TalentBar wrote an interesting article today on the value, and declining value, of information provided by social networks such as LinkedIn. My own company, Xpand, are expert at using social networks to find information, however it can become easy for anyone (ourselves included) to get caught up in the vastness of this information. Excerpt from Time to get beyond LinkedIn:
Twenty years ago, you had to build contact information databases the old fashioned way: a ton of cold-calling. But this aspect of our business is going the way of $2 gasoline.
We have to move beyond this initial shock of so much contact data. Master the tools, but then move on – because the value of that simple data is declining every day. Remember, executive recruiters and their clients often know the five obvious potential candidates. So why do they use a recruiter?
Whether you’re in recruitment or any other industry that may require you to gather corporate information, there is a lot of evidence to suggest these tools are highly valuable, but are also losing their value. Clients now have access to our networks and are motivated to use them as cost-cutting methods to outsourcing recruitment.
Value the data you have at your fingertips, but don’t allow the vastness to confuse the fact that the data you have is useless if you do not utilise it as urgently as you would any other lead available in your network.