The Value of Networking

Having lost my job in late December and being offered a new job in early March, I would say that I am lucky to have found something so quickly.  But…am I lucky or did social networking play into things?  Check out this article http://washingtontechnology.com/Articles/2013/04/01/Insights-Amtower-fear-of-linkedin.aspx?Page=1 in Washington Technology which discusses the role of social media in terms of networking and specifically Linked In.

Here are a few fun facts listed in the article regarding Linked In:

  • LinkedIn has over 205,000,000 members – all business professionals, and this number is growing
  • There are over 1,634,775 groups for all manner of business activities (also growing)
  • 2,914,311companies have profiles (as of  1:58 PM, 3/31/13; also growing)
  • In 2012 there were 160 million unique visitors to LinkedIn every month (also growing)
  • In 2012, over 5.7 billion searches were conducted inside LinkedIn (also growing)
  • The Fortune 500 are all here
  • Washington Technology’s Top 100 are all here
  • Finally, Linked In is OLDER than Facebook!

While I utilized Linked In to grow my network, I learned some interesting things about my “friends” that I did not know before and I was able to utilize some of those people as resources where I may not have done so in the past.  I’m not sure if it got me my new job but it certainly helped.  But networking is not the only value of Linked In.  Here are data from a survey conducted about why people are utilizing Linked In as referenced in this article:

“A Forrester study commissioned by LinkedIn last year shows the top reasons decisions makers turn to social networks for business”

  • Learn from trusted peers – 58 percent
  • Quickly find information – 40 percent
  • Relevant context to connect with vendors – 37 percent
  • Access to a broader network — 49 percent

Another fact that has shown up in numerous studies over the last year is that companies that are active in social networks are growing much faster than those with less or no activity. In short, laggards are losing marketshare.

Bottom Line:  Businesses need to start considering Linked In as not only a way to grow their network but also to grow their business.  We are in lean times financially, and perhaps more business deals and learnings could take place utilizing a social networking site such as Linked In.

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One thought on “The Value of Networking

  1. Using LinkedIn as a networking tool and as a “self-promotional” is a great way to get your name out there. My employer frequently uses LinkedIn as a tool to help find talented individuals to bring experience into our organization. LinkedIn is also a great way to show potential employers the experience and expertise that you have in certain areas of your career field. Your post shows the great highlights and services that LinkedIn can provide to individuals when trying to network and build their “connection base” online.

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