Intro to Social Media - for Accounts (the real thing)
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Presentation I delivered to the DFK UK & Ireland Annual Conference, held on October 2nd, 2009
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Intro to Social Media - for Accounts (the real thing)
- 1. Introduction to Social Media aka Kipling’s Six Friends Justin Souter
- 2. What? nolifebeforecoffee 29/09/2009 2 Introduction to Social Media
- 4. What is it? Also Ratings & Reviews Document & presentation sharing N.b. importance of using tools together Yes, so what is it? Technology Social Movement Mindset Computer-mediated world Web 2.0 – users created their own content “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. under-lined links) 29/09/2009 4 Introduction to Social Media
- 5. Overwhelming amount of tools :’( 29/09/2009 5 Introduction to Social Media
- 6. Common tools [TO BE ONES FOR BUSINESS?] Blog easy-to-use publishing platform, sorted by date Social Network online site with various collaboration tools Twitter like text messaging, but actually powerful messaging hub – real time communications Forums Online discussions Customer service Social bookmarking Photo & video sharing Music 29/09/2009 6 Introduction to Social Media
- 7. Stats – give you an idea of the trends Blogs 96.6 million US Internet users read a blog at least once per month, representing 48.5% of the Internet population. By 2013, 128.2 million people, or 58% of all US users, will take part. Facebook > 300 million active users Fastest growing demographic is >= 35 Twitter Film star Ashton Kutcher has 3,669,148 ‘followers’ Jack Welch has 880k, Davos has 1.2m Projected to have 18m users projected for end 2009 29/09/2009 7 Introduction to Social Media
- 8. Why? bitzcelt 29/09/2009 8 Introduction to Social Media
- 9. Value of Social Media according to US Executives, July 09 – emarketer.com 29/09/2009 9 Introduction to Social Media
- 10. Reasons that US Executives use Social Media, July 09 29/09/2009 10 Introduction to Social Media emarketer.com
- 11. Reasons that US Executives do not use Social Media, July 09 29/09/2009 11 Introduction to Social Media emarketer.com
- 12. Measurable gains from ‘Web 2.0’ - McKinsey 29/09/2009 12 Introduction to Social Media
- 13. 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 Future 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. 29/09/2009 13 Introduction to Social Media
- 14. Social Media effectiveness - Twitter 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) 29/09/2009 14 Introduction to Social Media
- 15. Social Media effectiveness - Rozmic – 1 tweet led to 60 sign-ups for new service (60 x £8.50/mth) 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! 29/09/2009 15 Introduction to Social Media
- 16. 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.” Ruder Finn PR Collaboration RMT extranet Reuters example at Fujitsu 29/09/2009 16 Introduction to Social Media
- 17. 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 29/09/2009 17 Introduction to Social Media
- 18. 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 contextblog post 29/09/2009 18 Introduction to Social Media
- 19. B2B Examples ArcelorMittal To help achieve successful merger Videos & blogs Scania: Social Media News Room Present SM content in one place American Express social media forum / social network connects with small business owners Pitney Bowes uses forums for B2B customer service Thanks to Social Media B2B 29/09/2009 19 Introduction to Social Media
- 20. Case Study – Social Media disaster Original ad http://www.youtube.com/v/BmykFKjNpdY Spoof http://www.youtube.com/v/TpqpAGLS2t4 Props to Neville Hobson: http://www.nevillehobson.com/2008/11/18/the-motrin-storm-breathtaking-speed-and-scale/
- 21. Motrin: Twitter 29/09/2009 21 Introduction to Social Media
- 22. Downsides Motrin (as we’ve seen) Dell Hell – turnaround to @DellOutlet & $3m sales Copyright issues – sharing gets abused Phishing / spam / identity theft Time wasting Time consuming 29/09/2009 22 Introduction to Social Media
- 23. When? sea turtle 29/09/2009 23 Introduction to Social Media sea turtle
- 24. When? "As I've said many times, the future is already here. It's just not very evenly distributed.“ - William Gibson 29/09/2009 24 Introduction to Social Media
- 25. How? kevindooley 29/09/2009 25 Introduction to Social Media
- 26. The four-step approach to the groundswell P O S T PeopleAssess your customers’ social activities Objectives Decide what you want to accomplish StrategyPlan for how relationships with customers will change TechnologyDecide which social technologies to use
- 27. Listening Talking Energizing Supporting Embracing Groundswell objectives Roles Research Marketing Sales Support Development Key roles and their groundswell objectives
- 29. What to do – practical steps 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! 29/09/2009 29 Introduction to Social Media
- 30. What to do - strategy It’s unlikely to be you doing this, so find someone who is doing it already 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 29/09/2009 30 Introduction to Social Media
- 31. 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 29/09/2009 31 Introduction to Social Media
- 32. 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! 29/09/2009 32 Introduction to Social Media
- 33. 29/09/2009 33 Introduction to Social Media
- 34. 10 ways to measure social media success Traffic Interaction Sales Leads Search marketing Brand metrics PR Customer engagement Retention Profits Props to Econsultancy 29/09/2009 34 Introduction to Social Media
- 35. Social Media Measurement Here's a framework for measuring social media: Attention Participation Authority Influence Sentiment 29/09/2009 35 Introduction to Social Media
- 36. Where? and Who? sighmon 29/09/2009 36 Introduction to Social Media
- 37. Walt Jabsco 29/09/2009 37 Introduction to Social Media
- 38. Where? Context Internal External Stakeholders Online and offline “Top 2 inches” Size matters Large firm Got the resources Small / micro firm Punch above your weight Medium? Dip your toe Medium / small Do you really have time?
