Why Focused Business Networking is Vital in Some Industriessubmitted on 11 May 2015
One of the best ways to grow a business is in networking with other related industries. However, there are some industries that are so specific that focused business networking is of extreme importance. For example, a company engineering antibodies for vaccines wouldn’t do well networking with a shoe manufacturer and in the same way, a shoe manufacturer might not need to network with pet groomers. Of course, it always helps to establish a following on social networks for the sake of visibility, but when it comes to getting leads to increase your bottom line, a focused B2B approach is always best. Here’s why.
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Ability to Share Industry Innovations
The more specialized an industry is, the more important innovations become. With a broad market, there are millions (maybe billions if you take China into account!) of people working on that type of technology. However, the more refined your niche becomes within a market, the more difficult it becomes to share the latest innovations simply because there are fewer of you out there to share them. You aren’t likely to find those involved with vaccines mentioned above in the food and beverage industry so to network with Chili’s is plain silly, unless of course you are simply looking to increase your visibility through the numbers game.
Highly Specialized Customer Base
When it comes to sharing industry information and getting leads, the best way to do that in a highly specialized field is to join a B2B network in your market. It is even more beneficial if you can find networks within your specific niche, but if that isn’t doable, at least join a network that is very closely related. Not only are you looking for industry innovations but you can increase your customer base by sharing leads. For example, that shoe manufacturer spoken of earlier may join a clothing manufacturer’s network and share leads to clients that sell other articles of clothing as well as shoes. The clothing manufacturer may offer up some leads the shoe company and both can prosper in the long run.
Sharing Ways to Overcome Obstacles
One of the best resources you will find when it comes to looking for ways to overcome obstacles is through networking with others in a closely related industry. Perhaps those obstacles are ways to work around lack of materials or perhaps they are in terms of finding financing for your next big project. Some problems you may be facing as a biochemist may not be the same types of obstacles a mechanical engineer would need to face.
Networking within your industry is helpful on so many levels that it is a wonder why more businesses aren’t taking advantage of the wealth of information out there. It may be harder to network if you are in a highly specialized field, but options are out there. If you are looking to broaden your customer base and share new technology, the best way to accomplish that is through networking. Once you hit upon a network you are ‘at home’ with, just watch how your business grows. It’s amazing.
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