May 24, 2024

In today’s world, most use the internet to advertise goods and services or reach more audiences. Yet, it cannot replace face-to-face interaction, especially in businesses and jobs. This is because personal and professional growth requires us to build meaningful relationships with others.

Networking entails forming and nurturing relationships to share ideas, support, and information. You can build trust and rapport with people who can help you professionally through networking. According to the data, networking fills 85% of open positions today. We’ll look at some incredible statistics that might gear your mind toward networking if you haven’t started.

Key Statistics on Networking

Key Statistics on Networking

  1. As of 2021, there were approximately 4.9 billion internet users worldwide, representing over 60% of the global population. This number has likely continued to grow.
  2. Mobile devices accounted for a significant portion of internet usage. In 2021, over 53% of web traffic came from mobile devices, highlighting the importance of mobile networking and optimization.
  3. The adoption of IPv6, the next-generation Internet Protocol, continued to increase. By 2021, around 30% of all internet traffic used IPv6, as IPv4 addresses became increasingly scarce.
  4. Cybersecurity remained a critical concern. In 2021, there was a sharp rise in cyberattacks, with various types of attacks, such as DDoS attacks and ransomware, increasing in frequency and sophistication.
  5. The shift towards cloud computing and cloud networking was ongoing. Many businesses migrated their IT infrastructure and applications to the cloud, benefiting from scalability and flexibility.
  6. The rollout of 5G networks was underway in many countries. It promised faster internet speeds and lower latency, paving the way for innovations like IoT, autonomous vehicles, and augmented reality.

Industrial Statistics on Networking

Industrial Statistics on Networking

1. For Small Businesses, 64% Use Social Media to Market Their Products, While 36% Prefer to do so at Events.

Small businesses see the importance of combining both online and face-to-face networking. Online networking reaches out to more people than face-to-face networking. On the other hand, face-to-face networking builds a stronger network. Using both methods has become a necessity to maximize profits for small businesses.

(Source: Sprout Social)

2. In the Real Estate Business, 34% of the Closed Deals Were From Networking by Agents.

Real estate agents need referrals to grow and make their businesses more profitable. People who seek agents to help secure a new home or sell off their properties feel more comfortable working with an agent they previously worked with. In some cases, the agent could refer the services of another agent they trust to deliver. These are some of the benefits of face-to-face networking.

(Source: Labcoat Agents)

3. More Than 150 Insurance Networks Were Recorded According to an Insurance Network Study Conducted in 2022.

Networking has added immense value to the insurance business or market. Agencies in insurance are coming together to work as partners and share their networks and information for the same goals or targets.

(Source: Apollo Technical)

4. On the LinkedIn Platform, 73% of Professionals Secured Their Jobs After an Introduction to Someone They Know.

This statistic re-emphasizes the importance of networking in securing jobs. Networking brings about relationships, removing obstacles to securing job offers. You are more likely to be called for an interview when someone introduces you to a potential employer than when you apply alone. This is called the transfer of credibility.

(Source: Zippia)

5. 50% of the 31 Hours Used on Average Monthly for Meetings is Wasted.

Despite the importance of regular meetings in a business establishment, much time is wasted during meetings as they are not used effectively. Time is money, and when it is destroyed, it can significantly impact the company’s finances over time.

(Source: Novo Resume)

6. As of 2022, 65% of Entrepreneurs Prefer Face-to-face Business Trade.

Despite the increase in networking trends on the internet, especially from social media platforms, business owners still see the importance of face-to-face trade. They would rather combine it with online networking.

(Source: Team Stage)

Networking Demography Statistics

Networking Challenge Statistics 

7. In 2023, 69% of Facebook Subscribers are Young, While 37% are Older Folks.

One way to sell goods or services is to identify the people who need them. If your audience happens to be people of the younger generations, then Facebook will be a good place to consider networking.

