You could spend a lot of time and money running round to networking events for business owners. I’ve seen people do this and then collapse in exhaustion after a couple months complaining that networking just doesn’t work.  That’s why I advocate strategic networking.  Studies show it often takes 7-8 contacts with someone before they consider doing business with you.  So its better to pick a couple  groups full of your ideal clients or key referral sources and getting really involved. This works for online networks/forums/communities too.  But you don’t want to become too insulated, so it’s also important to broaden your horizons by attending an outside event once a month or so.  To get a different perspective, new information, etc.

So I ventured out to the Triangle Interactive Marketing Association’s meeting this week on the top trends for 2008.  Here are the trends I found notable for small businesses:

1. Conversational marketing (blogging, user forums, podcasts, feedback options, social networks) takes off as a practice now that mega brands like GM are on board.  For small businesses that are trying to look big, it’s time to find something that works for you in this arena.

As for the power of this new media, it was interesting to hear that the Dell Hell  debacle (essentially a guy who started quite a media phenomenon when he bought a new Dell and in-home service contract in July 2005–the computer was a lemon and in-home service wasn’t possible. He started blogging about it and became a lightning rod for a whole lot of unhappy Dell customers.) has materially affected Dell’s stock price and continues to despite progress even the Dell Hell guy is impressed by.

Stay tuned for the other three trends I found relevant to small businesses.