3. Included in this guide, you will
find the following sections:
ƒƒ Business Case for Social Media
The
ƒƒ
LinkedIn
ƒƒ
Twitter
ƒƒ
Facebook
ƒƒ
Blogging
ƒƒ
Comparing The Top Tools
The Developing a Business Case for Social Media Guide was written in collaboration with
Michelle Golden of Golden Practices, Inc.
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4. The Business Case for Social Media
“Connecting to people, building a relationship, establishing trust,
sharing, collaborating, serving customers, helping customers.
So the business case is, if you want to increase the number of
connections you might have to customers, then you should think
about those (social media) tools.”
Tom Hood, Maryland Association of CPAs, Journal of Accountancy, August 2009.
Social media is a rapidly growing part of our For professional users, both individuals and
culture. Facebook, for example, added more companies or firms, social media sites provide
than 200 million users worldwide in 2009 opportunities for networking; knowledge
alone and currently has more than 500 million sharing; client attraction and interaction; career
active users. Just a couple of years ago, a advancement; and recruitment. Additionally,
social network called Twitter was unveiled many conversations about relevant accounting
at the South by Southwest festival. Today, topics and perhaps even your company
Twitter has more than 75 million users. already are taking place on social networking
sites. Listening and participating in these
So, how and why should any company or conversations can help you and your business
business professional care? How does the stay on top of industry news and can provide
high-speed adoption of these social networks valuable insight into what your customers are
in our personal lives translate to our saying about you.
professional careers?
For professional users, both individuals and companies
or firms, social media sites provide opportunities for
networking; knowledge sharing; client attraction and
interaction; career advancement; and recruitment.
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5. Before setting up an online profile on social quantifiable performance indicators for each Before setting up
networking sites, it is important to define the of the social tools. Each tool offers unique
an online profile on
goals and objectives, as you would with any metrics, for example the number of followers
marketing communications initiative. A few on Twitter and number of fans on Facebook. social networking
examples of common goals are: You should also measure traffic to your website sites, it is important
ƒƒDevelop and strengthen relationships
from these mediums. It is important to keep to define the goals
an eye on some more qualitative data as well, and objectives, as
with key audiences, such as clients
such as engagement through interactions like
comments, “likes” (specific to Facebook and
you would with
ƒƒShowcase thought leadership on
relevant topics LinkedIn) and retweets (specific to Twitter). any marketing
communications
ƒƒProvide pertinent news Next, choose which social media outlets are initiative.
ƒƒIncrease traffic to your website the best fit for your goals. Some of the more
popular platforms are LinkedIn, Facebook,
Once your goals have been established, you Twitter and blogging. Starting on the
need to determine how best to measure following page are overviews of each of
success. Keep track of some baseline, these social platforms.
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6. LinkedIn is a LinkedIn looking at a prospective client’s profile,
LinkedIn will provide you with the “degrees
user-profile based
of separation” between you and that person.
database that houses LinkedIn is a user-profile based database
You can use this information to contact your
users’ professional that houses users’ professional background
connection and ask for an introduction to the
information, their contacts and their affiliated
background prospective client.
groups and associations. These comprise one’s
information, their “network” and within a user’s network, various
A challenge with LinkedIn is the unknown
contacts and their interactions can occur through groups, events
context of the connections for various people.
affiliated groups or periodic updates.
While LinkedIn suggests that users connect
and associations. only to people whom they’d be comfortable
With its widespread use—the more
recommending or endorsing, this criterion
participants, the more effective it is—LinkedIn
simply isn’t uniform across all users. Be aware
is an increasingly powerful tool and a safe
of this challenge as you use LinkedIn to be
place to “collect” a lifetime of business
introduced to new people—the person whom
connections. With automatic notifications of
you ask to introduce you to a prospective client
changes to your contacts’ profiles, LinkedIn is
might not know the person all that well.
especially valued by those who’ve lost contact
with important people over time.
The LinkedIn User Guide provides a closer
look at establishing and maintaining a
Researching to find connections to prospective
LinkedIn presence. Click here to access the
clients within your known contacts is one
Guide online.
brilliant way companies use LinkedIn. When
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7. Twitter public attempts to help (not shift or defer
blame) — are a wise public relations activity.
Twitter is a forum that consists of a running
Twitter is especially effective for business
thread of 140-character-or-fewer postings
development relative to niche specialty areas
called “tweets.” Through a very simple,
and when coupled with blogging initiatives
even minimalist, interface, users subscribe to
or other content the firm can share. A large
(aka “follow”) people of their choice with no
number of Twitter users also author blogs —
obligation to follow anyone in particular.
they go together well.
There also is an unbelievable volume of
Twitter is about sharing information.
information. Twitter offers a “list” feature to
While some users do share frivolous facts
help you group or sort those you follow, and
(e.g., “I had a PB&J for lunch”), most business
most want to read. Third-party applications
users share tips and links to articles or news
such as TweetDeck help users manage and
they feel are worthwhile or controversial to
prioritize the information they are most
spark interest or conversation. It’s best to mix
interested in capturing.
shared content between others’ work and
one’s own.
