As a small business owner in a tough economy, it can be hard to know how best to market your company. With time and money in short supply, prioritizing the most effective marketing strategies has never been more important. While most people are boarding the digital marketing train–and for good reason–nothing beats tried-and-true tactics like in-person networking. That’s why we’ve compiled a handy guide on what makes it so effective and how to harness the incredible marketing power of face-to-face networking.
Why Networking is so Effective
1. It Forges Human Connections
During the COVID pandemic, companies around the globe turned to online communication instead of in-person meetings, negatively impacting business relationships. While companies did what they could under the circumstances, no technology can replace genuine face-to-face connections. “Who are you more likely to remember?” asks CEO and founder of AdVenture Pro Elijah Watson. “A single face in a sea of 100 people on a zoom call or the person who came knocking on your door with a smile and firm, clean handshake?”
While most traditional methods tend to be impersonal, networking is a notable exception. That’s because people connect with other people, not companies. The average person is far less likely to click on an online ad than ask you what you do for a living. And if you can convince them why you’re passionate about your job, they are far more likely to refer someone to you down the road.
People connect with other people, not companies. Click To Tweet
2. It’s a Lead Generation Powerhouse
Good leads are hard to come by. That’s why companies spent a whopping 455 billion dollars on digital advertising last year, with projections forecasting even more explosive growth in the coming years. While connecting the right ad with the right potential consumer ready to buy a product online can be an effective strategy in closing a sale, it doesn’t often result in personal connection or word-of-mouth referrals. Networking, however, does. Even if the people you meet aren’t ready to buy your product or use your services in the short term, they likely know someone who is. By referring you to people in the coveted “ready to buy” category, you are far more likely to close a sale or deal than simply cold-calling or relying on scattershot advertising.
And it doesn’t stop there. “Networking is a long-term investment that can pay dividends years down the road,” says AdVenture Pro Marketing Director Ashley Walters. Referred-in customers have a 37% higher retention rate than other customers. And as more and more people referred to you use your services, they refer even more people. One solid referral can generate endless leads.
Networking is a long-term investment that can pay dividends years down the road. Click To Tweet
How to Harness the Incredible Marketing Power of Face-to-Face Networking
1. Up Your Community Involvement
One of the simplest ways to market yourself is to get involved in your local community. Attend conferences, expos, ribbon-cutting ceremonies, business luncheons, and volunteer events in your area. Meet people. Listen to their stories, and share your own. By getting your name and face out there, you are increasing your visibility, bolstering your credibility, and planting the seeds for business opportunities in the future. Just be sure to take your business cards and follow up!
2. Join Your Local Chamber of Commerce
The US Chamber of Commerce is one of the largest business networks in the nation. By joining a local chamber in your state or municipality, you can access valuable resources to help you grow and promote your business. While attending chamber events and getting featured in the chamber directory is a definite plus, the real value in joining comes from utilizing their Lead-Exchange-And-Referral-Network Groups (LEARN). By networking with like-minded entrepreneurs and business owners in the area, you can actively gather local leads while forging long-lasting relationships.
3. Join a Local BNI Chapter
Similar to the LEARN groups above, BNI (Business Network International) is a global network that connects you with business owners to exchange leads. While LEARN groups tend to be laxer, BNI groups are geared toward higher engagement, requiring more time commitments and weekly accountability on the number of referrals given. They also quantify the value of each lead in real dollar amounts, giving you valuable insights into just how much business you are generating from the group. One of the owners of a local tire shop told us he’d banked over $600,000 worth of business over the years from a single group! That’s a lot of money–well worth the annual renewal fee of only a few hundred dollars. If you’d got the time, it’s a smart investment.
Recap: How to Harness the Incredible Marketing Power of Face-to-Face Networking
In the world of marketing, nothing can replace good old-fashioned face-to-face interaction. By mastering the art of networking, you can bolster your professional credibility, generate leads with word-of-mouth referrals, and build lasting human connections. Don’t miss your chance to tap into this incredible marketing tool. Join your local chamber or BNI group today!
