Transcript Presentation Title

The ROI of Social Media: What’s In It For Me?
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The ROI of Social Media:
What’s In It For Me?
Scott H. Cytron, ABC
Cytron and Company
NSA – Sept. 24, 2013
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ROI – What Does It Mean?
Return on Investment – of course
Learning Objectives
Upon completion of this webinar you will be able to:
• Leverage Facebook, Twitter, LinkedIn and other social
media applications to expose your brand to a larger
audience.
• Connect with potential prospects and even close new
business.
• Determine the ROI related to social media.
But How Do You Measure ROI?
How much does it cost you to acquire a new client?
If you spent 10 minutes a day on LinkedIn reaching
out, connecting and developing referral sources from
current clients, how much time in terms of “billable
time” would you have to spend to get a new client?
LinkedIn
Hourly rate = $175
10 minutes of your time = $17.50
Lunch with a Client to Develop Referrals
Hourly rate = $175
1.5 hours of your time = $262.60 (plus the
cost of lunch)
Measuring Social Media
“Every single comment, photo, video or
post takes a few seconds for a user to
digest. It is estimated that the average
‘like’ on Facebook takes seven seconds
per person while close friends of this
person will take an average of five
seconds to digest that ‘like.’” – Michael
Cohn, CompuKol Communications LLC
Five Lessons to Learn
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
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Who’s On?
•Women, Hispanics and young people were the most
active on social networking as of May 2013.
•18-29 age range is the highest.
•30-49 – second
•50-64 – third
•65+ - fourth
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LinkedIn
•70% of LinkedIn users (~225 million users) are
recognized as decision makers.
•Every Fortune 500 company has a profile on
LinkedIn.
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For Business?
LAW
Science
Art
ME
YOU
Web
Writing
$
Dentist
LinkedIn
Sell
ROI
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Facebook
www.facebook.com
• Social utility that helps people communicate more
efficiently with their friends, family and coworkers
• 500+ million users
• Other applications can feed into your Facebook profile
and vice versa
• Your events can be posted and marketed using
Facebook
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Fan Pages on Facebook
• Ideal for small- and medium-size firms.
• Facebook Fan pages allow you to officially represent
your business on Facebook:
– Unified place to hold conversations about you.
– Get updates on what you’re doing
– Interact with you
– connect with other people who are “just like them”
and love your services/products.
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Twitter
www.twitter.com
• Fastest growing age bracket is 55-64 years old.
• 100 million+ users.
• Real time short messaging service
• You follow people - other people follow you
• Send short quick messages of no more than 140
characters
• Help answer questions for others
• Use to share information
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Google+
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What’s Up With Google+?
•343 million active users.
•2nd most popular social media platform next to
Facebook
•Connect – professional, like LinkedIn
•Search engines!
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Recommended Social Media (in order)
1.
2.
3.
4.
5.
LinkedIn
Google+
Twitter
Facebook
Tumblr
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Strategy
Strategy
Strategy
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Example of Social Media at Work
Presidential Inauguration
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Your Business Purpose
•What are three business goals you want to
achieve?
•How much time will you invest using social
media to achieve them?
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Objectives
1. Be the first accounting technology-focused blog –
pioneer and leader in technology trends (Jan 06)
2. Further peel away the old, stodgy accounting industry
image.
3. Achieve improved Web site optimization and Web
presence through rich content.
4. New way of appealing to the youth culture, future
CPAs of our firm.
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Objectives
5. Create new tool for communicating more often, more
easily and interactively.
6. Earn media opportunities .
7. Elevate the maven status of Greg Price.
8. Create a vehicle that makes use of Microsoft
partnering to help raise our prominence as a Gold
Certified Partner.
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Case Study: SpeedTax
• Goal 1: Educate and inform the accounting community
on sales tax compliance and reporting issues.
• Goal 2: Promote thought leadership in sectors touching
SpeedTax customers.
• Goal 3: Build brand awareness.
• Goal 4: Position the company as a reliable, trusted
source.
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Components of Program
•Interactive Web site – speedtax.com
•Facebook
•Twitter
•Blog
•Individual team members on LinkedIn
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SpeedTax Blog – “The New Equalizer”
• SEO
• Landing page for Twitter, Facebook
• Increase speedtax.com traffic
• Encourage repeat visits
• Showcase industry experts
• Media-centric – “tax” and SEO
• Create reason to reach out to prospects – new blog
entry
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Results – Goal 1
Goal 1: To educate and inform the accounting community
on sales tax compliance and reporting issues.
Results:
• Attracting second and third-tier accounting firms as
business partners and recommenders.
• Just starting to attract Big 4.
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Results – Goal 2
Goal 2: Promote thought leadership in sectors touching
SpeedTax customers.
Results:
• Continuous expansion with key influencers: businesses,
accountants, media, analysts.
• Fortune 500 companies searching by SpeedTax instead
of other key terms (Leadlander).
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Results – Goal 3
Goal 3: Build brand awareness.
Results:
•Direct feedback of SpeedTax as being “accountingcentric.”
•SpeedTax is a trusted source for sales tax information.
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Results – Goal 3
Goal 3: Build brand awareness.
Results:
•Growing list of business partners – from both sides.
•Consistently delivering a very concise message to each
audience, including VARs: better technology, affordable,
easy to use.
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Results – Goal 4
Goal 4: Position the company as a reliable, trusted
source.
Results:
• Accounting orgs actively published articles by SpeedTax
in their magazines/journals.
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Review Questions for Self Study CPE:
Now’s the time to answer the review questions 1-3.
Click here:
http://www.proprofs.com/quiz-school/story.php?title=NTc1ODcw
*Once all questions are complete submit and close quiz
window.
Thank You!
Scott H. Cytron, ABC
Cytron and Company
972-743-4671
[email protected]
Link with Scott on LinkedIn at www.linkedin.com
Join Scott on Facebook
Follow Scott on Twitter www.twitter.com/scytron
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http://webinars.nsacct.org/postevent.php?id=11366
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You must complete this survey and the quiz or final exam (for
the recorded version) to qualify to receive NASBA marketing
CPE credit.
National Society of Accountants
1010 North Fairfax Street
Alexandria, VA 22314-1574
Phone: (800) 966-6679
[email protected]