We just completed our new video that explains business networking – an undeniably effective method of small business marketing.
We made the video to articulate an inherent problem for business networks – the management of referrals and business opportunities – but that’s not the only thing that they collaboratively trade. Business networks also exchange ideas and information, and those are in most cases the elements that act as kind of the initial building block of many referral relationships and business partnerships.
Establishing or joining a network of other professionals to exchange referrals with is one of the quickest and most inexpensive ways to get a business off the ground. When compared to other approaches to starting the sales engine – business networking is a low cost and high yield method to gaining customers and typically generates a higher and faster return than other small business marketing efforts. Some people join business networking groups like BNI, or BRX. Others prefer more casual environments like chambers of commerce or trade associations (yes those are also considered business networks), and many people just simply either have or develop their own personal business networks of partners where everyone collectively builds their businesses and mutually benefits. Whatever way you choose to do this – it’s a great idea.