Prospecting at Meetup Networking Meetings

May 17, 2017

  1. FBN
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    FBN Super Genius

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    Does anyone prospect by going to local Meetup networking meetings? Which types of Meetups have been most successful for you. What do you say in the few minutes that you have to introduce yourself and what you do?
     
    FBN, May 17, 2017
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  2. Justin Bilyj
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    Justin Bilyj Guru

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    I've gone to some that are niche market related like "digital marketing", in addition to some passion causes I am into, and some "30's" and real estate groups as well.
    My only mission is to get a card, and connect with them over Linkedin. I find LinkedIn groups, local chambers, bni's and Network After Work to be more focused networking. Meetups are more about fun and hobbies than business. But there's nothing wrong with building a network of people you can drip on over time which is why any club will do - your bound to find someone to help.
     
  3. VolAgent
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    VolAgent Guru

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    Talking life insurance at the cocktail party is a great way to have plenty of space all to yourself. I would follow Justin's advice and collect business cards to call on later or look for referral partners. But I definitely would not talk life insurance or prospect the people there.
     
    VolAgent, May 17, 2017
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  4. scagnt83
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    scagnt83 Worldwide Expert of Everything

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    Prospecting and networking are two different things. Agents confuse them, and it kills both their business and their social life.
     
    scagnt83, May 17, 2017
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  5. kgmom219
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    kgmom219 What's Next?

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    OP...what are you trying to do? Sell Life Insurance? Financial Planning? Meet Business Owners?

    Networking can be both networking (long term gain) AND prospecting (short term gain). Networking will get you in front of more people, who know someone else who might need your services. It takes 6 months minimum to see a return on a networking group.

    Prospecting is looking for actual clients. Not people who might refer you to clients.
     
    kgmom219, May 17, 2017
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  6. Ric Craig
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    Ric Craig Expert

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    I found that the groups i went to were folks just looking to social and were lonely. LOL. They had no intention of buying anything. A lot of MLM scams etc..... BNI is probably the most professional group for networking but you have to get up at 7:30 am and you have to pay $700 or $800 a year... that money could be used more wisely for the amount of time you would have to schmooze to get any headway. Its better to buy leads and see strangers and move on..... better ROI for what we do. Just my opinion. I talk to the FE Cowboys that are slangin and bangin and rackin and stackin and going on every carrier trip known to mankind and non are in these networking groups... none
     
  7. pfg1
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    pfg1 Guru

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    I've been in BNI for 3yrs. IMO, they are certainly the best true networking group to join because its structured. Overall its been very profitable for me. To join is $650 the first yr, and to renew is $475/yr. Its certainly a commitment, but imo it can definitely be worth it. I've made 30x my cost to be a member this year already. Meeting time vary greatly really based on where the group meets. Most are in the morning hours, ours is 8:45-10am every Tues. I don't do FE, that probably wouldn't be as profitable as a being in a financial advisor or insurance agent position with BNI. The real value to me with BNI is the relationships and getting my name and brand out there.
     
    pfg1, Jun 12, 2019
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  8. Ric Craig
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    Ric Craig Expert

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    yeah, that makes sense if you are a financial advisor.. the lesson is .... know your market... Its seems that each chapter has their insurance guy already.. very hard to get in.
     
  9. cehinton
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    cehinton Expert

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    The thing about networking groups is: the other members there have the expectation that you are going to refer clients to them, as well as they to you.
    I've always found it very difficult to truly come up with any prospects for the fellow members, and therefore didn't feel like I was being an authentic contributor to the group.

    Your mileage may certainly vary. If you can actually deliver on your end of the bargain then it can be great. It can also be a great social outlet depending on the makeup of the members. I used to be very involved in the Chamber of Commerce and I found it a lot of fun and made great connections.

    Other networking groups- not so much.
     
    cehinton, Jun 27, 2019
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  10. pfg1
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    pfg1 Guru

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    Of course they expect you to refer folks.... that's the reason for the group. And if you plan to be a giver of referrals you will get them in return. Some folks come in with a goal of getting referrals only or trying to sell the group, vs become a solid referral partner of the group. I've never tried to sell my group, its a plus if anyone in the group can use your services and if they get to know you and trust you they will use you - and they have.

    I gave 3 referrals in the past 2 weeks, 1 to P&C guy for homeowners, one to Mortgage person for a refi, and one to Estate Planning attorney for estate plan. It works if you work it. Many weeks I don't have referrals, but my antenna's are always up for them.

    I will agree, not all groups are great. I guess I'm fortunate, ours is up to 21 folks and very good group of people across the board.
     
    pfg1, Jun 27, 2019
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