What are referral marketing and networking events?
Business networking events and referral marketing meetings are very similar. Members and guests meet at a set time on the same day every few weeks. Weekly, bi-weekly or monthly events take place depending on the organisation.
Everyone in the room will have the chance to share something beneficial about their business. This ‘elevator pitch’ is perfect for attendees to show how their customers gain value. The format of the meetings will usually include an extended advocate presentation and a contribution section. The latter section will highlight advocate activity, invoiced business and appreciation, so it’s a good way to see how the everyone works together.
Refreshments are available and meetings will last for around 90 minutes to two hours. Some meetings may charge for tea and coffee refreshments or a full meal such as breakfast or lunch.
Participants can enjoy a period of open networking to break off into smaller groups. This relaxed time is an opportunity to ask questions and learn more about each other to understand how and who to help.
Referral marketing meetings tend to have fewer members, but loyalty and community spirit are strong. Networking-specific events have more members, but sometimes the relationships are weaker. Visiting a few events before deciding which will work best for your business is a good strategy to allow you to weigh up the pros and cons.