Six months ago the answer might have been a resounding “no” or even a high pitched guffaw, but now you may be surprised to find out the answer is “maybe.”
Sure. But if you assign an ROI figure to “fun” then our web team actually turned a small profit in the last quarter.
Of the top 10 accounting firms, most are actually using social media tools such as Twitter and FaceBook. Recruitment is their main focus and very few have a presence in the blogosphere. While attracting talent is a far cry from blogging about IFRS vs. GAAP, it is still a commendable step forward for these accounting and tax heavyweights. Next, these firms need to connect their new social media outposts back to the thought leadership on their websites and raise their overall level of engagement.
Individuals vs. Firms
Social media is all about engagement and the individual. Since CPAs don’t meet the typical blogger profile, many accounting firms feel more comfortable driving social media from the HR function. But It is important that they also focus on emerging thought leaders as part of their social media strategy, including connecting them to recruiting efforts.
Regulatory Concerns
Accounting firms must keep abreast of regulatory and complicated tax law changes on behalf of their clients. Regulatory considerations, in particular, can give pause when social media campaigns are in the planning stage and they should not be ignored. However, accountants also have a vast repertoire of knowledge that can be shared. They are adept at understanding and commenting on complex IRS and SEC communications for clients. Social media tools allow them to break down knowledge into even smaller, digestible pieces and share them with wider audiences.
Put Why Before How
Tools that accounting and other professional services firms can evaluate before starting blogs or Twitter feeds include wikis, forums, blogger comments, RSS feeds, Digg communities, and/or SlideShare. As with any marketing or PR tactics, the key is first agreeing upon and understanding your firm’s strategy. The tools come last. Or as social media strategist Jason Baer of Convince and Convert said in a summer webinar “put the why before the how.”
The accounting profession is beginning to turn towards social media. The CPA Leadership Institute had a webinar yesterday entitled: Embracing Social Media. The premise was “understand how to connect with others, market your firm, and recruit using social networking.” It marked the third webcast on this topic.
Do you think accounting firms should be practicing social media? Would you follow your accountant on Twitter? Why or why not?
(photo by Noise to Signal )
To reach Cortney:
Phone: 212.840.1661
Email: cortney@blisspr.com
Twitter: @cortneyr
LinkedIn: Cortney Rhoads Stapleton
12/03/2009 at 1:37 PM Permalink
I tweet (IFRSCanada) and blog (http://wallaceifrsblog.ca/) about IFRS and related matters. Personally I love to explore the ideas and stimulate debate, but a lot of accountants are just too cautious/formal (or perhaps just too bogged down by other things) to do it. Plus, although uncertainty is a fundamental aspect of accounting, accountants don’t often like to grapple with it in their external communications. For me personally it is not so much about recruiting specifically as a kind of intellectual branding (which should of course contribute to being a more attractive destination employer). But whether this gets us anywhere strategically or is ultimately just about me having fun is difficult to assess at this point…
12/03/2009 at 4:56 PM Permalink
John – thank you for weighing in – that is great and I look forward to following you and checking out your blog. You hit the nail on the head regarding the uncertainty; most professional services firms deal with some level of uncertainty but accounting more so and it is not a comfortable space for anyone, businesses or clients. I would not downplay your “intellectual branding” at all – in the end isn’t that a lot of what public relations and thought leadership is about. This becomes even more important with the advent of social media and I think it is great that you are already in essence ahead of the pack.
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