Networking to Grow Business – Part 2 of 3

In our last segment, we talked about the similarities and differences between online and offline networking groups.  But there are also many differences within each camp.  Facebook is much different than LinkedIn, and neither of these two at all resembles Twitter.  Similarly, offline Local Networking groups can be quite different.  From the cost, the size, the attendees, the industries served, the geographic reach, local grown vs. globally based, local networking groups are extremely diverse.

Differences between Local Networking Groups

• Some networking groups, with a global presence, simply move to an area and start new chapters.  These organizations typically have very specific rules for joining their organization, including a yearly fee, a one-industry-per-chapter rule, and a requirement that you attend every week (with a two week exception every few months).
• Some Chambers of Commerce have a special name for their networking e vents (e.g. “Leads to Success“) and serve food.  Some do not (see Network Gwinnett).
• Other networking groups specifically target individual segments of the population, such as women, African Americans, and other ethnic groups).
• Most Networking groups have moderators who start, run and end the meetings.
  • These folks are usually volunteers and have an additional amount of time to tell others about their businesses
  • One of their more important tasks to is keep a stopwatch so that all attendees keep within the established time limit for talking about their business.
  • Most moderators are responsible for keeping track of how many leads are passed each week, as well as how many closed business sales have occurred over time.
• Sponsorship opportunities abound at nearly all local networking events – although most require membership of some form.
  • Some sponsorships are sold; others are raffled off at the end of the meeting to build  attendance and retention
  • Most networking groups have a weekly “spotlight” on a featured small business, where an individual business will receive 2-10 minutes to show a presentation/video, speak to the audience, hand out samples, etc.
  • Giving away door prizes (generally at the end of the meeting) has become extremely popular, and a great way for a business to have a second opportunity to impress other attending businesses.
• Generally speaking, the more popular a networking group becomes, the more business owners prefer to attend these large networking events
  • They’re able to address more people
  • The fastest growing and most popular are often free
  • The number attending is inversely proportionate to the amount of time one has to explain who they are to the group.  So attendees with 15 seconds to explain their businesses can be easily forgotten until they’ve managed to attend regularly over time.
• Each organization has its own method for making attendees aware of one another
  • Some section off attendees into groups to play team building games that will enable them to remember each other’s business.
  • Most will allow 15-60 seconds to position “your elevator pitch” to the group.
  • Some organizations change the theme every week/month.

So, which type of regular local networking works the best?  The answer is “yes.”

Each of the networking methods mentioned above have found success in building and retaining regular attendees.  The best bet is to find the one that is most comfortable for your style.

In the next edition, we’ll give some helpful tips for beating the learning curve and making the most of networking groups on the first day.