How SMEs can build their digital networks in the pandemic era

Pandemic-related safe-distancing measures and travel restrictions have caused many in-person networking activities to be called off. In Malaysia, just a few months into COVID-19, it was estimated that more than 1,250 business events had been either postponed or cancelled up to August 2020¹. The ensuing economic fall-out aside, this has likely prevented many SMEs from growing their professional relationships.

But rather than wait for 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 in-person networking events are largely on hold, SMEs can take advantage of digital organisations to grow their business contacts despite pandemic restrictions. While these portals may not be the same as the traditional face-to-face experience, they can still go a long way towards helping you establish new connections and join communities.

The good news is that there are many different networking groups that allow for such relationships to be forged online through virtual meetings, events and networking sessions. You just need to find the right ones to cater to your business interests and connection goals.

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 events² – 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 worldwide³. 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 created⁴.

The widespread 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 events, add industry contemporaries to your network and increase your reach by producing thoughtful content. Using LinkedIn frequently has been shown to yield significant networking benefits, with increased usage leading to an enhanced professional status⁵.

Participate in insightful conversations on Clubhouse

One popular networking tool to emerge from the pandemic was 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 users⁶, and counts famous names among its user base. Key opinion leaders such as Reddit co-founder Alexis Ohanian⁷ and the CEO of Tesla and SpaceX, Elon Musk⁸, have hosted events of their own. Closer to home, influential Malaysian figures have also used the platform to reach new audiences⁹.

Besides gaining free access to enriching dialogues among 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 reaching out to someone you encountered during a talk.

Expand your reach through 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 may not be traditional networking platforms, they still wield enormous clout in terms of popularity and influence. TikTok is currently one of the world’s fastest-growing social channels¹⁰, offering access to more than a billion worldwide users¹¹.

You can join relevant community groups on Facebook, and follow and interact with individuals 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 users, and generate engaging content on TikTok that can allow your business to reach new audiences. With their combined reach, these channels can allow you to connect with individuals beyond your existing networks, thereby opening the door to fostering new relationships that can help your business grow.

Implement a digital strategy across your entire organisation

Aside from taking advantage of online platforms to enhance your business connections, you can also employ other digital tools to streamline your operations.

One sure-fire way to automate key processes is by drawing on UOB SmartBusiness solutions. The package consists of an integrated suite of services that digitise core processes traditionally carried out manually – such as accounting, payroll and HR operations – for a more seamless experience. When paired with a robust online-networking strategy, deploying UOB’s services can give your business that all-important digital edge in business while in-person interactions remain relatively scarce.

UOB SmartBusiness offers all the necessary solutions you need to automate core business processes. Contact us today to discover more about how our comprehensive range of services can help you forge ahead in your digital-transformation efforts.