BSB60520 Advanced Diploma of Marketing and

Communication

BSBTWK601 Develop and maintain

strategic business networks

© 2020 Precision Group (Australia).

Materials adapted, copied and communicated under licence.
Undertake Networking Activities
Undertake Networking Activities
Your plan to establish contact with the people you have selected to meet
must be executed smoothly. This will allow you to:
• Focus on the content of your discussion
• Confirm the real value of developing a shared business relationship
• Bring back valuable information on each person you met and share it
with other people in the organisation
 2.1 Establish Contact with Identified Business Contacts
Methods of contact:
– Face-to-face events
– Electronic platforms
2.1.1 Engage with Business Contacts Face-to-Face
– Before any networking event, remember to prepare and plan for the
following:
– Your message according to organisational objectives and policies
– People you want to contact at the event
– What materials you need (e.g. business cards, brochures)

2.1 Establish Contact with Identified Business Contacts

 2.1.1 Engage with Business Contacts Face-to-Face
When you network with a potential new contact, keep the following in
mind:
– Summarise your key points
– Meet specific people
– Avoid fillers
– Divide your message into categories
– Follow business card etiquette

2.1 Establish Contact with Identified Business Contacts

 2.1.1.1 Using Verbal Communication
When having conversations with potential contacts, remember the
following:
– Practise active listening
– Display body language
– Share information
– Adjust your tone according to the context

2.1 Establish Contact with Identified Business Contacts

 2.1.2 Engage with Business Contacts Electronically
Techniques to engage with members of professional networks:
– Research target businesses
– Approach others
– Refer organisations
Techniques to engage with members of an association:
– Maintain a newsletter
– Offer opportunities for professional development
– Personalise marketing tactics

2.1 Establish Contact with Identified Business Contacts

 2.1.2.1 Using Written Communication
Remember the following:
– Use the subject line properly
– Be concise
– Proofread
– Sign off with enough details

2.1 Establish Contact with Identified Business Contacts

 2.2 Communicate with Relevant Stakeholders the Advantages
of Developing Business Relationship According to Plan
Before sending an email or scheduling a meeting to discuss, prepare a
report on the networking activity you undertook. Some information you
may want to include in your report are:
– People you contacted and how you contacted them
– How each business relationship will be valuable to your
organisation
– What the outcome of your contact with each person was
– How you propose to remain in contact with each person in future

2.2 Communicate with Relevant Stakeholders the Advantages of Developing Business Relationship According to Plan
 2.2.1 Determine the Value of Establishing a Shared Business Relationship
While developing your networking plan you selected specific potential
contacts depending on their value.
Now that you have established contact with them, it is time to determine
and confirm the value of establishing a shared business relationship them.
Typically, this will involve using the information you gathered during your
interaction with the contact to identify the potential benefits and risks of
the shared business relationship.

2.2 Communicate with Relevant Stakeholders the Advantages of Developing Business Relationship According to Plan
 2.2.1 Determine the Value of Establishing a Shared Business Relationship
Benefits of business collaboration:
• Access to new customers in new geographies
• Better capacity to scale successful activities
• Better or improved range of products and services for customers
• Financial savings from optimising the use of resources and cost
synergies
• Information sharing leading to improved knowledge base and best
practices
• A more unified approach to meeting customer needs
• Potential joint ventures with risk-sharing
• Positive PR opportunities
2.2 Communicate with Relevant Stakeholders the Advantages of Developing Business Relationship According to Plan
 2.2.1 Determine the Value of Establishing a Shared Business Relationship
Risks of business collaboration:
• Brand dilution in joint ventures
• Challenges in managing change across the organisation
• Diverting resources away from individual goals by focusing on joint
outcomes
• Legal obligations arising from each other's actions
• Potential lack of clearly defined roles and responsibilities
• Reduced flexibility and autonomy in decision-making and joint
workflows
• Reputational loss in unsuccessful collaboration
2.2 Communicate with Relevant Stakeholders the Advantages of Developing Business Relationship According to Plan
 2.2.1 Determine the Value of Establishing a Shared Business Relationship
When you are trying to quantify the impact of a collaboration on your
organisation, think of the following:
– How much will each benefit help your organisation increase
revenue or reduce costs?
– How much will each risk cost your organisation?
– What costs will your organisation have to incur in maintaining this
relationship?

2.2 Communicate with Relevant Stakeholders the Advantages of Developing Business Relationship According to Plan
 2.2.2 Communicate Your Networking Activity Effectively
To communicate effectively, prepare a report on the networking activity
you undertook. Some information you may want to include in your report,
for each person you contacted, is:
– Name, organisation, and designation
– Advantages of developing a business relationship with the contact
– What the outcome of your contact with each person was
– Proposed communication channels for future correspondence
– Situations where issues arose

2.2 Communicate with Relevant Stakeholders the Advantages of Developing Business Relationship According to Plan
 2.3 Confirm Communication Channels with Relevant
Stakeholders for Future Correspondence
When you make follow up contact with a new business relationship,
remember to use their preferred communication channel. This will be the
one you agreed to during your initial contact. Many people have a strong
preference for how they want to communicate and following agreed
procedures will enhance your relationship.
You must also include this important information in your networking
report which you communicate to other stakeholders in your organisation
so that they too can use the agreed communication method.

2.3 Confirm Communication Channels with Relevant Stakeholders for Future Correspondence
 2.3.1 Initiate Follow-Up Correspondence
Professional relationships are built from talking with one another, finding
areas of interest in common, or areas of your business that can
complement your contacts’ business.
Contacting business relations through phone call or email is permitted by
organisational policies and procedures.
When you follow up on your initial contact using the communication
channels you agreed on, remember to re-introduce yourself.
Once these second introductions are over, you can proceed to explain why
you contacted them, in line with your organisation’s objectives.
2.3 Confirm Communication Channels with Relevant Stakeholders for Future Correspondence
 WhatIn this presentation, we have covered:
 Plan networking activities
have we Undertake networking activities
learned?  Maintain networks