I held our first Virtual Speed Networking in West & South-Central Texas today and it reminded me of the many wonderful people and businesses that are a part of my community. 

Each and every day, my members share opportunities for new business with each other. Which meant that together they passed over $11,000,000 in referral business to each other in 2020. The exciting part?  75% of it was created networking online.

It’s a community of like-minded business professionals believing in something more than just themselves. It’s Givers GainⒸ.

Let’s look at some of the benefits from having a community for your business:

Build Strong Relationships

What makes people feel close to the businesses they like? Well, we naturally want to engage with businesses we love. If you create a community, you give your audience a place to do that. 

This can be their venue for celebrating your business and learning about your products. They can get answers to their questions and solve problems. It creates a solid relationship and your brand becomes a part of their lives. 

Save Money on Lead Generation

It costs a great deal to carry out marketing campaigns to attract new customers. It’s much easier and more cost-effective to retain existing customers than to get new ones. 

By creating your community, you’ll give your customers a place to interact and get their needs met. Then, when their needs are fulfilled, they’ll buy from you again and again. This is a great low-cost method for retaining customers and you’ll see results in your sales.    

High-Value Content

Through your community, you should share high-value content with your audience. This is essential for keeping them engaged. Studies also show that content is a major factor in purchase decisions, so this will also result in more sales. 

The content you share will educate, inform, and entertain, giving you the chance to show your expertise in your field. Through your community, you can create branded content that’s perfectly suited to your customers’ needs.

Personal Connection

People can and will interact with you personally, which is a benefit for any business. People crave this type of interaction, especially in an increasingly anonymous digital world. 

You’ll be there with your community, facilitating conversations and replying to comments. You can follow up with questions asked, and be a helpful resource. It’ll put a human face on your business. 

Feedback from Customers

Since you’re interacting with your customers regularly and personally, you’ll get all kinds of useful feedback from them. This will help you offer the exact products and services that they’re looking for. These valuable insights about your audience will help make all your marketing activities more effective. 

Word-of-Mouth Referrals

This is one of the most important benefits of building your community of followers.

Keeping customers is very important. Learning about your customers is critical to future success. Building a community of referral partners that you give referrals to and get referrals from creates the best opportunities for you to grow your business.

Your community should naturally send you potential new customers through referrals. The biggest key to your success comes through teaching your referral partners the best referrals for you. This allows you to scale your business through your community.

Your customers will naturally get you some referrals. People will love the experience of interacting with your business directly and tell others about it. You could also incentivize referrals and identify your main advocates so that this happens more often. You’ll gain more exposure and multiply your marketing efforts tenfold. 

For the biggest return on investment, focus on building a team of referral partners. 

Ready to start building a referral partner community like this around your business? 

I’m offering a free strategy call for businesses in West & South-Central Texas to see if we can work together to build your referral partner community with BNI online.

If you’re not in my BNI region (check out the map here), send me an email at steve@bnitx.com and I’ll get you connected with someone that can help you.