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Business networking is a method of marketing businesses use to generate leads and opportunities through networks of business minded people. There are many networks out there which allow the companies and people involved to form relationships and contacts without having to go out and market to the public. It gives you the chance to meet and get to know professionals with services that are complementary to your own and works out to be a lot more cost effective.
The reason it is so cost effective is because it involves a more personal approach, where you are selling your services through conversation and networking, a conversation doesn’t cost anything and is a more friendly, trust worthy way to generate business.
Normal business networking groups tend to meet all together either monthly or even weekly with the sole purpose to exchange details, give referrals and they can book extra meetings outside on a one to one basis. By doing this they are forming a relationship with another member, without having to rush and meet other people, it means you get to meet people you may not have before.
You don’t have to use everybody in your group but it is always good to meet them, give them your business card and take one in return, you may not need their services yet and vice versa, but that’s not to say you won’t ever need them. Develop meaningful contacts within your group, so if in the future you need their services, you already have a relationship with them.
Networking gives you the opportunity to find out more information about business that before you may have been unaware of. You can develop new skills and knowledge by attending things like seminars or training sessions set up by fellow members.
It’s not just local business that benefit from networking, it can go much further via the internet through media such as social networking websites. Over the years the internet has really helped small business expand, this is due to the internet having easy access to business and people all over the world, making networking more popular on a larger scale.
Many business people tend to prefer face to face networking over online based networking because it is more likely that they can create a more valuable business lead as opposed to being faceless if doing business over the internet. A lot of professionals also prefer this method as it gives you a chance to meet who you are doing business with, get an idea of their personality and generally form a more personal relationship with them. If they like you, they are then likely to recommend you to a friend. This is less likely to happen if you haven’t met the person.
It’s not serious all the time and a lot of business networking groups organise events such as members dinners, and sporting events. This gives you a chance to get to know people in a more relaxed environment. You can still generate yourself some business, but whilst having fun and bonding.
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