The Value of Choosing the Right Expert Network

  • Anuj Saxena

    Anuj Saxena, a Founding member of Knowledge Ridge, currently spearheads Global Strategic Partnerships and is a renowned thought leader in the Expert Network domain.

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<p><img src="" alt="The Value of Choosing the Right Expert Network " width="1024" height="512"></p><p>Selecting a network of experts wisely acts as a compass, helping organizations navigate the complex terrain of industry nuances with accuracy and clarity. The real value isn't just in making information easily available; it's also in building an ecosystem of experts whose combined knowledge serves as a catalyst for accomplishing organizational goals.</p><p>Competition, geopolitical changes, digital transformation, ever-changing regulatory landscapes, and most importantly, evolving consumer behavior and expectations are all key factors that dictate business growth. So, in this technology-driven environment, where information gets outdated very quickly, how do businesses gain the required information, insights, or expertise to succeed and be ahead of the competition?</p><p>The answer is <strong>Expert Networks</strong> that find, approach, shortlist, vet, and connect businesses with the right experts without wasting time. It&rsquo;s a win-win for organizations as they get access to the most relevant insights, expertise, and quick turnarounds with minimal involvement.</p><p><a class="btngs" style="padding: 8px; color: white !important; text-decoration: none !important;" href="" target="_blank" rel="noopener"> Connect with Our Expert Now</a></p><h2><span style="font-size: 14pt;"><strong>Consider This Scenario:</strong></span></h2><p>A <a style="text-decoration: underline !important; color: #16acef!important;" href="" target="_blank" rel="noopener">Global Think Tank based in Asia</a> required relevant expert insights on the strategic planning for consumer discretionary automobile goods and components in the Asian market and globally. The specifics ranged from product strategy, platform strategy, and R&amp;D&nbsp;from Japanese, German, and American OEMs that dominate the global automobile market.</p><p>The Global Think Tank firm hired subject matter experts through Knowledge Ridge for first-hand insights into the competitive marketplace and strategic analysis in this space. The experts were curated from senior global professionals with relevant automobile components and&nbsp;OEM experience.</p><p>In addition to the case study, here&rsquo;s <a href="" target="_blank" rel="noopener">an expert&rsquo;s view on the evolving EV market</a> and the impact of other disruptive innovations in the automotive industry.</p><h2><span style="font-size: 14pt;"><strong>What Is an Expert Network?</strong></span></h2><p>An <a href="" target="_blank" rel="noopener">expert network</a> is a business that connects organizations with industry experts, also known as subject matter experts (SMEs), to provide information to help substantiate a client&rsquo;s hypotheses or solve their business challenges.</p><p class="bbox"><em>Expert Networks connect organizations that&nbsp;seek specific expertise&nbsp;with experts who possess it. These experts provide relevant information and help the organization use that information to develop strategies.</em></p><p><a href="" target="_blank" rel="noopener">Investment management firms</a>, <a href="" target="_blank" rel="noopener">professional service firms (PSFs)</a>, and <a href="" target="_blank" rel="noopener">corporations</a> use expert networks to <a href="" target="_blank" rel="noopener">find subject matter experts </a> and facilitate sharing of information between the SME and the client.</p><p>Expert Networks:</p><ul><li style="list-style-type: none;"><ul style="padding-left: 17px;"><li>Save the client&rsquo;s human hours by finding relevant experts specific to the client's project requirements through in-depth customized research</li><li>Conduct a meticulous phone vetting process for SMEs based on project requirements</li><li>Provide a quick turnaround time (TAT)</li></ul></li></ul><h2><span style="font-size: 14pt;"><strong>How Do Expert Networks Work?</strong></span></h2><p>Expert networks emerged as a result of the high demand for the specialized set of skills that some businesses require to enhance their research, fill in their knowledge gaps, and help steer quick decision-making.</p><p>To initiate the process of finding a relevant SME, the expert network asks the client to compile a list of the criteria or the project requirements the subject matter expert must meet. The expert network uses this information to search and vet SMEs who match the client's specifications.</p><p>&nbsp;</p><p style="text-align: justify;"><img src="" alt=" Expert Network Clients" width="1024" height="512"></p><p>For the most timely and actionable intelligence, the client can choose their preferred method of communication with experts:</p><ul><li style="list-style-type: none;"><ul style="padding-left: 17px;"><li>They can leverage <a style="text-decoration: underline !important; color: #16acef!important;" href="" target="_blank" rel="noopener">expert calls</a> to engage in one-on-one discussions with relevant experts or participate in multi-participant phone consultations.</li><li>They could use targeted or custom <a style="text-decoration: underline !important; color: #16acef!important;" href="" target="_blank" rel="noopener">expert surveys</a>, in which an expert panel provides tailored answers to key questions to help speed up decision-making at a fraction of the cost.</li><li>They can consult with experts for longer-term assignments, project deliverables, reports, or workshops.</li></ul></li></ul><p>Expert networks have two fee models - subscription-based and pay-as-you-go. In a subscription-based fee model, firms get value-added services and regular access to the experts for a pre-determined flat fee. In the pay-as-you-go fee model, expert networks charge their client per interaction. The duration of&nbsp;<a href="" target="_blank" rel="noopener">expert term engagement</a> can be a fixed-term contract or on a service-as-needed basis.</p><h2><span style="font-size: 14pt;"><strong>Choosing the Right Expert Network</strong></span></h2><p>Irrespective of the industry, it is vital to identify the best-suited <a style="text-decoration: underline !important; color: #16acef!important;" href="" target="_blank" rel="noopener">Expert Network firm</a> for you. <a href="" target="_blank" rel="noopener">Choosing the right Expert Network</a> can be tricky, especially if it is going to be a long-term engagement. But how do you locate expert consultants for specific knowledge bases or skill sets?