Business networking is a marketing method by which business opportunities are created through networks of like-minded business people. There are several prominent business networking organizations that create models of networking activity that, when followed, allow the business person to build new business relationship and generate business opportunities at the same time.

Many business people contend business networking is a more cost-effective method of generating new business than advertising or public relations efforts. This is because business networking is a low-cost activity that involves more personal commitment than company money.

Online business networking

Businesses are increasingly using business social networks as a means of growing their circle of business contacts and promoting themselves online. Since businesses are expanding globally, social networks make it easier to keep in touch with other contacts around the world. Specific cross-border e-commerce platforms and business partnering networks now make globalization accessible also for small and medium sized companies.

Face-to-face business networking

Professionals who wish to leverage their presentation skills with the urgency of physically being present, attend general and exclusive networking events. Many professionals tend to prefer face-to-face networking over online based networking because the potential for higher quality relationships are possible. Many individuals also prefer face-to-face because people tend to prefer actually knowing and meeting who they intend to do business with.

General business networking

Before online networking, there was and has always been, networking face-to-face. "Schmoozing" or "rubbing elbows" are expressions used among business professionals for introducing and meeting one another, and establishing rapport.

Exclusive business networking

Exclusive networking means, within a group of professionals, only one representative per specific industry is allowed to regularly attend and benefit. For example, in one such group of professionals, there may only be one kind of salesman from a particular industry. Networking organizations have varying rules of membership, strictness, and accountability.

(Source: http://en.wikipedia.org/wiki/Social_network)