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Intro to Social Media - for Accounts (the real thing)

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    Rudyard Kipling (via)I KEEP six honest serving-men(They taught me all I knew);Their names are What and Why and When And How and Where and Who.What is Social Media all about?Why should I be interested?When is it happening?How can / should I get involvedWhere is it happening?OnlineIn people’s headsWho should be involved?At the end I hope you will better understandHow you clients might use itHow you can use it yourselves

    Social Media – tools like blogs, Twitter, wikis, ratings & reviews Twitter – where you communicate with one another in 140 characters of less LinkedIn – online networking site, designed to help businesses Blogs, blogging – surprisingly mainstream: many articles you find by searching Google are actually blogs Instead of creating new pages, you create a new ‘blog post’, which when published is sorted reverse chronologically

    Ratings & reviews – e.g. Amazon & BizWiki example Show of hands:Who has blocked Facebook? YouTube? Twitter?Companies that allow their workers to access to Facebook during business hours lose an average of 1.5% in total employee productivity, according to a study by Nucleus Research.Ok, even US Open tennis is getting twitchy ;-)AlsoDo you know how many people in your organisation blog & tweet etc. outside work?How many *at* work?How many of you have a Twitter account? A Blog? Publish photos via Flickr etc.

    Blogger, WordPress, Movable Type, Typepad etc.

    Facebook stats50% of our active users log on to Facebook in any given dayTwitterPoint being that 3.6 million people receive whatever 140 characters he tweetsTho 60% of Twitter Users Quit Within the First Month This is here to frame the argument, rather than being directly relevant to you

    Fantastic feedback from an NE VC, formerly an Accountant: Can you remember the time before the fax, and then e-mail? He’s suggesting that this is the next generation of tools that we all need to prepare for He suggests it’s about matching the demographic of the Client: Older customers prefer face-to-face meetings Younger folk happy to speak on the phone Then there’s those perfectly happy to e-mail This is the next wave

    By idiom of our Youth – I mean that to win business from the next generation of customers, it helps to be able to talk their language

    Save money, but increase the impact of your knowledge

    Amherst College is a private arts college in Massachusetts, USA that was ranked ninth in a Wall Street Journal survey of feeder colleges to the top 15business, law and medical schools in the country. Of the 438 students who enrolled in 2008, only 1% said they could be contacted via a landline, a recent survey found. But 99% had a Facebook profile. Professional services firm Ernst & Young has a voracious appetite for new recruits: it adds 3,500 graduates to its payroll every year. The figures from Amherst College demonstrate why, for Ernst & Young, having a recruiting presence on Facebook is not so much an innovativehttp://www.information-age.com/research/650236/ernst-young.thtml

    When two Domino’s Pizza employees filmed a prank in the restaurant’s kitchen, they decided to post it online. In a few days, thanks to the power of social media, they ended up with felony charges, more than a million disgusted viewers, and a major company facing a public relations crisis.In videos posted on YouTube and elsewhere this week, a Domino’s employee in Conover, N.C., prepared sandwiches for delivery while putting cheese up his nose, nasal mucus on the sandwiches, and violating other health-code standards while a fellow employee provided narration. ““One of the main benefits that comes from understanding the audience’s intent, is that we as PR professionals can begin to tap into to the always-on focus group that is social media. Looking to add value for users means that we are gaining insight about how to optimize not only our communications, but the brand itself.”Read more: http://www.corporate-eye.com/blog/2009/04/social-media-the-always-on-focus-group/#ixzz0RHpTbWjm”

    Ok, so this is not immediately applicable to you, but it gives you an idea of what can happen!

    Not saying that Accountants would be the first people to make edgy adverts and put them on YouTube but hopefully you can get a feel for potential impact!

