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UNIQ Online Marketing Programme 2

Lesson 1, Module 1Effective Marketing Through Networking

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The number of business networking groups is constantly growing…

One could network day and night if they truly wanted to!

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• You are face-to-face with potential customers

• You can promote your services and products

• You receive direct feedback

• You can increase your company brand awareness and

personal brand

Networking is an excellent form of marketing because…

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Networking can be a complete waste of time if it is not done properly.

In this lesson you will learn: -

• What is networking?• The importance of networking as a

small business• The first steps in planning your

networking strategy• How to choose the right networking

group for you

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What is Networking?

Traditional business networking is when a group of business owners meet up to refer and do business together.

There are a variety of formats you can choose from and generally there is a group available that will suit each person and type of business.

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What is Networking?

Networking is the most effective form of relationship marketing.

More mature and established companies mostly attend social and informal networking, whereas small and micro companies are more likely to join formal,

business-focused events.

You can repeatedly meet other business owners, establish a working

relationship, build credibility, and gain trust.

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The Importance of Networking as a Small Businesses

People truly buy from people

Networking is a very effective and quick way to receive

business or referrals.

There are many benefits to marketing, but one of the most

significant ones is the unparalleled support and help from fellow business owners.

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The Importance of Networking as a Small Businesses

Running your own business can be a very lonely process,

especially if you do not have staff or a business partner.

It is a great place to bounce ideas, receive advice and speak

to people with a similar, undying passion for running

their own business.

Networking can act as the lifeblood and support for many small business owners who would have otherwise chosen to close shop.

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The First Steps in Planning Your Networking Strategy

Planning ensures you are not missing promotional opportunities and it will

prevent you from attending the wrong groups.

Networking can be very expensive if you do a lot of it, so you must ensure

your networking is in front of your most profitable target market and there are opportunities for getting

new contacts and business.

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The First Steps in Planning Your Networking Strategy

The first thing you must do is plan your aims, objectives, goals and measurements of success.

It is likely that your overall aim for this strategy will fall into one of the following categories: -

• Win new sales• Source and join up with a potential marketing

partner• Increase your brand awareness• Get feedback or advice on your business, products

or services• Meet fellow business owners in the community

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The First Steps in Planning Your Networking Strategy

Your objectives might include: -

• Increase the number of contacts in your database• Connect with people through social media so you can market to

them on an on going basis• Increase your own personal brand awareness• Source new suppliers• Utilise networking members for training and support purposes• Use additional platforms and marketing activities offered by the

group (e.g. online advert, sponsorship)• Enter a new market or network of people with whom you

currently do not have contact

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Personal Goals

What are some personal goals you want to set for your networking?

Do you want to be the resident expert in your field?

Book presentations for the group?

Write articles for the group?

Become a group leader or chairperson?

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Measurements

You need a set of measurements to ensure you are getting a good return on your investment.

For example: -

• Number of clients won or sales made• Number of referrals received from networking contacts• Number of newsletter sign-ups• Increase in the number of database contacts• Social media activity related to networking groups and

contacts• Number of visits networking contacts made to company

website

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How to Choose the Right Networking Group for You

Make sure your aims and objectives line up with the networking groups you choose to visit.

Do they represent your target customer group? Do they give you the best opportunity to stand in front of potential customers?

Do not join a group simply because you like the people, especially if you are attending for the sake of sales!

Visit a group first to get an idea bout the quality and type of members they have.

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How to Choose the Right Networking Group for You

Many formal networking groups charge a membership fee. If your group does, you need to

know how many sales (and the price of those sales) you need to break even and then make a

profit.

Find out which other marketing benefits the networking groups offers and ask if you can contribute

ideas for new activities.

It is important you like the people in the group because it is difficult to establish a good relationship with

someone you cannot stand, but remember - they need to also produce sales!

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Summary

To be good at networking you must put the effort in and give back as much as you take.

Networking is about establishing and developing a relationship.

Keep a balance and implement other marketing activities, too.

Always remember to measure the results you get from networking and ensure you are making a good return on your investment.

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TOP TIP!

Free networking groups that only require purchasing a cup of coffee generally attract businesses with low disposable income. If you are offering a more up-market, costly service, it is unlikely you will meet your golden customers at these groups.

In the next lesson, I will tell you how to choose the right

networking event for your business and how to identify those hidden marketing opportunities in four

easy steps.

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For help and support with Module 1, Lesson 1, contact me, Ruth McKay:

Email: ruth@souniq.co.uk Tweet: @UNIQ_Academy

LinkedIn: UNIQ Discussion Group

We’d really like to know what you think of this lesson so please spare us two minutes to answer 5 short questions and tell us what you really think.