how social media marketing strategies can level the playing field for small firms and career-minded professionals.
by rick telberg
facebook, linkedin and twitter are ushering in a new age of opportunity for tax, accounting and finance professionals, but only if they are savvy and progressive enough to seize the advantages, according to one of the profession’s most seasoned and visible advisers.
the technologies and tactics of new social media marketing can provide cpas with never-before-seen avenues for connecting with clients and colleagues, competitors and peers, says michelle golden, the author of the aicpa pcps social media toolkit, and now the new book “social media strategies for professionals and their firms,” with an introduction by bruce w. marcus, a marketing legend in his own right.
golden is a pioneer of new media in professional services, credited with 12 of the first 20 blogs erected by cpa firms and influential in another third of today’s 200-plus active cpa blogs. and yet, her enduring message is that, despite the wonders of the internet, the basics of marketing and delivering professional services remain unchanged. from facebook to blogs, youtube to podcasts, email promotions to digital data-mining — it’s all electronic all the time. and, in professional services, it’s all social.
for instance, worries that web sites like facebook will undermine personal or staff productivity or threaten privacy and security are overblown. they probably said the same thing when the first telephones started appearing in accounting offices. “but,” golden notes, “you don’t lock down the telephone. you manage it, like everything else.”
in the same vein, the advent of social media shouldn’t change your fundamental business or marketing strategy. “social media,” she says, “is no more a strategy than the chamber of commerce is a strategy. it’s just a tool.”
but, like many early-stage technologies, the social media phenomenon is helping to level the playing field, giving the smallest businesses and professional practices the same tools, power and reach that have traditionally been deployed by only the largest companies and firms.
“you can compete with the big guys,” she says. but making the most of social media is not just about networking; it’s about leverage — using messaging in one medium to reinforce messaging in another.
for example:
freed maxick battaglia in buffalo, n.y. blends old and new media into a multi-channel strategy. in one case, the firm rented a digital billboard to display the firm’s tweets, directing motorists to tune in to a live radio show featuring partner dave barrett speaking about estate taxes.
mark bailey & co., reno, nev., offers gray matters, a blog delivering “resources for public company cfos and controllers.” in the blog’s first days, a visitor left a comment — a prospect, which the firm converted into a client. even the most skeptical partner in the firm exclaimed, “i am a convert!”
mckonly & asbury, camp hill, pa., offers a blog master-minded by partner scott a. heintzelman, cpa, cma, cfe — the exuberant accountant — who systematically profiles local family-owned businesses and their issues. some are clients, some aren’t. among those that aren’t, many are prospects. and some of those are becoming clients.
the key, most agree, is to practice a philosophy of generosity and abundance, sharing what you know and a little bit about who you are and how you think. some call it “give to get.”
it’s really not much different than in the offline world, where you might be mixing at an open bar and explaining the latest tax changes to a new acquaintance. but with social media marketing, you can extend your services exponentially. and many cpas already are. how about you?
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can social media really work for cpas? or is it all hype? how are you planning to use facebook, twitter or linkedin for business? tell us in comments here.
8 responses to “the facebook factor for cpas”
jason m blumer, cpa
i love the quote, “you can compete with the big guys.” it’s so true, and now we’re finding we can compete globally too!
excited about the changes social media has brought to our industry.
gloria sargent
using social media can be a great way to “spread the word” about your business.
however, there is a negative side to the ease of disseminating information to a wide population – the untruth.
i have already spoken with one company that has lost business from negative information spread about them. businesses must be prepared to correct information that is not true, and confront negative information should it be true.
mistakes are going to happen, we all make them. social media speeds up the ability to spread this information to that wide audience, which means businesses need to have an action plan for addressing when they are confronted with both disgruntled customers and misinformation.
i think customers appreciate a business that admits to a mistake and takes steps to correct it in a positive manner.
rick
thanks for the link, scott. 52 entries is probably a pretty good rule of thumb. blogging is hard work. but there are easier things to do with social media. today, it’s linkedin; but some of us are old enough to remember list-serv’s. there are some list-serv’s in the profession that are very active and useful. i think you already know what i mean, but for other readers, if they’re interested in joining a list-serv, i’d suggest starting with your state society. many state societies have one or two very busy, very useful list-serv’s.
scott bonacker cpa
i follow several blogs to help keep on on developments in taxation, and i’ve thought of trying to write one myself – or a newsletter. one thing that has kept me from doing that though is the realization that it takes a consistent effort over a long period of time to generate marketing results. i admire those who are able to do that.
this article mentions that it takes 52 entries to reach a ‘tipping point’.
http://www.law.com/jsp/nlj/pubarticleprinterfriendlynlj.jsp?id=1202475666838
scott heintzelman
rick
thank you for the kind words about mckonly & asbury and my blog. to be mentioned with the michelle golden is very special. thank you.
i hope you are well. have a great day.
accounting community
rick,
great article and of course a very timely topic. as we all know social media comes in several different forms and can be quite overwhelming. we all have our personal and professional lives and of course we have two social mediums to cover that with facebook (personal) and linkedin (professional). the key is to approach each of these with proper goals and have a clear path on what you would like to accomplish.
michelle golden
rick, many thanks for your article. you are most kind in discussing the book with your readers. and generous in your description of me. i’m pretty sure i blushed.
the book covers, in depth, the use of blogs, linkedin, twitter and facebook. specifically, how professionals can leverage these tools. this is different than non-service and non-knowledge-based businesses. cpas are, and always will be, relationship-based business developers. using social media to contact others you know (and don’t know) truly is just the new phone or the new email.
facebook is definitely a very hot topic for reasons like john, above mentions, and i think that, although it isn’t for everyone (no one should do something they are really uncomfortable with-john might like to read my blog post on managing your private life on facebook while developing business http://bit.ly/9apqsd ) it has the potential for some of the greatest results in the form of building strong relationships, both with new people and people you already know but can know better.
the other tools are worth looking at, too. linkedin is a good place for cpas to get started being “social”–every cpa should have a robust profile on linkedin, but that is not the social part. when people say “i’m on li and it hasn’t brought me any business” that means they merely have a profile and aren’t leveraging the tool. the reason it’s a good place to start is that it is all business. no worries there about too much mixing of business and personal. this makes for a lot less stress for people new to social networks.
thanks again and i look forward to other readers’ comments! also, there’s a page on facebook dedicated to continuing discussion about the book or about social media in general, if anyone is interested. it’s: http://www.facebook.com/sm.strategies.4.professionals.
john t. horell
rick,
i’ve established two different facebook accounts. one i use to connect to other professionals and clients and the other is strictly for family and close friends.
i keep personal information off of my professional account. that way i can safely share family photos and stories without worrying that the information is being broadcasted to my professional contact list.
my professional facebook account is more like a business card and it gives me an opportunity to share information about taxes and the services we offer.