How Do We Create Value?
SkyBridge networks support the needs of executives whose industries, companies, jobs, and careers are evolving rapidly. Over time, network members exchange ideas, explore shared risks and opportunities, and enjoy the benefits of a supportive peer community. The focus is on creating and sustaining a robust peer network (a noun), not networking (a verb).
Peer cohorts sometimes try to meet ad hoc, yet few of these groups endure on their own. Executives rarely have the time, resources, or expertise to identify an appropriate cohort, extend invitations, arrange logistics, lead robust discussions, and sustain the community over time. SkyBridge provides the right tools, systems, and personnel to help executive peer networks thrive.
Many of our networks are designed to serve the needs of sponsors as well as members. Sponsors often have limited visibility into clients’ challenges, desires, beliefs, and constraints outside their work together. Networks offer an efficient, effective way to gain proprietary market insights and enhance valuable relationships. After all, there are few other ways to spend six hours at a time with important clients, three times a year, indefinitely.
In addition to meaningful (but non-measurable) benefits like “brand enhancement” and “better relationships,” network sponsors routinely enjoy hard/financial returns on their investment. Over time, sponsors typically:
- Acquire new clients. Networks almost always include both current and prospective clients.
- Retain existing clients. Sponsors avoid defections by reinforcing their commitment and creating a regular touchpoint to address issues before they escalate.
- Reduce pricing pressure. Clients who enjoy close relationships with vendors are less likely to squeeze margins. They are also more likely to give the benefit of the doubt when conflicts arise.
- Expand client share of wallet. Clients may not be fully aware of a vendor’s capabilities. Sponsors often find new ways to serve client needs with their existing portfolio of products and services.
- Identify new ways to serve market needs. By listening carefully to their clients, sponsors identify new offerings to satisfy previously unknown “jobs-to-be-done.” Moreover, these solutions can be deployed across the entire market, not just the network.
Sponsoring a network also sends a powerful, unspoken message to clients: We care about you, and want to support your success. It is about listening, not pitching. Sponsors offer something of value with little asked in return. This builds trust and generates goodwill.