In an earlier article, I talked about the monetary value of each of your connections on LinkedIn…
In 2016, LinkedIn was purchased by Microsoft for $26.2 BILLION in CASH!
At the time, LinkedIn had 450 MILLION users. Each connection was valued at $58.20. So if you take the number of true prospective connections you have on LinkedIn (…not your high school football coach or your 2nd cousin once removed) and multiply that number by $58.20, you will find the worth of your profile.
Now, let’s look at building your LinkedIn connections through the lens of the ‘Billboard Experiment’ that Jonathan Freedman and Scott Fraser did back in the 60s. The results are published in the “Personality of Social Psychology.” They proved the Foot-In-The-Door Phenomenon.
Essentially, the study was to visit pre-selected neighborhoods to ask homeowners if they could place a pretty sizable billboard in their front yard that said, ‘Please Drive Safely.’ Although we can assume that everyone wants to live in a safe neighborhood, surprisingly only 17% of homeowners agreed to allow it.
The next step was to go to a similar neighborhood and ask the homeowners if they would put up a 3″ ‘Please Drive Safely’ sticker. Almost everybody said, “Yes!” because the size wasn’t intrusive.
In a couple weeks, the team went back to the same homeowners who said, “Yes!” to the 3” sticker to see if they could replace it with a larger billboard. Guess what happened?
Seventy-six percent of the people AGREED to put the billboard in their front yard!
What does LinkedIn prospecting and the ‘Billboard Experiment’ results have in common? In the experiment, they got people to say, “Yes!” for something much smaller in the beginning to get what they really wanted in the end.
When a prospect says, “YES!” to your LinkedIn connection request it means that you now have a foot-in-the-door with them. You are much likelier to get a “Yes!” for something much larger later, such as a meeting or a sale.
Keep in mind that the whole sales process starts with your first “Yes!”
How Does a Connection Lead to Monetization?
When a prospect says, “Yes!” to your invitation and reviews your profile, you immediately start building a relationship with each other. On your profile, they can quickly see who you are, find out what you are all about, what your interests are and what you do at your company.
Additionally, when you get a connection, you can message them whenever and IMPORTANTLY obtain their email address, which is super huge for building a list of potential clients.
Remember, in using LinkedIn you can target your ideal prospects right down to the industries and groups they are in, what their interests are and their seniority level.
- Are they VPs, are they Directors, are the CEO Level?
- Are they CXO Level?
- Are they Self Employed, Not employed, No Employees?
- How Big a Company are they?
- Do they have 10 people in their company?
- Do they have 1,000 people in their company?
- You can even target by ZIP code.
That’s pretty cool!
Knowing the keyword descriptors for your perfect targets is important.
Are you searching for: CEO’s, Small Business Owners, Executives VPs of Sales, CMO, CTOs, Recruiters, Human Resource Directors, Managers, Attorneys, Marketing Companies, Social Media Companies, Doctors, Dentists and even, Speakers, Authors, Contractors, Engineers, or Nurses? It’s pretty much limitless, right?
Here are Some Suggestions on How to Write a Stellar Connection Invitation
- 9 Lines Singlehandedly Ruining Your
LinkedIn Connection Requests (Source: Hubspot)
- How to Write the Perfect LinkedIn Connection Request (Source: The WordStream Blog)
Remember, getting your first “
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