    It’s about taking some small steps, and learning how to walk in this new World As we’ll see in the How? / Practical steps – there are things you should be doing now, even if you don’t intend to be active in the foreseeable future

    Protect your name. Even if you aren’t planning to use the applications right away, grab a username. Just like with Web sites, Facebook and Twitter profiles are going fast. If you don’t grab your name now, someone else might. Then down the road, when people are looking for you, they will find someone else. If your name is a common one, it might make sense to add CPA or your town after your name. Start slow. It’s OK to be a fly on the wall, just watching what other people are doing before throwing your own information out there. If your business doesn’t want to be seen or heard, stay away. Establish goals and revisit them often. Figure out what your firm wants to achieve by using social media. Is it to draw hits to your site? Attract clients? Track the competition? Learn and grow intellectually? How often will you post? What types of things will you post? Check in quarterly or even monthly to re-evaluate what’s working and what needs to change. Commit. Don’t start social networking if you aren’t willing to spend time building relationships with your friends and followers. If your firm is only going to post once a week, state that on your Web site to set expectations. Someone in your firm should “own” the social networking project. Hint: It might be younger staffers who understand these tools better than partners because they’re using them in their personal lives. Find fans and potential employees. Some accounting firms have established Facebook groups to get their staff all talking in the same place. If firms have younger employees, those employees are likely on Facebook and could be talking about the firm. Create a place for them to do it so partners can be part of the conversation, too. Some college students have joined those firms’ groups as “fans,” declaring they think those firms are cool. What better way is there to recruit new accountants? Consider multiple personalities. It may be wise to create one account for the entire firm, separate accounts for each employee or separate personal and professional accounts. Adding outside voices brings personality. On the other hand, it can create confusion for the corporate brand if messaging isn’t consistent among all employees. In that case, it may be wise to have someone be the primary filter through which all communication flows—at least until executives feel comfortable in whatever social networking medium they’ve chosen to explore. Act professional. Whatever you write on these sites might live in cyberspace for a long time. Don’t post anything you wouldn’t want clients or colleagues to see. Highlight area expertise. Success stories include a CPA firm that specializes in dentists and Tweets as dentalcpa to drive traffic to its Web site and blog, and an outsourced CFO who found her largest client by Tweeting QuickBooks tips. The client approached her after reading the Tweets, and the CPA didn’t even have to make a pitch to land the business. Ask questions. While many people push information to others, at least one participant in the panel session said she uses LinkedIn to pose questions to professionals in the industry. Many people are willing to offer free advice. Don’t abandon face time. Social networking sites could help people connect with colleagues and prospects they’d never meet otherwise. But sometimes meeting for drinks or lunch can draw people together like nothing else, especially when those people have never met in person.

    FutureCrowdsourcingTwitter exampleLots of followersFeeling like atop a pedestalask your community

