As the saying goes, “It’s not what you know, it’s who you know.”With so many changes hitting the business landscape in the last few years, we see the shift towards new ways of networking among C-level executives where an increasing number of top managers prefer virtual and hybrid formats of consuming content and building new connections. Many are also exploring options to enhance their experiences while networking online and offline – such as integrating novel inventions like the digital business card and going beyond professional insights sessions.
Here are some ways C-level executives are networking in 2024:
1. Attending Virtual Insights Sessions
The mass transition to virtual space in the last few years has led to the opportunity for executives to learn from some of the best minds in the world in emerging and technical fields such as generative AI, quantum computing, and enterprise architecture directly from the comfort of their homes and offices. It also gives CxOs the chance to engage with their peers from other countries, which is an effective way to cultivate a wider professional network.
The appeal of virtual insights sessions includes:
Instant connections over chat:Chat functions of online discussions and forums connect executives to a larger audience than typical in-person sessions.
Direct expert engagement:Attendees can directly interact with the expert who is presenting the session, participate in Q&A, and drive discussions on the most interesting and urgent topics.
Ease of access:Joining in from anywhere at any time and being able to access the session after it’s ended.
2. Joining Brainstorming Sessions
The need to exchange ideas and share challenges has become more urgent, especially with the unprecedented pace of technological advancements. Roundtables, forums, panels, and moderated group discussions have become a staple for executives who want to stay up to date with industry trends, whether in-person or virtual. These are as convenient as they are efficient.
Studies show that 40% of executives network more online than in-person as there is less pressure and more flexibility (Fit Small Business). This sentiment continues even as in-person events pick up again. According to our data, 80% of C-suites find moderated peer-to-peer discussions useful.
These sessions allow executives to:
Quickly and efficiently connect with peers from across industries and countries.
Exchange ideas, experiences, and solutions on pressing topics affecting their industry in the time it takes to finish their morning coffee.
3. Learning from Leadership Development Keynotes
Today’s CxOs are prioritizing personal development as much as professional growth. Not only do they want to gain new skills, but they also want to develop new mindsets that will help them become better leaders. Many executives find turning to inspirational keynotes by world-renowned speakers to be valuable, particularly as they adjust to the hybrid world.
Attending these sessions also creates space for executives to discuss specific challenges with their peers who are likely to be experiencing similar challenges either to find a solution together or simply commiserate over a tough situation.
This sentiment is supported by our finding that shows over 400 CxOs attended the inspiring leadership-focused keynote talks by Duncan Wardle and Mel Robbins, rating the speakers 4.9 out of 5. Since then, renowned experts such as Adam Grant and Simon Sinek have graced our stage as well, offering valuable ideas on leadership and strategic thinking.
4. Maximizing Hybrid Networking
Though the professional virtual networking element provides a multitude of advantages, many executives still enjoy socializing with their peers in person. SDSU found that 84% of professionals still enjoy the opportunity to interact face-to-face.
There is value in face-to-face networking and connection. This is particularly so for senior executives, 70% of whom feel isolated and lonely due to the nature of their jobs. Countering this via networking in non-business settings has gained popularity among executives – such as wine tastings, cooking classes, and fine dining.
Social gatherings present:
Opportunities to form a closer bond with their peers over shared interests and hobbies.
A fun and engaging way to strengthen and maintain professional relationships.
5. Meeting Virtually with Potential Vendors
Another innovation introduced by the pandemic is virtual sales meetings. Like the virtual insight sessions, being able to hop into a virtual meeting room is more convenient, cost-effective, and time-saving for busy C-level executives.
Instead of having to travel for a few weeks every year to attend tradeshows and exhibitions or directly to a potential vendor’s office for an exploratory meeting and sales pitch, executives can do all this online. In fact, 85% of C-levels are more eager to join a 30-minute virtual meeting than an in-person one (LinkedIn).
These vendor meetings are an excellent avenue for executives to expand their network of potential strategic partners. The convenience of meeting online means executives can swiftly identify if a potential vendor is worth further exploration and build a network of solution providers they can tap into when needed.
6. Using Digital Business Cards
One of the classic things about in-person networking is exchanging business cards with the people you meet – whether out of formality or a genuine desire to stay in touch. However, the traditional business card can be easily lost, difficult to organize, and tedious to refer to.
Savvy executives are now opting for digital business cards instead. An executive can simply have a single NFC-enabled card or QR code that contains their details. To ‘exchange’ cards, they can simply tap it on a person’s phone (or have their QR code scanned) and watch as their details are downloaded instantaneously. This novel and exciting new business card is:
Instantly accessible:Executives can have their contact information available at any moment
Eco-friendly:Instead of stacks of business cards that can run out, executives will only have a single card to carry around.
Seamless and effortless:With just one tap, executives can exchange contact details with new peers. This is especially useful at events where they’ll meet dozens of people in just a few hours.
Enables real-time updates:With a digital business card, CxOs can not only share more information in an instant – such as ongoing projects and interest areas – but also update any information when needed.
Dynamic:Having a digital card opens the door to creating a more interactive presentation of their professional self as opposed to a static logo on a piece of paper.
7. Diversifying their network
On a macro level, C-suite executives understand the value of diversity in their organizations. Plenty of research supports the suggestion that a diverse workforce leads to increased creativity, innovation, and employee satisfaction which in turn boosts productivity and revenue. Companies that lack diversity, in turn, suffer. McKinsey found that companies in the bottom quartile of gender and ethnic diversity within their executive teams financially underperform by about 66% compared to top-quartile companies.
Similarly, executives are looking to inject diversity into their professional networks as well as recognize the benefit of different perspectives and insights. Executives are actively looking beyond their industries, sectors, and functions to build a robust network – joining different events and social gatherings that bring together their peers from across the board. For example, Aurora Live’s Executive Days and CxO Connections feature tech and business leaders from various industries and functions in a space where executives share ideas and engage in lively discussions together.
“A diverse mix of voices leads to better discussions, decisions, and outcomes for everyone.”
