Join Networking Groups or Word of Mouth Informally?

[leeleerambles]

I have 2 good friends with different businesses. One is an accountant, one is an internet marketing guy. One of them does a ton of "official" networking. Trade shows, lead referral clubs, etc etc. The other does NONE of that. But has a ton of word of mouth referrals. We do a little bit of both. Curious, what do other people in OUR industry do? Only word of mouth or lots of formal networking groups and meetings?

 

[Larry Tew]

Do a search on "BNI". I remember a few threads on it. I still believe Wayne Cotton's philosophy... a handful of on-profile personal introductions (referrals w/ some form of endorsement) is better than somoenes address book or facebook friend list.

 

[Bob_The_Insurance_Guy]

My guess is - and I could be mistaken - that the CPA is going to the networking groups, and the internet marketing guy is working the word of mouth. Here's why:

Accountants never need to cold call, the busines comes to them. They simply need to show up, let people know who their target market is, and sit back and let the referrals flow in. Unlike insurance, the average Joe sees a CPA as someone who can save them money, and get an immediate benefit from working with them (lower tax base, loophole, etc.)

The internet marketing guy is a different animal. Like us, his kind is a dime a dozen, and networking groups have a waiting list of these folks waiting to get a seat at the table. He has to be proactive to let people know how he is different, and what he can bring to the table.

Also, like shopping for insurance, people believe they can do internet marketing and website development on their own. They can google it, buy a book on Amazon dot com, etc. People don't feel as comfortable doing their own taxes.

Now, to answer your question. Staying away from BNI and PowerCore, I network with independent groups, book myself as a speaker to any group that wants to listen, and work heavily with Financial Planners, who want nothing to do with Life, DI or LTC insurance.

 

[leeleerambles]

My guess is - and I could be mistaken - that the CPA is going to the networking groups, and the internet marketing guy is working the word of mouth. Here's why:

Accountants never need to cold call, the busines comes to them. They simply need to show up, let people know who their target market is, and sit back and let the referrals flow in. Unlike insurance, the average Joe sees a CPA as someone who can save them money, and get an immediate benefit from working with them (lower tax base, loophole, etc.)

The internet marketing guy is a different animal. Like us, his kind is a dime a dozen, and networking groups have a waiting list of these folks waiting to get a seat at the table. He has to be proactive to let people know how he is different, and what he can bring to the table.

Also, like shopping for insurance, people believe they can do internet marketing and website development on their own. They can google it, buy a book on Amazon dot com, etc. People don't feel as comfortable doing their own taxes.

Now, to answer your question. Staying away from BNI and PowerCore, I network with independent groups, book myself as a speaker to any group that wants to listen, and work heavily with Financial Planners, who want nothing to do with Life, DI or LTC insurance.

Bob, Funny guess. The CPA actually does zero networking. Only word of mouth from clients. The internet guy is involved in networking groups. He was into BNI for a while, not anymore. Is part of a local chamber of commerce etc. Great points, especially on booking yourself as a speaker, I'm completely with you on it.

 

[Mark]

I think they can do both. It is very easy to promote yourself online these days.