Sunday 2 October 2011

Networking and Small Businesses - Does it Provide Value for Money?

When asked about their strategy for getting new customers, it is not unusual for business owners to respond 'referrals'. Experts agree and my own experience confirms that referrals can be a powerful way of getting new clients and generating repeat business. However, referrals alone cannot be the only item in the marketing basket, especially for small businesses. The question is what else and at what cost?


Some business owners, including some of my own clients, use a mix of offline and online strategies to generate a steady stream of new and repeat customers.

And, back to a keyword in the caption of this blog -networking. Five years ago, mention networking and immediately I would have thought of weekly business breakfasts, monthly lunch time women's groups and evening chamber of commerce networking events. In 2011, however, when I think of networking, I consider both online and offline events. Indeed, I have connected with and exchanged with people online, especially on Linkedin, only to meet them subsequently at offline events. Indeed, I attended an offline networking event just over a week ago based on an online recommendation and as a result met a couple of business owners with whom I scheduled meetings in the past week. Both meetings were mutually helpful and we will continue to have discussions on specific areas in which collaboration is possible.



Does networking provide value for money? A resounding YES -provided you network with people with a need for and the willingness and capability to pay for your services.

You may not be invoicing the week after the networking event, however, networking where potential users of your services are present will result in more invoices very soon after.

Have a successful and profitable week!



Veronica




 

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