Who Can Benefit from Industrial Referral Groups?
In competitive marketplaces, businesses must broaden their customer base to grow. Clients may suggest a company to others after a satisfactory job, but it’s hard to control how often that happens and from whom it originates.
That’s why it’s beneficial for industrial sector product and service providers to join referral groups. Whether you supply raw materials, offer value-added inspections, or manufacture products, joining a group of like-minded professionals takes your business networking to the next level.
At Factur, we specialize in helping companies in the industrial space find customers and boost revenue. Our team strongly believes that market-specific referral groups provide immense value. Here’s a breakdown of an industrial networking group, its benefits, and how to join.
An industrial referral group is a networking organization comprised of professionals working in the same sector but not necessarily the same field. They’re far more likely to understand what group members do and who can benefit from their offerings.
An industry network group isn’t a mishmash of unrelated businesses that may never utilize partners’ products or services. While these broader meet-ups allow people to converse, they aren’t the best use of everyone’s time.
In Industry-specific referral groups, members are dedicated and attend meetings regularly. This develops trusting, professional business relationships that generate quality leads and referrals.
Benefits of Industrial Referral Groups
A successful industrial referral group offers more than just meet-and-greet events. Typical advantages include:
Because groups have regularly scheduled meetings, they’re significant commitments. As a result, only serious businesses are in the group.
An industrial referral group typically restricts membership to one person from each specialty. This prevents members from competing against each other for business. Normally, a group doesn’t have more than one contract manufacturer, material supplier, or inspection company.
Referral group meetings typically occur in person. In these settings, members connect. This improves communication, boosts knowledge about partner capabilities, and builds stronger relationships.
Pays For Itself
Like many business strategies, an industrial networking group comes with a cost. Fortunately, membership fees don’t compare to the return on investment. Other professionals recommend your business, which reduces your marketing budget dramatically. Additionally, they reduce or eliminate cold-calling, door-to-door tactics, and costly advertising campaigns.
A successful industrial-tailored referral group does wonders for members. It means more business and less overhead.
How do you find industrial referral groups?
Factur has developed a wide array of curated referral groups designed to help companies operating in the industrial sector find new customers quickly and efficiently. This is accomplished by bringing together salespeople from non-competing businesses.
We give members a simple process to follow, which helps develop long-term partners. Here’s a list of who’s a good fit for our industrial referral groups.
-Printed Circuit Board Assembly, or PCBA
-Lube & Oil
-Maintenance & Repair
-Staffing & Labor
At our referral groups, members have face-to-face gatherings and one-on-one meetings. These help develop business relationships, increasing the likelihood of giving and getting referrals.
For growing companies, effective networking is the fast track to success. Attract more customers to your business with Factur’s industrial referral groups.
Contact us to learn more about industrial networking groups.