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Business networking in the 21st century

14 Replies Andrew Doyle

Business networking in the 21st century remains a critical component of building and maintaining contacts with like-minded entrepreneurs and existing and potential clients.

Business Networking in the 21st Century

Networking in today's world can be a very different prospect to yester year. Technology has created a whole host of new platforms with which businesses can network effectively.

The internet and social media has made it easier than ever to communicate with people from relevant organisations and networks and share knowledge, attract new clients and recruit new employees.

The combination of new social media tricks of the trade with the traditional means of liaising with useful resources and forging new working relationships means business networking is multi-faceted in the 21st century.

Make use of LinkedIn

LinkedIn is arguably the largest business-related social networking site on the internet and consequently is a great platform to build and manage your professional identity. LinkedIn has over 10,000 groups that you can join and participate in discussions and debates whilst connecting with corporate blogs in an effort to engage with your professional network.

Shout about your expertise

Don’t be afraid to display your expertise to potential clients and fellow professionals. Use social media accounts on Twitter and Facebook to build a virtual contacts book and offer regular snippets of advice that add value to your followers’ day-to-day working lives. If you’ve got something more in-depth to say why not consider writing a personal blog that can be a great way of building contacts and trust in an informal manner.

Encourage word of mouth

One of the main benefits of social media networks is that they encourage effective word of mouth marketing for products and services. If the response is positive and it goes viral it can be a major coup for emerging businesses. Similarly, it can be a very damaging experience if businesses receive negative feedback. However, in the main it is great for brand exposure and for building trust with potential clientèle.

Show your face at events

In order to become a familiar figure to like-minded entrepreneurs and potential connections it is important to engage with local business networking organisations and show your face at as many events as possible.

Death of the business card? No way!

Although you could be forgiven for thinking business cards may be somewhat defunct in their purpose with the accessibility of the internet and social media, it is still a very successful tool for attracting leads and referrals in the 21st century. A business card still makes that all-important first impression of your business to potential customers and subsequently it should be eye-catching and memorable, whilst being a treasure trove of contact information without being mundane.

Be selective with new contacts

It is highly likely you will meet a multitude of names and faces when business networking in the 21st century. However, the likelihood of staying in contact with all your new connections is very slim. Consequently you should aim to be selective with the contacts you touch base with on a regular basis – ideally entrepreneurs and businesses that can offer you something extra.

Business networking remains a crucial skill for successful entrepreneurs and effective networking will certainly add an extra dimension to your businesses’ growth potential.

The State of the Blogosphere

13 Replies Jonny Hankins

Technocrati.com have recently published their State of the Bolgosphere 2011 report and it raises some interesting questions. The report is based upon a survey of 4114 bloggers around the world, and presents various statistics in easily readable graph format explaining who blogs and their stated reasons why and purposes.
A chalkboard expression of what a blog might be
I am one of the 30% over 44 year olds, with the majority being considerably younger than me and much more experienced. A small percentage treat blogging as their job, make an income from their posts or run a blog for their own business or employer. The vast majority do it as a hobby, in the main to express their expertise or interests. A major sector say that they just blog in order to speak their mind freely.
I am most interested in the professional category, and I in fact find myself somewhere within that group. I am not however paid to promote something, but to provoke discussion about the ethical implications and responsibility issues brought about by technological development, and one of my tools is blogging. My employer is also a non-profit research foundation, so the aim of making money is out of the equation.

Blogging is generally perceived as a pier to pier action, and the report cited above demonstrates that people trust blogs and bloggers, in many cases more that they trust other publishers. But what if we find people publishing reviews about services or products that they have a vested interest in? If I am paid by a company to review or promote their products can I be really honest in my views? And what about the breech of trust implied?

In the US the FTC (Federal Trade Commission) made a ruling in 2009 determining that bloggers have to state if they are paid for posts by an interested third party. If a blogger in the US does not state that they either receive the product to keep or are paid by someone to write the review they risk an 11000 dollar fine. In the UK the Office of Fair Trading also has extensive blogging disclosure rules. All well and good, but the report above states however that only 60% of people that find themselves in this position actually adhere to the rules, and the statistics are very likely to be skewed, as when a person is asked if they have respected the rules that almost always say yes.

How could this problem be addressed? The Technology Bloggers site refuses to publish anything that may be deemed promotion, the author guidelines are clear. But would it be possible for all blogs make this statement and enforce it, and if it were possible would they do it? The implications for trust and the spreading of reliable information are obvious.

Another issue I wish to raise involves advertising. The report offers various statistics about how many blogs have advertisement placings, before going on to analyze the reasons given either for not carrying or carrying advertising, the issue of control over who advertises and the possible financial rewards.

Here again we step into the issue of trust. If a blog has a reputation as offering reliable and quality information this reflects upon the company advertising. The placing is a two way endorsement. If advertising is not offered (as some may feel that it affects independent status or may not reflect the blogger’s ideals), how can a blog not only make money (if that is the aim) or even cover its expenses? Most bloggers sink their own money into setting up and running their blog, and if you add up the time spent in maintenance (and the administrators are undoubtedly experts in their field) each blog should be seen as a real investment in terms of many different forms of capital. You pay $120 an hour for such expertise in other fields!