LinkedIn for CPAs


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LinkedIn for CPAs as presented to the 35th Annual Small Firm Practitioners Conference MACPA 2012 August 24

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  • Old Model of Interpersonal Communication:One person, sending a message to other one person(s) at a time.
  • New Model of Interpersonal Communication
  • Creating paradigm flexibility within the way we communicate-must be able to do all types today
  • How to get customers to spread your message-the new referral-Amplification
  • Your clients are talking-you better be listening.
  • “Satisfied customers are the best source of new customers,” says Guy Kawasaki. Referrals are still the biggest source of new clients for accountants. A
  • Discuss why these are important
  • Your clients are talking-you better be listening.
  • Your clients are talking-you better be listening.
  • Your clients are talking-you better be listening.
  • LinkedIn for CPAs

    1. 1. What can LinkedIn do for CPAs?…more than you think.
    2. 2. Welcome What can LinkedIn do for CPAs? [more than you think] 834 Design & Marketing Kim Bode Adrienne Wallace LinkedIn and the CPA
    3. 3. What is Social Media?A flexible definition • Evolution of relationships • Familiar communication tools • Built on networking foundations (platforms) • Real time • Individualized • 2-way communication on a massive level LinkedIn and the CPA
    4. 4. What is Social Media?Flattening the Earth Tipping point was identified by Neilson (2009): Social media (67%) used more than email (65%) LinkedIn and the CPA
    5. 5. What is Social Media?Demographics LinkedIn and the CPA
    6. 6. What is Social Media?Demographics LinkedIn and the CPA
    7. 7. What is Social Media?Demographics LinkedIn and the CPA
    8. 8. What is Social Media?Demographics LinkedIn and the CPA
    9. 9. What is Social Media?SM Growth LinkedIn and the CPA
    10. 10. What is Social Media?LinkedIn Growth LinkedIn and the CPA
    11. 11. What is Social Media?Categories LinkedIn and the CPA
    12. 12. About Social Media3 Things• Each platform has a distinct personality.• Many different platforms for different purposes.• Platforms may change, good communication does not. LinkedIn and the CPA
    13. 13. About Social Media Change in CommunicationLinkedIn and the CPA
    14. 14. About Social Media Change in CommunicationLinkedIn and the CPA
    15. 15. About Social Media Change in CommunicationLinkedIn and the CPA
    16. 16. About Social Media Implications for BusinessLinkedIn and the CPA
    17. 17. Effects of Social Media• Democracy • Transparency in the everyday• Meritocracy • Open sourced comments posted affect performance-based outcomes• Authentocracy • Success from true voices. Drive to be “authentic self” is a large tenant of SM. LinkedIn and the CPA
    18. 18. Tools of Social Media• Search/Audit/Strategize • Create a policy for your firm. • Assign ambassadors or educate all members • Find out what you do, who does it? • What do your competitors do? How?• Track/Protect/Monitor • Google analytics. • Google alerts.• Participate/Engage • Answer the noise. • Refer and redirect if need be. LinkedIn and the CPA
    19. 19. How to engage?• Determine your strategy and your audience.• Get some headshots for goodness sake.• Find yourself – what‟s your brand?• Create original content and add to the conversation.• Publish stuff worth reading.• Engage your audience continually. LinkedIn and the CPA
    20. 20. About Social Media Implications• Age of radical transparency.• Lack of privacy-no one is exempt.• Longevity of practice.• Assured of change.• Flexibility required.• Evaluate and re-strategize (continually). LinkedIn and the CPA
    21. 21. How? LinkedIn and the CPA
    22. 22. LinkedIn ValueQuick Stats• 147 Million users in the past 12 months this number is up 47%• Standard user is male (57%) aged between 29 and 54 years of age• 20% of LinkedIn users are senior level executives• 39% of LinkedIn users have titles of Manager, Director, CEO, COO, CFO, or VP• 60% are either decision makers, or have direct access to decision makers• 43% of all LinkedIn users are located in the United States• Top four professions: IT, Marketing/Advertising, Financial Services, Computer Software (all avg incomes over $60,000.00 annually) Souce: LinkedIn Ads LinkedIn and the CPA
    23. 23. 9 Common LinkedIn Mistakes• Failing to take social seriously• Not achieving a 100% complete LinkedIn profile• No photo, or worse, the WRONG photo• Not developing and building your network• Not using LinkedIn to protect your clients• Not asking or getting recommended• Failing to join LinkedIn groups• Waiting for people to come to you• Letting your staff “loose” on LinkedIn without advice LinkedIn and the CPA
    24. 24. 7 Essential LinkedIn Connections• Co-Workers • Current and past• Clients or Customers • Be careful of conflict of interest or privacy• Classmates • Yes, even if you haven‟t seen them in a while• Fellow Volunteers • Extracurricular connections• Members of Your Business Network • There is power in co-marketing services• Family and Friends • Ask these people to be your clients or to give a recommendation on your behalf• Fellow Members of LinkedIn Groups • Yes, even if you don‟t know them “in real life” LinkedIn and the CPA
    25. 25. 7 Essential LinkedIn Activities• Sign up • Can‟t participate if you don‟t join• Maintain a complete profile • Don‟t let it stagnate• Update your status • Show you are attentive• Connect • Build your network of primary, secondary and tertiary relationships• Join a group • Connect with people of similar interests, share strategies, complain about tax season and get sympathy• Share a link or answer a question • Provide added value and items of interest• Follow a company [maybe the competitor] LinkedIn and the CPA
