Decades of research prove that networking can be a powerful business driver, connecting businesses to the talent, funding, expertise, and customers they need to succeed. But to deliver those results, businesses need to build those networks authentically. 

In this blog post, expert networker and AR Funding VP Courtney Moore shares her tips for creating a network that generates new business and fosters deeper customer loyalty.

From cold calling to hot-ticket events

Moore didn’t start out as a networking expert. Early on, she relied on cold calling and marketing to prospect for new customers, but the results were often disappointing. 

When she joined AR Funding in 2008, she pivoted to networking as a way to promote the company’s invoice factoring services to new markets. Initially, she relied on business groups such as the TMA (Turnaround Management Association), the ACG (Association for Corporate Growth), and chambers of commerce to make new connections.

She spent the next couple of years honing her networking skills and building her business network through these established channels. The results far exceeded anything she could have accomplished through cold calling, but she soon saw an opportunity to take her networking strategy to the next level.  

“At typical industry events, it seemed as though everyone was trying to sell something, and it just wasn’t my cup of tea,” she explained. It was difficult to make the kinds of genuine connections that lead to long-term, rewarding business opportunities. 

That changed when she decided to create her own hosted events in collaboration with a few trusted colleagues who worked in complementary service areas. The group chose a monthly format that was more intimate, relaxed, and exclusive, and the resulting “Third Thursday” event has become the area’s hottest ticket for entrepreneurs and businesspeople over the years. 

“It’s invite-only, and everyone who attends is cherry-picked,” said Moore. “We end up with a gathering of like-minded individuals who want to help people out and give as much as they get.”

Benefits go beyond new business 

Networking is primarily viewed as a means of prospecting, and it has definitely helped Moore attract new business. But her network also serves another purpose by connecting her existing clients to hundreds of top-notch professionals in areas such as banking, law, bookkeeping, accounting, financing, and business consulting. 

“All last week, I was doing introductions for existing clients,” Moore explained. “One wasn’t happy with their bookkeeper, and I introduced them to a couple of excellent options from my network. Another was having a customer contract issue, and I was able to find them an attorney who specializes in contract law in their region.” A third client needed to secure a bank loan, and Moore was able to recommend a reputable bank that had successfully partnered with other AR Funding clients.

These referrals enable Moore to deliver more value to clients and encourage service providers to reciprocate by referring her to their own clientele. 

Tips for networking success

In the years since she began proactively building her business network, Moore has become a seasoned networking expert. These are her top recommendations for building a robust, authentic network that generates new business, inspires customer loyalty, and raises the profile of your business in key markets.

Ditch the hard sell. “Networking needs to be a two-way conversation, a give and take,” said Moore. “It’s not just a ‘take and take’. I’ve seen that approach before, and it’s a major turn-off.” Once you make that connection, you can learn more about what they do for a living and connect them with people who can be instrumental in helping them achieve their business goals.”

Don’t be too rigid. In Moore’s experience, a laid-back approach works best—one built on connecting, and socializing. Replace the rigid agendas and PowerPoint presentations with casual venues and good food and drink. Keep it fun and loose. And don’t be afraid to experiment. 

“You’re not going to find your perfect niche right away,” Moore said. “You have to try different avenues to see what feels good to you and delivers the results you want to see.”

Be choosy. Moore cautions against inviting everyone you know to a networking event. She prefers to keep meet-ups smaller and limits participation to attendees who have something valuable to offer and are willing to share it generously. 

“Everyone I invite to a ‘Third Thursday’ is a reflection of myself to the folks that attend,” she explained. “I want people to continue to hold me in high regard, so I make sure the people I invite reflect that standard.” 

She also makes sure the participants share similar attributes and experiences, so she limits invitees to small and medium-sized high-growth companies and the service providers who understand and have experience with this company type. 

Go remote. Nothing can replace face-to-face networking, but adding remote networking activities can expand your horizons. Since the pandemic, remote networking has taken off, giving businesses an opportunity to connect without geographic limits. 

Moore recently joined ProVisors, a networking group that connects business owners and experts across the U.S. This and other remote options have enabled her to expand her network beyond Boston and interact with like-minded businesspeople anywhere in the country.

Networking is a triple win

For Moore, networking brings benefits to everyone—the company, the customer, and the person tasked with generating new business. When networking is done right, it will bring in new customers year after year while also enabling the company to build trust and deliver more value to those customers. And it makes doing business more fun for everyone involved.

“You’re not going to do business with somebody that you don’t like,” Moore observed. “I find making friends with folks to be the best course of action in growing your business, and it’s worked tremendously for me.”