(Source: Techjury)

8. In 2022, 57% of Male Employees and Applicants Got Their Jobs on LinkedIn.

An observation in 2022 showed that a lot of users on this platform were of the male gender. Of 930 million users, 57% of them were males who preferred using the platform to promote their businesses or jobs, with 43% of them as females.

(Source: Indeed)

9. 28% of Small and Medium Business Owners Network on Their Way to Work.

Some business owners love selling their business ideas in a relaxed atmosphere or environment to other people. This is why some prefer to chat with people while on a train or bus while going to work. A survey reveals that 38% of small and medium-scale business owners choose to network in restaurants or bars.

(Source: Finances Online)

10. Females are Responsible for Most Adverts (36.9%) on TikTok.

This data shows that female TikTokers garner more attention than the males. Thus, they secure contracts with brands to run ads for increased visibility. On the other hand, a report by Hoot Suite in 2022 revealed that TikTok recorded 670 million downloads globally, making it the leading platform for young people between 14 and 34 years old. It’s becoming the most popular entertainment platform, with more active users than YouTube.

(Source: Finances Online)

Social Media Networking

11. 74% of Small Business Owners Marketed Their Products on the Facebook Platform in 2021.

Small business owners have identified Facebook as a medium to grow their customer base because of its capacity to reach millions of their target audience. It is also affordable and effective.

(Source: Review 42)

12. Approximately 61% of the World Population is on Social Media, Amounting to an Estimated 4.88 Million Users as of 2023.

These high figures hint at the number of individuals, businesses, brands, etc., that social media has attracted to the digital world. According to a survey by Data Reports, the number of social media users has grown by 3.7% in the past 12 months. More than 173 million users joined various platforms with several accounts, which has caused a lot of traffic on the internet.

(Source: Market Splash)

13. In the Social Media Category, Facebook is the Largest, With Almost 3 Billion Active Subscribers Every Month.

Of the 8.1 billion people globally, 4.9 billion users patronize Facebook. When combined, the number of Facebook users is bigger than the total population of Canada, the US, and Mexico. Notably, the number of active users reduced once in 2021, with Facebook losing about 500,000 active users.

(Source: Techopedia)

14. 78% of Social Media Subscribers Access the Platforms Through Mobile Devices.

The data above implies that considering mobile devices’ convenience and portability, people use them for many internet and communication activities. Again, due to the on-the-go provision of mobile devices, they’ve become the most used mediums for accessing social media platforms.

(Source: Thrive My Way)

15. With $72.3 Billion Spent on Social Media Advertising, America Tops the Rank, Followed by China.

From a global point of view, advert expenditures on social media came mostly from America, with an estimated $72,330,000 million as of 2023. $85.31 billion is projected to be spent on the social media advertising market by 2027. Also, in the same year (2027), social media subscribers are expected to reach 327.2 million users.

(Source: GoRemotely)

Virtual Networking Statistics

Virtual communication Stats

The lockdown policies initiated during the pandemic gave rise to virtual/online networking as people found more reasons to work remotely and safely from their homes. Although the lockdowns have been revoked, online networking has continued to thrive. Let us look at the relevant statistics to understand its performance so far.

According to a survey by ScienceDirect, LinkedIn is the most popular social networking platform for professionals and has over 660 million subscribers across 200 countries globally.

(Source: Fit Small Business)

17. Online Networking is Chosen by 40% of People Over Face-to-face Networking.

Aside from the ability to reach out to more people via online networking, another advantage is the convenience that follows suit. It eliminates stress and major financial costs that could be incurred during physical meetings.

(Source: BusinessDIT)

18. Facebook is the Most Used Job-seeking Platform, With 67% of Job Seekers Creating Awareness.

A survey by Jobvite shows that Facebook and LinkedIn are most frequently used by jobseekers, with Facebook drawing more than 1 billion jobseekers globally. A new feature, BUSINESS PAGE, by the parent company of Facebook, Meta, has enabled people to see job opportunities and apply on Facebook.

(Source: Sprout Social)

19. 67% of Networking is Done Through Emails.

