Unless your business is located in a sparsely-populated area, there are probably a number of business networking groups near you. There are Chamber of Commerce groups; local chapters of national groups such as BNI, LeTip and NAWBO (National Association of Women Business Owners); industry-specific groups; religiously-affiliated groups; meet-ups; and more. If you add in groups that only meet online, your options expand even further.
Considering how many business networking groups there are, this is clearly a marketing tactic that works for many business owners. Why?
Business networking is all about knowing, liking and trusting
The key concepts behind business networking as a marketing tactic are as follows:
• People like to do business with—and refer others to—people they know, like and trust.
• When businesspeople get together on a regular basis at business networking group meetings, they get the opportunity to know, like and trust each other.
• Having a network of businesses that you know, like and trust is not just beneficial for your own needs. It can also be a tremendous value-add for your customers and a great way to help your friends, neighbors and family members. When someone is looking for an accountant/chiropractor/auto repair shop/whatever, you have a trusted business networking partner to recommend.
• Word-of-mouth advertising is the best type of advertising. When a group member refers a potential customer to you, they don’t just provide an introduction. They also put in a good word for you. Thanks to that endorsement, the prospect is already “pre-sold” on your company. After all, someone that they trust has vouched for you.
Business networking expands your reach
Something to keep in mind is that in business networking, the primary goal is not to sell your products and services to the other members of the group, although that can certainly be a secondary goal. Your primary goal should be to get referrals from your business networking partners to people who are already pre-sold on doing business with you. Business networking essentially gives you access to other people’s personal and professional networks of contacts.
Business networking is also a great way to form close business relationships (often known as “power partners”) with people whose clients will naturally need your services. For example, Realtors, mortgage brokers and homeowners insurance salespeople all serve the same clients.
However, business networking requires a time commitment
If you’re just getting started with business networking, be aware that it is not an “instant gratification” marketing tactic. It takes time for others to get to know, like and trust you. It takes time out of your day to attend the group meetings, and to have “one-on-one” meetings to get to know individual members better. Plus, it takes time to get used to the group’s structure and culture.
If you join a group that devotes a portion of each meeting to going around the room and letting each person give a “30-second commercial” about their business, doing a good job on these is vitally important.
If you, like most people, struggle to figure out what to say and how to say it (and, especially, how to say it before your 30 seconds are up), I highly recommend you check out my course, “Nailing Your 30-Second Business Networking Commercials.” This on-demand, video-based course will give you all the tools you need to craft and deliver compelling commercials with confidence. The course takes less than an hour, is just $99, and even comes with an amazing file of 30 sample commercials for a wide variety of businesses that you can copy from.
Learn more at www.businessnetworkingcourse.com.