    26. 26. 7 Essential LinkedIn Settings to Modify• Profile Photo • Everyone, network, or connections only• Public Profile • Create your branded URL then choose which items appear in a search to others• Manage Recommendations • Public or private• Member Feed Visibility • Choose who sees your updates [everyone, network or connections only]• Network Updates • Control what updates you get on your homepage• Connections Browse • Control who sees your connections [can your competition?]• Authorized Applications LinkedIn and the CPA
    27. 27. 7 Essential Groups to Join• Your company‟s group • Engage members in discussion, refer people to other services and develop reciprocal relationships• AICPA [American Institute of CPAs] • Lots of groups here from YoungCPAs to Tax Section• State CPA Society • The CPA support group for the state• SocialCPAs • CPAs and social networking of all platforms, not just LinkedIn• Your practice group • What expertise do you have? Join that group.• International CPA Association • Help others and get help of a different perspective• Your competitors • Isn‟t it obvious? Research. Intel. LinkedIn and the CPA
    28. 28. 5 Super Active Finance-Related Groups • Finance Club • This is a kitchen-sink group-14 subgroups according to field. • Finance and Accounting Pros • The subgroups of this group are divided into four categories: • Finance & Accounting Recruiters Only (I have a job) • Finance & Accounting Job Seekers Only (I need a job) • Finance Professionals (Jobs & Networking) • Accounting Professionals (Jobs & Networking) • Finance Services Careers • Created just days before Lehman collapsed in 2008, this group connects job seekers and hiring managers in a range of finance sectors. LinkedIn and the CPA
    29. 29. 5 Super Active Finance-Related Groups • Financial Services Regulation • The groups purpose is to keep regulation officials informed, so its a good go-to service for staying up-to-date on the labyrinth of finreg. • Real Estate Finance & Networking • This group connects individuals in commercial and residential real estate, as well as those in mortgage brokerage, asset management, distressed debt and more. LinkedIn and the CPA
    30. 30. Use LinkedIn for What?• Manage existing clients• Distribution of quality info to clients• Generate referrals through clients and referring businesses• Secure new clients through search• Prevent attrition by offering additional services • Share content • Give clients valuable connections and referrals• Increase your own web visibility/SEO rank/traffic in general• Low or no cost marketing• Recruitment• Research of trends• Get/give advice LinkedIn and the CPA
    31. 31. Steps to gain a referral• Social media flattens the referral process-you are already connected • Search for the client you want among your contacts • View your contacts and their contacts • Use the platform to build goodwill through a mutual connection • Message them or ask to be introduced through your mutual contact • Did someone search you? Connect with them, use their curiosity to get to their contacts • Prospect, search, connect, follow up LinkedIn and the CPA
    32. 32. Peer Pressure LinkedIn and the CPA
    33. 33. Peer Pressure LinkedIn and the CPA
    34. 34. 15-minutes a day • Minutes 1–5: • Complete a status update. • Have you just landed a new client (no names, of course, unless your client agrees) or achieved a personal best? • It only takes a minute, but each posting is far- reaching thanks to „LinkedIn‟s Weekly Updates‟ broadcast. LinkedIn and the CPA
    35. 35. 15-minutes a day • Minutes 6–10: • Browse „All Updates‟ on your „Home‟ page. • Congratulate a connection or comment on a profile update, even if it‟s just to say, “Great new photo.” • All of these comments go out to your entire network. LinkedIn and the CPA
    36. 36. 15-minutes a day • Minutes 11–15: • Glance through „People You May Know‟ by clicking on „Add Connections‟ in the upper-right corner of the „Profile‟ screen and selecting it from the screen that appears. • These are people who are connected to your connections. If you see someone you know, invite him or her to join your network. • When your invitation is accepted, „All Updates‟, shown on your „Home‟ page, will reflect that and your new connection will be included in the „Weekly Updates‟ broadcast. LinkedIn and the CPA
    37. 37. LinkedIn ValueJames Potter, Insight Marketing“When you know how to use LinkedIn well, you’ll saveyourself a ton of time. You will walk through open doorsinstead of making cold calls; you’ll enhance your personalreputation and the profile of your practice; you’ll accessoutstanding information and opportunities that wouldpreviously have missed and ultimately you will increaseyour revenue.” LinkedIn and the CPA
    38. 38. Why engage? LinkedIn and the CPA
    39. 39. LinkedIn Resources• Quick tour and navigation• Questions and concerns• 834 quick consult LinkedIn and the CPA
    40. 40. Sources••• InsightMarketing• Journal of Accountancy• Square Martini Media• Top Dog Social• LinkedUp Grand Rapids• Accounting Today• CPA Social Trends • content/uploads/2010/11/SocialCPAs-via- CPATrendlines.pdf• Not used but a GREAT „how to‟ [oldie but a goodie] • to-jumpstart-your-social-media-strategy.html LinkedIn and the CPA
    41. 41. Connect with us!834 Design & Marketing LinkedIn and the CPA