Using Social Media to Expand Your BVFLS Practice
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Using Social Media to Expand Your BVFLS Practice
- 1. Using Social Media to Expand Your BVFLS Practice Rod Burkert CPA/ABV, CVA September 19, 2012
- 2. Brief Bio I am the founder of Burkert Valuation Advisors, LLC. My assignments focus on income/gift/estate matters, specializing in private companies and investment partnerships. I also provide report review and project consulting services to assist attorneys and other practitioners with their engagements. I am leveraging social media to build a mobile consulting practice, which allows me to travel full time in an RV Email: rod.burkert@burkertvaluation.com throughout the United States and Cell: 215-360-6100 Canada with my wife and two dogs. Skype: rodburkert 2
- 3. Today, this is how I (we) roll … 3
- 4. How did I get there? Streamlining my engagement letters Reinventing My Practice Admin Decluttering my reports Requiring payments via wire and PayPal Specific project consulting services Work Little/no litigation work Lotsa investment partnership work Exploiting 20 years of client contacts Mktg Using social media for marketing 4
- 5. How do you get there? Note … if it was easy, everyone would be doing it. 5
- 6. How’s your message playing? 6
- 7. The Holy Grail of Marketing But engaging without publishing Can just is passive engage marketing Or And Can just Publishing self-publish without engaging is missing opportunities Source: Michelle Golden, Golden Practices 7
- 8. Who’s using any kind of social media? 8
- 9. The Major Media of Social Media • Facebook (friends) • Twitter (fans) • Google+ (circles) • Blogging Leapfrog potential • LinkedIn (connections) 9
- 10. How do you pick the right hangout? It depends on … Your comfort level with each platform Amount of time you have to invest Where your desired contacts are found 10
- 11. Why I Am Liking Google+ Google uses data gathered in Google+ to improve search rankings and finadability of information. – You (or your website) are likely to get better search rankings if you use Google+. But the most important feature of Google+ is a much better way of organizing contacts. – E.g., in Circles you can group people by whether they are a business contact, a subject matter expert, or a personal connection … and interact accordingly. 11
- 12. ç 12
- 13. If You Don’t Get Anything Else Out of This Social Media Segment Item #1 13
- 14. PLEASE Include a Profile Picture 14
- 15. If You Don’t Get Anything Else Out of This Social Media Segment Item #2 15
- 16. Change Your LinkedIn Headline … From This 16
- 17. Change Your LinkedIn Headline … To This 17
- 18. If You Don’t Get Anything Else Out of This Social Media Segment Item #3 18
- 19. Change How You Connect … From This 19
- 20. Change How You Connect … To This 20
- 21. If You Don’t Get Anything Else Out of This Social Media Segment Item #4 21
- 22. Social Media Is NOT All About You 22
- 23. It’s a Place to Say/Ask Something Put forth an idea or an opinion. 23
- 24. It’s a Place to Share Something A tip … a resource … an article. 24
- 25. It’s a Place to Promote Something Like the great work someone did for you. 25
- 26. How I Use Social Media MY GOAL is to build an audience Convert them to a community (tribe) And drive awareness to products and services I offer or plan to offer. – 1 to 2+ hours per day – Because it replaces what would be my face-to- face marketing efforts 26
- 27. Connecting is the New Black It’s not what you know. It’s not who you know. It’s who knows you. 27
- 28. Social Media Has a Business Purpose Setting yourself apart to gain a competitive advantage requires: Finding new ways to showcase your skills, knowledge, education, experience, and training. Engaging others (who have influence with your clients/referral sources) in meaningful interactions. 28
- 29. And By Using Social Media You Can Achieve far greater reach With more dramatic results In less time At less cost 29
- 30. Social Media Is Not a Fad There are elements of necessity and survival in adopting social media Today’s firm leaders are retiring and a younger generation is lining up to take their place They're bringing with them new work habits, expectations, and technologies Firms that don't evolve to include these things in their DNA may soon find themselves extinct 30
- 31. If You Are Using Social Media To Expand Your BVFLS Practice What’s your experience been? What would you say to the people who aren’t trying it? 31
- 32. If You Are NOT Using Social Media To Expand Your BVFLS Practice Why not? What are your hurdles? 32
- 33. And The Survey Says … [Only] 14% of all firms “Use social media” – Range by firm size: 9% to 44% [Only] 4% of all firms “Have a blog” – Range by firm size: 2% to 20% Source: 2010 PCPS/TSCPA National Map Survey, aicpa.org/2010MAPSurvey All firms = 2,937 firms 33
- 34. What Is Worth of Social Media? Social Media expands Social Network Intellectual Capital Value Creation 34
- 35. Have You Heard the One About Social Media’s ROI? SM is a tool - Like a phone or computer or fax machine - What’s the ROI of a telephone? If you experience poor results, you likely – Picked the wrong tool – Used it ineffectively 35
- 36. In Big Picture Goal of Increasing Firm Profits and Profitability People do business with people They know They like They trust They remember (and can find!) Social media can help with all of these 36
