Central Chapter, AR Society of CPAs


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Central Chapter, AR Society of CPAs

  1. 1. Social Media and the CPA’s Practice Central Chapter, Arkansas Society of Certified Public Accountants Jim Karrh, Ph.D.
  2. 2. Background <ul><li>I have a professional-services practice myself: </li></ul><ul><li>Consulting on marketing, sales and communication </li></ul><ul><li>Training </li></ul><ul><li>Professional speaking </li></ul><ul><li>… supported by online and offline media and networking activities! </li></ul>
  3. 3. Perspective <ul><li>So, from one professional services person to another… </li></ul><ul><li>Is there anything to this social media stuff? (Absolutely.) </li></ul><ul><li>Should you be using some of it for your business? (Yes, I believe so.) </li></ul><ul><li>Should you be using all of the options available to you for the business? (I highly doubt it.) </li></ul><ul><li>Which options are best for me and my business? (Let’s talk about it!) </li></ul>
  4. 4. Our Destination <ul><li>Review how quickly the online publishing and networking world has changed </li></ul><ul><li>Consider your marketing and communication objectives </li></ul><ul><li>Look at major social-media tools and how each might help your practice and career </li></ul><ul><li>Establish a relative hierarchy, including resource allocation and how to keep score </li></ul><ul><li>What to do next </li></ul>
  5. 5. This World Has Changed Quickly… <ul><li>Offline publications go online </li></ul><ul><li>Blogs get started </li></ul><ul><li>Aggregation </li></ul><ul><li>Curation </li></ul><ul><li>Sharing </li></ul><ul><li>Following </li></ul>
  6. 6. From Pull to Push? <ul><li>An interesting trend, at least for now: </li></ul><ul><li>Facebook is growing more quickly than is Google, and an increasing pct. of users have Facebook as their start page </li></ul>
  7. 7. Where Do Social Media Fit For Your Practice? <ul><li>Here are some of the questions you have about social media: </li></ul><ul><li>How to grow your network </li></ul><ul><li>What NOT to do </li></ul><ul><li>To blog or not to blog </li></ul><ul><li>Who should be on LinkedIn? </li></ul><ul><li>Managing your image online </li></ul>
  8. 8. What is the Big Goal? <ul><li>New Business Development? </li></ul><ul><li>Client Retention? </li></ul><ul><li>Building Reputation? </li></ul><ul><li>Media Attention? </li></ul><ul><li>Hiring? </li></ul><ul><li>Environmental Scanning? </li></ul>
  9. 9. Facebook <ul><li>The most-used social network, by monthly active users </li></ul><ul><li>Began only in 2004! </li></ul><ul><li>Considered mostly for social use, it has been increasingly adopted by businesses… </li></ul>
  10. 10. Facebook Sample business page on Facebook
  11. 11. Twitter <ul><li>A social networking and microblogging service </li></ul><ul><li>Uses short text messages (up to 140 characters in length) called “tweets” to friends or “followers” </li></ul><ul><li>The short format allows for informal collaboration and quick information – beats email fatigue </li></ul>
  12. 12. Twitter <ul><li>“ Twitter Quitters” </li></ul><ul><li>Twitter has grown rapidly but is still in its infancy </li></ul><ul><li>User retention is a real problem – much worse than what Facebook or MySpace had at similar points on their life cycles </li></ul><ul><li>More than 60% of new U.S. users fail to return the following month ( source: Nielsen, April 2009 ) </li></ul>
  13. 13. Good Business? <ul><li>Criticism of Facebook, Twitter etc., especially when it comes to business… </li></ul>
  14. 14. LinkedIn <ul><li>LinkedIn is a networking site devoted to businesses and professionals </li></ul><ul><li>Claims more than 30 million users worldwide (21 million in the U.S.) </li></ul><ul><li>I have had success with it and have been recommending it to clients </li></ul>
  15. 15. LinkedIn <ul><li>What can your business do with LinkedIn? </li></ul><ul><li>Who from your firm should do it? </li></ul><ul><li>Should you be a “LION”? </li></ul>
  16. 16. Blogging <ul><li>A blog is a particular type of website, usually maintained by one individual, with regular entries of commentary and perhaps audio, video, etc. </li></ul><ul><li>Many corporate blogs as well </li></ul><ul><li>Some people have built careers through blogging </li></ul>
  17. 17. Blogging <ul><li>The growth of blogging has been phenomenal: </li></ul><ul><li>78 million unique visitors in the U.S. during 2008 </li></ul><ul><li>As of the beginning of 2009, more than 26 million Americans had started a blog </li></ul>
  18. 18. Hierarchy for Businesses and Executives <ul><li>Exotics </li></ul><ul><ul><li>Podcasts, video </li></ul></ul><ul><ul><li>Facebook, MySpace </li></ul></ul><ul><li>Blogs: Showcase for Expertise </li></ul><ul><ul><li>Opinions, insights on recent events and/or trends </li></ul></ul><ul><li>Website </li></ul><ul><li>LinkedIn: Storefront for individuals and groups </li></ul>Web Presence Blogging ?
  19. 19. So…What’s For You? <ul><li>First, consider your target audience(s) </li></ul><ul><li>Who are they? </li></ul><ul><li>Where are they now? </li></ul><ul><li>What are they using now? </li></ul>
  20. 20. So…What’s For You? <ul><li>Next, do some research </li></ul><ul><li>Where are the relevant conversations online? </li></ul><ul><li>Which sites? </li></ul><ul><li>What are they saying? </li></ul>http://blogsearch.google.com
  21. 21. So…What’s For You? <ul><li>Consider your goals, resources and constraints </li></ul><ul><li>Is there a marketing plan in place? </li></ul><ul><li>Who would be on the team? </li></ul><ul><li>Who is going to create and maintain? </li></ul><ul><li>What is your planned cadence of messaging? </li></ul>
  22. 22. Risks <ul><li>You don’t want to be part of this… </li></ul>
  23. 23. “ What NOT To Do” <ul><li>Doing it to be cool or trendy, rather than to be strategic </li></ul><ul><li>Making it about you, rather than about creating value for others </li></ul><ul><li>Using any of these tactics without a solid marketing plan </li></ul><ul><li>Jumping into it without considering resources (especially time) and opportunity costs </li></ul><ul><li>Trying to do it all yourself </li></ul><ul><li>Failing to establish metrics and keep score </li></ul>
  24. 24. “ What TO Do” <ul><li>Consider social media as a set of potential communications tools that can help you grow </li></ul><ul><li>Use social media as a part of your marketing, public relations and business development efforts </li></ul><ul><li>Understand that what you say, and to whom, is more important than how you say it </li></ul><ul><li>Leverage these tools to build contacts and reputation </li></ul><ul><li>Make it a team effort, matching capabilities and accountabilities </li></ul><ul><li>Decide upon the right ways to measure the results of your investment in social media </li></ul>
  25. 25. Thank You! <ul><li>Email: [email_address] </li></ul><ul><li>Web: http://www.themarketingdoctors.net </li></ul><ul><li>LinkedIn: http://www.linkedin.com/in/jimkarrh </li></ul><ul><li>Facebook </li></ul><ul><li>SpeakerMatch.com </li></ul>