Using networking to make marketing easy
In many cases, entrepreneurs are emotionally attached to ideas they have developed. And they are often not experts in marketing strategies.
As such they can easily fall prey to marketing ‘experts’ who convince them to spend large amounts of money on marketing to get their product/service ‘off the ground’. This may or may not work. In other words, it’s risky.
For an entrepreneur or business owner, networking is a better solution. It’s one of the most powerful, easy and inexpensive marketing strategies possible.
Marketing strategies: don’t focus on coming up with a good idea
Many people still believe the starting point for great results is to have a great idea for a product or service.
It’s important to know that ideas are the easiest things to come by. There are many great ideas that fail because their creators lacked the right connections, funding or online marketing.
Why not instead focus on creating a far more valuable asset – a network of trusted relationships? When you have a large network, many people will tell you about their ‘great idea’ because they can see you potentially have the network that can make their idea work.
As a proactive network builder, you will are likely to greatly increase your creativity. You will see how you can connect ‘x’ with ‘y’ to create a very valuable alliance (where you benefit).
Ever heard the expression: “The best form of marketing is word of mouth”?
That is as true today as it’s ever been!
When a recommendation comes from someone other than you, it is very powerful.
And when you have many others advocating for you, you can greatly multiply your efforts. Especially when someone, who is respected, advocates you to a decision maker with the ability to influence large purchasing decisions.
What happens when you have a product or service which is difficult to differentiate in the market, such as Real Estate services or Solar?
In such cases, people buy from people who have been recommended to them by word of mouth, people they know, like and trust.
You can begin to see how powerful networking is as a marketing strategy.
The easiest, least expensive, most effective and most scalable way to start marketing?
Exponentially expand your team of advocates! If you can find a way to help an organisation generate more business for very little cost, you probably have a winner.
Most businesses are focused on increasing revenue – making sales, generating more business, brand awareness and so on – as their top priority. Generating more revenue is often of more interest to business owners than reducing costs (the other factor that can positively affect their bottom-line).
And when you have an expanding network it becomes easier for you to help businesses do just that. Indeed these businesses may even want to offer you a formal referral percentage to incentive you to keep referring potential business to them. It’s win-win for everyone involved!
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