from AskMyDaddy - used in Lair

LinkedIn is Business for Business

You asked

I'm thinking of pulling the plug on all my online social/business networking activities. Other than making a few online "friends," I haven't really benefited from online networking. On the business side, I've only landed one relatively small contract on LinkedIn -- it grossed me US$1600. I earned another $20 on Gather.

Mostly, social/business networking sites have been another distraction, another way to waste time. That's been my experience anyway.

MyLinkDaddy writes

Online business networking is just a tool. You get out what you put in. If you treat it like a toy and just play with it, like personal social networks, then you're sure to be disappointed. If you expect it to provide returns like a business activity, then treat it like a BUSINESS. That means you must manage it.

The Business Yellow Pages

Is your company in the phone book? Do you have a web page? Do you give out business cards? Do you have a resume at monster.com? Don't you WANT to be found?

LinkedIn is by far the world's largest business social network. People run millions of searches a day. It is the one place people look to find candidates, partners, customers, and other business contacts. So it's the one place where you should have a business social network listing. This is not to say you WILL be found. But it's a key place people search. Can you afford NOT to have a profile on LinkedIn?

A LinkedIn account is free. Building your profile is easy and straightforward. There's no reason not to have a listing. So at a minimum do post your profile, even if it's just for passive networking. You never know when you may be found by a an old friend or coworker ... or someone actually wanting to do business with you.

Have realistic expectations

Networking is messy

Networking is different from sales and direct marketing. It is messy. Read more about the PayItForward process.

Networking isn't for everyone

LinkedIn is not a fit for everyone. See LinkedInWorks.

Start with with a strategy

If you're going to be serious about LinkedIn, then you need to treat it like any other business tool. First come up with a plan.

• Create appropriate objectives for the use of the tool. Each business is different in terms of how LinkedIn can be used to achieve your business goals. In some cases, like recruiting, LinkedIn is a strong fit as you can directly find and contact candidates to fill open positions. In others, like selling personal services, there isn't a direct benefit, but you can still use LinkedIn to build your network. See LinkedInWorks again.

• Audit your results. Periodically review your results and learn from them. Adjust your strategy to achieve better results with less effort.

• Develop achievable programs that can fulfill your business objective. For example, LinkedIn won't close a deal a for you. But it can be used to find highly targeted individuals who can be business partners, customers, or candidates for an open job. See below for programs.

Business programs

• Use branding and marketing to create an image, stand out from the crowd, and develop products that have value in a social network and serve as a magnet to elicit interest and bring business partners to you. Such products include research, white papers, communities, databases, and LinkedIn groups.

• Create your own community for your industry, product, or interest area. A LinkedIn group is just the nub to connect a real business community to your LinkedIn activities. Such communities can include commercial web site and mailing lists, a social network on a platform like Ning, Yahoo or other online group, database, and in-person meetings or Meetup group.

• Close the marketing and sales loop. Follow up over the phone and in person with key LinkedIn contacts. Use commercial mailing lists to keep them informed of current business and products.

• Use tools and processes that reduce the amount of time processing standard LinkedIn activities and messages. See Software.

LinkedIn programs

The following LinkedIn services can directly aid your business efforts.

• The most basic are LinkedIn Introduction and InMails. Use Intros and InMails for straightforward prospecting like you would in the real world. Search in target industries for your ideal partner or customer and then the decision-maker in that prospect company. LinkedIn limits your Intros and InMails. So practice IntroductionManagement so they're constantly in use.
• Post questions on LinkedIn Answers that provide the help you need or otherwise drive interest to your profile or web site.
• Create and market LinkedIn groups for your industry, company, product, or profession. List it on http://MyLinkGroups.com .
• Create an extensive profile so that people searching for members with your talents will find you ... and you'll rank high in the results. Add yourself as well to http://MyLinkNetwork.com .
• Send out regular LinkedIn updates so your connections keep you in mind, know what's new with you, and know how they can help you.
• Develop a NetworkingCampaign