepages), MySpace
anchors presence through metaphors of a person (profiles,
blogs, links to videos, etc.). Geocities encouraged us to
create our own cities and neighborhoods as points of entry
to our personal worlds; MySpace cuts to the chase and
enables direct access to the person, as well as access to
his or her social world. And whether we call the current
world 2.0 or 10.0, there's no question that the internet of
today will look positively beta to future generations.
Pew Research Center Publications
Four major use cases for LinkedIn
Let’s look at the four major use cases
for LinkedIn and use that to assess how
well their direction fits the market
needs:
LinkedIn's Young & Rich Demographic - Does
Today's Announcement Do Enough For Them?
Written by Bernard Lunn / December 10, 2007 11:03
AM
Use Case # 1. Be found. If you want a better job or you
want clients for your consulting business, updating your
LinkedIn profile is one of the better uses of your time
online. Yes your online presence is scattered across
multiple sites, but for the business user LinkedIn is
probably the number one site you have to pay attention to.
You can also link from there to your site and Blog if you
have one, so this works for early adopters as well as late
adopters whose only presence is LinkedIn. There is one
subtle benefit compared to job boards, which also plays to
the next use case, which is that you don’t have to declare
that you are looking for a job. You just say “Hi, this is me”.
This strengthens your negotiating position with a new
employer and does not upset your current employer.
Use Case # 2. Recruit. LinkedIn is used by recruiting
firms but also by internal hiring managers. The one big
benefit of LinkedIn vs job boards is that you can use
LinkedIn to search for the candidate that is not actively
looking. This is critical in a tight job market (which we have
today). This kind of database is a key reason we have used
external recruiters in the past. I asked if LinkedIn was a
threat to recruiters and got the usual answer about “the
ones who use LinkedIn to add value are doing great” which means it is a threat to their current way of working. I
imagine LinkedIn is a significant threat to traditional job
boards.
Use Case # 3. Selling through contacts to avoid
cold calls. My experience, amplified by speaking to a
few other people who have used LinkedIn for this
purpose, is that it is highly valuable up to Level 2 but no
further. It is very useful to me to search for a particular
company that I want to sell to, refine that by job title, and
then see which of my contacts knows somebody there. Or
I can search for a specific person as in “who do I know
who knows Joe Bloggs”? This is the use case that got me
interested in LinkedIn and I wrote more about the
experience here. The point is it is useful only up to that
level of separation. If I see Level 3, it is usually not worth
the bother. That is when I am asking “who do I know who
knows somebody who knows Joe Bloggs.” So this use
case is limited to people with already strong networks that
work across multiple domains.
Use Case # 4. Finding an expert “just in time”. This is a
potentially big use case that LinkedIn is exploring, but it does not
seem big today. There are many specialists doing this. For
example, Gerson Lehman Group does this primarily for investors
(Hedge Funds, Private Equity, Venture Capital) looking to find an
expert in a market or technology; Gerson Lehman acts as a form
of broker and the expert gets paid per hour. There are also
examples in specific niches. This use case seems small today
but it has big potential and it also impacts the other use cases as
follows:
a) if I am looking for a job but don’t want to advertise that fact, I
will be motivated to answer questions that show off my expertise
and get me noticed.
b) ditto if I am a consultant or working in a consulting business
c) ditto if I am selling something where I want to engage in a
conversation first that shows I know what I am talking about
What is Social Networking
• While the term can mean any interpersonal interaction, it
has come to mean the use of the Internet to connect with
people, anywhere, at any time. There are sites that
emphasize the “social,” & those like LinkedIn that
emphasize “business relationships.”
• Several sites, like LinkedIn, have incorporated a twist on
what used to be called “multi-level” marketing, originally
designed to sell products & earn monetary percentages
of those within your “down chain” network who made
sales. In the social networking context, you are able to
reach the contacts that your first level contacts make, as
well the next level of contacts, 2 generations away from
you. This compounding of numbers can generate a
large network of contacts that you can communicate with
on any subject.
Networking Quotes
• One reason (among many) that women may well
take over the world of "virtual enterprises" is that
they seem to have a greater instinct for networking.
