The Benefits of Networking for Small Businesses

The Benefits of Networking for Small Businesses
by
Corin Tomasello

Full disclosure: Our team does a lot of networking...We truly believe people do business with those they know, like, and trust. Trust is key. Small businesses are the backbone of the economy in the United States, and with 30.2 million small businesses 99.9% of the whole business sector in our country is made up of them! To succeed in small business, we all know that success is not guaranteed. It takes hard work, dedication, and a great business plan to take your business idea to fruition. Yes, there are ups and downs in the business world, but the power of networking can impact your business in amazing ways if done right! Let’s discuss how networking and word-of-mouth marketing can help YOUR business grow!

Networking 101

Networking is all about establishing and nurturing long-term mutually beneficial relationships with people (often other business owners) that you meet. It’s proven that the more connected people are, the more successful they become. Networking helps you develop new skills, stay on top of trends in your industry, meet prospective mentors, partners, and clients, and gain access to resources that you might not otherwise be privy to. Your network can include friends and family, work colleagues, and business connections. Each connection is worth it, so take the time to foster and nurture these connections.

It is nearly impossible to succeed in business without other people’s help.

The best relationships are built on strong first impressions that become lasting connections.

Benefits of Networking and Word-of-Mouth Marketing

Here are 4 benefits of networking for your small business:

Shared Knowledge

Networking can be great for sharing ideas and gaining knowledge. An often overlooked benefit of networking is the opportunity to gather new information and learn. Whether you are receiving feedback on your ideas or discussing a new perspective, expanding your knowledge not only allows you to see things from a different perspective but can help your business grow. Plus, peer feedback is an invaluable tool when networking.

Strengthen Business Connections

Networking is all about sharing, and it is important to remember that those who give, plant the seed for mutual assistance when needed. Engaging with your connections on a regular basis is a great way to build rapport with them. They are more likely to help you out if they have a good relationship with you, and know you as more than just a “business acquaintance.” Remember this: it is nearly impossible to succeed in business without other people’s help. Read that again. Even the most successful business people in the world have a great team behind them, support systems, and networks. Use every open door as an opportunity to build new relationships and partnerships with the people and business owners around you. Share what you do and what makes your business unique. As long as you are friendly, professional, and committed to success, your networking outcome will be successful. Build lasting relationships with your clients too. Do what you love and let us focus on getting the word out. Schedule a complimentary marketing consultation!

Lead Generation

One of the major benefits of networking is the generation of leads or referrals. This is especially true if you network both outside your sector or industry and within it. Say for example you are a content writer who has a great partnership with a web developer (like us). If they design a website for someone who also needs content written for their website, guess whose details they will pass on to the client? This is why networking can be a great resource for new business leads. Keep in mind, the leads that come from networking are in essence “hotter” and tend to be more likely to convert than from other channels.

Networking is all about sharing. Those who give, plant the seed for mutual assistance. Engaging with your connections on a regular basis is a great way to build rapport. Share what you do and why you do it.

Building a Brand Presence

Networking can be beneficial and significant to the growth of your business because networking with others across your local community, online, and your industry can help build your brand presence and awareness. This is quite important for small businesses as they can build brand authority and attract more business! Networking can lead to more sales, an increase in prospective clients or customers, and more B2B partnerships. It is a great way to market your business and get your name out there.

Bonus: You Can Help Others

People helping people... While having a network is crucial to helping your small business thrive, you should reciprocate and help others. This reciprocity is the heart of networking and what makes it so special. Making it as a small business is tough, and that is why networking can be essential in many ways.

Word-of-Mouth Marketing

While we focus mainly on digital marketing, we know that word-of-mouth marketing is another channel that many small to mid-sized businesses overlook. We love networking with business owners in our community and have been amazed by the generosity of those in our network here in Tampa Bay. While networking is part of your business growth, but you also need a strong marketing strategy to maximize your reach, and that’s where Charisma Communications comes in! We help small businesses implement an integrated marketing plan so your best clients will keep coming back, speak highly of you, and become your brand advocates! Ready to build a brand strategy that works? Call on Charisma at 813-563-0248. Live near Tampa, FL and inspired to network, come meet with us on a Wednesday morning!