Is Networking Still Relevant in 2024?

Maybe networking seems like a waste of time to you, or you are scared to try it.
Perhaps it seems like an outdated idea in the age of social media.

If so, this article might surprise you as we show you just how beneficial networking can be to you and your business.
Once we’ve demonstrated just how important networking is in 2024, we will give you some great ideas on how to get started.

What are the Benefits of Networking for Small Businesses?

These are just some of the benefits to be gained from networking both personally and professionally for you and your business’s revenue and growth.

Creating Brand Awareness

By attending networking events regularly you are making more people aware of you and your brand. You will be able to demonstrate face-to-face that your business values reflect you as a person.

Lead Generation

Meeting people face to face and building relationships is a great way to build trust and trust is one of the biggest factors when it comes to buying a product or service. Networking is more likely to make you top of mind when someone needs your product or service and if other people they know do too. So you get more business via recommendations and referrals.

Building Relationships

Getting to know other businesses in your area or industry networking and building on those relationships can lead to partnerships and referrals as well as support.

Learning from Others

When networking you will get the opportunity to meet others who are further down the track than you, who have maybe gone through similar experiences already and who will be able to share their knowledge with you saving you time, money and stress.

This works both ways too and the feeling when you can help someone else is a huge confidence boost as well. This is especially important if you suffer from imposter syndrome and lack belief in yourself.

Support

Who else faces the same problems, issues, failures and successes as you? Other business owners, that’s who. So being able to share your stories, your wins and your disappointments with a group of people who know and understand can provide much-needed support.

Alleviating loneliness

Running your own business can be lonely, it can feel like no one understands the stresses you are under and doing it all by yourself if you are a solopreneur even more so. So, the opportunity to meet others who share similar issues is good for your mental well-being and if you don’t look after yourself – your business will suffer.

Networking Ideas for Small Businesses

Tradeshows

These industry-specific gatherings are a great way to network. As well as being able to showcase your business and brand you can check out the competition, meet with potential partners and get all the latest news and ideas from your industry. Some businesses report getting between 5 and 20% of their sales from tradeshows.

Local Networking Events

Meeting other business owners in your local community is an excellent way to network. If your business is focused on providing local services as well as the supportive aspect the potential for lead generation and partnerships at these events is enormous. You can find local networking events near you on Eventbrite. If there are no regular networking events in your area you could consider starting one up, using business listings would be a great way to find other local businesses.

Online Communities

Even if attending networking events isn’t logistically possible for you there are online networking opportunities available too. There are lots of options from simply reaching out to others on social media; Linkedin is particularly good for business networking without so much of the noise present on other social media platforms, to joining an online community such as Business Networking International or the Federation of Small Businesses or a group that is more specific to your industry or you as an individual such as The Staff Canteen for chefs or the Mums in Business Association.

Ready for Networking to Boost Your Business?

We hope that this has helped you to see the benefits that you could gain from networking and inspired you to try some of our networking suggestions.