And the unfettered-by-machismo males who have
taken to networking will do better than those who
shun it as "sissy stuff." But truth is, it has always
been the age of "networkers"; and in an era where
organizations depend more and more on tenuously
connected outsiders to get the job done, it will only
become so. -Tom Peters
Networking Quotes
• “Networking is an essential part of
building wealth” Armstrong Williams
• “The currency of real networking is not
greed but generosity” Keith Ferrazzi
• “The successful networkers I know, the
ones receiving tons of referrals &
feeling truly happy about themselves,
continually put the other person’s
needs ahead of their own.” Bob Burg
book: Keith Ferrazzi – Never Eat Alone
LinkedIn Collaboration
• LinkedIn has a partnership with
BusinessWeek.com that includes a tool
that lets users find LinkedIn connections at
companies mentioned in BusinessWeek
articles.
Let’s Take a Quick Tour
What LinkedIn is not
• It is not another version of Facebook or Myspace
– Without care these sites can do your client search
harm (non-professional behavior indicators – reasons
to consider you less than professional) (think sexy or
wild party photos)
– Google yourself. If you find something that is
unflattering to your career do whatever you can to
remove it from the web.
• It is not a waste of time
• It is not frivolous
Why use LinkedIn?
• Like lead lists, references, and cold calls,
it’s one more approach to finding new
clients. In this economic period, we need
to pursue every method.
• It enables you to stay in touch with those
you network with in the physical world.
– It helps cement the relationship
Profile of LinkedIn users
• Anderson Analytics study – 2008
– Nearly 60% of users have incomes of $93K or
more.
– People with lots of connections tend to make
more money, according to the study - those
with incomes between $200-$350k were
seven times more likely to have at least 150
connections than lower income users.
(I’m not validating these numbers or assumptions, just sharing them.)
How do you begin LinkedIn?
• Sign on at LinkedIn.com, provide your e-mail address & a
password.
• Create your profile
– Customize to market yourself & present those skills you
want to highlight
– Customize to show the fuller you by connecting to groups
that help a paint a picture of you that you choose
– Customize by establishing links to your own site, notable
items about you on the net, etc.
– Change the last portion of your LinkedIn profile from the
assigned alphanumeric sequence to your name, with a
numeric after it, if necessary, to make it more
professional in appearance.
E.g. http://www.LinkedIn.com/in/SteveFreedman007
Use of a photo in your profile
• If you use one, make sure it’s a professional one, not a party
shot. Using a graphic instead accomplishes little.
• Pros
– It will definitely help the viewer remember you from
networking events or previous LinkedIn mail transmissions.
It’s the equivalent or a real world, tangible (warm & fuzzy)
connection. We help remember each other by our faces.
• Cons
– Our society is full of biases, sometimes recognized,
sometimes beneath the surface. They can include race, age,
sex, weight, and even attractiveness.
• Ultimately this is a very personal decision you have to make. On
age, you can leave off some old jobs and the year you
graduated college, but other biases are less easy to work
around. Think the issue through and do what feels right for you.
You don’t have to use a photo, but it does adds a layer of depth.
Utilize your LinkedIn profile link
• By clicking on your LinkedIn profile link
anyone can be brought to a slightly
abbreviated version of your LinkedIn
profile, & subsequently click on your full
profile, if they choose.
– Put it on your business card
– Use it on your resume & cover letters
– Use it in your e-mail signature block
Using LinkedIn groups
(Pick your strategy)
• Strategy A – Join groups with a large number of
members
– This will boost your network quickly.
• Strategy B – Join groups that reflect your
different interests
– Presents you as a complete person.
• Strategy C – Join groups that reflect what you
would like viewers to see to mold their
perception of you.
– Presents you as you would like others to see you.
• Be aware of the new LinkedIn limit of 50 groups.
Using LinkedIn groups
(cont)
• Discussion groups
– Post & answer questions
– Develop recognition among your peers
– Utilize the multitude of opinions available from
around the world to help gain a macro
perspective to local issues.
How can you improve your visibility
on LinkedIn?
