The Value of Networking.

14th November 2013

As everyone knows, you should test and measure your marketing. In other words before you spend large amounts on your marketing campaign, ideally you should do a test or a pilot run wherever possible, so you can get an idea of whether it is likely to bring a decent return on investment.

Furthermore, you should be using a number of different strategies every month, both passive and active, so that if some of your marketing doesn’t work, at least some will, and you will constantly be generating new leads.

One marketing tool which is not quite so clear cut however is networking. I do a fair amount of networking, not as much as the social networkers, but enough to get a good feel for all the different groups which are in and around my area. Some of them are full of energy and vibrant, some are very structured, some are interesting in one way or another, and some are a waste of time. However, in all cases it is often very difficult to judge if you are actually getting a return on investment, after all, it can take a long time to build a trusting relationship with your fellow networkers, so it may be a while before you start to get referrals. But, just because you don’t get direct business from networking, it should not necessarily be a strategy which you drop.

The thing is there are a lot of other things (intangibles) which you can derive from networking, which may be hard to put a value to. The energy you get from a vibrant group, can be enough to give to give you a boost for a day or two, which in turn can help you to convert new leads to become clients. You can learn new and interesting facts, it can make you keep to your commitments, and even make you feel uncomfortable, which in turn is often a sign of self development.

So before you dismiss networking as an expensive waste of time, or general socialising, think carefully about what you can get out of it. After all, you never know who you might meet next.

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