Attending networking events can be a great way to increase sales, IF you make the most of your investment of time. It can sometimes be time-consuming and stressful, but there are a lot of ways to increase sales and profits by attending events such as these. Here are 5 great tips you can use to make your next networking opportunity really drum up business.

1. Prepare an Elevator Speech - This is really important. You should develop a short, sweet 'pitch' for your prospective consumers that really outlines the benefits of your products or services and who specifically you help. Your elevator speech needs to focus on the benefits you provide and what problems you solve because you really want to show them how they will benefit. People and businesses want to know what's in it for them. Make your speech do this. There is a great formula in the 7stepmarketingplan.com system which walks you through creating an effective elevator speech. When you use this formula at your next networking event, even so-so prospects can turn into great customers.

2. Take Lots of Business Cards AND a PEN - Business cards are obvious, but the pen is critical. It will become invaluable to you as you meet many different prospects. Not only will you hand out a ton of your own business cards, but you'll receive the cards of your prospects as well. Jot notes on the back of the cards to remind you of your conversation and their level of interest, timeline, etc. Remembering their unique needs will greatly help you when you're following up.

3. Stay Focused and Mingle - You don't want to spend all of your time speaking with one person, no matter how great a prospect they are. You are trying to cultivate as many leads as possible. Try to limit yourself to 5 minutes or so of comfortable conversation while you take the prospect's card and provide them with some information. You only need to give them enough information to pique their interest. After that, make your pleasantries and move on to meet someone else. There are others with whom you want to make the connection!

4. Follow Up - This is perhaps the most important part of attending a networking event because the 'follow-up' is really where you get down to business. Create a plan for following up with prospects. Call them the next day in order to schedule an appointment with them or mail them a handwritten 'nice to meet you' note. Drop off a promotional item such as a coupon or gift and a tip sheet or some other resource.

5. Offer Your Assistance Where Needed - Make sure you find out what your prospects do, so you can file it in your brain for later use. When you know someone in need of a similar service, recommend your prospect. Offering a referral is a great way to make connections and friendships. This will really pay off down the road and you will see positive results from referring business to those you meet.