Network marketing can be a powerful tool for contractors in the construction business, as it allows them to expand their reach and increase their customer base.
These are groups like BNI (Business Network International) and other similar network marketing groups.
BNI, for example, is a global organization with over 270,000 members in over 70 countries, which means there is a vast pool of potential clients and referral partners to tap into.
I made a quick video for my Youtube channel that summarizes this research and below is a detailed article.
The leads generated through network marketing groups are usually referrals from other members of the group. This type of referral-based marketing is particularly valuable, as it helps to establish trust and credibility with potential clients.
I have found that this was also simply the best method on the planet to get free quality leads.
Think about it.
These people are presold on your company before you even arrive on site.
These warm leads easily trump Yelp and Google ads leads all day long.
By regularly attending network marketing group meetings and participating in networking events, contractors in the construction business can increase their visibility and brand awareness within the community.
This can lead to more opportunities for lead generation and business growth.
But the facts are that very few contractors utilize this strategy.
Here are some reasons why network marketing can be great and why you may want to start:
Network marketing is based on referral-based marketing, which means that you can tap into the networks of their existing customers and ask for referrals. This can be a powerful way to generate new leads and build a customer base.
It can be a low-cost marketing strategy for contractors, as they can leverage their existing networks and social media platforms to promote their services. This can be especially beneficial for small contractors who may not have the budget for large-scale advertising campaigns.
Network marketing is all about building relationships, and this is something that contractors excel at. By building strong relationships with their existing customers, contractors can generate repeat business and referrals, which can be a powerful source of new leads.
It also allows contractors to target specific demographics or geographic areas, which can be especially beneficial for those who specialize in a particular type of construction or who work in a specific area.
Opportunity to collaborate:
Network marketing also provides you with the opportunity to collaborate with other professionals in the industry, such as architects, engineers, and designers. This can lead to new business opportunities and help contractors build their reputation in the industry.
Here are some tips on how to make the most of your participation in such groups:
1. Attend regularly:
It’s important to attend meetings consistently to build relationships with other members and stay top of mind. This will also give you an opportunity to learn more about other members and their businesses, which can help you identify potential referral opportunities.
2. Build strong relationships:
Take the time to get to know other members and build strong relationships with them. This will make it easier for them to refer business to you and vice versa.
3. Be specific about your target market:
Clearly define your target market and the types of clients you are looking for. This will make it easier for other members to refer business to you when they come across someone who fits your ideal client profile.<
4. Give referrals:
Don’t just focus on getting referrals for yourself. Take the time to get to know other members’ businesses and actively look for opportunities to refer business to them. This will help build stronger relationships and increase the likelihood of getting referrals in return.
5. Follow up:
When you receive a referral or introduction, make sure to follow up promptly and professionally. This will show that you value the referral and increase the likelihood of converting the lead into a client.
6. Participate in leadership:
Consider taking on a leadership role within the group, such as serving on a committee or taking on a leadership position. This will give you additional exposure and opportunities to build relationships with other members.
7. Be patient:
Building relationships and generating leads through networking takes time and effort. Don’t expect immediate results, but stay committed to attending meetings, building relationships, and giving referrals. Over time, this will lead to a steady stream of leads and opportunities for your business.
Overall, network marketing groups like BNI are great for contractors in the construction business to get leads because they offer access to a wide network of potential clients, a targeted audience, referral-based marketing, and increased visibility.
By building relationships with other professionals in the industry and leveraging a referral-based system, contractors can tap into a local business network of potential clients and grow their businesses over time.