Seventy percent of jobs are never published publicly, so Networking for your career is essential
Networking is vital for those who want to move up in their career.
85% of jobs are filled through networking. In fact, according to LinkedIn, 70% of jobs are never published publicly.
These jobs are either posted internally or are created specifically for candidates that recruiters meet through networking.
Seventy percent of professionals hired in 2016 had a connection at their company, and 80% of professionals consider networking vital to their career success.
Though it’s possible to get a job by simply sending your resume aimlessly to job boards and postings, these statistics clearly show that networking is the best way to create a successful career and maintain job satisfaction.
Networking for Business Relationships
Networking not only helps you start a career but also helps you succeed at it.
Oxford Economics published a thorough study on the importance of networking for business relationships.
Business relationships can include clients and customers, partnerships, and vendors.
Networking is one of the most important ways to find and keep customers.
The close rate for meetings is 40%, meaning that in-person meanings end in a sale or deal half of the time.
Furthermore, 75% of customers either require or prefer in-person meetings, meaning that you can lose clients simply by not meeting them in person.
That said the use of Zoom or Google will allow you to be more personal, especial during restricted travel due to the pandemic.
The refusal to network with customers can also affect business profits.
Executives reveal that they would lose 28% of their business if they stopped networking.
Trade shows are another terrific way to network for your business, and exhibitions are starting to happen again, along with virtual events too.
About 5-20% of customers are found through trade shows.
Furthermore, professionals say that networking with vendors (48%) and prospects (43%) are the top reasons they attend trade shows.
Building relationships through networking is the key to building trust and loyalty amongst all your business connections.
Without networking, many businesses would not be successful.