Networking Is Good For Business

This article from Smith.a.i fully explains why business networking is for you:

Successful networkers know that business networking is all about making personal connections and building relationships. However, the COVID-19 pandemic put a halt on in-person networking events, which had always been the preferred method of building these relationships.

The pandemic has forced people to adapt and adjust in many ways both personally and professionally, including how we network. While networking typically involved in-person events, during the lockdown people needed to leverage other methods of communication like phone calls, social media, and email.

The world is gradually returning to some form of normalcy, but business networking has changed forever. Continue reading to learn more about business networking, how it’s changed in the last few years, and tools and tips for networking success in a post-pandemic world. For a quick summary, jump to our infographic below.

What is business networking?

Business networking is the process of meeting business owners, possible sales leads, potential suppliers, and other professionals to help you grow your business. 

Networking is important because it allows you to connect with not only potential customers or clients but also people who can provide referrals or valuable insight and advice specific to your industry.

How business networking has changed

Before the pandemic, traditional ways of networking thrived with face-to-face communication, with 95% of people agreeing that better business relationships were built through face-to-face meetings.

Although many people still plan to host and attend in-person networking events in the future, two years of distancing has presented a slew of new digital networking methods, strategies, and benefits.

A rise in digital networking

While digital networking has been around for a long time, it took off in 2020 when it became the only method for individuals to connect and keep in touch due to restrictions.

During this time, people started leveraging social media platforms such as Facebook, LinkedIn, Twitter, and other networking apps to expand and deepen connections with their business contacts. 

Even though in-person networking activities are resuming, 63% of people said they will continue to utilize digital technology more frequently even after the pandemic has passed.

Networks can expand beyond local communities

Virtual networking has, maybe most importantly, broken down numerous geographical barriers and extended opportunities. Networkers are no longer limited to their local breakfast networking groups or happy hour meet-ups.

A study conducted by Forbes found that 76% of business professionals agreed that one of the top benefits of leveraging technology for networking is more flexibility in location and timing.

By leveraging digital networking tools, phone calls, and other telecommunication methods, people are better able to interact with experts in their field from all over the world and have meaningful interactions with them. With the virtual workplace on the rise, organizations can interview, vet, and hire more people from a broader geographic area, helping to diversify their workforce.

You may even be able to obtain a greater pool of referrals if you have a wider network. With referrals accounting for 65% of new business opportunities, organizations can gain more referrals from virtually anywhere in the world.

So if you were wondering if networking is right for you and your business, the answer is YES! Want more information? Check out this article.