Human beings are social animals. They cannot live in a void without helping out each other. If you are wondering why any business needs to be a part of a network, then perhaps you already know the answer. It is for the very purpose of helping out each other and developing a healthy business environment that a company owner may think of joining such a network.
You may be spending thousands of rand on advertising and classifieds but those who are reading your ads don’t actually know you. There is no one to vouch for the reliability of your products and services. In a world where even testimonials can be purchased, customers are wary of just another advertisement that appears in the clutter of thousands.
This is the reason why the importance of business networks has grown manifolds. Till date there is no better form of advertising than “word-of-mouth”. Business networks or referral services make effective use of this form of advertising to help companies gain much more in much less than what they would have gained through regular advertising.
Whether you are a first time entrepreneur or an old hand in your area of business, joining a referral network would always be beneficial for your revenue department. Why just talk about the profits? The amount of trustworthiness associated with referrals cannot be purchased with money. Just imagine if you have a reputation of referring only the best products and services to your friends, then every time they need suggestion for buying something, they will definitely contact you first. Well this is how business networks work too. A network that has gained reputation in the market for referring the best businesses would be highly trusted by customers, and hence the profits.
