The Power of Networking During an Economic Downturn
March 18, 2008 // Franchising.com // - HENDERSON, Nev – What do smart business owners do in the face of a recession? Savvy entrepreneurs understand that the steady drumbeat of negative news about high unemployment rates, mortgage foreclosures, the fall of the dollar and so on creates real economic anxiety. Therefore smart business owners are changing their marketing tactics to reach consumers who have become more penny-pinching in their purchasing decisions.
For instance, statistics show that referrals are the most cost-efficient marketing method to dramatically increase a company's bottom line. Compared to Yellow Page ads, television commercials or radio announcements, referrals are not only cheaper, but also generate higher-quality leads. Why? Prospects are often "pre-sold" or "pre-qualified" by the referring party, and are more likely to buy, as well as refer other clients. And because referrals come from the cheapest and most effective form of marketing – word of mouth – a business owner's network could be the critical factor that separates winners from losers in this fragile economy.
Members of OneCoach already know this. OneCoach, the leader in business-growth services, has helped thousands of entrepreneurs tap into referral marketing by hosting networking events that help attendees connect with other business owners to build lasting relationships and generate quality leads. These legendary networking events have blossomed over the years, and have become a well-kept secret among highly successful entrepreneurs.
This year, OneCoach brings the Mind, Marketing & Millions® business conference to Lake Las Vegas in June, to help hundreds of entrepreneurs learn how to attract more clients, grow their businesses faster, increase their incomes and build bigger networks to generate more leads. The three-day event will be held at the Loews Las Vegas Resort, where members and non-members will learn business-growth secrets from highly successful CEOs -- and make powerful relationships that could save their businesses during the recession.
"Of all the things I've done in my life, this is by far the best investment I have ever made," said Suzanne Thomas, a OneCoach member and gym owner who attended a previous event in 2007. "Everyone here exceeds expectations – not only the OneCoach staff, but the network and community."
The Mind, Marketing & Millions business conference includes breakout sessions and programs to highlight practical strategies that allow businesses to overcome obstacles. Many clients find enough value in the networking aspect alone, because OneCoach helps them build solid relationships, rather than simply collecting business cards. The atmosphere and energy at the event lends itself to building deeper relationships with other CEOs and nurturing those relationships for mutual benefit.
A highlight of the three-day event is SNAP Networking, where all attendees systematically mingle and approach each other with a "how can I help you achieve your goals?" mindset. This type of focused and organized networking allows attendees to aim for quality relationships, not quantity, which is the key to effective networking. Building credible relationships with others based on mutual benefit and respect develops a level of trust, which is the real catalyst for gaining referrals.
"I enjoyed the event and found that it was very worth my time," said Karan Radcliffe after attending the OneCoach networking event. "Two things that stand out; first, there are so many ideas shared for each business featured, that I knew I would benefit too. Secondly, the networking is set up to ensure that you meet everyone in the room at least for a few seconds, and those few seconds can really make an impact on your business."
Mind, Marketing & Millions Business Conference
Friday-Sunday, June 20-22, 2008
Loews Lake Las Vegas Resort
101 Montelago Boulevard
Henderson, Nevada, 89011