5 Tips to Improve Networking Skills in 2024

Networking is not just about meeting people. It is the exchange of ideas and information among people, most of the time with a common interest or end goal. Networking is also an avenue to build long-term relationships and, when done right, can lead to mutual benefits, including monetary.

This skill is even more important when you are an agent (financial, travel, etc.) and your work is based on referrals and connecting with people. For instance, IDFC FIRST Bank's MyFIRST Partner Program is a referral program that lets you earn a payout on each successful loan referral. These earnings could go as high as INR 50,000 or more each month. However, to achieve such success, it is crucial to understand the fundamental aspects of networking skills and how they can help you win hearts and eventually earn money.

1. Understanding people's needs:
 

Networking is more listening and less talking - which means - you need to understand what's new in the market, what most people are inclined towards these days, what entices someone, etc., ultimately helping you offer a product that one would buy. When you pay attention, you start understanding people's pain points, which can help you present your offer in a way that makes it the ideal solution.

For instance, if someone is worried about funds for their child's marriage or home renovation, you can refer them for an IDFC FIRST Bank personal loan through the MyFIRST Partner Program. However, you can only do so if you have understood their problem correctly. As a registered partner, you not only offer a solution for them to get the necessary funds, but you also earn a payout on loan disbursement in the process.

2. Responding to concerns:
 

With the art of listening comes the art of asking the right questions, which can make you more effective when responding to situations. By being proactive, you can ensure your clients understand the product, its use, advantages, and more. It can help make them feel confident about the product or service they are choosing. This can eventually lead to future referrals by word-of-mouth publicity.

3. Improving client experience:

Most people like to make decisions for themselves. It is important to remember this when selling a product, service, or idea. Improving client experience starts by empowering, personalising, and ensuring they see the benefits of the solution themselves. Once you start walking in your client's shoes, you can provide a better buying and after-sale experience.

4. Keep it personal and not transactional:
 

Not every person you meet becomes a client. A few might turn into acquaintances who may or may not help your business in any way. However, adding a personal touch can do wonders for your networking skills, business, and, most importantly, reputation. It is ideal to be someone who cares rather than someone who is only interested in growing their business, as the former makes you more human and approachable.

This approach can also help you as an IDFC FIRST Bank's MyFIRST Partner since growing your network is an integral part of the program. Keeping it personal and showing empathy will prompt others to open up about their problems, thus enabling you to help them see the benefits of getting a personal loan from IDFC FIRST Bank by conveying in a way that resonates with them.

5. Be active on social media:
 

Social media is one of the best ways to stay in touch with people you do not regularly meet or see. You get a platform to offer them the correct information about your products, and it can also give you a glimpse of what is going on in their lives, thus building better connections. Knowing about your customers can further help you pitch the benefits of IDFC FIRST Bank's personal loan. Use the right platform to connect with your audience and be consistent by setting aside a few minutes to post something or respond to comments daily.

These small tips can help you network better and, in turn, grow your income stream by helping you connect with the right people and portraying you as someone they can trust. These skills are essential to benefit from opportunities like the IDFC FIRST Bank's MyFIRST Partner Program.

This program is an excellent way to generate an alternative income stream and earn money by referring. All you need to do is download the IDFC FIRST Bank's MyFIRST Partner App, register yourself to become a partner and recommend IDFC FIRST Bank personal loans to those who need them. As you build your network, so too will your business grow.

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.