    Favorites, Groups & Events

    Intro to Social Media - for Accounts (the real thing) - Presentation Transcript

    1. Introduction to Social Media
      aka Kipling’s Six Friends
      Justin Souter
    2. What?
      nolifebeforecoffee
      29/09/2009
      2
      Introduction to Social Media
    3. How to sell Social Media to B2B executives
      social media = contemporary web strategy
      social networking = online forum
      blogging = regularly updated website
      microblogging = active listening
      Twitter = next phase of online engagement
      • social bookmarking = shared favourites
      LinkedIn = LinkedIn
      social media newsroom = interactive information centre
      29/09/2009
      3
      Introduction to Social Media
    4. What is it?
      Also
      Ratings & Reviews
      Document & presentation sharing
      N.b. importance of using tools together
      Yes, so what is it?
      Technology
      Social Movement
      Mindset
      Computer-mediated world
      Web 2.0 – users created their own content
      “This is about determining a future online customer communications strategy”
      Chief Executive I was talking with recently
      “If I have seen a little further it is by standing on the shoulders of Giants.” - Isaac Newton (i.e. under-lined links)
      29/09/2009
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      Introduction to Social Media
    5. Overwhelming amount of tools :’(
      29/09/2009
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      Introduction to Social Media
    6. Common tools [TO BE ONES FOR BUSINESS?]
      Blog
      easy-to-use publishing platform, sorted by date
      Social Network
      online site with various collaboration tools
      Twitter
      like text messaging, but actually powerful messaging hub – real time communications
      Forums
      Online discussions
      Customer service
      Social bookmarking
      Photo & video sharing
      Music
      29/09/2009
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      Introduction to Social Media
    7. Stats – give you an idea of the trends
      Blogs
      96.6 million US Internet users read a blog at least once per month, representing 48.5% of the Internet population.
      By 2013, 128.2 million people, or 58% of all US users, will take part.
      Facebook
      > 300 million active users
      Fastest growing demographic is >= 35
      Twitter
      Film star Ashton Kutcher has 3,669,148 ‘followers’
      Jack Welch has 880k, Davos has 1.2m
      Projected to have 18m users projected for end 2009
      29/09/2009
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      Introduction to Social Media
    8. Why?
      bitzcelt
      29/09/2009
      8
      Introduction to Social Media
    9. Value of Social Media according to US Executives, July 09 – emarketer.com
      29/09/2009
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      Introduction to Social Media
    10. Reasons that US Executives use Social Media, July 09
      29/09/2009
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      Introduction to Social Media
      emarketer.com
    11. Reasons that US Executives do not use Social Media, July 09
      29/09/2009
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      Introduction to Social Media
      emarketer.com
    12. Measurable gains from ‘Web 2.0’ - McKinsey
      29/09/2009
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      Introduction to Social Media
    13. Why does it matter?
      It's the idiom of our Youth
      Interactive vs. Broadcast
      You've got a Website
      Now you need a Web Presence
      "Open the Kimono" at the pace *you* choose
      Embrace the Now; the Future is already here
      Influence, because it's happening already
      Get closer to the Customer in this age when they’ve already Googled you before you speak / they come into the shop etc.
      29/09/2009
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      Introduction to Social Media
    14. Social Media effectiveness - Twitter
      Representatives from Dell said, at a Twitter for Brands event hosted by New Media Age in London on Friday, that it has seen tangible uplifts in sales which can be directly attributed to marketing on Twitter.
      The brand’s Twitter account has driven $3 million in sales since it began operation in 2007, Dell said.
      @DellOutlet is in the top 100 Twitter accounts (over one million followers, increasing ~6K per day)
      29/09/2009
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      Introduction to Social Media
    15. Social Media effectiveness -
      Rozmic – 1 tweet led to 60 sign-ups for new service (60 x £8.50/mth)
      Your business & your Customers’ businesses
      Business to Business
      Business to Consumer
      McKinsey Quarterly vs. a set of blogs
      Part of a wider trend
      From Push to Pull
      Motor industry example
      Social Capital
      Creating the right environment for buying / choosing your firm
      Create relationships online
      Become a Social Capitalist!
      29/09/2009
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      Introduction to Social Media
    16. What can it be used for?
      Recruitment
      Ernst & Young careers Facebook group
      Marketing
      West Midlands Police
      Recruitment / ‘plodcasts’
      PC TV; YouTube, Twitter, Facebook
      Focus group
      GM’s Fast Lane blog
      “we are gaining insight about how to optimize not only our communications, but the brand itself.” Ruder Finn PR
      Collaboration
      RMT extranet
      Reuters example at Fujitsu
      29/09/2009
