Social Media ROI: Why Does It Matter?

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Accountants love numbers and they love results, but what they don’t like is the inability to gain any kind of ROI or return on investment for marketing and public relations activities.

In today’s competitive marketplace, sticking your head in the sand isn’t the answer, especially when it comes to participating in social media. Accountants who develop a strategy and regularly participate in social media are the ones receiving more referrals, converting prospects to clients and retaining clients for the long term.

Of course, the are more ways to gain and keep clients than just using social media. Although social media is just one tool in an entire array of marketing and PR tools, it’s also one of the most fun and engaging ways we have to communicate in today’s high-tech environment.

What most accountants want to know is how they can maximize their exposure on social media while minimizing the actual time they spend developing relationships LinkedIn, posting status updates on Facebook, tweeting and retweeting posts on Twitter, and even posting videos op Vine. Essentially, using social media boils down to these 5 points:

  1. Social media is about building relationships
  2. Social media is not hard to learn
  3. Determine the ROI
  4. Position yourself as an expert
  5. Try and try again

Mastering just one of these in the short-term will do wonders for you and your marketing program. Doing nothing not only makes you complacent; another accountant will swoop in and snatch up whatever business may have come your way – and that includes your present clients.

One question I often get has to do with which of the Big 3 – LinkedIn, Facebook and Twitter – should an accountant focus on the most. My answer is simple: spend as much time as you can on as much social media as possible, but think about what effort will give you the most return for your investment of time.

Yet, the one I recommend most is LinkedIn because it is considered the most “professional” among all 3 and is probably the easiest to navigate. There are also some creative ways to use LinkedIn that help market you and your services without you doing much of anything. 

If you want to learn more ways to get the most out of social media, then join me for The ROI of Social Media: What’s In It for Me?, a free webinar sponsored by the National Society of Accountants, on Tuesday, Sept. 24 at 2 pm, EDT. I’ll explain the 5 points in more detail, show lots of examples of firm and provider social media, and take you through an exciting social media case study.

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