The document discusses the rise of social media and provides advice on how accountants can get involved. It introduces the concept of social media using Kipling's six honest serving-men as a framework. It then provides tips on understanding why social media matters, practical steps firms can take to engage, potential uses like marketing and collaboration, and key challenges to be aware of.

1. Introduction to Social Media aka Kipling’s Six Friends Justin Souter

2. Warm up – Social Media disaster Original ad http://www.youtube.com/v/BmykFKjNpdY Spoof http://www.youtube.com/v/TpqpAGLS2t4 17/09/09 © Justin Souter 2009 Props to Neville Hobson: http://www.nevillehobson.com/2008/11/18/the-motrin-storm-breathtaking-speed-and-scale/

3. Has to eat humble pie 17/09/09 © Justin Souter 2009

4. Motrin: Twitter 17/09/09 © Justin Souter 2009

5. Thoughts 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 involved Where is it happening? Online In people’s heads Who should be involved? 17/09/09 © Justin Souter 2009

6. WHAT?

7. What is it? Yes, so what is it? Technology Social Movement Mindset Computer-mediated world “ 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. links) 17/09/09 © Justin Souter 2009

8. Thoughts II [put in notes] 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 ;-) Also Do 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. 17/09/09 © Justin Souter 2009

9. Military of Millennials article Contrast in approaches between Top Brass & Junior Ranks etc. E.g. open vs. Closed re personal info http://www.strategy-business.com/article/07401 17/09/09 © Justin Souter 2009

10. MoM - 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.”[!] 17/09/09 © Justin Souter 2009

11. MoM II [HIDDEN] Let’s hope the military, and the corporations that hire the people who leave the military, can learn to make the most of this new generation’s distinctive talents and instincts. Confronted with the reality of Gen Y’s unique characteristics, what’s a military leader to do? More research into the attitudes, aptitudes, and habits of young military officers and noncommissioned officers should help to clarify key issues; we already know that the answers are unlikely to lie in stifling this generation’s natural talents and predilections. 17/09/09 © Justin Souter 2009

12. Overwhelming amount of tools :’( 17/09/09 © Justin Souter 2009

13. WHY?

17. 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 Futue 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. 17/09/09 © Justin Souter 2009

18. Twitter effectiveness 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) 17/09/09 © Justin Souter 2009

19. Thoughts III 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! 17/09/09 © Justin Souter 2009

20. 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.” Link Collaboration Reuters example at Fujitsu Example too numerous to mention 17/09/09 © Justin Souter 2009

21. Ernst & Young careers on Facebook

22. 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 17/09/09 © Justin Souter 2009

23. 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 context blog post 17/09/09 © Justin Souter 2009

24. Downsides Motrin (as we’ve seen) Dell Hell – turnaround to @DellOutlet & $3m sales Copyright issues – sharing gets abused Phishing / spam / identity theft Timewasting Time consuming 17/09/09 © Justin Souter 2009

25. WHEN?

26. When? "As I've said many times, the future is already here. It's just not very evenly distributed.“ - William Gibson

27. HOW? 17/09/09 © Justin Souter 2009

28. The four-step approach to the groundswell People Assess your customers’ social activities Objectives Decide what you want to accomplish Strategy Plan for how relationships with customers will change Technology Decide which social technologies to use P O S T

29. Key roles and their groundswell objectives Development Support Sales Marketing Research Groundswell objectives Roles Listening Talking Energizing Supporting Embracing

30. groundswell.forrester.com

31. What to do – practical steps e.g. for Chantrey Vellacott DFK 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!

32. What to do - strategy 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 17/09/09 © Justin Souter 2009

33. 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

34. 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 !

