How SMEs can build their digital networks in the endemic world

Pandemic-related safe-distancing measures and travel restrictions have caused many in-person networking activities to be called off. In Singapore, many MICE (Meetings, Incentives, Conferences and Exhibitions) events across different industries were either cancelled or postponed during the early days of the pandemic¹. Only close to 50 MICE events were held in Singapore between July 2020 and March 2021², and some key summits – including the 2021 World Economic Forum – continue to be called off³. The ensuing economic fall-out aside, this has likely prevented many SMEs from growing their professional relationships.

But rather than wait for full-scale in-person events to resume, SMEs should tap into the wealth of digital portals available to continue growing their business networks and nurturing key relationships. These include online networking organisations, new apps that facilitate meaningful connections and existing social media tools.

Here are a range of digital platforms that you can use to help build vibrant business networks – both now, and when the pandemic subsides.

Join online networking groups to meet new people

Although many in-person networking events are still on hold, SMEs can take advantage of digital networking groups to grow their business contacts despite pandemic restrictions. This ensures that you continue to forge new industry connections that cater to your business interests and connection goals through virtual meetings, events, and networking sessions.

One key benefit of this approach is that on these platforms, certain barriers to entry are removed – be it living outside areas where offline networking meetings are held, or experiencing social anxiety when attending in-person events⁴ – thus allowing more business leaders to access these groups.

Broaden and engage with your contacts using LinkedIn

When it comes to professional networking, LinkedIn remains an immensely popular digital platform, with over 774 million members worldwide⁵. During the year from March 2019 to March 2020, the website saw a 55% year-on-year increase in conversations between connections and a 60% rise in the amount of content being created⁶.

The widespread global membership of LinkedIn and the burgeoning activity on the platform make it an ideal space to engage and connect with like-minded business leaders.

Aside from joining specific networks and groups that are relevant to your industry, you can attend online events⁷, add industry contemporaries to your network, and increase your reach by producing thoughtful content to boost your profile views and spark conversations among those in your network. Using LinkedIn frequently has been shown to yield significant networking benefits, with increased usage leading to an enhanced professional status⁸.

Participate in insightful conversations on Clubhouse

One popular networking tool to recently emerge is Clubhouse. The “social audio app” allows its members to act as moderators, who can host “rooms” to explore professional topics of their choosing, with the option of enlisting fellow members as co-hosts or speakers. Other members can then listen in as attendees, and contribute to the dialogue.

Despite only launching as recently as March 2020, Clubhouse already has 10 million weekly active global users⁹, and counts famous names amongst its user base. Key opinion leaders such as Reddit co-founder Alexis Ohanian¹⁰ and the CEO of Tesla and SpaceX, Elon Musk¹¹, have hosted events of their own. Closer to home, influential Singaporean figures have also used the platform to debate trending topics and reach new audiences¹².

Besides gaining free access to enriching dialogues amongst some of the world’s top thought leaders, you can also use Clubhouse to strengthen your own business connections. You can achieve this by moderating meetings of your own, by co-hosting, speaking at or making a point during a discussion, or by reaching out to someone you encountered during a talk.

Expand your reach through other social media platforms

Besides LinkedIn and Clubhouse, there are other social portals that SMEs can harness to build their networks. These include established services such as Facebook, Twitter, and Instagram, alongside newer options like TikTok.

While these services might not be traditional networking platforms, they still wield enormous clout in terms of popularity and influence. For instance, TikTok is currently one of the world’s fastest-growing social channels¹³, offering access to more than a billion worldwide users.

You can join relevant community groups on Facebook, and follow and interact with other business leaders on Twitter whom you’d like to add to your network. You can also host video discussions using Instagram’s Live function to engage with like-minded businesses owners as well as possible customers, and generate engaging content on TikTok that can boost your profile amongst industry peers.

With their combined reach, these channels can allow you to connect with those beyond your existing networks, thereby opening the door to fostering new relationships that can help your business grow.

Grow your business community with UOB SME Hub

Aside from taking advantage of the aforementioned online platforms to enhance your business connections, you can also join UOB SME Hub. The online platform provides the latest essential tips and resources to help SME owners stay informed about key industry trends and boost your knowledge to let you make better business decisions. You will also find solutions to aid you in managing your business, gain easy access to events and networking opportunities to connect with like-minded peers.

To receive the latest updates from SME Hub, sign up here.

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