Tips to using social media for financial services business
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Part of the "Tips for" series presented by Sarah Thomas to the Chartered Accountants Women's Group Networking Lunch on May 26, 2011, sponsored by Robert Walters. The series is presented by the Chartered Institute of Accountants in Australia.
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Tips to using social media for financial services business
- 1. Tips for using social media for business How you can harness the power of social media, understand the etiquette, tools to help you manage it and how you can use social media in your own business. Sarah Thomas Thursday 26 May 2011
- 3. In the age of social media, the rules have changed radically, and people today demand a more honest and direct relationship with the companies with which they do business. By SorenGordhamer, author of Wisdom 2.0
- 5. Companies now face a clear choice: wall themselves in and become increasingly controlled and hidden, or use social media and other means to reveal their human side, welcome transparency, and forge new relationships with their customers. The old game is undoubtedly over, and the question now is, “what can businesses do to transition and succeed in this new era?” By SorenGordhamer, author of Wisdom 2.0
- 8. Social Technographics Profile Tool Forrester
- 9. Social Technographics Profile Australians + Aged 35–44 + Female Majority = Spectators (58%) Read blogs Listen to podcasts Watch videos from other users Read online forums Read customer ratings and reviews
- 12. C CCC CONTENT COMMITMENT CONNECTED-UP PRESENCE CORE VALUES
- 15. Core values
- 16. Where should you be?
- 17. Email signatures Newsletter list Button on website Events database Use what you’ve got Invite them to join you online
- 18. authenticity transparency Real stories – don’t trick people
- 21. Facebook
- 22. Twittequitte
- 23. LinkedIn Don’t
- 29. Gen Y = ¼ (yellow) Same as 25 – 34 (green) Don’t forget 35 – 44 (grey)
- 35. Questions?
- 36. Tips for using social media for business How you can harness the power of social media, understand the etiquette, tools to help you manage it and how you can use social media in your own business. www.thesocialpr.co/tipsforbusiness
Editor's Notes
- Slide: The rules have changedThe rules have changed, the internet, web2.0 and social media have meant that consumers have changed and, more knowledgeable and hence more powerful. For big brands that means an end to how they’ve traditionally communicated with consumers, through mass media like TV advertising and newspaper ads. But for knowledge based professions like accounting it presents a massive opportunity to engage with your clients, prospect for new clients and raise awareness of you and your business like never before. Remember always that social media thrives on authenticity and transparency. You can’t fake this stuff up. If you’re not an expert in a particular field then don’t try and be one. Know what you are good at, what your personal / organisational brand stands for and you can use social media to demonstrate this to a much wider audience than ever before.
- Slide: Chartered institute screengrab The Institute of Chartered Accountants has already worked this out.
- Slide: companies now face a clear choice If you work in a large organisation, you may be familiar with some of this – most companies are still nervous about allowing Facebook at work and many still block access to social media sites like Twitter and Youtube. But if you’re one of the lucky ones you may fall into the second category here and your organisation may be embracing social media and taking advantage of all that it offers. So let’s have a look at what it can offer you.
- Slide: Supersize Social media and social networking sites like LinkedIn have allowed professionals to basically ‘super-size’ their networking and relationship building activities. Social media can revolutionise the way you do this. Let’s have a look at how. The only way to begin is to work out what you want to get out of social media. What are your objectives. These must be tied back to your core business objectives and goals. If you’re in the early stages of setting up your own private accounting business, where you need to build your client base, then your objectives will be entirely different than if you are working for KPMG or Deloitte and you want to build your knowledge to strengthen your career prospects.
- Slide: what social media can do Raise awareness of your brand, organisation, a new service or an issueDemonstrate your expertise in a particular areaGenerate business leads and potential new clientsManage reputation of your organisation, your brand, you, your employeesUnderstand and learn more about your customers / market / industryBuild and develop better relationships with customers / clients / stakeholders Amplify or broaden the reach of existing marketing activities and events Once you’ve worked out what it is you want to achieve you then need to work out how you’re going to do it. We work with clients to develop social media strategies where we look at exactly this, we also work out who their audience is and where they spend their time online. But to give you some tips on how you can begin to use social media to achieve your objectives we can look very generally at who your clients are and how they are using social media. An excellent tool that is freely available to you is Forrester’s Social Technographics Profile.
