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How Can You Determine the ROI of Your Networking Efforts?

To figure out how well your networking is working, start by setting clear and easy-to-measure goals.

For example, you could aim to meet five new people in your industry each month or go to three networking events every three months.

After that, take a look at how things turned out based on those goals. Ask yourself these questions:

  • Did you reach your goal of making new connections?
  • Were you able to use those connections to find job leads or work together on projects?

To calculate your ROI (return on investment), think about both the things you gained and the things you spent. For instance, if you got a freelance project worth 1,000fromanetworkingcontact,that’sa1,000 from a networking contact, that’s a 1,000 gain. If you spent $100 to join an event, your ROI would be:

ROI=Money you made−Money you spentMoney you spent×100\text{ROI} = \frac{\text{Money you made} - \text{Money you spent}}{\text{Money you spent}} \times 100

That would give you an ROI of 900%!

Make sure to keep track of your progress regularly and change your approach if you need to!

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How Can You Determine the ROI of Your Networking Efforts?

To figure out how well your networking is working, start by setting clear and easy-to-measure goals.

For example, you could aim to meet five new people in your industry each month or go to three networking events every three months.

After that, take a look at how things turned out based on those goals. Ask yourself these questions:

  • Did you reach your goal of making new connections?
  • Were you able to use those connections to find job leads or work together on projects?

To calculate your ROI (return on investment), think about both the things you gained and the things you spent. For instance, if you got a freelance project worth 1,000fromanetworkingcontact,that’sa1,000 from a networking contact, that’s a 1,000 gain. If you spent $100 to join an event, your ROI would be:

ROI=Money you made−Money you spentMoney you spent×100\text{ROI} = \frac{\text{Money you made} - \text{Money you spent}}{\text{Money you spent}} \times 100

That would give you an ROI of 900%!

Make sure to keep track of your progress regularly and change your approach if you need to!

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