Perspectives & Strategy

This article is being added as an incomplete milestone/commentary on the current state of Business Networking.

Not too long ago, on this site I asked the question “Is any Business Benefit Gained by Adopting Collaborative Technologies within the Workplace?” at that time I concluded that whilst there were significant benefits they would only be viable in certain types of business or situation.

Since that time, I have been on a personal journey that has taken me into new realms of IT. Right now my thinking is incomplete but I am convinced that business networking, collaborative technologies, and web 2.0 (and some call this Enterprise 2.0 – a term I personally dislike) are a necessary part of the changing business landscape. Having been through very tough times I feel that today the business that adapts best to the new world is the most likely to survive.

Why Business Networking?

We have seen a significant rise in the use of Social Networking platforms. According to www.compete.com usage of all of the primary social networking sites has risen:

◊ LinkedIn up 13% in March 2009 (+143% over 1 year ago)  at 12.7 million visitors.

◊ Naymz up 15% Mar/+77% over 2008

◊ FaceBook up 23% Mar/+195% over 2008 at 91 million visitors.

◊ Xing up 26%/+118% over 2008

◊ Twitter up 77%/+1202% over 2008 at 14 million members.

It should be noted that while each of these sites claim larger membership compete.com is only measuring actual visits, e.g. the active membership. Each of these sites has a part to play in developing how business leverages the web. In developing the Internet we have moved from few contributors and a large set of spectators to a growing world of writers and commentators. The old relationships are changing. The Internet has become a way to say anything that you want to say. I dare say that the old quote the “in searching on the Internet only 0.001% of what is available on the Internet is of any relevance to a person’s interests” is now massively out of date and we ca add at least 2 zeros between the point and the one today.

In “Leveraging the Social Media Sales Channel” I stated that a new attitude needs to be adopted. One of the key concepts of networking is that you must give in order to receive. This is true of social media marketing techniques. Also advertising is different from involvement.

The rising world of Business Networking is one that adopts new techniques in order to build trust and win business by becoming a trusted advisor. This demands giving something of value in order to get something of even greater value. I must be willing to assist a prospect solve a problem (without charge) so that I may secure them as a client. This has many parallels to Social Networking except that I am not watching out for Auntie Mavis’ latest update on her world tour, the corporation is looking at building connections based on common goals and capabilities.

The Web 2.0 platform is likely to be a complex one, but it will allow the corporation to go in a multitude of new directions. In my research to date there are are at least 3 areas of importance:

◊ Collaboration – both internally end with external partners

◊ Advertising – can be targeted based on location and demographics

◊ Revenue Generation – leveraging the ‘Social Media’ sales channel

I know there are a great number of others areas that are important. I would like to hear from you as to what you think is important to developing your business through the Buisness Networking channel. Email me via editor@cio-perspectives.com, or leave a comment.