Business Networking To Increase Sales

An enhanced and well-planned business network can be a great tool when it comes to growing your business revenue. Most people end up disappointed when they do this by approaching it without a solid plan or a clear objective.

It is very important for businesses to use online business networking in Surrey, especially when they have a limited budget. According to research, more than 80% of online business networking will come from recommendations made by word of out, referrals, and business networks. It is a great idea to leverage your existing clients because it is ideal and resources for sales strategies, especially when you don’t have a big marketing budget.

Step 1: You need to be clear about why you need business networking

Ask yourself the following eight questions because it helps in establishing the objective for networking. Rank the motives starting with the most important and ending with the least important.

What are you looking to achieve through networking?
– Is it earning contacts or customers?
– Is it strengthening and deepening your relationship with existing clients?
– Is it earning support from an external institution which can be a financial sponsor, a trade union, or a mentor?
– Is it opening opportunities for career growth?
– Is it improving public relations?
– Is it building an effective sales team?
– Is it about gathering market intelligence in a given industry so you will be able to predict the purchasing power of your potential customers?
– Is it fortifying relationships with coworkers and inspiring the team?

Step 2: Establishing Key Performance Indicators

One assumption you have to make when it comes to business networking is believing that every person you meet is going to add some value to your business. You should safely store contacts for interesting leads because you might need them in the future. The number of contact networks you need is determined by the scope of work of your networking efforts. When you take the time to know more about your customers, you will have a good understanding of their purchasing behaviour. You can do that by following the nature of the content or the merchants they are following on social media. Another strategy is attending events that your potential clients attend.

You can increase the number of introducers when you exploit contacts and connections. Establishing rapport and building strong relations with the sales staff, and the goal is to connect with at least 5 personnel. Let’s say you are looking to expand your market intelligence in a given industry so you can learn more about the purchasing patterns of prospective customers. The following is a sample action plan:

– Seeking feedback and review of your products and services from 10 clients who regularly purchase them.
– Seeking suggestions on how you can improve the product or service delivery from 10 clients who regularly purchase your products.
– Contacting your existing suppliers, at least 5.
– Studying the new products in the market. Choose at least five potential suppliers. You get the chance of understanding demand and the competitive edge of those products.
– Researching your competitors and understanding their pricing, whether they have discounts, and how they market their products. It also involves learning where they source their customers.

Step 3: Ascertaining Your Contacts

Have a list of existing clients because they are a great source of customer referral

Have a list of introducers to potential suppliers, accountants, employees, and non-executive directors.

Making a list where you have potential organisations that you can join to get data, reviews, and feedback on your products.

Creating a list of people and companies you are looking to network with. Try to find more about events they attend. It is also a good idea to recommend other events that you think add value to them or you.

The above is a basic networking strategy that is going to help you achieve your goals.

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