using social media to expand your bvfls practice
TRANSCRIPT
September 19, 2012
Using Social Media to Expand Your BVFLS Practice
Rod BurkertCPA/ABV, CVA
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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 throughout the United States and Canada with my wife and two dogs.
Email: [email protected]: 215-360-6100Skype: rodburkert
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Today, this is how I (we) roll …
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How did I get there?
Streamlining my engagement letters
Decluttering my reports
Requiring payments via wire and PayPal
Specific project consulting services
Little/no litigation work
Lotsa investment partnership work
Exploiting 20 years of client contacts
Using social media for marketing
Rein
ventin
g M
y Practice
Ad
min
Mkt
gW
ork
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How do you get there?
Note … if it was easy, everyone would be doing it.
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How’s your message playing?
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The Holy Grail of Marketing
Can just engage
Or
Can just self-publish
But engaging without publishing is passive marketing
And
Publishing without engaging is missing opportunities
Source: Michelle Golden, Golden Practices
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Who’s using any kind of social media?
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The Major Media of Social Media
• Facebook (friends)
• Twitter (fans)
• Google+ (circles)
• Blogging
• LinkedIn (connections)
Leapfrog potential
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How do you pick the right hangout?
It depends on …Your comfort level
with each platformAmount of time you
have to investWhere your desired
contacts are found
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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.
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If You Don’t Get Anything Else Out of This Social Media Segment
Item #1
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PLEASE Include a Profile Picture
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If You Don’t Get Anything Else Out of This Social Media Segment
Item #2
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Change Your LinkedIn Headline … From This
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Change Your LinkedIn Headline … To This
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If You Don’t Get Anything Else Out of This Social Media Segment
Item #3
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Change How You Connect … From This
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Change How You Connect … To This
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If You Don’t Get Anything Else Out of This Social Media Segment
Item #4
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Social Media Is NOT All About You
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It’s a Place to Say/Ask Something
Put forth an idea or an opinion.
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It’s a Place to Share Something
A tip … a resource … an article.
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It’s a Place to Promote Something
Like the great work someone did for you.
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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
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Connecting is the New Black
It’s not what you know.It’s not who you know.
It’s who knows you.
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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.
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And By Using Social Media You Can
Achieve far greater reach
With more dramatic results
In less time
At less cost
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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
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If You Are Using Social MediaTo Expand Your BVFLS Practice
What’s your experience been?
What would you say to the people who aren’t trying it?
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If You Are NOT Using Social MediaTo Expand Your BVFLS Practice
Why not?
What are your hurdles?
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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
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What Is Worth of Social Media?
Social Media Social Network
Intellectual Capital
Value Creation
e x p a n d s
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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
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In Big Picture Goal of Increasing Firm Profits and Profitability
People do business with peopleThey knowThey likeThey trustThey remember (and can find!)
Social media can help with all of these
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Social Media Enables Connections
Social Media
Clients(and potential clients)
Fellow Professionals
Referral Sources(and potential referral sources)
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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
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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
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The Online Community
Embraces:
- Usefulness- Authenticity- Altruism- Validation by 3rd parties
Dislikes:
- Advertising- PR Spin- Self-Promotion
(The firm doesn’t get it)
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Best Summaries I’ve Seen
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What’s the One Question You’dLike to Ask to Get Started On
Google+
Blogging
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Great Books to Get You StartedOr Keep You Going
Social Media Strategies for Professionals and Their Firms: Guide to Establishing Credibility and Accelerating Relationships
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Great Books to Get You StartedOr Keep You Going
Google+ for Business: How Google’s Social Network Changes Everything
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Great Books to Get You StartedOr Keep You Going
What the Plus! Google+ for the Rest of Us
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A Gentle Plug
The Value Examiner, published by the National Association of Certified Valuation Analysts
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Thanks for your time and attention