Communication between business establishments and clients is usually done via email during networking. This is one of the reasons smart business owners download email marketing apps to create awareness of their products while building a medium to communicate with prospective clients or customers.

(Source: Labcoat Agents)

20. As of 2022, the Most Frequently Used Platform was Slack, With 52% of Users, While Zoom Comes Next With 47% of Users.

During the COVID-19 pandemic, people devise new ways of doing business and communicating remotely, especially during meetings. Developers developed apps like Slack and Zoom to meet the need and thrived long after the pandemic (2022). In the same year, Slack had more than 470,000 customers who paid for the services on the platform. It was followed closely by Zoom as a medium for remote communication and professional meetings in several businesses across different industries.

(Source: Apollo Technical)

21. Reviews on the Advantages of Networking Show That its Impact on the Health Sector has Been Positive.

Networking has contributed to proper coordination in the health care department. People needing medical attention can get the best medical services through referrals from friends or family members. Also, medical establishments network by creating awareness of their services and providing communication channels so clients can reach out through email. It helps to share patient data between two or more medical facilities.

(Source: Zippia)

Networking Challenge Statistics 

Challenge Stats

Several factors are responsible for some people not engaging in networking. Let us find out what they are:

22. A Minority of Job Seekers Do Not Engage in Networking Despite the Huge Significance of Connection.

Research indicates that individuals seeking employment often hesitate to contact their mutual connections. Conversely, employed professionals recognize the significance of networking, with a substantial 79% acknowledging its importance in career development and advancement. Nevertheless, 38% of those already employed find maintaining contact with their professional network challenging.

Social class dynamics explain why some individuals avoid leveraging their connections when searching for jobs. Certain job seekers may experience feelings of embarrassment about their unemployment status, particularly when comparing themselves to friends who have progressed in their careers. To avoid being perceived as “unsuccessful,” they may remain isolated and miss out on utilizing their network.

(Source: Novo Resume)

23. 82% of Black Professionals Rarely Engage in Networking With Less Than a Month Participation.

In professional organizations and social gatherings worldwide, individuals of African descent often find themselves in situations where their representation is notably limited. This lack of representation can pose challenges for them regarding networking. Additionally, there is a genuine concern among some individuals about facing discrimination based on their racial background.

(Source: Team Stage)

24. Professionals That Sustain Their Network are Just a Few, Represented by 48%.

An overwhelming 76% of professionals worldwide agree that networking is a powerful tool to grow businesses and secure jobs. However, only a substandard 48% can maintain healthy networking with people.

(Source: Techjury)

25. Only About 42% of Job Seekers Engage Their Existing Network.

Despite being aware of the power of networking, especially in helping to secure jobs, only 42% resort to pre-existing networks while looking for jobs. Most of them have a significantly reduced chance of securing a job. Some people are uncomfortable contacting their networks for help or recommendations.

(Source: Indeed)

26. More Than 50% of Employees Who Lost Their Jobs After the Pandemic Refused to Use Their Network.

As an after-effect of the pandemic, many people lost their jobs and were unwilling to utilize their existing network. Many deliberately avoided public functions because of the shame of losing their jobs and being unable to face people they know, considering their current unemployment status.

(Source: Finances Online)

27. Cybercrime Rate Escalated by Over 600%.

Cybercrime was low before the pandemic, but following the increase in online traffic from networking, there has been an increase in cybercrime. China is leading the way in the number of cyber-attacks globally.

(Source: Finances Online)

Final Thoughts 

The significance of in-person networking cannot be underestimated, as many businesses would suffer without it. Its importance is so great that even with the rise of online networking, developers continually strive to enhance virtual networking to make it more personalized. Their achievements will foster a stronger connection between clients and business owners, a key advantage of in-person networking over its digital counterpart.

Networking isn’t solely about what others can offer you; instead, you should actively seek ways to contribute to the growth of your network. Your contributions can ultimately determine the success of your network. Therefore, it is advisable to approach network building with authenticity and a deliberate intention.

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