The Power Of Networking

Regardless of experience or discipline, it is undeniable that personal and professional networks are powerful. They provide much more than just exchanging information, as your network can foster long-term relationships and support career progression. Over the past decade, the rising prominence of networking platforms such as LinkedIn has only increased the importance of building an online presence. Wide networks are now deemed an essential prerequisite to business development and personal progression. Focusing on networking effectively can make the difference in winning work and building long-term business relationships.

Many of us are starting to network in person again since Coronavirus restrictions have been lifted, yet virtual replacements often do not have the same impact as a face-to-face event. While Zoom calls and online socials have been the only alternatives for people to continue staying connected, the ability to effectively network with colleagues and industry professionals has been limited. Some studies have found that nearly 7/10 participants feel that online meetings lack the human interaction necessary for adequate networking [1]. So as we ease our way back to in-person interactions and the formidable handshake returns, the key question is how do we go about reaping the benefits of face-to-face communication for truly effective networking?

A common misconception of the term networking is that there must be a formal situation or initiation for a conversation to count. But we are always networking, regardless of who we are talking with, and we can never know which conversation may lead to an opportunity that ultimately elevates business performance. The variety of ways in which we can network ranges from the more traditional in-person events, such as trade shows, to online social media platforms. If used properly, relationships maintained through networking platforms like LinkedIn can propagate the development of meaningful business opportunities. Social posts can be used to update your network on your current thinking on industry trends to advance knowledge-sharing and stimulate engagement. Combining digital networking with attendance of in-person events and meetings can ultimately have a far greater impact on your business than one method by itself can achieve.

There is no one right way to network, everyone has their own personal style and every conversation can add value, offer insight and develop knowledge.

Here are just four of the possible outcomes the power of networking can elicit:

1. Industry insights

Gaining insight into shifting industry trends from the point of view of other businesses can broaden perspectives and further your understanding of market dynamics. Actively participating in sharing industry insights, contributing to the knowledge base, and learning from industry experts can enable you to stay ahead of the curve.

2. Contacts, Business Development, and Brand Recognition

Expanding your contact base is a sure outcome of networking, especially at in-person events. Increasing the number of contacts in your arsenal can generate business development opportunities by fostering relationships that lead to mutual gains.

This form of business development improves brand recognition and business presence in the marketplace; being visible and getting seen is crucial to growing a business. “It’s who you know” may be clichéd but it is true in this instance as new connections can open the door to new opportunities.

3. Knowledge Sharing and Assimilation

As we all know “knowledge is power” and exposure to new ideas and information is fundamental to business learning. Engaging with individuals from a diverse range of backgrounds, professions and industries can provide the opportunity to assimilate a wide range of important ideas to advance ourselves.

4. Fostering Long-Lasting Relationships

Engaging in open conversations with individuals helps to forge long-lasting relationships for mutual benefit. Foster your networking relationships by investing time in relevant updates and maintaining a regular dialogue.

Deecon has attended two industry-specific events in the last two weeks: Procurex National and Connected Britain. It was a fantastic experience to attend seminars by industry leaders, participate in debates and engage in conversation with so many like-minded individuals. These interactions provided the opportunity to share our current thinking about the future of procurement and the telecommunications sector as well as learning valuable insights from the perspective of those we would have otherwise not had the chance to speak with. This marks the return of Deecon’s attendance at such events as the power of networking continues to hold the utmost importance.

So let’s connect. Find out more about Deecon and how we can work with you here.

Words by Mollie Jordan

References:

[1] https://techjury.net/blog/networking-statistics/#gref

[2] https://www.forbes.com/sites/biancamillercole/2019/03/20/why-networking-should-be-at-the-core-of-your-career/

[3] https://www.greatbusinessschools.org/networking/

[4] https://www.entrepreneur.com/article/314496

[5] https://www.huffpost.com/entry/why-your-network-is-your-_b_3375954

[6] https://hbr.org/2007/01/how-leaders-create-and-use-networks