Welcome to the topic “Creative Networking Strategies for Business Success”
Traditional networking events with big gatherings, tons of handshakes, name tags, and an endless exchange of business cards have long been considered the pinnacle of professional growth. However, while these events are a great ice-breaker, they often fall short when it comes to delivering real value to attendees.
In fact, a study by ResearchGate suggests that while 67% of transactions are driven by networking, many professionals walk away from these events with nothing more than surface-level conversations, loads of business cards, and empty promises that never lead to follow ups.
So instead of being the pinnacle of business success, these events often end up being a waste of time, energy, and resources. In any business, you have to build trust by forging meaningful relationships and offer solutions that are targeted to the needs of business owners.
This can only happen when the right connections are made and when enough time is spent building up the relationship and trust. In this article, we’ll discuss why traditional networking events often fall short of delivering the needed value to grow business, and we’ll explore better strategies on how to grow strong networks that effectively support business objectives.
The Problem with Traditional Networking Events
Historically, networking has been considered as a pillar for professional success. In fact, about half to upwards of 80% of the overall jobs are filled via networking.
However, the issue remains that networking often doesn’t give the desired results. Regardless of how many view the idea of networking, it often involves the blending of different professionals with vastly different goals.
This creates a disjointed experience where everyone is focused on their own agenda, be it signing new clients, creating an awareness campaign for their brand, or connecting with others who can offer a matched or better value to their business.
This mismatch of views and goals often results in wasted time and missed opportunities for business owners. So instead of spending hours at another event that yields minimal results, business owners can employ more targeted and effective strategies to build genuine connections.
Rethinking Networking — Strategies That Actually Work
To be more strategic about networking efforts, we’ll examine three powerful alternatives to traditional networking events that can help build meaningful relationships and ultimately add more value to businesses and clients.
1.Hosting Your Own Events
When hosting your own events, you have control over the guest list, the environment, and the outcome. This is a game-changer for any professional looking to establish deeper connections with clients and prospects.
Creating your own events around a new idea or activity that your connections will genuinely enjoy is the best way to host a successful event.
Many professional meetings or events are held outside the office premises for two major reasons:
a) to break-free from the stressed workplace environments and
b) to entice new prospects by giving them a good enjoyable moment.
An event management organization even reported that around 64% of event attendees feel more positively about the host’s brand after attending a well-organized event.
2. Leverage “Double Dating” for Mutual Business Growth
Double Dating in the business world means asking your client to bring another good prospect for your business along with them. Likewise, you can bring another prospect along, too. When inviting your clients make sure to ask them to bring someone along who might be interested in your specific event or activities.
Remember that this event is not about making a sales pitch. It’s about strengthening the existing and possible new relationships. Many businesses report that even though they never try to sell their firm on these occasions, at least half of these clients’ guests contact them later to learn more about it.
Even if you don’t wind up with a single new client, your present clients will have had a good time, met new connections, and shared their great experience with their guest – it’s still an overall win for you, your client, and their guest.
3. Reconnect with Dormant Ties to Revitalize Your Network
Dormant ties are individuals you’ve worked with or connected with in the past but haven’t stayed in touch with. These relationships often hold untapped potential because, unlike complete strangers, you already share a history with these individuals.
According to a study published in Organizational Science, reconnecting with dormant ties can be more valuable than reaching out to new contacts. This is because dormant ties provide access to fresh perspectives and networks you haven’t encountered in your immediate circle.
How to Reconnect?
- Use LinkedIn to search for former colleagues, clients, or classmates you’ve lost touch with. Similarly, review your CRM database for contacts you haven’t engaged with recently.
- Send a thoughtful message referencing a shared experience or milestone. For example: “Hi [Name], I was just thinking about our project on [specific topic] and realized it’s been ages since we caught up. How have you been?”
- Another great way is instead of asking for something upfront, share an article, insight, or opportunity that might interest them. Remember givers, gain.
How These Strategies Empower Business Owners
Undoubtedly the success of any business lies in its ability to connect with different business owners or industry professionals.
The alternative strategies listed in this article have proven to be more effective and successful at adding real value to businesses because they’re intentional and not just another formality.
These strategies help you,
- Focus on your business – hosting tailor-made events to reconnect with your dormant ties can help strengthen your existing relationships and build new ones.
- Build trust among other clientele or business partners – offering genuine value to your partners and positioning yourself as a trusted advisor rather than just another professional in the market.
- Make the most of your time – allowing you to effectively invest your time in events or activities that can yield you higher-quality connections and opportunities.
The Takeaway
Networking is essential, but not all networking is created equal. As a service professional, business owner, entrepreneur, or connector, you have the unique opportunity to build relationships that create real business outcomes for you and your clients.
The next time you’re tempted to attend another traditional networking event, ask yourself: Is this the best use of my time? Or could you be focusing on strategies that truly make a difference?
By being intentional about how you network, you’ll not only grow your business but also help the business owners you work with achieve their goals.
Also read: 2024 Return-to-Office Trend Update: Looking forward to 2025 and Beyond
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