Using Business Networking As a Marketing Tool

[M.M. Hasan Parvez]

When in business, it pays to network. This is an often understated practice, even though anyone who has ever written advice on how to run a business has mentioned it at least once. It is hard to say that people advocating entrepreneurial networking are lacking. What may be considered lacking, however, would be the ones that describe the various ways that someone can take advantage of the opportunities that such things present. After all, a convention or conference is also a great place to make the business? existence and unique propositions known. It is simply a matter of knowing how to spread the word.

Keep in mind that marketing one?s business during a conference or convention is similar to setting up an account on dating websites. This means there is a certain degree of shamelessness involved to go alongside the blatant self-promotion. One can?t really become bogged down by a lack of confidence, since they?re speaking for their business in such an environment. A clear lack of confidence can be read as a weakness in the product or service on offer, which will make other businessmen avoid any partnerships or deals. This can be detrimental, as cooperative ventures are useful in keeping businesses afloat ? something that a company needs early on, when it is at its most vulnerable.

Like an account on dating websites, a business has to balance being honest about itself and presenting the best possible image. How to balance this out can vary between companies, but any act of misrepresentation is going to become a negative mark upon the business and a sign that its peers are better off not getting involved with it. However, being too forthcoming about weaknesses ? or worse, putting emphasis on them ? is going to also have repercussions that the business does not want to have to deal with. The key here is to figure out a way to use the strengths and capabilities of the business to undercut the potential risks that its weaknesses represent.

Finally, there is the necessary tactic of adapting the spiel to the audience. Never push a company?s products to another business in the same way one might sell them to a customer. A business proprietor is looking for different things in a supplier or partner than a customer would, so the sales pitch should be altered accordingly. Failure to do so will result in a weak presentation and, in some cases, might be interpreted as an insult.