Navigating the Expert Network Landscape: Survival Strategies for New Entrants

Information is power. Companies are always in search of nuggets of knowledge that could help them to make better decisions. This is one of the reasons why expert networks are thriving.

Indeed, with a compound annual growth rate of 16% and a projected value of over $10 billion in the next six years, together with the industry’s low entry barriers, the expert network sector has seen a significant number of new platforms, despite the significant pool of players already dominating this market.

However, as some industry gurus conclude, the path from start to profitability is crowded with obstacles to the point that less than half of new expert networks survive for more than three years.

This is exactly why newly launched expert networks should be aware of the harsh realities of this business and ask the question, “What does it take for a new expert network to last?" This article will attempt to answer this question.

Why is scaling the true test for an expert network?

Launching a service to connect business clients with specialists may initially seem straightforward, but scaling such a platform involves navigating a complex web of operational, financial, and interpersonal challenges.

Acquiring clients and why quality tops quantity

When attracting clients, remember to focus on quality, not quantity. Management consultancies, Fortune 500 companies, and private equity firms prioritize partnerships with established, reputable vendors.

Newly launched expert networks must develop lasting connections with just a few customers to increase the chances of success.

Overcoming the compliance challenge

Clients opt to work with fewer expert networks to make things simpler and easier to manage, particularly for legal and communication reasons.

Big firms such as private equity companies and top consultancies only want to work with vendors who have very strict rules and systems in place to remain compliant.

If a new company wants to enter this market, it needs to either provide a one-of-a-kind service that others cannot match or focus on a specific area where there are more opportunities.

Focusing on speed, expertise, and adaptability to survive

New expert networks need to concentrate on three things in order to remain competitive: speed, expertise, and adaptability.

Go beyond the price

Trying to attract clients with lower prices won’t get you very far. Instead, top expert networks choose to provide operational excellence, which includes thorough vetting and rapid expert recruiting (typically within 24 hours) to acquire clients.

Clients who pay well don’t want to wait while you search for experts from scratch. They want experts who are already vetted and ready to go, which is why for an expert network it’s so important to have a strong database.

The expert conversion challenge

New market entrants ought to know that it takes an immense amount of time to convert potential experts. Expert network associates often reach out to up to 100 candidates but only secure two to three interviews for a project.

In a pool of trustworthy businesses, getting experts to trust a new expert network requires constant persistence and transparency.

Trust is more precious than transactions

Expert network clients don’t often leave feedback, and this is understandable as they are busy and simply don’t have the time, but consider the opposite: if the result is extremely dissatisfying, it is more likely the client will leave feedback as bad experiences often trigger clients to do so.

On the Expert Network Calls platform, there are networks that have become successful by prioritizing action over validation. They earn loyalty through resilience and a tailored service, ensuring clients return without prompting.

The idea is simple: if an expert network has done its job, then the client is likely to come back. In this scenario, it might be a good idea to embrace the “client is always right” philosophy.

Being flexible, responding to last-minute requests, and adjusting to time zones develops loyalty and trust that are difficult to replace.

The growth ceiling for expert networks

Growth limits are inevitable in the expert network market. The limited number of elite clientele (MBBs, PE firms), which isn’t growing at an exponential rate, limits demand.

Expert networks must vary their products if they are willing to grow. Diversification includes data analytics, embedded compliance instruments, or related services such as market research.

Here’s a brief breakdown:

1. Start small to build trust by offering helpful add-on services (research, audits, or basic consultations) to attract new clients and demonstrate your value.
2. Once clients trust you, start providing them with higher-value offerings, such as access to expert interviews or premium advice.

A selection of expert network new market entrants

Expert Network Calls has gathered together more than 140 expert network profiles in its Expert Network hub. Three of those platforms are worth mentioning in this article due to their activity and efforts. Use these to find a trusted supplier or join ENC to do the same.

Green Minds

Founded in 2021, Green Minds is a global expert network based in New Delhi, India.

It offers 1-on-1 expert interviews, pulse studies, focus groups (DYADs, TRIADs), and consultant-led research support. It carries out B2B surveys, Knowledge, Attitude, Practice (KAP) studies, Awareness, Trial, Usage (ATU) surveys, and healthcare insights. It also provides multilingual support.

See the full company profile.

ProPanel

Founded in 2024, ProPanel is an on-demand expert knowledge platform based in Shifnal, in the United Kingdom. It combines human-centric technology with advanced research tools.

Its core services include 1:1 consultations, in-person meetings, long-term engagements, surveys, market analysis, expert documentation, as well as multilingual support, and consultation recordings and transcripts.

See the full company profile.

IQExperts

IQExperts was founded in 2024 and is a global expert network and primary research firm headquartered in Germany that was established by a team of investment bankers and private equity professionals.

Its core services include 1-on-1 expert or team consultations, long-term engagements, and industry conferences.

See the full company profile.

Final word

Newly created expert networks must take into consideration some tough truths: growth is slow, feedback is limited, and margins are tight. However, if they want to increase the chances of growing in the long run, then they should consider agility, personalized service, and smart client targeting.