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      Introduction to Social Media
    17. What can it be used for? (2)
      Customer support
      Dell Hell & turnaround
      Early warning
      Domino's example
      PR
      Ford & The Ranger Station
      Social Media news release
      Social Media news room
      29/09/2009
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      Introduction to Social Media
    18. Business to Business Scenarios
      According to Dan Sears, you might consider the following:
      Listen and monitor the online conversation
      Gather product requirements and feedback
      Alert customers of new product features, upcoming events
      Introduce products to prospects
      Develop advocates and Industry influencers
      Reposition products and brands
      Share information during tradeshows and events
      Align and connect communities of interest and practice
      Generate awareness and exposure (press release)
      Social Media in a B2B contextblog post
      29/09/2009
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      Introduction to Social Media
    19. B2B Examples
      ArcelorMittal
      To help achieve successful merger
      Videos & blogs
      Scania: Social Media News Room
      Present SM content in one place
      American Express
      social media forum / social network connects with small business owners
      Pitney Bowes
      uses forums for B2B customer service
      Thanks to Social Media B2B
      29/09/2009
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      Introduction to Social Media
    20. Case Study – Social Media disaster
      Original ad
      http://www.youtube.com/v/BmykFKjNpdY
      Spoof
      http://www.youtube.com/v/TpqpAGLS2t4
      Props to Neville Hobson:
      http://www.nevillehobson.com/2008/11/18/the-motrin-storm-breathtaking-speed-and-scale/
    21. Motrin: Twitter
      29/09/2009
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      Introduction to Social Media
    22. Downsides
      Motrin (as we’ve seen)
      Dell Hell – turnaround to @DellOutlet & $3m sales
      Copyright issues – sharing gets abused
      Phishing / spam / identity theft
      Time wasting
      Time consuming
      29/09/2009
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      Introduction to Social Media
    23. When?
      sea turtle
      29/09/2009
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      Introduction to Social Media
      sea turtle
    24. When?
      "As I've said many times, the future is already here. It's just not very evenly distributed.“ - William Gibson
      29/09/2009
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      Introduction to Social Media
    25. How?
      kevindooley
      29/09/2009
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      Introduction to Social Media
    26. The four-step approach to the groundswell
      P
      O
      S
      T
      PeopleAssess your customers’ social activities
      Objectives Decide what you want to accomplish
      StrategyPlan for how relationships with customers will change
      TechnologyDecide which social technologies to use
    27. Listening
      Talking
      Energizing
      Supporting
      Embracing
      Groundswell objectives
      Roles
      Research
      Marketing
      Sales
      Support
      Development
      Key roles and their groundswell objectives
    28. groundswell.forrester.com
    29. What to do – practical steps
      Put together business case & get sign off?
      Form team of interested parties & subject matter experts
      POST exercise
      Divvy out tasks & responsibilities
      Measure before & after
      Set up blog, twitter, photo, & video tools
      Integrate with website
      Follow other people, comment on blogs, create interactions
      Start slow, experiment, fail fast, learn quickly
      Consider phased approach
      Manage the Change internally
      Keep stakeholders informed & happy
      Think long-term & keep at it
      Hire a social media specialist!
      29/09/2009
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      Introduction to Social Media
    30. What to do - strategy
      It’s unlikely to be you doing this, so find someone who is doing it already
      Get someone in your team to read Groundswell
      POST approach
      5 ways of using social media
      Demographics
      Tech
      Depends on existing infrastructure
      Often, exploit what you already have
      Combine
      Tools are most powerful when used together
      29/09/2009
      30
      Introduction to Social Media
    31. Social Media Panel Outlines Tips for Accountants
      Protect your name
      Establish goals & revisit them often
      Commit
      Find fans & potential employees
      Consider multiple personalities
      Act professional
      Highlight area expertise
      Ask questions
      Don’t abandon face time
      http://www.journalofaccountancy.com/Web/20091830.htm
      29/09/2009
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      Introduction to Social Media
    32. Social Media & QuickBooks
      Do Social Media Users Benefit?
      By answering each other's questions
      Influence the development and design of products they us
      Power users can build reputation
      Accountants can gain access to prospects in the social media community
      Users can network
      Link
      Other platforms used
      LinkedIn and Facebook to bring together QuickBooks experts
      Other Intuit community websites
      Meetup – find a QB consultant nearby
      Also, blogs, wikis (to create a Tax Almanac), YouTube to showcase new release, Twitter, even Second Life!
      29/09/2009
