How to Grow Your Small Business Through Networking Events

Networking events offer you brand exposure, potential customers, and the opportunity to meet like-minded professionals.
by
Strategy
October 04 | 4 Minutes

There are many ways you can grow your small business, ranging from reading leadership books to checking out entrepreneurial podcasts. Attending and hosting professional events may be the most effective way to help your business achieve steady growth

Here are five ways you can grow your small business through face-to-face networking events.

1. Find the Right Employees for Your Small Business

About 68% of entry-level professionals value in-person networking more than online interaction. Besides, about 85% of all jobs are filled through networking. What these stats tell us is that events provide you with a golden opportunity to find employees to help fuel your growth.

Whether it’s that prodigious developer you’ve been seeking, an undiscovered rockstar barista, or a graphic designer with a unique aesthetic, networking is perfect for finding the right talent for your biz. Even if you don’t discover a future employee through an event, you might meet someone who links you up with a like-minded candidate. And who knows, maybe this person is the reason why your business grows exponentially.

Networking events

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2. Attend Trade Shows Can Bring in New Customers

An Oxford study discovered that 5% to 20% of a company’s new customers come from attending trade shows. These types of events are ideal for budding businesses, allowing entrepreneurs to share their elevator pitch. Some prospects may be more willing to buy your products and services if they meet you face to face, and hear you illustrate the brand.

Trade shows also offer value because they often focus on a specific industry. This set of circumstances is convenient for all types of small businesses, regardless of whether your brand exists in a niche market or not. Attend trade shows frequently to raise brand awareness, attract new customers, and make a name for yourself.

Brand exposure
The Novo team at Xerocon in June, announcing our integration with accounting software Xero.
3. Forge Business Partnerships to Evolve Your Brand

Linking up with other businesses is a great way to carve your brand identity, and eventually, grow it. An industry event, trade show, or showcase of your products and services can be ideal for building partnerships. The key is to be authentic about what you have to offer, and what you hope to achieve.

Something of value about business partnerships is that they come in all shapes and sizes. Through one of these events, you may find a new distributor, a partner store to sell your products through, or an advertiser. These are all partnership types that could grow your business.

It’s worth noting that up to 70% of these partnerships fail, partly because of a lack of trust. Having face-to-face interactions and clearly stating your goals helps to build and maintain trust with partners. In the long run, this trust is integral to keeping these partnerships in good standing.

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4. Facilitate Introductions to Nurture Goodwill 

We cannot stress enough the value that networking can bring to your business. During a professional event, you can introduce business partners, associates, or customers to each other. Doing so shows you want to help other businesses expand their professional reach. Additionally, it demonstrates you are propelling the growth of the industry.

Making efforts to push this growth forward creates goodwill with the people you’re in business with. This goodwill can deepen current partnerships, lead to future opportunities, and strengthen your brand image. And more than 16% of buyers find brand reputation to be critical when deciding whether or not to be in business with you.

5. Keep Up With Latest Industry Trends and Tools

You can grow your small business through industry symposiums, lectures, or courses. Attending these events helps you refine your skills and expand your toolbox. And once you learn more about your market, you can apply this knowledge and wisdom to your business, propelling its growth.

After all, customer needs and expectations are always changing, while technology is evolving quicker than ever. Because of these changes, every business must keep up with the latest industry trends and insights. By remaining aware of what’s going on in your space, you are more likely to move forward and sustain that growth.

Events Novo Will Attend in October

The Takeaway

Attending events regularly can be a great way to boost your business. Over time, you will develop a network of industry professionals, co-workers, associates, partners, and customers. Building and maintaining this network is essential to the growth of your business, regardless of size or industry.

 

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