Monitoring Twitter for any tweets about your
firm, easily handled through Twitter’s search
The Twitter User Guide provides more in-depth
filters, is a must. When monitoring turns up any
learning to establish and maintain a Twitter
results, positive or negative, respective thank
presence. To access this Guide, please click here.
yous and remedies — in the form of equally
Crystal Knight, Vester & Wiler CPAs, said “I joined Twitter because
it’s a powerful information tool where I can scan the latest headlines,
not just the accounting industry but the industries our firm serves. In
addition, Twitter is a great tool to expand my professional network
and make existing professional relationships stronger.”
Journal of Accountancy, August 2009
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8. Most CPA firms find Facebook set up accounts to keep in touch with their
college-age or teenage kids.
a corporate presence
on Facebook is more Facebook is more complex to use than
The use of Facebook groups, or Company
fruitful for recruiting LinkedIn, but also is far more conducive to
Pages, is where CPA firms come into play —
ongoing conversation. Facebook’s average
than business at the firm level. A corporate presence can
user age is now older than 40 for a couple
development. make sense if the firm has good content to
of reasons. One, reconnecting with former
disseminate or hosts a number of events.
classmates is free through Facebook. Another
Most CPA firms find a corporate presence on
reason is user-friendly photo sharing. Digital
Facebook is more fruitful for recruiting than
cameras make it more efficient to share photos
business development.
with relatives and friends electronically than the
old print way. Facebook also facilitates sharing
The Facebook User Guide will help you
securely and without charge. Grandparents
establish and maintain a professional presence
find they need to get on Facebook to see
on Facebook. To access the Guide now,
their grandchildren’s photos. Now parents also
please follow this link.
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9. Blogging Blogs definitely require more energy to
maintain than one’s LinkedIn presence, though
Most exciting
from a marketing
time spent on Twitter or Facebook could range
Blogs are distinctly structured websites that
from much more to much less. But blogging perspective is that
contain short, conversational-style articles blogs disseminate
provides benefits the other social media
(called “posts”) each housed on a separate
channels cannot. or push your content
URL that are date/time stamped and can be
commented on by readers. through RSS (Real
Blog posts open new doors to effective
search engine strength because they are
Simple Syndication)
Most exciting from a marketing perspective is
written more casually than a technical piece. to feed readers or
that blogs disseminate or push your content
More importantly, authoring blog posts allows to emails, if people
through RSS (Real Simple Syndication) to
professionals to show a bit of their personality subscribe to your
feed readers or to emails, if people subscribe
and at the same time it emphasizes their
to your postings this way. Blogs can replace postings this way.
expertise. Since people would rather buy from
or supplement an email content distribution
people they know and like, having a regular
program (e.g., traditional push-marketing) at
reader of your blog is a brilliant relationship
far less expense and far greater ease. Blogs
accelerant.
are “alive” and available anytime, anywhere,
which facilitates “pull-marketing” for intended
The Blogging User Guide provides deep-dive
recipients and new prospects.
learning into establishing and maintaining
a blog. To access this Guide, please click here.
A Process Not An Event
It is important to keep in mind that social
media is a work in progress. The goals and
objectives you set at the outset will not be
accomplished overnight. Experiment to see
what works for your business and then refine
your plan as you go along.
“I think the important thing about a blog is it demonstrates very
quickly to your clients the level and depth of your expertise.
It also shows your personality.”
Journal of Accountancy, August 2009
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10. Comparing The Top Tools
Unless you have Unless you have tremendous time and resources at your disposal, you’ll want to decide which
new media to explore, and among them, which one to tackle first. This chart is subjective,
tremendous time and
based on the experience of Michelle Golden, Golden Practices, Inc., with the way CPA firms
resources at your would and could use the tools.
disposal, you’ll want
to decide which new USEFULNESS (based on moderate to excellent use of tool)
media to explore, and LinkedIn Twitter Facebook Blog
among them, which Maintain contact & reconnect ★★★★ ★★ ★★★★ ★★
one to tackle first. Regularly alerted to opportunities for interaction
(reasons to reach out, as others update)
★★★★ ★★★ ★★★★ ★
Demonstrate your expertise, establish credibility ★★★ ★★ ★★ ★★★★
Increase your knowledge ★★★ ★★★ ★ ★★★
Promote events and firm-hosted activities ★★★ ★★ ★★ ★
Distribute content ★★ ★★★ ★★ ★★★★
Communicate without distributing firm-developed content ★★★★ ★★★ ★★★★ ★
Promote others (thus building goodwill) ★★★★ ★★★★ ★★ ★★★★
Conducive to deepening relationships, building rapport ★★ ★★ ★★★★ ★★
Connect others together (facilitate mutually beneficial
introductions)
★★★★ ★★★★ ★★★★ ★★★★
Recruiting (firm presence) ★★★★ ★★★ ★★★★ ★★
Identify resources ★★★★ ★★★ ★★★ ★★
Obtain answers to questions ★★★★ ★★★★ ★★★★ ★★★★
Meet new people ★★★ ★★★★ ★★ ★★★★
CONCERNS (more stars, greater concern)
Business/personal crossover concerns among contacts N/A ★ ★★★★ N/A
Time investment to be effective ★★★ ★★ ★★ ★★★★
Noticeable if absent ★ ★★ ★★★ ★★★★
Process considerations to execute well (internal, firm level) ★ ★ ★★ ★★
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