Using LinkedIn To Market Your Business In A Downturn Economy
As the economy continues to retract, smart entrepreneurs are realising that now is not the time to reduce their marketing activity, but they are looking for innovative, inexpensive and efficient ways to connect to potential customers and referral partners.
We all know from experience that word of mouth marketing where we are referred by others and building relationships through smart networking is one of the most effective ways to attract more business.
However, in today’s digitally connected world, we don’t have to always network face to face. Increasingly business is being done through online networks.
Online networks, sometimes called social networks, are being used by companies who want to undertake research and build the visibility of their business as the ‘go to resource’ in their field. Many people are actually striking deals, finding new clients and strategic joint ventures, through connecting through social networks.
One of the most popular online business networks is LinkedIn.com which now has over 33 million members across the globe.
One business owner I spoke to recently shared their experience of how they are using LinkedIn.com to create connections with businesses here in Ireland to market their services and products:
Step 1 – Having created their professional profile on LinkedIn.com (this is free to do) they started to build their network with people that they already know and work with
Step 2 – They researched who in their contacts in LinkedIn.com might be able to give them an introduction to a company (let’s call them ABC company) they were trying to get an introduction to
Step 3 – They asked their contact for an introduction to the company – as we know a recommendation or warm lead is usually more effective than cold calling
Step 4 – They had a face to face meeting with the person in ABC company and have begun a conversation about working together.
Could this have happened though offline networking? Absolutely. But it might have taken a little longer to find out who in their network was connected to the executive at ABC company.
I am not suggesting that for most of us that online networking is a substitute for face to face meetings, but it is something to be considered when looking to market and build connections with potential customers. And the majority of online networks have a free entry level – so the only investment in marketing your business in this way is time.
If you haven’t considered using online networks as part of your marketing plan, why not take some time this next week, explore which online network might be relevant to your business goals, and spend a little time creating your professional profile and connecting to your network online.
If you found this no cost marketing tip of assistance, why not join me at the forthcoming ‘Tune Up Your Marketing Workshops’ in association with Dublin City Enterprise Board, taking place on 26 February and the 4 March 2009, where you’ll discover more no cost and low cost ways to attract more clients to your business. Booking details to follow....
© Krishna De
About the author: Krishna De (http://www.bizgrowthnews.com) is a marketing and communications strategist and mentor and the author of forthcoming book ‘42 Rules of Marketing in a Recession’. And of course, you’ll also find Krishna networking online at LinkedIn (http://www.linkedin.com/in/krishnade), Facebook (http://www.profie.to/krishnade) and Twitter (http://www.twitter.com/krishnade).