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      Introduction to Social Media
    33. 29/09/2009
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      Introduction to Social Media
    34. 10 ways to measure social media success
      Traffic
      Interaction
      Sales
      Leads
      Search marketing
      Brand metrics
      PR
      Customer engagement
      Retention
      Profits
      Props to Econsultancy
      29/09/2009
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      Introduction to Social Media
    35. Social Media Measurement
      Here's a framework for measuring social media:
      Attention
      Participation
      Authority
      Influence
      Sentiment
      29/09/2009
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      Introduction to Social Media
    36. Where? and Who?
      sighmon
      29/09/2009
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      Introduction to Social Media
    37. Walt Jabsco
      29/09/2009
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      Introduction to Social Media
    38. Where?
      Context
      Internal
      External
      Stakeholders
      Online and offline
      “Top 2 inches”
      Size matters
      Large firm
      Got the resources
      Small / micro firm
      Punch above your weight
      Medium?
      Dip your toe
      Medium / small
      Do you really have time?
    39. Who?
      Leadership sets the tone and example
      Front line delivers
      Management monitors, encourages, reports upwards
    40. Accountants who use Social Media
      Dennis Howlett - @dahowlett
      Mark Lee - @bookmarklee
      Philip Woodgate - @philipwoodgate
      Richard Murphy - @richardjmurphy
      Glen Feechan - @glenfeechan
      AT Accounting - @ataccounting
      Stephen Slater - @cyberaccountant
      Phil Richards - @bfcauk & @philrichards
      Toni Hunter
      @ToniHunter
      The accountants’ guide to Twitter
      Brought to you by:
      Emily Coltman - @Ask_M
      29/09/2009
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      Introduction to Social Media
    41. And finally…
      Sister72
      29/09/2009
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      Introduction to Social Media
    42. Phil Richards
      “If you come from the "intention" just to get business, then its more difficult to take part ( IMHO ), if you come from the intention of sharing, helping, community etc.. then whilst business does come, its not the primary intention, and getting involved has more meaning.”
      29/09/2009
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      Introduction to Social Media
    43. Why accountants should blog
      Sharing what you know through a blog shows you care and provides the enabling medium that provides the context for collaboration among other professionals.
      As the world becomes more specialised, I see collaboration as an increasingly important part of the professional landscape.
      Gain a reputation for sharing knowledge and like minded people WILL come to your door.
      The biggest benefit though comes through your ability to show your human-ness.
      People deal with people and if they see authenticity expressed through your blog efforts then they are far more likely to identify with you as a person.
      Given the professional reputation for being stuffy, that can't be a bad thing.
      Agree? Dennis Howlett
      29/09/2009
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      Introduction to Social Media
    44. Again, Dennis Howlett
      […] think more about communications, internally at first and how sharing information might better serve the practice.
      Professionals should be looking for ways to better collaborate both internally and among their communities. We’re starting to see that at ion.
      And it’s not about using these tools as direct marketing tools or gimmicks but about the indirect effects that arise out of your efforts at supporting those around you through the stories you tell. [my italics]
      29/09/2009
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      Introduction to Social Media
    45. Military of Millennials article - Conclusion
      “Most generations have a way of challenging their elders’ fundamental assumptions and ways of doing things.”
      “Gen Y is poised to do the same — and in potentially constructive and original ways.”
      “The job of today’s captains, majors, and colonels is to encourage and guide millennials and protect them from the senior officers who may not appreciate their unique qualities.”[!]
      29/09/2009
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      Introduction to Social Media
    46. Sister72
      Call to action
      29/09/2009
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      Introduction to Social Media
    47. Please sponsor me!
      Action for Children
      “tackle the root causes of youth homelessness
      gets thousands of children and young people off the streets
      into secure accommodation with education and training opportunities”
      Byte Night
      Sleep out of doors – tonight!
      Go to http://justgiving.com & search for Justin Souter
      Would love to get to £750
      29/09/2009
      47
      Introduction to Social Media
    48. Souter Consulting Limited
      What can I do for you?
      Please contact me to see how we can work together!
      Justin Souter
      http://souterconsulting.eu
      Justin.souter@souterconsulting.eu
      07717 725504
      29/09/2009
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      Introduction to Social Media

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