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Networking for Referral Partners, Old Vs. New

May 08, 20233 min read


Introduction:

Networking has been an essential part of business development for centuries. In the past, traditional networking was the primary way of building relationships and finding new clients. However, with the emergence of business platforms like LinkedIn, networking has become more accessible and efficient. In this article, we will compare traditional networking with automated networking on LinkedIn for mortgage loan originators. We will discuss the costs, time investment, and physical work involved in each approach. At the end, we will decide which method is superior in terms of its benefits.

Traditional Networking:

Traditional networking is the process of building relationships with potential clients and business partners through in-person interactions. This can include cold calling for appointments, attending networking events, conferences, and simple coffee/lunch meets. One of the most significant advantages of traditional networking is the ability to develop personal relationships. In-person interactions can help build trust and establish a rapport between the mortgage loan originator and the real estate agent.

Automated Networking on LinkedIn:

Automated networking on LinkedIn involves using the platform's features to build relationships with potential clients and referral partners. LinkedIn is a social media platform that connects professionals and allows them to network with each other. It provides various tools and features that enable users to build relationships and find new clients. You can even use 3rd party tools that start conversations for you with targeted prospects. To learn more visit: www.wamarketingsolutions.com

Comparison of Costs:

When comparing the costs of traditional networking and automated networking on LinkedIn, there is a clear winner.

Traditional networking can be expensive, particularly if it involves travel or purchasing event tickets. At the lowest level, getting in your car to drive somewhere requires gas, and we all know how expensive gas is now. Additionally, traditional advertising methods, such as print ads and billboards, can be costly.

In contrast, automated networking on LinkedIn is cost-effective. The basic features of the platform are free to use, and the paid features are significantly cheaper than traditional advertising methods.

Since mortgage loan originators can quickly connect with potential clients and partners without leaving their home, there is no temptation to buy anything while you're out. Only go out when a qualified agent has messaged you on LinkedIn to meet! Don't waste your time speaking to the wrong people.

Automated networking on LinkedIn also gets you in front of a larger number than traditional networking can do per day so there is no sacrifice on opportunities. Additionally, you can still develop a deep relationship with someone. Just because you haven't met them in person should not slow you down.

Comparison of Time Investment:

Time investment is another critical factor to consider when comparing traditional networking and automated networking on LinkedIn.

Traditional networking can be time-consuming, particularly if it involves attending events or traveling. Additionally, it also requires a considerable amount of time and effort to build relationships, even if you meet someone in person.

Automated networking on LinkedIn is significantly more efficient than traditional networking. The platform's algorithms can help users find potential Realtor partners based on their search criteria, and the messaging features make it easy to initiate contact. Additionally, LinkedIn's content creation tools can help establish a mortgage loan originator's credibility and attract potential clients.

Comparison of Physical Work Involved:

Traditional networking requires physical work, such as attending events, shaking hands, and handing out business cards. Additionally, traditional advertising methods may require physical labor, such as designing and printing flyers or billboards.

In contrast, automated networking on LinkedIn requires minimal physical work. Users can connect with potential clients and partners without leaving their office. LinkedIn's content creation tools allow mortgage loan originators to establish their credibility and attract in our fast pace digital world.

Conclusion:

All in all, Automated LinkedIn networking costs less, requires less time, get you in front of a larger audience and all doing so location-free. If you want to lower your business expenses significantly, just replace traditional networking with automated LinkedIn networking. To learn more, visit www.wamarketingsolutions.com

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Will Anagnos

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