- 39. 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 Stephen Slater - @cyberaccountant Phil Richards - @bfcauk & @philrichards Toni Hunter @ToniHunter The accountants’ guide to Twitter Brought to you by: Emily Coltman - @Ask_M 29/09/2009 40 Introduction to Social Media
- 41. And finally… Sister72 29/09/2009 41 Introduction to Social Media
- 42. Phil Richards “If you come from the "intention" just to get business, then its more difficult to take part ( IMHO ), if you come from the intention of sharing, helping, community etc.. then whilst business does come, its not the primary intention, and getting involved has more meaning.” 29/09/2009 42 Introduction to Social Media
- 43. 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 29/09/2009 43 Introduction to Social Media
- 44. Again, Dennis Howlett […] think more about communications, internally at first and how sharing information might better serve the practice. Professionals should be looking for ways to better collaborate both internally and among their communities. We’re starting to see that at ion. And it’s not about using these tools as direct marketing tools or gimmicks but about the indirect effects that arise out of your efforts at supporting those around you through the stories you tell. [my italics] 29/09/2009 44 Introduction to Social Media
- 45. Military of Millennials article - 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.”[!] 29/09/2009 45 Introduction to Social Media
- 46. Sister72 Call to action 29/09/2009 46 Introduction to Social Media
- 47. Please sponsor me! Action for Children “tackle the root causes of youth homelessness gets thousands of children and young people off the streets into secure accommodation with education and training opportunities” Byte Night Sleep out of doors – tonight! Go to http://justgiving.com & search for Justin Souter Would love to get to £750 29/09/2009 47 Introduction to Social Media
- 48. Souter Consulting Limited What can I do for you? Please contact me to see how we can work together! Justin Souter http://souterconsulting.eu Justin.souter@souterconsulting.eu 07717 725504 29/09/2009 48 Introduction to Social Media
Editor's Notes
- 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 involvedWhere is it happening?OnlineIn people’s headsWho should be involved?At the end I hope you will better understandHow you clients might use itHow you can use it yourselves
- Social Media – tools like blogs, Twitter, wikis, ratings & reviews Twitter – where you communicate with one another in 140 characters of less LinkedIn – online networking site, designed to help businesses Blogs, blogging – surprisingly mainstream: many articles you find by searching Google are actually blogs Instead of creating new pages, you create a new ‘blog post’, which when published is sorted reverse chronologically
- Ratings & reviews – e.g. Amazon & BizWiki example 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 ;-)AlsoDo 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.
- Blogger, WordPress, Movable Type, Typepad etc.
