When attending a conference one can always rely on forming partnerships in that particular event. The story is much the same as in the reason to attend a social or business event. It is all for the purpose of networking.
Once a network has been established that is where the synergies happen. As highlighted by B2B Marketing in an article networking synergies , synergy for the growth of your business is crucial. Once you have formed a reliable network through likeminded partners, the synergies of connecting their contacts with your contacts then all come into play.
There is always someone who needs or can make use of a service that you can render. Hence maintaining healthy relationships with your networking partners is important. This aspect of networking helps your business especially if you are thinking of expanding you brand and doing something new and different. The partners that you have maintained relationships with over your business lifespan, can then put you in contact with people that they have used for a particular purpose previously.
Hence, the essence of growth in every business would be that the connections that you make via synergies of your networking partners are the most important components in the business arena. One never knows when your business will need a plumber or a web designer or a marketing specialist. But as your business grows, these types of connections become handy as now through the synergies you have a referral or with the inverse you become the referral.
As a brand you become a seller of a product and services therefore by attending conferences you can build up your networking portfolio and this will also be a genius way of creating sales for your company. Even if the contact you met at the conference does not need your services directly, he/she can indirectly serve as a sales person leading you further to someone they know. All because they met you and they can connect you through synergies making you their preferred referral.
In conclusion, to grow ones business and increase the profit margins of that business is the main objective and how one does that highly depends on the quality of the services one renders and how well one sold oneself with the networks in order to become a referral in business.