Show notes
Oct 16, 2024
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.
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For now, continue listening for the full story from Mike.
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Most founders I speak to feel busy but stuck; plenty happening, but not always clear on what genuinely matters most this quarter. If that’s you, the G90 Summit is worth a look. A structured half-day where we work through everything competing for your attention, get clear on the three to five things that must happen in the next 90 days, then commit to them and build the system to make sure they actually happen. Quarterly, virtual, £97 a seat.
Mike can be found here:
https://www.linkedin.com/in/supermike/
Resources:
The Superconnectors podcast - https://open.spotify.com/show/3h5l58rLEnBi7Q3cF7lTmf