36. 10 ways to measure social media success Traffic Interaction Sales Leads Search marketing Brand metrics PR Customer engagement Retention Profits Props to Econsultancy

37. Social Media Measurement Here's a framework for measuring social media : Attention Participation Authority Influence Sentiment

38. WHERE? AND WHO?

39. Where? and Who? Where? Context Internal External Stakeholders Online and offline “ Top 2 inches” 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 Phil Richards - @bfcauk & @philrichards The accountants’ guide to Twitter Brought to you by: Emily Coltman - @Ask_M

41. AND FINALLY…

42. 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

43. CALL TO ACTION

44. Souter Consulting Limited What can I do for you? Please contact me to see how we can work together! Justin Souter http://souterconsulting.eu [email_address] 07717 725504 17/09/09 © Justin Souter 2009

45. Marketing Charts charts 17/09/09 © Justin Souter 2009

46. 17/09/09 © Justin Souter 2009

47. 17/09/09 © Justin Souter 2009

48. Social Media Magnifies Marketers' Influence Slabinski added that social media programs, which are often overseen by marketing and communications professionals, may increase the pull these staff members have in an organization. "Many marketers are interacting directly with customers and clients through Twitter, Facebook and other social media, which gives them immediate, firsthand knowledge of how the firm's products and services are perceived and can be improved upon.“ 17/09/09 © Justin Souter 2009

49. Forrester Research Social technology growth marches on in 2009, led by social network sites

50. Forrester Research “ Spectators -- those consuming social content -- reached all the way to 73% of online Americans, which should end any remaining skepticism about whether this social thing is real. Soon, with the level of social content being put out there, it will be virtually impossible for an online consumer not to be a Spectator.” “ Marketers, if you're not doing social technology applications now, you're officially behind. We expect a wave of Web site reorgs and redesigns to include social activity”

51. STATS FROM MARKETING CHARTS - CONTEXT

52. Stats from Marketing Charts - 1 In a study of online UK retailers, 59% reported that the consumer-generated activity leads to better search engine optimization. (eMarketer, 2007) 17/09/09 © Justin Souter 2009

53. Stats from Marketing Charts - 2 Online UK retailers reported improved customer retention and loyalty by 73% once they implemented consumer-generated rating and reviews. (eMarketer, 2007) 17/09/09 © Justin Souter 2009

54. Stats from Marketing Charts - 3 90% of UK shoppers surveyed said they wish they could communicate directly with businesses - using live chat, forums or call-me-back facilities - via their websites; one in three require it from the UK businesses they currently use. (1&1, October 2007) 17/09/09 © Justin Souter 2009

55. Stats from Marketing Charts - 4 56% of UK website owners say that user-generated content lifts conversion levels; 77% say it increases traffic; and 42% say it increases the average spend on site.(eConsultancy survey of 360 website owners across all sectors, November 2008) 17/09/09 © Justin Souter 2009

56. Stats from Marketing Charts - 5 By 2020, 84% of marketers agree that building customer trust will become marketing's primary objective, and 82% agree that collaboration with customers will prevail over marketing. (1to1 Media survey of the 1to1 Xchange panel, April 2008) 17/09/09 © Justin Souter 2009

57. Stats from Marketing Charts - 6 79% of online UK retailers surveyed reported that the main benefit of consumer-generated rating and reviews was that they improved site conversion rates. (eMarketer, 2007) 17/09/09 © Justin Souter 2009

58. Stats from Marketing Charts - 7 Online reviews are second only to personal advice from a friend as the driver of purchase decisions; user reviews are more influential than third-party reviews. ("Web users and web community," Rubicon Consulting, Inc. October 2008) 17/09/09 © Justin Souter 2009

59. Stats from Marketing Charts - 8 46% of Britons now read online reviews or recommendations on a specific product before buying it and 32% are willing and able to publish a review online - but only 19% would be prepared to write a letter to a retailer. (1&1 Internet survey of 1600 consumers, December 2008) 17/09/09 © Justin Souter 2009

60. Stats from Marketing Charts - 9 17/09/09 © Justin Souter 2009

61. Stats from Marketing Charts - 10 17/09/09 © Justin Souter 2009

62. Stats from Marketing Charts - 11 17/09/09 © Justin Souter 2009 http://www.marketingcharts.com/interactive/socnets-have-miniscule-effect-on-brand-perception-9732/

63. What to do (2) Encourage Put call out to those already interested Provide environment to let this flourish “ Be Michael Dell” Build up Social Capital Rare face-to-face Like indicators on a car on motorway Build up goodwill create context for positive interactions online 17/09/09 © Justin Souter 2009