Dues Free Networking

The goal of the Chamber of Commerce is to act as a business network to promote local businesses. The Chambers of Commerce in my area all do a very effective job of carrying out that mission. They frequently hold ribbon cutting ceremonies and similar events to promote new or expanded businesses. These events often appear on the front page of local newspapers. They also conduct formal and informal networking events. However, since my book is subtitled 115 Low-cost Ways to Avoid Market Obscurity, I would be remiss if I did not mention that the annual cost for an individual membership would likely be between $150 and $250. Corporate memberships generally start around $250 and can escalate quickly as you grow depending on annual sales, number of employees or other variable factors determined by individual chapters. Furthermore, not all of the cost is tax deductible.

Here are two networking strategies you can implement without incurring dues.

Why not form your own personal networking group? You will eventually deal with many vendors, bankers, insurance agents, accountants, lawyers, suppliers and so on. Evaluate potential vendor’s customer base, and try to select those most similar to your market. Then trade referrals. Make sure they fully understand your business and its marketing objectives. They will also need a generous supply of your business cards and
other appropriate marketing materials.

  • Vendors who serve other customers and clients in your markets can be a great source of general market intelligence. However, do not ask them to compromise their business ethics by revealing confidential competitor information, and be leery of those who do so voluntarily.

A variation of the personal networking group idea is the “Buddy Marketing” strategy. Look for partners with products or services that are complementary to yours, or whose customers use your product or service. An example would be a sporting goods store joining forces with a health club. The store can offer club members special discounts and promotions on sporting goods products. They can also share mailing lists and even include club promotions in their mailings, electronic distributions and on their website. Perhaps the health club would allow the retailer to demonstrate their products in the club’s lobby on occasion.

Have a great Memorial Day weekend, as we remember all those who gave their lives so that we can enjoy the rights and privileges of living in a free society. May God bless all of those who voluntarily wear a uniform, including my son, Eric.

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