3 Ways Networking Will Make you a Better Decision Maker

Social networks have become important resources for making better, more informed and intelligent purchasing decisions.

This is particularly true for technical acquisitions. According to an International Data Corp study, 75% of B2B buyers use information from social media and their own interactions on social networks to make purchase decisions. This networking input impacts every stage of buying, from the exploration of an idea to finalization of the purchasing details.

Of course there are many networking venues for buyers to get ideas and details, including industry publications, conferences, industry analysts and vendor websites. But those are just the tip of the networking-opportunity iceberg. Manufacturers and service providers of even the most traditionally-run businesses are realizing the increasing importance of these channels for building relationships, acquiring customer feedback and spreading information.

To reach and connect with the people you want to help, consider how these 3 social media venues can enhance your opportunities and decision-making:

1. Social Media has Morphed into an Essential News Source

News is spreading faster than ever due to the almost-universal increase in the use of social media. Today, people post less about themselves and more about newsworthy material, causes they believe in and issues they care about. News sites use social media as an important source of traffic but they also rely on the interactions on social channels moving across their sites to get their own news. Industry publications’ social channels serve as a great place to collect information, identify experts, and connect with people tackling the same decisions you face.

2. Peer Connections

Social media is also extremely useful as tool for collaborating with peers (particularly those who are long distances away) to swap information such as new trends and predictable complications with work projects. In a recent Wall Street Journal survey, 39% of business decision makers reported interacting with peers to investigate, research, problem-solve and choose a course of action, product or services. Professional and alumni networks like LinkedIn and IEEE are top sources for decision makers. Technology has made introductions and collaborations easier than ever and allows busy professionals to benefit from one another’s experience and insight. While it’s true that life and work are more complicated, online networking is lifting some of the burden for those who connect intelligently.

3. Invaluable Customer Service Relationships and Feedback are Much Simpler

If you run a business or manage projects, social media is a key customer services tool for creating relationships and boosting communications with potential customers. If you’re looking for a specific product or service – even something you’re not sure exists – social networks can be a great place to start. Ask questions directly (“Has anybody ever heard of a company that……?”) on an industry blog and you may find a company advocate willing to answer a few questions. Willingness to communicate with you via social media is often a great indicator of the great customer service you will likely receive after purchasing their product or service.

If you’re feeling tentative about professional networking, try reading some product reviews and notice how the reviewers refer to each other’s posts and realize: it’s really that simple. These are essentially mini-communities that spring up around a common interest in a product. There are people online who already invested a lot of time and energy into solving the problem you’re just start to confront. They’ve earned bragging rights for their hard work and ingenuity – and as their grateful audience you’ll win too. Before long you’ll find yourself paying-it-forward and enjoying the online banter of your new professional community.

If you’re already an expert online networker, please let us know how you have benefited in the comments below – we’d love to hear from you!