Despite the hype surrounding social networking and sites such as Facebook, MySpace and Bebo, it seems business owners still prefer face-to-face meetings.
Research conducted by Vodafone found that one in five entrepreneurs would not do business with someone they hadn’t met. A quarter said there would have to have been at least telephone contact.
Although 61% admitted using email as a way of contacting prospective clients, only 34% claimed to have secured business.
Again, face-to-face interaction proved the preferred – and most successful – way of securing new business. Almost 47% said they would accept an invite to business lunch at a top restaurant, with 26% naming a private members club as a better location to hook up.
The traditional meeting over a round of golf remained a favourite with 12% of business owners polled. The telephone, in any location, remained the chosen tool for making contact for more than half.
Overall, the report suggested that while online social networking offers access to a broader network of contacts, face-to-face and voice interaction continues to dominate how we actually do business.
To supplement the report, Vodafone consulted a number of entrepreneurs and business experts. To hear their views and podcasts with Coffee Republic founder Sahar Hashemi and Startups editor Matt Thomas, click here