The Growth of the Expert Network Industry

The success of the industry

The expert network industry is forecasted to grow at a CAGR of ~18% between now and 2028, suggesting that, in addition to its current success, it has tremendous potential in the future. In a way, expert networks act as middlemen, bridging the gap between experts and the researchers or companies that need to gain access to their insights through one-on-one interviews, focus groups, or surveys. Considering that people often want to cut out middlemen in business scenarios, the continuous inclusion of expert networks in the research processes of various companies begs the question: why is it that expert networks are in such high demand?

Efficiency

The first reason that expert networks are so successful is that they are undeniably efficient. Clients can approach a vendor with their research needs and they can expect to be promptly connected with experts that they may not have been able to connect with otherwise. This promptness is a result of the fact that expert networks tend to have a vast collection of in-network experts that span across various industries, levels of seniority, and specialities. For example, here at Zintro, we have over one million in-network experts and professionals that we can quickly contact and connect our clients with, and if a particular, niche expert isn’t in our network, we use our specialty recruitment analysts to custom recruit exactly who our client is looking for. While a client could technically connect with experts and professionals through their own means, their processes may not be nearly as streamlined as those of a vendor. Expert networks are well oiled machines that are accustomed to quickly finding the people that their clients need, so by employing one to help with their research, clients have more time to do the work that they do best.

Cost effective

Collectively, all of the expert networks in the industry help to save companies a significant amount of money. How? They save them time. It has long been said that time is money, and the time spent searching for the perfect expert or professional is no exception. By outsourcing the task of finding the proper fit, companies can use their time more wisely because they won’t be left looking for experts that they may not have the resources to find. Instead, they can focus on the tasks that are most important to their roles, and let expert networks focus on what they do best.

Supporting company harmony

Sourcing experts can be difficult, and when an individual within a company who is inexperienced, busy with other tasks, or in need of assistance is tasked with doing so, it can lead to unnecessary stress and frustration in a work environment. For those not keen on conflict, I suspect that they’d prefer to keep their work environment as harmonious as it can be, and while it may not be an obvious benefit of expert networks, they can play an important role in minimizing stress. When working with an expert network, the complexities that come with sourcing experts are, in many ways, out of your hands. The employees at these networks are, for lack of a better word, experts, at finding experts. They take the burden of finding professionals off of the shoulders of employees who, perhaps, never had the expertise to be doing the in depth sourcing to begin with. Moreover, if a problem arises during the project, the issue can be taken care of promptly by an individual who knows how to handle it. All in all, expert networks help to reduce conflict in the workplace because they take on the tasks that a company's employees may not be equipped to handle.

Try it for yourself

If you’re a researcher in need of experts and professionals, and the benefits of expert networks sound appealing to you, perhaps try using one yourself.

Written by: Sadie Estey