• In the “Question” area find your area of
expertise, look for questions that you’re
comfortable with, and answer them with as much
care and generosity of your time as you can.
• Get previous supervisors, peers, &/or
subordinates to “recommend you.” This is
definitely needed to build your profile to 100%.
• The former helps label you an “expert” and the
latter helps substantiate what you say about
yourself, giving third party reviewers more
comfort in accepting what you present.
Recognition as “Expert”
• To become an Expert on LinkedIn you
answer posed questions. If your answers
are deemed to be the best answers by the
person who posted the question, that
person designates you as an Expert.
Repeated occurrences leads LinkedIn to
designate you as an Expert.
What can you do on LinkedIn?
• Search for people who work in the company that
you have targeted and engage them in
conversation – company culture, intro for an
informational interview, leads on company
research to enhance your interview.
• Talk with people who left a company you’re
interested in and try to get the reason they left or
some insider information. Remember, everyone
has different values & hot buttons, what upsets
John may roll off Tom’s back.
What else can you do on LinkedIn?
• Reconnect with people you haven’t seen
in 20 years
• Engage your peers in subject matter
focused blogs
• Talk to people in other countries about
cultural differences & similarities
Quality versus Quantity discussion
• Quality – connect only with those you know &
trust
– Pros – Messages you send can be quality enhanced
by having your contacts praise you, along with your
message, it adds power and interest to your
message.
– Cons – It’s slow to develop your network in this
manner.
• Quantity – connect with as many people as you
can
– Pros – Develop your network quickly
– Cons – You have to rely on strangers to pass your
messages along, …. or do you?
• (paid account upgrade alternative)
What is a “LION”
• One acronym, two translations, same meaning
– Leading International Open Networkers
– LinkedIn Open Networkers
• The meaning is clear:
– Individuals who self identify themselves, usually
in their own LinkedIn name “title,” do so to convey
the fact that are willing and eager to accept
invitations. They may still self-police the
incoming requests, but in general their purpose is
to build their network quickly, accepting most
invitations. They want to network aggressively.
A Blended Approach
• Like good scotch, a blend of the quality and
quantity approach can help you achieve the
positive aspects of both approaches.
– Pro – You build a large network in a fraction of the
time
– Con – You have to “rely on the kindness of strangers”
• You’ll find that 70% of members want to help each
other, either for karma or graciousness
• If your network is large enough, you can attempt
contact with many people in one company,
increasing chances that one will respond to your
request, even if they don’t know you or your
contacts.
Adding connections
• There is a degree of peril when inviting connections that
you do not know personally.
• On the receiving end of a LinkedIn invitation the recipient
can choose any of the following:
– Accept invitation
– Archive
– I don’t know (your name)
• If your invitations receive too many “I don’t know (your
name)” responses, LinkedIn may cut off your ability to
acquire new connections. Accordingly, always include
some language in your invitation similar to “… if you are
not interested in connecting with me, please click the
archive button, otherwise I will be penalized and not be
able to connect with great people like you.”
Invites, what they don’t tell you
• LinkedIn limits the number of invitations that you
can send to 3,000. Beyond that it prevents you
from sending invites.
• HOWEVER, there is no limit on how many
invites you can accept. There are people on the
site who claim to have over 20,000 first level
connections. Tactically seeking out who you
would like to connect with, either by your
invitation, or by asking them to send you an
invitation, takes some thought and finesse.
LinkedIn has just set a limit of 30,000 first level
contacts.
OK. Profile built, network building,
questions answered, recommendations
sought, you finally get to 100% profile build
position.
• Reality check:
– The profile can be built in a day
– Being really aggressive you can build a big network in
about 6 to 8 weeks
– Getting old contacts to recommend you can be slow
– Maintaining your network can take as much time as
growing it, if you choose to. There’s a train of thought
that you need to maintain your network continually,
because you never know what life event may change
your circumstances.
Every day LinkedIn activity
• Get Linked with everyone in all of the
organizations to which you belong. Ask
your phone book contacts to join you.
• If one of your organizations has a “group”
on LinkedIn, connect to it and participate
in the discussion area.