- 37. Social Media Enables Connections Fellow Professionals Social Media Clients Referral Sources (and potential clients) (and potential referral sources) 37
- 38. Unlike One-Way “Broadcasting” of Traditional Marketing Social media allows your messaging to be based on 1:1 relationship marketing - You provide focused evidence of your credibility - While sharing glimpses of your personality - To multiple prospects - Simultaneously 38
- 39. In Your Online Interactions, Strive To Be Authentic - Be true to who you are Transparent - Be honest about your actions and purpose Helpful - By educating, supporting, connecting others 39
- 40. The Online Community Embraces: Dislikes: - Usefulness - Advertising - Authenticity - PR Spin - Altruism - Self-Promotion - Validation by 3rd parties (The firm doesn’t get it) 40
- 41. Best Summaries I’ve Seen 41
- 42. What’s the One Question You’d Like to Ask to Get Started On Facebook Twitter Google+ Blogging LinkedIn 42
- 43. Great Books to Get You Started Or Keep You Going Social Media Strategies for Professionals and Their Firms: Guide to Establishing Credibility and Accelerating Relationships 43
- 44. Great Books to Get You Started Or Keep You Going Google+ for Business: How Google’s Social Network Changes Everything 44
- 45. Great Books to Get You Started Or Keep You Going What the Plus! Google+ for the Rest of Us 45
- 46. A Gentle Plug The Value Examiner, published by the National Association of Certified Valuation Analysts 46
- 47. Thanks for your time and attention 47
Notas del editor
- Started in March 2010 … came back 6 months laterSold house on Craig’s List in late 2010 … been traveling ever since
- It started with finding an abandoned 1 year old, 70 pound German Shepherd.
- Wherever “there” is for you.
- Let’s get started on the SM segment.What IS your message?
- Show my tee shirt
- Marketing is a strategy. SM is a tool/resource (like public speaking, client entertainment). How you use SM is a tactic.
- Facebook is wonderful for connecting with friends and friends of friends.Twitter is excellent at providing real-time information.Google+ is more open than Facebook, more deep than Twitter, and more rounded than LinkedIn … because it shows off your personal interests along side of your business interests (depending on what you choose to share and post).Blogging gives you opportunity to establish yourself as a subject matter expert.LinkedIn is a great business networking tool. Only platform that allows you to export emails to Outlook, etc.The issue with SM networks for a business perspective is that you must find out if your current and prospective colleagues, clients, and referral sources actually use the network.Thus, don’t fall in love with a network. Fall in love with the people and go with the network that let’s you reach them.GO TO MY WEB BROWSER
- Take some time to discuss Friends, Fans, Connections … and compare to Circles.
- Relating most of the 4 points to LinkedIn since that is most likely SM platform that y’all share.
- Who would you rather do business with?
- Use words people would use to find someone who does what you do.Don’t use jargon or industry terms of art.
- The more you talk about yourself, the more people tune out.
- So … make it a habit to reach out to five connections each week with the sole purpose of saying hi, thank you, I see you got a promotion, wonder what you’ve been working on, etc.
- 2 objectives of social media: (1) credibility and (2) networking Relationship Marketing (what marketing has always been about)
- SM tools get people to the point of personal interaction faster because strong relationships are developed more quickly when you don’t have to wait to be together (again) in the same physical space or wait for a “good enough” reason to call.
- E.g., today’s younger attorneys are comfortable searching online for products, friends, etc.What makes you think they don’t feel the same about searching for experts.
- Biggest concerns are (1) risk exposure and (2) time wastingAlso, concerns about use/abuse by employees; IT security threats; bandwidth consumption; and adding yet another “thing” to be done.
- Translation: there is a lot of opportunity out there
- Don’t overlook social media as a recruiting tool.Also, allows others in firm who are not comfortable with “traditional” marketing to bet “out there”
- A big question that you hear today.Social media is changing the way knowledge workersCommunicateCollaborateReferSM is a tool that “you have to have” … just to be in the game.
- If people search and cannot find you, you lack credibility.The best place to be found online are generally outside of your website.
- One-way content delivery = broadcastingTwo-way channels enables relationships
- The more people who like what you share, the more they’ll want to engage with you about your business. In opposition to “What’s in it for me,” consider “What can I do for others that can help them?” What this brings you, if executed in earnest, is respect and admiration from people in your community.
- Word of mouth is not a function of SM … SM is a function of word of mouth.Be the elbow of every deal … without ever asking for reciprocity.
- There are also various blogs devoted to social media, in general, and each platform in particular.