</p><p>It helps to ask yourself a few questions before you decide:</p><ol><li style="list-style-type: none;"><ol style="padding-left: 14px;"><li style="padding-left: 3px;">Do they have relevant experts who have been specially vetted for your project needs, resulting in a successful engagement?</li><li style="padding-left: 3px;">Are their experts rooted in the subject or industry to ensure knowledge transfer is actionable?</li><li style="padding-left: 3px;">Do they have a competitive pricing strategy in place?</li><li style="padding-left: 3px;">Do they have a high <a style="text-decoration: underline !important; color: #16acef!important;" href="" target="_blank" rel="noopener">Expert Acceptance Rate</a> (experts sent vs accepted)?</li><li style="padding-left: 3px;">Do they have a quick turnaround time to provide timely insights when needed?</li><li style="padding-left: 3px;">What are the areas of support you seek from the Expert Network?</li></ol></li></ol><p>You must ensure that the expert network being considered has a&nbsp;solid compliance framework that can be tailored to your specific requirements.</p><p class="bbox"><em>The expert network firm you choose&nbsp;should be able to assist you in filling a knowledge gap, providing an overview of a market or region, and validating existing data gathered through primary and secondary research.</em></p><p>The expert network firm you select should provide you with access to the relevant data you require, whether it is global, regional, or industry-specific.</p><h2><span style="font-size: 14pt;"><strong>Accessing Expert Networks</strong></span></h2><p>Time is of the essence in everything we do. Working with an Expert Network is no different. Being easily approachable is key for an&nbsp;Expert Network&nbsp;to establish itself in the market, and the ease of accessibility is one of the most significant aspects organizations should look for before choosing an Expert Network.</p><h2><span style="font-size: 14pt;"><strong>The Knowledge Ridge Advantage</strong></span></h2><p class="bbox"><em>Our <a style="text-decoration: underline !important; color: #16acef!important;" href="" target="_blank" rel="noopener">Expert Acceptance Rate</a> (experts sent vs accepted) is 64%, courtesy of our meticulous phone vetting process. Our <a style="text-decoration: underline !important; color: #16acef!important;" href="" target="_blank" rel="noopener">Engagement Success Rate</a> (experts engaged successfully) is 99% and 98% of our clients return to us with new projects.</em></p><p><a style="text-decoration: underline !important; color: #16acef!important;" href="" target="_blank" rel="noopener">Knowledge Ridge </a>is a one-stop shop for organizations seeking industry-specific knowledge that can be used to streamline processes, accurately project business outcomes, and drive strategic transformations.</p><p>Knowledge Ridge has a robust network that makes experts easily accessible. Our presence in <a href="" target="_blank" rel="noopener">APAC, EMEA, and the Americas</a>, experts in 80+ countries across 158 sub-industries, and local language capabilities make it easier for organizations to approach us.</p><p>At Knowledge Ridge, we constantly evolve and offer <a style="text-decoration: underline !important; color: #16acef!important;" href="" target="_blank" rel="noopener">expert network services</a> based on our client&rsquo;s precise and explicit needs. Our experts possess the relevant industry know-how to conduct due diligence, market research, competitor analysis, surveys, and more to help develop business strategies aimed at growth and success.</p><p>Rigorously screened via an in-depth phone interview process, our on-demand and in-demand vetted subject matter experts assist businesses with tasks such as developing a business strategy, <a style="text-decoration: underline !important; color: #16acef!important;" href="" target="_blank" rel="noopener">conducting market research</a> and establishing thought leadership.</p><p>Our competitive advantage is a trusted combination of relevance, turnaround, cost structure, value-added services, high customization, effective curation, and rigorous compliance.</p><p>Contact us today to&nbsp;connect with seasoned and professional experts&nbsp;who can help your company reach its full potential.</p><p><a class="btngs" style="padding: 8px; color: white !important; text-decoration: none !important;" href="" target="_blank" rel="noopener">Connect with Expertise Now</a></p><h3><span style="font-size: 18pt;"><strong>Frequently Asked Questions:</strong></span></h3><h2><span style="font-size: 14pt;">How do I find industry experts?</span></h2><p>You can find industry experts through an expert network. Expert Network firms provide custom-vetted subject matter experts (SMEs) with the highly specialized expertise of a subject, industry, technology, or vertical. Expert networks connect organizations or individuals needing specific knowledge with experts who have it. These experts assist you in locating relevant information and utilizing that information to develop strategies.</p><h2><span style="font-size: 14pt;">How do I choose an Expert Network for my requirements?</span></h2><p>You can choose an expert network based on a few factors like:</p><p><strong>Project requirements</strong></p><p>Your project's scope will determine which type of expert network is best for you. If you are looking for a longer-term commitment and require regular insights into a wide range of industries and regions, you should work with an expert network with a global reach.</p><p><strong>Expert network end-to-end support and specialization</strong></p><p>If your project necessitates highly specific public information (not proprietary or non-public in nature) from difficult-to-find experts, it may be worthwhile to collaborate with an expert network that has access to a particular industry, country, or region. For instance, projects that pertain to certain local markets need very specific input from the right subject matter experts who understand the local nuances.</p><p>When working with an expert network, it is critical to have end-to-end support right from&nbsp;the inception of a project until the required data or information is delivered and you, the client, are satisfied. The expert network should adapt the workflow and research to your evolving requirements.</p><p><strong>Ease of access</strong></p><p>The expert network you choose should be solution-focused and have a quick response time. Another factor to consider here is which pricing model suits you best. Is there a minimum subscription amount required by the expert network, or can you "pay as you go"?</p><p><strong>Compliance</strong></p><p>The expert network should have a <a href="" target="_blank" rel="noopener">robust compliance framework</a> that can be customized to your specific requirements.</p>

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