- Facebook stats50% of our active users log on to Facebook in any given dayTwitterPoint being that 3.6 million people receive whatever 140 characters he tweetsTho 60% of Twitter Users Quit Within the First Month This is here to frame the argument, rather than being directly relevant to you
- Fantastic feedback from an NE VC, formerly an Accountant: Can you remember the time before the fax, and then e-mail? He’s suggesting that this is the next generation of tools that we all need to prepare for He suggests it’s about matching the demographic of the Client: Older customers prefer face-to-face meetings Younger folk happy to speak on the phone Then there’s those perfectly happy to e-mail This is the next wave
- By idiom of our Youth – I mean that to win business from the next generation of customers, it helps to be able to talk their language
- Save money, but increase the impact of your knowledge
- Amherst College is a private arts college in Massachusetts, USA that was ranked ninth in a Wall Street Journal survey of feeder colleges to the top 15business, law and medical schools in the country. Of the 438 students who enrolled in 2008, only 1% said they could be contacted via a landline, a recent survey found. But 99% had a Facebook profile. Professional services firm Ernst & Young has a voracious appetite for new recruits: it adds 3,500 graduates to its payroll every year. The figures from Amherst College demonstrate why, for Ernst & Young, having a recruiting presence on Facebook is not so much an innovativehttp://www.information-age.com/research/650236/ernst-young.thtml
- When two Domino’s Pizza employees filmed a prank in the restaurant’s kitchen, they decided to post it online. In a few days, thanks to the power of social media, they ended up with felony charges, more than a million disgusted viewers, and a major company facing a public relations crisis.In videos posted on YouTube and elsewhere this week, a Domino’s employee in Conover, N.C., prepared sandwiches for delivery while putting cheese up his nose, nasal mucus on the sandwiches, and violating other health-code standards while a fellow employee provided narration. ““One of the main benefits that comes from understanding the audience’s intent, is that we as PR professionals can begin to tap into to the always-on focus group that is social media. Looking to add value for users means that we are gaining insight about how to optimize not only our communications, but the brand itself.”Read more: http://www.corporate-eye.com/blog/2009/04/social-media-the-always-on-focus-group/#ixzz0RHpTbWjm”
- Ok, so this is not immediately applicable to you, but it gives you an idea of what can happen!
- Not saying that Accountants would be the first people to make edgy adverts and put them on YouTube but hopefully you can get a feel for potential impact!
- It’s about taking some small steps, and learning how to walk in this new World As we’ll see in the How? / Practical steps – there are things you should be doing now, even if you don’t intend to be active in the foreseeable future
- Protect your name. Even if you aren’t planning to use the applications right away, grab a username. Just like with Web sites, Facebook and Twitter profiles are going fast. If you don’t grab your name now, someone else might. Then down the road, when people are looking for you, they will find someone else. If your name is a common one, it might make sense to add CPA or your town after your name. Start slow. It’s OK to be a fly on the wall, just watching what other people are doing before throwing your own information out there. If your business doesn’t want to be seen or heard, stay away. Establish goals and revisit them often. Figure out what your firm wants to achieve by using social media. Is it to draw hits to your site? Attract clients? Track the competition? Learn and grow intellectually? How often will you post? What types of things will you post? Check in quarterly or even monthly to re-evaluate what’s working and what needs to change. Commit. Don’t start social networking if you aren’t willing to spend time building relationships with your friends and followers. If your firm is only going to post once a week, state that on your Web site to set expectations. Someone in your firm should “own” the social networking project. Hint: It might be younger staffers who understand these tools better than partners because they’re using them in their personal lives. Find fans and potential employees. Some accounting firms have established Facebook groups to get their staff all talking in the same place. If firms have younger employees, those employees are likely on Facebook and could be talking about the firm. Create a place for them to do it so partners can be part of the conversation, too. Some college students have joined those firms’ groups as “fans,” declaring they think those firms are cool. What better way is there to recruit new accountants? Consider multiple personalities. It may be wise to create one account for the entire firm, separate accounts for each employee or separate personal and professional accounts. Adding outside voices brings personality. On the other hand, it can create confusion for the corporate brand if messaging isn’t consistent among all employees. In that case, it may be wise to have someone be the primary filter through which all communication flows—at least until executives feel comfortable in whatever social networking medium they’ve chosen to explore. Act professional. Whatever you write on these sites might live in cyberspace for a long time. Don’t post anything you wouldn’t want clients or colleagues to see. Highlight area expertise. Success stories include a CPA firm that specializes in dentists and Tweets as dentalcpa to drive traffic to its Web site and blog, and an outsourced CFO who found her largest client by Tweeting QuickBooks tips. The client approached her after reading the Tweets, and the CPA didn’t even have to make a pitch to land the business. Ask questions. While many people push information to others, at least one participant in the panel session said she uses LinkedIn to pose questions to professionals in the industry. Many people are willing to offer free advice. Don’t abandon face time. Social networking sites could help people connect with colleagues and prospects they’d never meet otherwise. But sometimes meeting for drinks or lunch can draw people together like nothing else, especially when those people have never met in person.
- FutureCrowdsourcingTwitter exampleLots of followersFeeling like atop a pedestalask your community