The document discusses the use of social media for CPAs and professional services businesses. It summarizes the growth of major social media platforms like Facebook, Twitter, and LinkedIn. It recommends that businesses evaluate their marketing goals and audience to determine which platforms would be most effective. Specifically, it suggests using social media strategically as part of an overall marketing plan, focusing on creating value for clients over self-promotion, and establishing metrics to measure results.

1. Social Media and the CPA’s Practice Central Chapter, Arkansas Society of Certified Public Accountants Jim Karrh, Ph.D.

2. Background I have a professional-services practice myself: Consulting on marketing, sales and communication Training Professional speaking … supported by online and offline media and networking activities!

3. Perspective So, from one professional services person to another… Is there anything to this social media stuff? (Absolutely.) Should you be using some of it for your business? (Yes, I believe so.) Should you be using all of the options available to you for the business? (I highly doubt it.) Which options are best for me and my business? (Let’s talk about it!)

4. Our Destination Review how quickly the online publishing and networking world has changed Consider your marketing and communication objectives Look at major social-media tools and how each might help your practice and career Establish a relative hierarchy, including resource allocation and how to keep score What to do next

5. This World Has Changed Quickly… Offline publications go online Blogs get started Aggregation Curation Sharing Following

6. From Pull to Push? An interesting trend, at least for now: Facebook is growing more quickly than is Google, and an increasing pct. of users have Facebook as their start page

7. Where Do Social Media Fit For Your Practice? Here are some of the questions you have about social media: How to grow your network What NOT to do To blog or not to blog Who should be on LinkedIn? Managing your image online

8. What is the Big Goal? New Business Development? Client Retention? Building Reputation? Media Attention? Hiring? Environmental Scanning?

9. Facebook The most-used social network, by monthly active users Began only in 2004! Considered mostly for social use, it has been increasingly adopted by businesses…

10. Facebook Sample business page on Facebook

11. Twitter A social networking and microblogging service Uses short text messages (up to 140 characters in length) called “tweets” to friends or “followers” The short format allows for informal collaboration and quick information – beats email fatigue

12. Twitter “ Twitter Quitters” Twitter has grown rapidly but is still in its infancy User retention is a real problem – much worse than what Facebook or MySpace had at similar points on their life cycles More than 60% of new U.S. users fail to return the following month ( source: Nielsen, April 2009 )

13. Good Business? Criticism of Facebook, Twitter etc., especially when it comes to business…

14. LinkedIn LinkedIn is a networking site devoted to businesses and professionals Claims more than 30 million users worldwide (21 million in the U.S.) I have had success with it and have been recommending it to clients

15. LinkedIn What can your business do with LinkedIn? Who from your firm should do it? Should you be a “LION”?

16. Blogging A blog is a particular type of website, usually maintained by one individual, with regular entries of commentary and perhaps audio, video, etc. Many corporate blogs as well Some people have built careers through blogging

17. Blogging The growth of blogging has been phenomenal: 78 million unique visitors in the U.S. during 2008 As of the beginning of 2009, more than 26 million Americans had started a blog

18. Hierarchy for Businesses and Executives Exotics Podcasts, video Facebook, MySpace Blogs: Showcase for Expertise Opinions, insights on recent events and/or trends Website LinkedIn: Storefront for individuals and groups Web Presence Blogging ?

19. So…What’s For You? First, consider your target audience(s) Who are they? Where are they now? What are they using now?

20. So…What’s For You? Next, do some research Where are the relevant conversations online? Which sites? What are they saying? http://blogsearch.google.com

21. So…What’s For You? Consider your goals, resources and constraints Is there a marketing plan in place? Who would be on the team? Who is going to create and maintain? What is your planned cadence of messaging?

22. Risks You don’t want to be part of this…

23. “ What NOT To Do” Doing it to be cool or trendy, rather than to be strategic Making it about you, rather than about creating value for others Using any of these tactics without a solid marketing plan Jumping into it without considering resources (especially time) and opportunity costs Trying to do it all yourself Failing to establish metrics and keep score

24. “ What TO Do” Consider social media as a set of potential communications tools that can help you grow Use social media as a part of your marketing, public relations and business development efforts Understand that what you say, and to whom, is more important than how you say it Leverage these tools to build contacts and reputation Make it a team effort, matching capabilities and accountabilities Decide upon the right ways to measure the results of your investment in social media

25. Thank You! Email: [email_address] Web: http://www.themarketingdoctors.net LinkedIn: http://www.linkedin.com/in/jimkarrh Facebook SpeakerMatch.com