It's Time to Join the Network
Michael Cairns
Head of Partner & Channel Development @ American Psychological Association | Prior: CEO & Founder, Bowker, Ingenta, Mywire.com
Take a look at my quick survey of some of the expert network and consulting platforms which you may want to join. See the link to the free report below.
Expert Joining In
So called ‘expert networks’ have grown substantially over the past fifteen years; so much so that the marketplace might be considered fractured. While there are some large, long-term players in the market including GLG (Gerson Lehman Group), which defined the segment in the early 2000s, there are now many more recent entrants.
With the rapid development of the gig economy there has also been a smudging of the distinction between ‘expert networks’ and ‘consulting marketplaces’. The ‘expert network’ typically addresses short, discrete business questions whilst the ‘consulting marketplace’ delivers longer-term, project-based engagements. Unless full-time work prevents it, there is no reason not to join the two types of organization.
Both support the matchmaking aspect of consulting by introducing specific expertise (from the consultant) to a particular business need (the project). When they first came on the scene, platforms providing expert network engagements tended to define them as brief, telephone-based interactions which were over and done with quickly.
If this is similar in concept to online matchmaking, perhaps I need to make my profile a little racier
That model is still relevant but, as more companies recognize the benefits of ‘on-demand’ experts, they are not always thinking in terms of one-hour increments any longer.
This is good news for consultants and business executives looking to leverage their skills, knowledge and expertise. I’ve participated in many “expert” engagements over the years and I’d like to have done more. So, to understand this market a little better, I undertook this research.
It is not a complete survey but for anyone (at least in my network) new to this industry, it will provide useful insight and links to some of the larger players.
Many of the expert companies – big and small – have obvious but self-serving objectives to unlock knowledge from around the world to help their clients’ businesses make better decisions. But individual experts can also benefit by extending their networks, building their reputations, and even conducting different types of work outside their specialty while still drawing on their skills and expertise.
In my own experience, several phone consults have resulted in short market research engagements. While many types of companies seek advice from experts, I have found they tend to be mainly investment banks and private equity firms seeking specific information to support investments under consideration.
There has also been a smudging of the distinction between ‘expert networks’ and ‘consulting marketplaces’
It can be difficult to understand the client’s context without a relationship and I’ve sometimes had difficulty understanding the relevance of a client’s line of questioning. That said, I have always enjoyed these sessions.
Most of the firms on the attached list are broadly international in scope, although some do concentrate on specific geographic areas (such as the Gulf states or SE Asia, for example). And many of the larger firms cover a broad range of industry segments, having a large inventory of varied experts to support that coverage.
While I have seen some fracturing in the market there is also a lot of overlap from experts joining multiple platforms. Signing on to additional networks was one of my objectives and I am sure many others have also followed the same strategy.
Occasionally, the expansion of membership on these expert platforms may not always be advantageous. While it may be ‘anecdata’, right after I joined GLG in the mid-2000s I had a regular stream of consultations but, over time, as GLG got bigger and bigger, my referrals waned. I have not done a GLG consult in more than three years.
If this business is similar in concept to online matchmaking, perhaps I need to make my profile a little racier.
Signing up
When a consult is undertaken, the timing is often very precise and the client will not ordinarily pay for any prep work. You should take that into account when you set your rate. Recently, one call I had was booked for 45 minutes (which is what I would have billed for); however, the call was logged on their network platform at 42 minutes and that’s how my bill was calculated.
The attached list includes ‘traditional’ expert network companies like GLG and also consulting firms like Catalant, which features longer-term engagements and projects which can take a few days to a few months.
If you are considering this type of work, and do not have a full-time job, then I encourage you to look into these networks and sign up.
Michael Cairns is a publishing and media executive with over 25 years experience in business strategy, operations and technology implementation. He has served on several boards and advisory groups including the Association of American Publishers, Book Industry Study Group and the International ISBN organization. Additionally, he has public and private company board experience. He can be reached at [email protected]
So after 15 years with GLG and having worked with a few of the others in the space I have to say from the original concept to now the change has been one where the phrase Expert Network is something of a misnomer from where it started. In the days of high contact thanks to high fees the clients did get to engage with Experts. Today it is somewhat of a hit and miss exercise. In my experience the focus is now ALL on the management with hardly any expertise or knowledge. It has become a volume game for the likes of GLG with too much automation in an effort to maintain profits as income has declined with the rise of competitors. I predict that when the current CEO of GLG goes his replacement is just as likely to be from a Pyramid Marketing outfit as they once again make a wrong turn in trying to recover! I would say to those that are commissioning research if you are standing trial for murder do you look for the lawyer with the best experience to keep you out of jail or the one with the lowest hourly rate? Too often they are spending more hours on calls because they are not talking with experts rather with people who lack the depth of knowledge. We don't need to engage with organisations who are looking at this as a gig economy model rather we need to work with those who want to be like National Libraries and thus reply on humans with deep knowledge on specific subjects who reject an algorithmic approach.