Which is better for startups? Both of these venues offer opportunities to connect with other business owners and increase your word-of-mouth marketing, however the return on investment often proves to be very different. The avenue to obtaining new customers is contingent on your field and what is available in your area, but here are a few thoughts to consider about chambers of commerce and trade associations before you invest and join…
Chambers of commerce (COCs) are sometimes revered as a fantastic place for businesses to begin marketing themselves by word-of-mouth. The theory is that a COC is filled with professional individuals, often entrepreneurs like yourself, who are looking to connect and make a sale. However, this theory fails to recognize that most COCs will only prove valuable to those who already have a book of customers to invest back into the chamber’s pool of viable prospects. This pool of prospects costs referring your own customers, which most startups dont already have.
So, should a startup business owner avoid chambers of commerce? No, we believe startups should definitely attend events and interact with members of the chamber. Our advice is not to be compelled to spend thousands to join these associations, only to be disappointed by the return on investment. Instead, join a trade association that is involved in your industry. This will prove more valuable because you are increasing your credibility, creating partnerships with others who understand your business, and gain invaluable information on how to improve and get ahead in your field. Industry associations are also fantastic in that they cost less than a chamber of commerce to join, and sometimes have discounted rates for business owners.
The difference between a chamber and association are only slightly different, but the returns of your invested time, effort, and money often varies. While we prefer trade associations as the best option for building word-of-mouth marketing, chambers of commerce can offer the same solutions for a higher price. Before you decide which option to run with, keep these 3 points in mind…
Trade associations and chambers of commerce should…
1) Build your credibility
2) Increase your expertise
3) Provide insight into industry trends
Happy Networking!
Regards,
Bright Biz Media Staff
Marketing for Start-Ups 