Networking: why bother?

Networking: why bother?

Business research shows the real benefits of networking, and why should we be investing in developing our referral skills ahead of other forms of advertising.

We typically trust word of mouth referrals more than any other source.

Traditional channels continue to be trusted more than “on-line” channels.

Word of mouth business referrals typically result in:

·         Higher order conversion rates on web sites (up to 75% higher)

·         Greater likelihood of repeat business (up to 37% higher)

·         Greater customer lifetime value (up to twice the value).

The table below compares the extent we trust referrals by “word of mouth” with other forms of “advertising”.

 

Traditional

 

On-line

Referral - word of mouth

84%

 

 

On-line: consumer opinions

 

 

68%

Editorial content - newspaper

67%

 

 

Ads on the TV

62%

 

 

Ads in magazines & newspapers

60%

 

 

Ads on-line from search engine results

 

 

48%

Ads on-line video

 

 

48%

Ads in Social networks

 

 

48%

Ads  on-line banners

 

 

42%

Ads linked to texts

 

 

37%


Source:
The Nielsen Company 2013.  % scores relate to completely trust and somewhat trust scores – global averages. 

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Social Media: what they are and how to use them

Social media : What they are, and how you can use them

Facebook: Facebook is a popular free social networking website that allows registered users to create profiles, upload photos and video, send messages and keep in touch with friends, family and colleagues. Allows you to build communities and brand pages to consolidate your content and share it with your own community/fans as well as groups.

Google Plus: Authorship, rather than backlinks, is a big part of Google’s search engine now. Google+ brings popular social-media features like comments, photo- and music-sharing, video-chat, etc. to your social circles. It's basically what any user chooses it to be, from an ongoing conversation to a platform of self-expression, with tools for making it as individual or collective as you want. Google Plus participation builds up your Authority Ranking which, in SEO, is now more valuable than Page Rank.

Instagram: Is a fun and quirky way to share your life with friends through a series of pictures.  As a picture sharing platform, instagram can allow you to share the experience of events and moments with a large audience.

LinkedIn: A business-oriented networking service.  Allows you to communicate your professional accomplishments, and write articles as a ‘subject matter expert’ in a professional community.

Pinterest:  A web and mobile application that offers a visual discovery, collection, sharing, and storage tool. Users create and share the collections of visual bookmarks (boards). Boards are created through a user selecting an item, page, website, etc. and pinning it to an existing or newly created board. Pinterest Boards are a great platform for sharing visual content like branded inspiration Meme’s, mood boards and infographics.

SlideShare: A Web based slide hosting service, a presentation platform for sharing portfolios, whitepapers, slideshows and infographics that demonstrate your knowledge or skills.  Users can upload files privately or publicly. 

Twitter: Twitter is an online social networking service that enables users to send and read short 140-character messages called "tweets". Registered users can read and post tweets, but unregistered users can only read them.  It provides the opportunity to share multimedia content and engage in one to many, or many to many, micro-conversations.

YouTube:  A video distribution platform for original content creators and advertisers large and small. The opportunity to discover, watch and share videos.  To create your visual presence and personality with large audiences.

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