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Must-Have Marketing Mix Elements: Networking

Previously, I wrote about the importance of having a marketing mix and determining your top 3 effective marketing tactics to focus on. Today I want to expand on one of my favorites–networking.

First, it's important to really understand what business networking is. A good definition would be "the process or practice of building up or maintaining informal relationships, especially with people whose friendship could bring advantages such as job or business opportunities."

I believe the key idea here is "building/maintaining relationships." Yet this is where so many people go wrong with networking–they go into it first with the attitude of "getting."

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The Importance of a Marketing Mix

What is a "marketing mix" and why is it important to have one? Have you heard that saying, "Don't put all your eggs in one basket?" The same reasoning goes for having a variety of ways that you market your business. Relying on only one or two methods is most likely a recipe for disaster.

Although you may have heard about a business that survives solely on one way of getting new customers (such as referrals/word of mouth), this is a rarity and not something you want to initally pin your business success on.  

Having several sources of marketing will better protect you from your pipeline of prospects drying up. Yet, having too many sources can spread you too thin, creating extra stress or diluting your effectiveness.

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