It is not what you know…. but who knows you!

Networking events

As an entrepreneur, I have found that including networking in my marketing strategy helped me make connections and build enduring relationships with other business professionals. When I began engaging in the cycle of giving and sharing, trust was developed. The benefit was a community of like-minded people helping one another reach their goals.

As my contacts increased, so did my visibility! It allowed my community to put a face to my name and created recognition and awareness about me and my brand. As I became more widely known more opportunities came my way.

These relationships do not just spring up full grown – they had to be nurtured.  Fed by mutual trust and shared benefits, they evolved through three phases:  visibility, credibility, and profitability. 

Visibility

I found this to be the foundation to building long-term professional relationships. Kick-start this process in two steps.

1. Attend networking events (digital works just as well).
2. Join and commit to a business network group (find one that suits your personality, business and needs).

After I developed and maintained visibility through networking, I was able to move on to the next level.

Credibility

This required actively finding ways to help colleagues. It led to stronger relationships.

1. I learned a new mindset of giving by actively going out to find good quality referrals for fellow business owners in my community / industry.
2. In return I began receiving introductions and direct referrals.

It affirmed what we all know – we all prefer doing business with people we know, like and trust.

Profitability

I learnt that visibility and credibility are important in the relationship building stages of referral marketing and that to establish an effective referral generating network takes time. I recommend:

1. Joining a networking group to fast track your success and move you into the profitability stage of your relationships.
2. As with anything that requires skill, the more you network, the better at it (or at least the more comfortable with it) you will be.

This journey taught me that the most powerful business tool for attracting customers and increasing revenue is a strong network. I found that it is not about the number of people in the network, but the strength of their connection to your brand. A loyal network is a reputable company’s best asset.

It may be hard to believe, but your company, regardless of size, can compete against large enterprises by embracing its authenticity. Success undoubtedly results from who knows about you. Persistence and commitment to networking events and a networking group afforded me the opportunity to grow and expand, despite lock-down!