High Tech Requires High Touch

Social Media has certainly risen to the top of the list of hot business topics in the last decade, and is at the forefront of our business consciousness as we move into the next decade. But, does high tech Social Media really deliver the same results as a warm handshake and face-to-face discussion with your contacts? In terms of developing real business, real relationships and real referrals, has Social Media replaced face-to-face networking?

When it comes to networking and referrals, no one knows more than Victoria Trafton of the Referral Institute, who recommends using a clearly thought out strategy for social media. "Social Media is a complicated landscape and at times requires an expert to help set up a good strategy to plan and map interactions." Trafton is an expert in using face-to-face networking to generate business by referrals, and feels that the increase in social media hasn't replaced "in person" networking, but has instead created a need for increased personal interactions with business contacts. Trafton explains, "Face-to-face networking has great value in that it delivers authenticity, trust and value. Networking in person creates in-depth, meaningful relationships, allowing people to connect in a way that Social Media does not. Technology can often be isolating. That is why I believe high tech is driving the need for high touch through face-to-face networking."

Trafton advocates the Referral Institute's formula of segmenting your face-to face and online networking efforts into three areas: Visibility (V), Credibility (C) and Profitability (P). The Referral Institute offers workshops based on the VCP Process® to help participants create a workable plan for networking. Clearly, Profitability is the objective for all contacts, and consideration should be given to moving contacts from the Visibility provided by Social Media to Profitability resulting from personal contacts.

For example: An email newsletter or blog post can provide Visibility, while the content gives Credibility. Following up in person and personal messaging can bump that contact up to Profitability. Trafton advises that the most profitable contacts should be invited into your inner Social Media conversations, and those relationships should be enhanced with face-to-face networking. This sentiment was echoed by Lloyd Linsay, responding to the blog, "Business Networking Predictions for 2010" by BNI Founder Ivan Misner (http://networking.entrepreneur.com/2009/12/03/business-networking-predictions-for-2010/). Linsay commented, "Spending the bulk of your time on many relationships won't help you develop solid relationships that will generate referrals and dollars. On the other hand, BNI (Business Networking International) got it right. The personal relationships you develop meeting the same people week after week develops a solid bond of trust and credibility that these social networks cannot offer."

Building relationships through face-to-face networking can provide a solution to one of Social Media's potential problems. Trafton explains, "There are issues with Social Media if it doesn't create two-way communication. We need to bridge foster two-way communication, connecting with one another through more than just bits and pieces if we want to develop relationships through social media."

Trafton plans to start with a "short list" and learn how to maintain and nurture her network with the advantages of technology. "We all know conversations on Social Media have completely changed the face of marketing. Social Media has taken messaging down to the individual level and should be thought of that way when building a network - touch points that enhance face-to-face networking."

Establishing meaningful business relationships and generating referrals is clearly accomplished by blending face-to-face networking with the advantages Social Media provides, and sticking to crucial business principals, as Trafton reminds us. "When using Social Media, it is important to deliver authenticity, trust and value, just like face-to-face networking."

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LuCorp Marketing