LinkedIn Network Growth: Strategies and Insights for a Stronger Online Presence
What comes to mind when you hear "six degrees of separation"?
Most will say "Kevin Bacon". Ask Google to find out why.
The theory of six degrees of separation is based on the premise that, because we are all linked by chains of acquaintance, any two people are six or fewer acquaintance links apart.
In LinkedIn terms, that concept is illustrated by your 1st, 2nd, and 3rd+ degree connections and beyond - the smaller the circle the further the degree.
The Importance of Building Your LinkedIn Network
Your Network is Your Net Worth*
Building a network on LinkedIn offers several benefits and drawbacks. Here are three benefits and three challenges of establishing connections on LinkedIn, along with examples for each:
BENEFITS:
?? Professional Networking: LinkedIn primarily focuses on professional networking, making it an ideal platform for connecting with colleagues, alumni, industry professionals, vendors, and potential clients.
?? Business Opportunities: Developing a purposeful network allows you to connect with potential clients, investors, or partners, resulting in new projects, collaborations, and access to a broader customer base.
?? Knowledge Sharing and Learning: On LinkedIn, anyone can publish knowledge and insights and/or participate in discussions through comments. The more connections you have, the higher your visibility, assuming you are actively participating.
CHALLENGES:
?? Information Overload: As your network grows, your newsfeed will become more crowded. Typically 10-20% of your network sees your content and vice versa depending on the algorithm and your settings. Sorting through numerous updates, notifications, and messages can be time-consuming and may distract you from your primary objectives.
?? Lack of Personal Connections: By virtue of LinkedIn being an online network, LinkedIn lacks the personal touch of face-to-face interactions. Establishing trust and deeper connections without direct interactions is challenging, and many individuals connect only to forget about their connections later.
?? Spam and Unsolicited Messages: As your network grows, you may encounter an increased number of unsolicited messages, spam, or connection requests from individuals with irrelevant or dubious intentions. Managing privacy settings and being cautious about accepting requests can help address this issue, but it can still be irritating.
NOTE: The pros and cons mentioned above may vary based on your individual network, experiences, goals, and the extent of your active engagement on LinkedIn.
Outta sight...outta mind!
To remain top of mind, it's essential to grow your network while consistently publishing and sharing insights relevant to your market niche, in addition to direct messaging your high-value connections. Staying top of mind and building your network through content, commenting and conversations are the key ingredients that make your LinkedIn experience valuable.
Build Your Network Strategically
Use LinkedIn Search Filters
LinkedIn is essentially a Rolodex filled with people you may want to connect with based on the criteria you select and your network proximity. When you identify people you want to connect with, act as if you would in real life. Don't be rude and don't assume anything.
Take a look at their profiles and their activity, then send them a personalized invitation explaining why you want to connect. Was it something they commented on, is it something about their profile or other points of connection? The more specific the more likely it will get accepted.
In my years of running LinkedIn campaigns, the average conversion is 30%. That means out of every 100 invites you send, you can expect at least 30 to accept. There are so many factors that impact this conversion. Your stats will vary based on the industry, relevance, and activity.
Keep in mind though that with each new connection, your 2nd-degree increases by at least 400 +/- which is why I cannot stress enough the importance of continually growing your network strategically.
Increase Your Visibility
Ensure that your visibility settings are set to full view. Otherwise, when you view someone's profile, you will show up as a stalker or in LinkedIn terms "anonymous" which defeats the whole point of networking.
How To Manage a Limited Network
Sometimes, we overlook the potential connections that exist beyond our usual marketing niche.
For instance, I have a client who provides Managed IT Services for engineering firms in a particular geographic area. Since the number of local engineering firms in his area is limited, we use Sales Navigator to expand his opportunities to include related industries such as construction firms, architects, and individuals in commercial real estate. These professionals often have similar needs and networks and are likely to be connected with engineers they work with or know.
To further explore this approach, we delved into industry associations that are highly focused and a goldmine of a resource. Additionally, we compiled a list of speakers and influencers who frequently participate in industry tradeshows.
By broadening our scope, we discovered new opportunities for connections and collaborations.
