Business Networking Membership Fees
Should you charge business networking membership fees as part of your pricing structure? This is the one vital question you need to answer before running business networking events.
Pricing of networking varies widely. You will find events being offered at no cost at all, modest pricing of say $15 /event just to cover the costs of refreshments and groups which charge membership fees ranging from as little as $20/month though to several thousand dollars per year charged for so called ‘elite’ business networking clubs.
Unless you are a sufficiently large organisation using your own monthly budget to host an event to attract clients then you will be likely to be making some charge for your services. Organising networking events, especially if done well, can be time-consuming and therefore you will need to ensure your efforts rewarded accordingly.
Whether you charge a membership fee will be determined on what you are trying to achieve. If you want regular events and want to attract people who are committed to being part of a regular group then membership fees are usually appropriate.
Some advantages of membership fees
- they help to attract and secure commitment from people who want to attend on a regular basis – if they have bought into something then most people will want to get their value for money.
- knowing that others have committed to being fully-paid up members can add to the attraction for others to join
- It gives you an amount of money up front to pay for the associated costs of running a networking business and also reward your efforts.
Many networking organisations don’t operate on a membership basis. Often these are events held less frequently and a higher price charge for each meeting. Your objective may not be to make any money from the events themselves but just build a network of business people who in turn will be useful contacts for your own business. In this case you will just need to ensure the costs of the events are adequately covered and you need to safeguard against the potential costs of people who say they will attend and then don’t. (believe me it happens!).
If you charge business networking membership fees then you need to be able to convince your customers that they will get a good return for their investment which will justify them paying a membership fee?
e.g. exclusivity of sector i.e. once they have joined no one else from their sector may join
The number of meetings included in the price
Guarantee of referrals
Discount off special services
Business networking training
Free networking tips booklet
Free access to online networking site
Reasons To Run A Business Leads Networking Group
Advice For Running Successful Business Networking Events
Planning Your Local Business Networking Event Or Club
Preparation For A Thriving Business Networking Club
Growing Your Business Contacts Networking Group
Further Enhancing A Business To Business Networking Event
Consider Why Not To Run Business Networking Events
More About Running Successful Business Networking Events, Clubs And Groups
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