Every day LinkedIn activity (cont)
• At EVERY networking event, at the end of your discussion
with a new connection, ask them if they are on LinkedIn &
would they like to connect. If they do:
– Send them a LinkedIn invite & ALWAYS customize it,
referencing where you met them and any details of your
conversation to help them remember you.
– To cement the relationship further, after they accept,
send them a thank you note. In the note, ask them if they
know anyone, in or out of LinkedIn, who might be able to
help you in your client search. The business pitch should
be soft pedaled and the giving aspect of networking
emphasized. It’s referred to as the law of reciprocity
(a.k.a. the Giver’s Gain Principle). Give first, receive
second.
Periodic LinkedIn Activity
• Send low threat or warm correspondence
to your first level on a regular basis to stay
in touch or make them aware of something
new. Giving tends to get more respect &
attention than asking.
• Send “Thank You” scripts to those who
accept your invitations or those who invite
you
• Send “Occasion” correspondence to keep
in touch
Avoid Spam
•
•
•
•
•
•
•
Thank you for the invitation
Thank you very much for your LinkedIn invitation to connect
Steven R. Freedman,
Thank you very much for your LinkedIn invitation to connect. I hope we can both
realize benefits from our connection.
My company Info XX xxxx XXX creates Mobile and Web business solutions. With
Mobile usage exploding, we offer businesses the capability to get the exact reports
and data they need at their fingers tips from anywhere in the world to increase
revenue and decrease expenses. We offer Consultants the opportunity to expand
their services by offering mobile and web business solutions that very few
competitors can offer.
•
•
•
•
IOTW can create the difficult custom applications businesses need but few can
create.
Our solutions include:
·
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·
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MBA and IT knowledge puts the exact financial data needed on iPhone and other
PDAs.
Additional information at www.XXXxxxXXX.com, click on “5 Minute Tour”.
Business Intelligence on LinkedIn
• Premise: either because you have an interview
or you want to prepare for your encounter with a
prospect in a particular company
– Go to Search “People”
• Type in “company name” or “company name + geographic
location”
– Go to “Companies”
• Search industries
• Get company specific information & information concerning
your contacts who have left or joined the company
Business Intelligence on LinkedIn
(cont)
• When you’ve found one or more person who work(s)
or worked for the company that you’ve targeting,
send them LinkedIn mail, either through your
connections, or directly, if you’ve paid to upgrade
your membership.
• As politely as you can, ask about their company
culture, the style of management, the
formality/informality of the organization, or any other
piece of information not available through internet
research. How does the decision making process
work in this company? The more research you have
on your target company the better your ultimate
interview is likely to go.
LinkedIn as part of your self
promotion strategy
• The client hunt has become more difficult
in this economy. Your mindset has to
adjust.
– Networking must be done all the time.
– If you develop a web site, use LinkedIn to
help drive professionals to it, and promote it.
– Remember the “Pay it Forward” mentality.
LinkedIn as part of your self
promotion strategy (cont)
• Use the new LinkedIn side applications
– Amazon book list – helps add a color
commentary of your different interests,
presenting a more well rounded you.
– Google Presentation – post some of your
white paper/Power Point work
– Miscellaneous Apps for sharing and
monitoring data
Time Management
• LinkedIn is a wonderful tool. This presentation focuses
on its use in a career search. It’s also useful for
establishing warmer cold calls. It’s great for gathering
business intelligence. It’s great to stay connected with
people as you move from job to job, or from state to
state, because people want to maintain their connections
& network.
• However, in the case of client search, it is only one tool.
LinkedIn & on-line social networking should take no
more than 20% of your work week. The rest should be
spent on networking events in the physical world. A
blended strategy is the most successful approach.
• Consider doing most of your LinkedIn work after normal
working hours, so it doesn’t interfere with live
opportunities.
Consider establishing a LinkedIn
Company page
Your competition already has
Good Luck!
Remember that once found, new
clients need to be nurtured.
Feel free to download this presentation from the
“white paper” section of my website:
www.StevenRFreedman.com
727-360-7049
Get Connected, Stay Connected
Any Questions?