Expert Networks Accelerate Innovation. Find out how.

In an era of accelerated technological advances and rapid market evolution, the demand for expert knowledge about trends and emerging opportunities continues to increase with expert networks being able to meet this need by having the ability to offer access to insights that can fuel innovation.

It is therefore no surprise that in 2023 the global expert network market was valued at US$3.27 billion, with this figure predicted to grow at a compound annual growth rate of 16% to ultimately hit US$10.78 billion by 2032.

Did you know that Switzerland, Sweden, and the United States were the world’s most innovative countries in 2024, according to the world-renowned Global Innovation Index, while China, Turkey, and India have shown the fastest growth in innovation over the last 10 years?

In this article, we invite you to explore how expert networks are driving progress and shaping the future of innovation.

1. Facilitating knowledge sharing

Collaboration and sharing ideas are essential for innovation, and expert networks serve as the connecting wires between companies and experts to enable the exchange of niche insights that businesses may not access elsewhere.

For an organization entering unfamiliar territory or looking to innovate in fiercely competitive markets, such accessibility to practical knowledge is truly priceless.

2. Solving complex problems

There is not one business that has not at some point faced at least one challenge throughout its existence. Furthermore, much of the time companies have to solve multiple issues every day which means that they need to have access to experts with specific skills.

By connecting with the right professionals, expert networks help companies to receive tailored solutions to a wide range of challenges, including those of a technical nature and those aiming to minimize risk. This in turn optimizes processes, creates value, fosters innovation, and reduces the costs associated with a trial-and-error approach.

3. Advancing product development

The entire process of product development involves a long and bumpy road along which there are various challenges, such as being able to come up with the right ideas, carrying out prototype tests, and scaling production.

With the help of expert networks, businesses can streamline this process by connecting with seasoned professionals who can guide companies through every step, helping to dodge or resolve specific issues.

For example, a material science and engineering specialist could provide information on more affordable options, while a designer could improve a product's appearance to satisfy consumer trends.

Businesses can also gain an edge over competitors from these contributions as they not only shorten time-to-market but also improve product quality.

Choosing the Right Expert Network for Your Business

It is important to understand that not all expert networks are the same which is why, in order to be able to obtain the insights that can make a difference, it is important to choose the most appropriate one. Here are some things to consider when searching for the right expert network:

1. Industry relevance: Make sure that the expert network has access to professionals in your specific field of operation.
2. Diverse expertise: Search for those networks that can provide a broad spectrum of experts with the necessary skills and experiences.
3. Proven track record: It would be wise to select networks with a history of successful collaborations.

But what if instead of one expert network, you could contact several expert networks in a single place?

ENC platform helps to engage with several expert networks

Being able to get in touch with several expert networks using just one platform is something companies are increasingly looking for.

Expert network calls (ENC) is the platform that provides direct connections to a wide spectrum of experts.

Not only that – the platform can help you to streamline your projects, consolidate processes, and obtain up-to-date information to make better decisions.

It’s simple, with ENC you can:

1. Create a project
2. Invite up to five expert networks
3. Engage with every network
4. Compile your insights
5. Take advantage of free AI-generated recordings and transcripts
6. Request your invoice when you're ready

Book a demo and discover the potential of multiple expert networks.

Final thoughts

Leveraging expert networks is now a necessity rather than a luxury. Regardless of your role – product manager, innovation consultant, or entrepreneur – expert networks offer the tools and connections that can help you to remain competitive.