The importance of networking

By Sotirios C Ikonomou

The Importance of Networking - Back to Basics 

Networking is the act of building connections with the broader external community of the hotel, especially with the luxury community, to drive business. In today's fast-paced and competitive business world, networking has become more critical than ever before. It is an essential tool for success, especially in the hospitality industry.

 As a business-savvy person, I understand the significance of networking to promote the brand and hotel. Networking allows us to connect with potential guests, build relationships with suppliers and vendors, and collaborate with other luxury players in the market to expand our reach. It is not just about attending social events but also about proactively speaking up for the brand and hotel itself, especially to external stakeholders.

 

Networking is crucial in connecting with the future of luxury travellers, i.e., millennials, for whom travel experiences revolve around social media and online presence. It is essential to be present on social media and connect well with luxury media to leverage the opportunities to move forward. By doing so, we can attract more guests to our hotel and build a positive reputation in the industry.

 

Another aspect of networking that is often overlooked is connecting with luxury consortia. Being locally and regionally connected to suppliers, agents, and third-party vendors and associating with other luxury players in the market can help us work with them to promote our brand in different ways and expand to broader markets. This is crucial for a luxury hotel like ours to remain competitive in the industry.

 It is our duty to connect with business chambers, associations, governments, high-end customers, and partnerships locally and internationally. This includes top hotel and tourism universities, promoting our employer and attracting young talents to join our team.

However, networking is not just about collecting business cards and adding contacts to your database. It is about building meaningful relationships that can help you achieve your goals.

The first step to successful networking is understanding the different types of networks.

The first category is the strategic business development network, which includes people who can help you grow your business and expand your market share. These could be individuals with expertise in marketing, sales, or finance.

The second category is the operational network, which comprises individuals within your organization who can help you run your hotel smoothly. These could be your department managers, staff, or even your suppliers.

The third category is the personal development network, which consists of mentors, coaches, and others who can help you grow as a person and manager.

Once you have identified the different types of networks, the next step is to build and maintain them.

Networking requires effort, and it is not a one-time event. You must engage with your contacts actively, provide support, and offer your help whenever possible. This helps to build trust and establish a mutually beneficial relationship.

 One common mistake many people make when networking is asking for help too soon after the introduction. This can be perceived as exploitative and lead to partial isolation from the network.

Establishing a relationship first and providing value to the other person before asking for help is essential.

Another common mistake is to demand too much work from your network. Remember that networking is a two-way street, and you need to offer as much as you expect to receive. It is essential to balance giving and taking.

Networking becomes even more critical when venturing into a new market or taking up a new role. It allows you to tap into the knowledge and experience of others and gain valuable insights into the industry. By building a robust network, you can connect with other hoteliers and industry leaders who can help you navigate the new market and overcome the challenges that come with it.

Networking is essential for every hotelier, particularly senior managers starting from scratch in a new market. By dividing your network into strategic business development, operational, and personal development networks and maintaining contact with your connections, you build trust, gain knowledge and experience, and increase the chances of success in your business. 

Remember that networking is about collecting contacts and building meaningful relationships to help you achieve your goals.


 #marketing  #hoteliers #work #networking #opportunities #connections

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