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There may not be a better way to build your business than to get out there, shake some hands, and get to know people through networking. It requires a time commitment and may take awhile to provide gratification, but a strong network is one of the greatest assets any business owner can have.

The definition of networking and how it can help you

Simply stated, networking is an invaluable tool anyone in the business world can utilize, and it can be extremely affordable.

Networking is defined as an occurrence when there is a planned event or gathering with the primary goal of connecting with others. The purpose of networking can vary based on someone’s own agenda, but the primary purpose is to meet people and have people meet you. It provides an opportunity to market yourself and your business in a relaxed, social setting which often proves to be comfortable for everyone.

There are various networking groups in most areas made up of business owners who support each other. They use each other’s services, provide hot leads, and give warm referrals while serving as a solid support group for each other.

For a new owner or marketer, usually the most productive starting point would be to contact a local chamber of commerce or other organization that suits your type of business. Most chambers and organizations have membership dues, so to make sure the group is right for you before you join and pay dues, it is usually acceptable to visit the group first as a guest for free. Doing this at no cost will allow you to get to know the people, get the feel of the group, and make sure it is right for you before you join.

Networking while understanding the lifetime value of a customer

The lifetime value of a customer is defined by how much revenue a customer might bring to your business throughout their entire relationship with you and your company.

The ideal customer relationship includes much more than one buying experience. It consists of multiple happy experiences that tie a customer to a specific brand. The brand becomes their regular go-to for purchasing a specific product or service, and both parties feel somewhat loyal to each other. Members of networking groups experience this often.

By analyzing each customer interaction beyond a customer’s first purchase, it enables owners and marketers to better understand those who buy from them.

To maintain a thriving business, owners and marketers should think past the basics of making one-time sales and focus on the lifetime value of a customer. The knowledge gained from analyzing the customer’s journey over an extended period, beyond what they purchase the first time, can be powerful when making future business decisions.

As an owner or marketer who is tasked with producing ROI, it helps to know which customers have the potential to provide the highest ROI over long periods of time. On top of that, owners and marketers never know who someone may introduce to a company to provide future revenue. Thus, it only makes sense to look at every interaction as a potential gold mine and treat people accordingly.

Use MediaFast video brochures while networking

Once you’ve determined potential customers you would like to target and ways to retain your current ones, MediaFast video brochures can help you engage and impress them.

In the digital age we live in, MediaFast video brochures will help your company stand out above competitors and provide other advantages as you focus on building your clientele. While targeting your most likely customers or to make you and your business more memorable to others, using video brochures is a great technique.

Studies indicate most people prefer watching videos to reading, and videos grab attention and engage more senses. They’re also amusing, time-saving, and more effective than motionless words or images at creating brand recognition and building relationships.

Get your video brochures from MediaFast

Contact us if you are interested in using video brochures for selling products or services, increasing exposure, raising awareness, sharing testimonials, fundraising, training, motivating, recruiting, teaching, or branding. We’ve helped many companies succeed with video brochures, and we can help your company as well.