Online networking site wins award

AN ONLINE business networking group that aims to enable users to generate business contacts through a unique referral system has won an award.

Smartleads.ie is an Irish networking site founded by Dublin entrepreneur Dave Curry and backed by David Johnson, former head of AdSense at Google.

The portal, which beat some 200 contenders to win the outstanding digital potential award at last weekend’s 2010 Entrepreneur Show, aims to differentiate itself from other online networking sites by offering a reciprocal “leads exchange” system.

Each time a user provides a business recommendation or lead to another member, they receive a credit, which allows them to receive a lead in return.

The beta trial of the site has been ongoing since January. More than 300 companies have signed up for the service, including mobile operator 3, Irish Life, Harvey Nash and the Burlington Hotel.

Mr Curry, a former BT executive, said the aim of the service was to replicate, in an online environment, the success of business networking groups, such as Business Networking International, which bring together groups of 25 to 40 businesspeople each week for networking events.

He said that while traditional networking sites such as LinkedIn gave users easy access to potentially thousands of business contacts, it was unclear how members could convert these connections into sales opportunities.

“What we have found is that, while many businesses might be members of networking sites, they find it difficult to generate business through them,” he said.

“SmartLeads.ie gives people an incentive to actively provide sales leads to fellow members. The more leads you give, the more you receive in return for your business.”

Mr Curry said businesses of all sizes were increasingly looking to increase their networking opportunities online.

According to a survey conducted by Smartleads, 63 per cent of respondents are members of online business networks. More than one in three of these are members of three or more online groups.

A total of 81 per cent of respondents plan to increase their networking activities in the next six months.

Membership of smartleads.ie costs €199 per year, or €74 for three months.

New members are entitled to up to five free “leads” before deciding whether to subscribe.

The company said it hoped to enter the UK market within the first year of operation.