Professionals across industries recognize the value of the expert network — according to an analysis by Integrity Research and Inex One, the expert network industry reached a size of $1.5 billion in 2020. Whether a business is planning an acquisition, a product launch, or large-scale rebranding, an expert network can provide valuable insight.
How can expert networks help companies keep ahead of the competition?
If we’re spending $60 with a panel and the participant is getting a dollar, we could have just gone to the bottom of the bucket and recruited 60 times as many people as we needed. One of the things that we like about NewtonX [is that] we know that the participants are getting a much higher incentive and it makes it worth it for the right people to participate in the research. Cristian Dumitru Developer
Regardless of the industry a given business operates in, it’s always essential to keep up with — or better yet, stay ahead of — the competition. Expert networks are made up of the best qualified professionals to speak on their industry or field. As a result, they’re a great source to turn to for competitive intelligence.
How does B2B expert network research help companies move business across borders?
Say your company is considering expanding its business overseas. Before doing so, understanding the nuances of the local market in whatever nation you’re considering entering is essential due-diligence. Consulting with an expert network made up of industry professionals who are familiar with the market you’re considering entering can help give a sense of who your most important competitors will be, what the general consumer trends are in the market, how other companies have succeeded and failed, etc. — in other words, an expert network can provide you with crucial insights that will help you avoid grave errors and increase your likelihood of success.
How does B2B expert network research help companies keep up with the changes happening in their industry?
When running a business, even the most diligent observers can’t keep track of every trend in their industry. However, by turning to an expert network, decision-makers can benefit from the collective knowledge of professionals whose paychecks depend on their ability to offer to-the-minute insights by remaining aware of the latest industry trends. Using an expert network takes some of the load of vetting the accuracy of data off the shoulders of decision-makers. Instead, they can focus on more top-level, strategic matters without second guessing themselves.
What’s wrong with traditional expert networks?
While traditional expert networks undeniably have a lot to offer to decision-makers, they aren’t perfect. The helpfulness of an expert network is directly proportional to the expertise of its members. And no expert network can possibly include every professional who’s qualified to speak on a given subject. Because traditional expert networks are closed — that is, they have their pool of experts to access, and that’s all — they’ll never be able to tell the whole story.Thankfully, decision-makers no longer have to settle for a closed network. NewtonX’s proprietary Knowledge Graph and Custom Recruiting research methodology turn traditional B2B expert network research on its head. Rather than starting with a closed pool of potential experts, we scan an open network of 1.1 billion professionals worldwide, narrowing in on the perfect people to answer any business question. It’s like organizing a unique expert network for every possible problem.Our approach perfects the already useful expert network model. By leveraging the power of AI, NewtonX can find precise matches for any use case, and reach out to these people at three times the speed of traditional networks. Additionally, NewtonX screens these experts often within 24 hours to ensure that clients get the best stakeholders to give them the information they need for robust due diligence. This custom recruiting combined with human screening gives you the best possible respondent in the shortest possible time frame.