- Slide: Social Technographics profile tool Forrester is a research organisation that has classified online consumers into seven different types of social media use and adoption. They’ve mapped this visually with what they call the Social Technographics profile I’m going to draw it on this whiteboard and you’ve got a space on Page 2 of your handout to copy what I’m doing here. Creators publish blogs, own web pages, upload own video, upload own music – 23 Critics post reviews, comment on blogs, forums, edit a wiki – 31 Collectors use rss feeds (digg, delicious), vote on websites, tag pages – 14 Joiners have a profile like facebook, visit sites like twitter, youtube – 50 Spectators read blogs,listen to podcasts, watch videos, read forums, read reviews – 64 Inactives none of the above - 22 The idea is you can look at where who your audience is and where to they fit on here then work out how you might be able to engage with them. There’s a good guide you can find online
- If we’re to look at Australian, females, 35 – 44 we can see they fall into the Spectator category.
- However, this type of activity requires: Content – what are you going to talk aboutCommitment – this isn’t a dip in dip out type of activityA connected-up social presence means that you’ll be found by your audience and your efforts won’t go to wastePerhaps most importantly – your activity must mirror your core values, your tone of voice and your brand
- Good example of content and commitment. Deloitte has over 5,000 followers on its Twitter account, they tweet frequently, at least every couple of days, sometimes twice a day and they tweet in context, socially, uploading photos and talking about events as well as expertise. There’s a healthy level of engagement here also with Retweets and Replies.
- Slide: Ernst & young Several accounts and a good example of how you connect up your social presence so people know where to find what they are interested in.
- Slide: Graduate recruitment pages from KPMG and Ernst & young Both graduate recruitment Facebook pages. Demonstrates the organisations core values and used as an employer branding tool. With significant proportion of users on Facebook in the gen y / x it makes sense to have a presence here.
- Slide: social network logos So once you’ve decided you want to get involved whether that be Facebook, Twitter, youtube, or take the plunge with a blog or just dip your toe in the water with a bookmarking site like Delicious, you need to work out how you’ll let everyone know where you are. That’s where your existing networks come in handy.
- Slide: ways to promote your social networks Your email contacts, your newsletter database, your website visitors. If you’re already sending out a monthly newsletter to your clients, that’s a great way to let them know about your online presence. Adding a link to your email signatures, buttons on your website, invite your email contacts to join you on LinkedIn or follow your organisation.
- Slide: silver bullet It requires commitment; it can’t be set up and left to its own devices. It isn’t about the technology or the platform or the network. It’s about the people. Social media due to its nature means your activity must be authentic and transparent. It is a social space, and like any good social environment it thrives on stories. Real stories. Not made up ones.
- Slide: etiquette Anyone who has spent any time in any of these networks will know there is a certain etiquette and almost another language that goes along with them.
- Another question is: I don’t have time to spend all day on Twitter or Facebook – how often will I have to update my accounts?
- There are several different tools that help you to see and update Twitter, Facebook and LinkedIn from one place
- There are several different tools that help you to see and update Twitter, Facebook and LinkedIn from one place
- Hootsuite does the same
- But hootsuite also allows you to measure your activity and evaluate what brings in the most clicks to your website, engagement so you know your efforts are paying off.
- So how can you use social media in your business?Should you focus on Facebook, Twitter or just get your LinkedIn profile fit-for-purpose?It depends on your objectives, what you want to get out of it, who your audience is and how they use social media.
- Slide: Facebook Australia statisticsLets start by having a look at FacebookBig brands realise if they don’t secure their presence on these popular platforms then someone will. If they don’t listen and monitor what is being said about them or their competitors then it is a huge risk they are taking and putting themselves at a competitive disadvantage.The same can be applied to smaller businesses but the opportunity is even greater if you’re competitors aren’t doing it already.
- As a professional, at a bare minimum you need a fit for purpose LinkedIn profile.
- If you’re an expert in your field or specialty and you want to demonstrate it then Twitter may be relevant for you.
- If you love writing then a blog could be right for you.
- Or if you love talking try starting a podcast.
- That brings us to the end of our tips on using social media for business. I’d love to open it up to questions if you’ve got any.
- You can find some useful resources in the hand out I’ve provided which are also listed on our website on the link here – also on the handout