New research released by Vodafone UK suggests that business people tempted to spend too much time online 'social networking' are in danger of losing out to those that mix old methods with the new.
Despite the hype surrounding social networking sites, they are not the most favoured means of business communication. Popular meeting places include top restaurants where clients would expect to be treated to lunch (47%) or drinks at a private members club (26%), while more than one in ten still prefer to tee off a relationship on the golf course. Pubs are also a popular networking venue, with almost a third making the most of their lowered inhibitions.
The research also shows that while the telephone is still the most dominant networking tool (59% use it to network), phone usage with clients has also dropped by almost a third (30%) in the space of a generation when comparing those under and over forty. In fact, the thought of dealing with clients over the phone is so daunting that almost half of entrepreneurs in their twenties prefer to network online only.
The research, which surveyed over 1100 business people across the UK, also suggests that an online approach to client communication should not stand alone. One in five managing directors would not do business with anyone they hadn't met face to face, over a quarter would refuse business to anyone they hadn't at least spoken to over the phone and only a third have successfully managed to secure business using email alone.
Kyle Whitehill, Director of Enterprise, Vodafone UK commented: "Online networking is a huge phenomenon and one that will no doubt have an impact on some the ways business communicate and market themselves. When it comes to the basics of winning and keeping business, however, embracing all the various networking options may strike a better balance for business success."
Sahar Hashemi, who built the Coffee Republic chain from scratch with her brother, said: "Modern day communication tools have an invaluable role to play in business, but you can't replace the trust and understanding that comes from a face-to-face meeting. It's important to keep an open mind to new ideas but always remember there is a time to close down the internet, get out there, look the client in the eye and remember how to do business the way that works in the real world. "
Summary of key findings
Findings taken from a sample of 1172 businesspeople across the UK, including 266 managing directors/business owners and 906 managers. The research was conducted by Opinion Matters in October 2007.
Posted to the site on 12th November 2007
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