Episode #422 - Networking and Referral Marketing in the Digital Age - with Mike Adams of IntroStars

In this episode of ScaleUp Radio, we dive into the evolving world of networking and referral marketing with Mike Adams, the founder of IntroStars.

IntroStars is a unique platform connecting business founders and sales professionals with key connectors in their industry.

Mike shares valuable insights on how networking is shifting from a selling-driven activity to one focused on building genuine relationships, and he explains how referral marketing is moving beyond customer introductions to incentivizing external referrals.

We also explore Mike's experiences during the hypergrowth phase at Zoom and how it has shaped his approach to scaling a business.

Some of the key highlights include:

The Mindset of Networking: Mike emphasises the importance of shifting from a "selling" mentality to one of helping others. It's about building long-term relationships and offering value before expecting something in return.

IntroStars Platform: This innovative two-sided marketplace allows businesses to seek introductions from trusted networkers, offering a reward (usually 10% of the deal size) for successful connections. The platform, which is currently being piloted in London, takes care of everything from tracking to payments.

Referral Marketing Evolution: Mike discusses the shift towards incentivised referral programs and how companies can benefit from external referrals rather than relying solely on customer-based ones. Platforms like IntroStars make it easy to set up and manage these programs.

Cold Outreach is Declining: With the growing importance of warm introductions, businesses need to rethink their marketing strategies. Content marketing and building relationships are becoming far more effective than cold outreach.

Lessons from Zoom: Mike shares his experience at Zoom during its period of rapid growth, highlighting the challenges of scaling while maintaining company culture and operational efficiency. He explains how a mission-driven approach can fuel a company’s success.

Make sure you don’t miss any future episodes by subscribing to ScaleUp Radio wherever you like to listen to your podcasts.

For now, continue listening for the full story from Mike.

 

Scaling up your business isn't easy, and can be a little daunting. Let ScaleUp Radio make it a little easier for you. With guests who have been where you are now, and can offer their thoughts and advice on several aspects of business. ScaleUp Radio is the business podcast you've been waiting for.

If you would like to be a guest on ScaleUp Radio, please click here:

https://bizsmarts.co.uk/scaleupradio/kevin

You can get in touch with Kevin here:

[email protected]

 

Kevin's Latest Book Is Available!

Drawing on BizSmart’s own research and experiences of working with hundreds of owner-managers, Kevin Brent explores the key reasons why most organisations do not scale and how the challenges change as they reach different milestones on the ScaleUp Journey. He then details a practical step by step guide to successfully navigate between the milestones in the form of ESUS - a proven system for entrepreneurs to scale up.

More on the Book HERE - https://www.esusgroup.co.uk/

 

Mike can be found here:

https://www.linkedin.com/in/supermike/

https://www.introstars.com/

 

Resources:

The Superconnectors podcast - https://open.spotify.com/show/3h5l58rLEnBi7Q3cF7lTmf