The objective of any successful business is to convert each individual you encounter into a client. This is possible through effective networking. Therefore, business networking is an investment worth making. Picking the appropriate networking platforms is critical to propelling your organization to new heights. Entrepreneurs can create a healthy business environment through networking events.
When it comes to client acquisition, B2B organizations have greater complexity and time constraints than B2C enterprises. Businesses that create alliances might operate exclusively for years, implying that corporate clients can outlive people by a large margin. There are several business-related online networking apps that can help you create a solid customer base.
Business networking and entrepreneurship are critical components in increasing ROI. Let us quickly examine how networking and entrepreneurship are inextricably linked.
Business Networking and Entrepreneurship Go Hand-In-Hand
Often, networking is at the heart of small businesses. Whether you aspire to be a corporate behemoth or choose to keep your business small and manageable, you must develop connections in your industry and expand your contacts to other sectors to sustain and grow.
Developing relationships can help you enter new markets or work with other businesses as a business owner. As a result, you can enhance your business's image
, improve sales, or even open more branches.
The reasons why entrepreneurs are using business networking apps are as follows:
Networking aids in the discovery of new business prospects
Obtain a return on your investment by establishing beneficial connections
Through networking, entrepreneurs develop referral networks
Increase brand recognition
Broadens your business perspective
Your network is your net worth. Eloqua, a platform for marketing automation and intelligence, was acquired by Oracle for $871 million in 2012. The transaction went well because Paul Teshima, co-founder of Eloqua, had built excellent relationships with Oracle executives. Indeed, Eloqua was acquired for more than 200% of its projected public market value, resulting in a net worth rise of more than $400 million for shareholders.
Networking will give you a more significant negotiating position with investors. The higher the quality of your relationships, the easier it becomes to convince investors to invest in your firm. The availability of various networking apps for business makes it easier to establish connections with your prospective investors. In addition, networking platforms can help you highlight your USP and distinguish your business traits from those of your competitors.
Let's quickly take a look at the top 3 B2B professional networking apps that help build social capital.
Top 3 B2B Networking Platforms
LinkedIn is one of the best networking apps for generating B2B lead generation
. It is a professional networking website that solely focuses on professional networking. Over 750 million professionals use LinkedIn for networking, job growth, and other purposes.
The platform uses wide range of methods for increasing your business's return on investment
, including sponsored content, sponsored messaging, and text or video ads.
The portal serves as a dependable source of information for B2B buyers: (Source: Eventige)
50% of buyers consult LinkedIn before making a purchase
LinkedIn connects you to more specialists than any other site
When it comes to networking over large groups or millennia, LinkedIn carves a niche for itself with its unique possibilities. Whether you're looking for new supply chain relationships, business talent, or nurturing prospects, you can access all the necessary tools and contact information. This is one of the most popular business networking platforms among entrepreneurs.
Through virtual or in-person conferences, town halls, and summits, Bizzabo connects with new individuals and fosters professional partnerships. It is one of the greatest professional networking apps for event organizers looking for a virtual solution. To add to its benefits, this app is also available free on mobile applications. The platform is divided into two sections: one for individuals who attend conferences and the other for event organizers.
Bizzabo can facilitate the seamless management of ticketing and registration, create an event website, create a plan, and access rich statistics to calculate the return on investment for your event. In addition, attendees may network using the app's capabilities, such as one-on-one messaging.
With the caveat that it is not focused on professional networking as Linkedln, Facebook is an incredible tool for connecting with others. In fact, Facebook is most well-known for its ability to foster personal relationships. In addition, it provides advertising opportunities with the ability to target and optimize specific audiences.
According to cazoomi, Facebook is the second-best ad platform for return on investment after Google.
You may share ideas, ask questions, and receive comments from like-minded individuals directly through your Facebook profile. As a result, you can build numerous business relationships on Facebook, albeit more personally, than on specialist business networking apps.
Choosing the appropriate networking platforms helps you derive quantifiable and definable outcomes from the actions conducted on the media. Leveraging networking entails utilizing it to your advantage to maximize your return on investment. Tracking social media ROI is critical for a dynamic, successful, entrepreneurial firm
What are the different kinds of business networking?
Casual contact networks
Community service clubs
Online social media networks
Which platform is used for professional networking?
LinkedIn is the world's most popular online professional networking platform. It is used by millions of people in over 200 countries.
Which is the most popular social media platform?
With roughly 2.5 billion monthly users, Facebook is the most popular social networking platform.