LEAD STORY

Social Media, Done Right, Can Pay Big Dividends for Your Business

Never has it been so easy to tell your firm’s story. If having a virtual storefront that is your Web site isn’t enough, now social media tools like Facebook, Twitter and LinkedIn can help you connect to important communities in new ways.

Those communities range from existing and potential clients, future employees, other CPAs and to the general public. Maximizing your relationship with these audiences, however, requires a strategy.

“The sky is the limit with this new technology. It’s a chance to market your firm, stir student interest in the accounting field, or to share ideas with colleagues across the country,” said Robert A. Mancini, executive director of the RI Society of CPAs. “Like any rapidly evolving technology there are, of course, a lot of questions and concerns.”

RISCPA invested in the integration of social media to better serve members and expand its client list. It’s also trying to take the mystery out of the technology for membership by providing education services, following in the footsteps of The American Institute of CPAs. The AICPA, for example, has developed content that can be used on Facebook, Twitter, LinkedIn and other social networking accounts – content that the RISCPA has used to help deliver the CPA message.

This content includes a series of tax “tweets” and "status updates" that can be simply cut and pasted into individual or company status bars to build awareness of CPA tax expertise, relevant tax information and year-round tax services. There are three varieties of tweets and updates designed to start a conversation, reach new prospects and better position CPAs and their firms as the premier tax experts.

This resource can be found here.

Social media’s far-reaching impact

“These days, people get their information from many different places. To succeed in communicating, an organization has to put the information in as many places as possible so it’s as easy as possible for audience members to find it,” said Steven J. King, P.E., managing director of the Quonset Business Park.

The Quonset Business Park recently launched a comprehensive social media plan with the help of New Harbor Group, the Providence-based communications firm responsible for RISCPA’s social media integration.

Simply put, King says, the resources are used to tell Quonset’s story and reach the people who need to hear the story.

King said New Harbor provided the resources and know-how to develop a broad plan for social media. Through Twitter and Facebook, Quonset provides news items generated either by traditional media outlets or the Business Park itself. King said Quonset’s social media audience includes opinion leaders and members of the media throughout the region, existing and potential Quonset tenants, job seekers and local residents.

How do CPAs use these tools?

The Massachusetts Society of CPAs has played an important role in educating its membership on the role of social media and has used it as an effective way to engage and recruit more members.

Kara Kieran, MSCPA’s communications/membership supervisor, said her organization primarily focuses on LinkedIn, Facebook and Twitter. The organization has a members-only group on LinkedIn that has over 1,200 participating members.

For CPAs, Kieran said LinkedIn clearly has the most discussions and postings when compared to other social media channels.

“I think the members tend to use LinkedIn for peer-to-peer networking and professional discussions,” said Kieran. She added that Twitter is, however, becoming more popular, particularly for announcing firm news, highlighting employees quoted in the media, and posting general information for consumers and potential clients.

The MSCPA is active in educating membership about the social media tools through articles in its magazine, e-newsletter and half-day continuing education sessions.

“There is a misconception that social media is a waste of time and a distraction. However, if it is used properly in a business setting it can be a powerful recruitment and business development tool,” Kieran explained. “It is also an excellent way to connect with current clients. As long as staff understands the organization's expectations then there are many pros to social media.”

Her advice to firms is to create a social media policy and designate an employee or employees to shape the message that will be distributed.

“As with any marketing materials and literature it's important that there is a consistent look, feel and voice to the messaging,” Kieran said.

Effective for employee recruitment

For some CPA firms, an investment in time to use social media is well spent when it comes to attracting new accountants and other staff.

Anthony R. Wheeler, associate professor of human resource management at the University of Rhode Island, said LinkedIn and Facebook provide cost-effective tools to get a small firm’s name out into a college community, for example.

“Recruitment is extremely expensive. For a small firm that doesn’t have the time or money to do heavy recruiting, LinkedIn is an easier way to establish relationships with faculty members, for example,” he explained. He said by connecting to accounting professors through LinkedIn, firms can pass along job, mentoring and internship opportunities. In return, the professor may share such openings with students.

Wheeler added that LinkedIn and Facebook groups can be shared with university career services offices to be used on their Web pages. Firms could also try to connect with student organizations, like a college accounting club.

He said LinkedIn and Facebook groups can be created for these purposes with virtually no out-of-pocket expense. Wheeler added that these groups could convey the usual messages used in more traditional recruitment like the firm’s compensation levels, benefits, work-life balance options, skill requirements and corporate culture.

Kieran said describing corporate culture is particularly effective through these tools, in which photos and videos can be used to tell the story.

“Through social media, the user can see the face of an organization and get a feel for the ‘personality’ of the firm. This is helpful in client relations, business development and employee recruitment,” she added.