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Withdrawals, Unfollows, and Removals
Just like dirty laundry, old invites don't get better with age. If someone hasn't accepted your invitation to connect within three weeks of sending it, it's best to withdraw the invitation. This approach keeps your sent invites list manageable and allows for sending another invite later if needed. If you notice a pattern that your invitations aren't getting any "love", there may be something off in your targeting, your profile, or your messaging. Track your invitation acceptance rate (as I said earlier 30% is the baseline - strive for 50%+).
Should You Remove Connections?
When it comes to growing our network, isn't more always better?
In my previous role as the VP of Communications for the Austin Chamber of Commerce, I connected with every company and business member. Over the course of three years, I added over 1,500 connections. At the time, this strategy was appropriate for my situation. However, when I relocated to New York, did I remove my Austin connections? No. But why not?
Consider the second-degree proximity. If I were to remove a connection, I would lose that proximity, which could hinder my ability to grow my network.
Additionally, because I regularly download my database, I discovered some of my connections had also moved to different cities outside of Texas, and a few even ended up in NYC. So unless you have valid reasons for removing someone, it's best to leave them as a connection. You never know where or with whom it may lead.
I'm Just Not That Into You!
If you don't want someone's activity to show up in your newsfeed, simply unfollow them instead of disconnecting from them. This way, you maintain the connection, and your feed remains streamlined.
I always refer to this basic litmus test:
Use your strategy as you identify and grow your network. From there, you can determine the type of people you want to connect with.
Time to Audit Your Network: Don't Miss Out on Opportunities
When I facilitate a training workshop I always poll my audience in advance. In a recent survey of Financial Executives workshop attendees, it was alarming (but not surprising) to discover that 73% had never downloaded their network. This can have serious consequences. Just imagine if LinkedIn no longer allowed you access to export your network database. It happens!
It's crucial to regularly assess and review the quality and relevance of your connections. By conducting a network audit, you can identify potential business opportunities that might have been missed.
Take the time to evaluate each connection, nurturing those that align with your goals while considering the value they bring to your network. This proactive approach ensures that your network remains dynamic and aligned with your changing business needs.
Following a productive conversation with his associate, my client secured a lucrative $50k assessment project, all thanks to the existing relationship.
Here's a real-life example of this strategy in action.
In the process of onboarding a new client, one of the first things we do is review the existing LinkedIn network. After exporting his data , we sorted his connections by title and company and identified 25 people to re-engage with. We worked together to come up with personalized messages to rekindle relationships with these connections he hadn't interacted with for a while.
During this process, he had a conversation with a former colleague who had since moved to a new company, and they discovered significant business synergies. Following a productive conversation with his associate, my client secured a lucrative 5-figure assessment project, all thanks to the existing relationship.
The trust is already there because they knew one another. They just lost touch! Just imagine, this opportunity would have remained untapped if he hadn't taken the initiative to reach out.
So before you get distracted, go ahead and initiate the process to download your database. Here's how and also tons of suggestions on what you can do to leverage your data. You're welcome!
? 2023 Judi Hays. All Rights Reserved.
*The phrase "Your Network is Your Net Worth" is commonly attributed to Porter Gale, a marketing and branding expert. She popularized the phrase in her book titled "Your Network Is Your Net Worth: Unlock the Hidden Power of Connections for Wealth, Success, and Happiness," which was published in 2013. While she may not have been the first person to say it, she has been influential in spreading its usage and emphasizing the power of networking.
ABOUT JUDI RADICE HAYS
Judi Radice (Raa-dee-chay) Hays is a sought-after certified LinkedIn strategist, author of 'Elevate, Expand, Engage,' a Refreshingly Different Approach to Winning on LinkedIn ’, and regular?Forbes contributor .
Judi is known for successfully turning underperforming LinkedIn profiles into prospect-attracting powerhouses. Judi helps business executives identify their audience, elevate their LinkedIn profile and personal brand.?
Judi consults with businesses that sell high-ticket professional services in high-trust selling environments. Through her proprietary methods, Judi guides her client's strategy to build authority, credibility, and trust which ultimately leads to increased revenue with her expertise.
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