How can networking boost your business?

A cycle of relationships happens to them on a daily basis. Composed of family, friends or acquaintances, it constantly evolves during our interactions and encounters. This proves more useful at times. A company’s network is equally important in its growth and can even make it explode in some cases! Let us see how a good network can contribute to the growth of a company.

Word of Mouth: The Best Business Promoter Ever

All marketing professionals agree on one point: user recommendations among themselves are one of the first elements of a company’s success. Word of mouth has proven itself and does not take wrinkles. That’s the best way to know.

If someone close to you recommends a particular restaurant and one day you find yourself in front of this establishment, you will probably pass through its doors instead of a neighboring business. Talking about yourself is important and it doesn’t have to cost a lot of money.

From giant Apple to French brands Michel and Augustin, companies that have used word-of-mouth tactics to expand their prospects and customer lists have found surprising success. Betting on this workhorse is the most effective way to pique your target’s interest, and the more you have an extended network, the more likely you are to persuade!

network to gain visibility

The notion of network is almost inseparable from recommendation. Of course, spending huge amounts on advertising campaigns can attract potential customers, but keep in mind that they will follow this concept only if they feel confident.

This feeling can appear when someone sufficiently trustworthy in their eyes recommends one brand to them instead of another. A good network of professionals around you maximizes the likelihood that they will talk about you to their acquaintances. Also keep in mind that a person’s network is primarily made up of those closest to them. Also, when you promote your company to someone, it can have an impact in any situation. The more you show yourself invested in your activity, close to customers, attentive and rigorous, the more your admission, in a broad sense, will recommend you. Then you get visibility, which should get you new customers, etc. This virtuous circle can only benefit your business, so celebrate as many people as possible!

Generating Financial Contribution Through Your Relationships

In addition to gaining visibility for valuable recommendations from your acquaintances, a network can also help you finance. “Love money”, also called “Three C money” for cousins, friends and strangers, is often the first source of financing for companies.

Asking your loved ones for money remains a reflection as you set up your business, but when your needs become more important, it’s not always enough. Then you need to aim more broadly and conquer professional knowledge. Again, the larger your circle of connections, the faster and easier this process will be. If you meet people who are experts in the financing or banking sector, or if you meet people who are interested in your project and you manage to sell your idea, they may decide to help you. This way you avoid traditional red tape and go through humans you know better and can trust.

Find partnerships that will grow your business

Since you can find investors in a network, why not find the right partner for your business out there? As you expand the circle of your relationships, you are encouraged or not to meet professionals in your field, which often proves very useful, even if they provide services similar to yours. In this specific case, use this relationship as a competitive intelligence tool, which will allow you to stay up to date. New business relationships may also provide you with additional information or practice an activity related to yours. In this case, you may have met a firm that will thank you for your vision, its financial contribution, or its product, which you have not been able to make successful!

A club for entrepreneurs looking to broaden their horizons

Expanding your network offers many possibilities and involves several steps. Attending events, attending trade fairs, advertising campaigns or telling people about yourself via email on the Internet… get recommendations from them.

These structures offer different offers: some businesses focus on referrals, while others favor human interaction and exchange. All of them will give you access to new people who are likely to match your expectations. Some even organize sessions where entrepreneurs come together to discuss their experiences, difficulties and successes, to help each other or seek advice. Others, finally, always organize networking-type events like conferences or even more fun outings with a view to networking.

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