3 Essential Benefits of Online Business Networking You Must Know
As an entrepreneur, you understand what networking is and that it holds many benefits when it comes to building relationships within your industry. However, have you ever stopped to ask yourself what the benefits of online business networking are?
There’s a Difference Between Traditional Networking and Online Business Networking
Yes, networking and business networking are two different terms that entrepreneurs need to understand:
- Networking: The act of connecting with and exchanging information or services with other professionals in your industry.
- Online Business Networking: Establishing a mutually beneficial relationship with other businesses within your industry, and with potential clients/customers in an online setting.
Need an example? Think influencer marketing, where brands reach out to social media influencers to help spread brand awareness amongst the influencer’s followers. This is an example of online business networking because the relationship that is built between the brand and the influencer is mutually beneficial:
- The brand gets to spread awareness of its business to a new/larger audience.
- The influencer gets backed by the brand and may receive additional perks, such as free/discounted merchandise, recognition from a reputable brand, and their audience may grow as a result of the brand sharing the influencer’s post on their own online sites
When done right, online business networking is a win-win situation for all involved.
3 Benefits of Online Business Networking
Understanding that online business networking is a relationship that is built on action is wonderful. However, to truly understand why you need to partake in this practice, you’ll need to know the benefits of online business networking. Here are three essential benefits you need to be aware of.
1. Maintaining Relevancy in a Crowded Market
With more entrepreneurs heading online to not only build their brands but spread awareness, it can seem difficult to stand out. Utilizing online business networking can and will help you stand out in a crowded market.
For instance, let’s revisit influencer marketing. Approximately 93% of marketing professionals say they utilize influencer marketing regularly, and 92% of marketers say that it’s an effective form of marketing because it leads to higher user engagement than content that is published by a brand itself.
The relationships built through online business networking allow for the spread of that additional brand awareness.
2. Build a List of Relevant and Reliable Referrals
You likely already understand that, in business, it’s not always about what you know, but who you know. Having the right connections can make or break many opportunities, which is why it is essential to build your online business network continuously.
Sure, knowing the right people is excellent. However, working with those individuals is even more crucial. The more exposure you can get for your brand through collaborative efforts with your connections, the better.
3. Increase Your Brand’s Opportunities
As you continue to build your online business network and the more brand awareness you can generate, the more opportunities you’ll start to see for your business. These opportunities can include anything from:
- Additional networking relationships/opportunities – with one survey stating that 40% of people say they network more online than in person
- Speaking engagements
- Guest-blogging opportunities and more
The more your network grows, the more opportunities will present themselves. Why – because you’ll start seeing that your industry and your audience view you as an authority within your niche. The more authority you have, the more people will turn to you for guidance.
Now’s the Perfect Time to Take Advantage of Online Business Networking Opportunities
With the face of business continuously changing, it’s more important than ever before to not only partake in networking but online business networking. These actionable relationships, when utilized correctly, can and will help you not only build your brand and audience but present you with opportunities you may have never imagined for yourself.
Are you ready to be part of an amazing online business networking community? Join The Hive to become a part of a community that sends and receives advice, recourses, and support to help one another grow.