It’s no secret that networking is important for the success of your business, no matter the size or what you produce. But not all companies know how to make the most out of business referral networks or how to make progress with their current networking tactics.
If you’re worried about your current networking approach, take a moment to learn exactly why networking is so important and which practices are best for today’s business market. Stop blindly networking and start making it easier for productive business deals to happen.
The Benefits of Smart Networking
87% of companies say they network. If you’re not one of them, the most likely causes of not networking are a lack of time or high costs. But networking doesn’t have to be expensive or take up your entire work day. Once you understand how to wisely market yourself, your brand, and your business, you’ll quickly see the benefits, including the following:
Word of Mouth Referrals
A word of mouth referral is strong and valuable. If you can secure several of these through referral network marketing, your business will be in much better shape. The best benefit about word of mouth referrals is that they quickly multiply.
Discover New Suppliers
Whether you rely on other companies for physical products or services, networking can help you discover a better provider of both. You can ideally get more for your money while hopefully spending less.
Learn from Others
There’s always something new to learn, whether you’ve been in business for a month or 10 years. Always take the opportunity to learn from others, whether it’s marketing practices, brand development, or how to have a better attitude towards your work.
Polish Your Elevator Pitch
If you find yourself stumbling over your own words when explaining your business, networking business sites will get you over the fear and help you come up with the perfect responses to questions about your business as you see which answers gain a positive reaction.
New Opportunities
Networking can open doors you might have never seen before. You never know what the next connection can bring your way. Always keep an open mind and you’ll find yourself with plenty of choices instead of searching for new potential.
While all of these are amazing benefits and can transform your business, many businesses are still relying on old school networking practices. Just as businesses evolve, so does networking.
While a handshake and a smile will always have a place in networking, networking conferences and cold calls just aren’t what they used to be. Any type of networking is better than no networking but don’t make the mistake of mixing up leads and referrals.
Focus on business referral networks for the results you’re after, especially in today’s fast faced and competitive market.
Best and Worst Business Referral Networks and Techniques
If you believe you’re putting your all into networking but just aren’t seeing the results, see how your approach lines up with our best and worst networking practices.
Smart Networking
Set a Goal
In order to succeed in networking, you need to know what you’re working towards. Keep this goal in mind when you’re not sure where to take your networking next.
Get Social
You can’t reach your true potential in today’s digital business place without joining at least one social media platform. Choose at least one and stick with it.
Understand Google
You don’t need to be an expert but take some time to understand how search results affect your business and how your website stacks up against the competition. First impressions are everything, even online.
Follow Up
Following up can mean the difference between a relationship and a burned bridge. Always reach out to a new connection after your initial contact to let them know you’re serious.
Start a Newsletter
When done correctly, a newsletter helps you stay connected and shows your knowledge regarding your product or service. It’s a great way to stay in someone’s mind without bombarding them.
Poor Networking
Selling Right Away
Throwing a sales pitch at someone you just connected with is tacky and will never be well received. We’ve all been on the receiving end of a pushy salesman. It almost never ends up with a sale.
Not Listening
When networking, you should be spending more time asking questions and listening to answers instead of talking about yourself and your business.
Not Being Authentic
If you lack passion or drive, it will show through your networking. To find success, you need to be truly passionate about the message you’re trying to get across.
What’s the Best Business Social Network?
Wouldn’t it be great if there was a business platform that allowed you to network with other business that either want to do business with you or can provide the services or products your business needs? We thought so too, which is how Tradepay came about.
Tradepay is FREE to join (free networking anyone?) and allows you to reach out to companies all over the world. You’ll be able to reach out on your time and they can respond on their time. Networking has never been so convenient!
Here’s how Tradepay works.
What makes Tradepay a great business referral network is that everyone on there is looking to do the same as you are. Unlike other professional networking groups, no one’s looking for a job or trying to promote unrelated topics.
Think of it as the world’s largest business to business networking conference, but without the travel and stacks of business cards. You’ll be able to connect with beneficial companies from around the globe on your time, creating opportunities that the networking of yesterday would never be able to.
If you’re looking to make new connections that are worth the investment in time and effort, head on over to Tradepay, the ideal business referral network. You can be signed up and networking, all for free, in a matter of minutes. See where the networking of tomorrow can take your business.
