Using Social Media To Grow Your Practice

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Using Social Media To Grow Your Practice

Rod Burkert, CPA/ABV, CVA


Brief bio

u  I am the founder of Burkert Valuation Advisors. My assignments focus on income/gift/estate tax matters and business transition planning – both for small private companies.

u  I am the co-founder of Practice Builder Academy,

a 12-month mentoring program that teaches BVFLS professionals strategies to build their practices and re-design their lives.

u  I’ve leveraged 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] [email protected] Cell: 215-360-6100 Skype: rodburkert


Today, this is how we roll …


Social Media – the question you’re asking

DOES IT

WORK?


Times, they are a changin’


Setting the stage – How I use social media

u My goal is to build an audience of clients/prospects …

u Convert them to a community (tribe) …

u And drive awareness to my website for products and services I offer or plan to offer.

v  1 to 2+ hours per day v  Because it replaces much of my face-to-face marketing efforts


Learning objectives

Identify buyers’ selection process for experts like us 1

Present the case for using social media in your firm

Apply #1 and #2 to your online marketing efforts

Best social media platforms for BVFLS professionals 4

2

3

Put your best foot forward on LinkedIn 5


Let’s get started …


“Bringing in new clients”

Ranked as the top practice issue in the AICPA’s 2013 FVS Membership Top Issues Survey

u 87% of respondents thought bringing in new clients was somewhat or extremely important

u 63% said extremely important


How is your client message playing?


HOW DO BUYERS FIND AND SELECT EXPERTS LIKE US


This may be my best recommendation today

u A free ebook (133 pages)

u HingeMarketing.com


What buyers of professional services value

Source: The Visible Expert, p. 21, Figure 3.1


Why buyers seek out experts



How buyers find experts



How buyers search online for experts



How buyers evaluate experts



How the screened expert is selected



SOCIAL MEDIA AND YOUR FIRM


Social media is nothing new Image credit: Huffington Post


But world of clients/prospects is changing

60 Million Boomers

32 Million Millennials

49 Million Gen Xers

These cohorts are much more likely to find and consume information online Source of figures: Hinge Marke3ng

In the Workforce Now


And the survey says …

77% of all firms “Actively maintain a website”

u  Range by firm size: 61% to 96% u  71% in 2012 u  66% in 2010

Source: 2014 PCPS/TSCPA National Map Survey All firms = 1,750 firms


And the survey says …

[Only] 14% of all firms “Publish a blog”

u  Range by firm size: 9% to 39% u  8% in 2012 u  4% in 2010

Source: 2014 PCPS/TSCPA National Map Survey All firms = 1,750 firms


The case for social media In the big picture goal of firm profits and profitability, people do business with people u  They know u  They like u  They trust u  They remember (and can find!)

Social media can help with all of these


Why do it?

Social media allows your messaging to feel like good old 1:1 relationship marketing

u  You provide evidence of your credibility u  While sharing glimpses of your personality u  To multiple prospects u  Simultaneously u  In less time u  At less cost


Where is the value proposition?

Setting yourself apart to gain a competitive advantage requires: u Finding new ways to showcase your skills, knowledge,

education, experience, and training

u Engaging others (who have influence with your clients/referral sources) in meaningful interactions


And what’s that worth?

Social Media Social Network

Intellectual Capital

Value Creation

ex p a n d s


SM PLATFORMS FOR BVFLS


How do you pick the right hangout?


Your social media strategy u What audience am I trying to reach and why?

u Where is that audience in the social world?

u Where is the audience that influences my audience?

u How can I be interesting, relevant, and useful enough so that those groups – my audience and their influencers – will want to help me spread my messages?

u What content do I need to create and how do I need to share it to fulfill those requirements of interest, relevance, and value?

u What level and type of interaction is required to do that?

What kinds of people are buying my services and how do I reach them?


Major social media platforms for BVFLS


Why I like Twitter

I use Twitter primarily to find relevant content that I can share elsewhere …


And sometimes I get this …


Why I like Google+

Google uses data gathered in Google+ to improve search rankings and findability of information

u  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 – called Circles

u  You can group people by whether they are an estate/gift attorney, a litigation attorney, a CFO, or a personal connection … and interact accordingly.


Why I like YouTube


You need a killer profile

u Your prospects are using search engines to find you …

u LinkedIn is one of the top ranked sites in Google, so your profile will be one of the top search results.

u This one point alone essentially makes your LinkedIn profile almost/just as important as your website!


Headshot

Who are you more likely to connect/do business with?

This? Or this? A profile page with a picture is 7x more likely to be viewed than a page without one!


Your name

This line should only have your name Avoid adding any additional titles or credentials

A trick if you want to rise to the top of search results


Headline … what not to do


Headline … what to do

Your headline should be catchy … in 120 characters Use keywords you want to be found for !

Include information about how you can help potential connections, rather than simply stating your position


Contact information

Provide all of your contact information

u Email u Address u Phone u Social media u Websites


Summary

Make sure your summary speaks to your ideal prospect!

u Your summary shouldn’t be about you … it should be about how you can help your prospects

u Your prospects should be able to read your profile and feel the mesh between what you offer and what they need to solve their problems

u The more you can speak with words that appeal and relate to your prospects, the better your results will be


Where do keywords show up?


Experience

Not your average resume


Where do key words show up?


Include CTAs

Your profile needs a Call To Action to help move prospects closer to that all-important step of contacting you. What actions might you ask people to make?

u  Download a document u  Watch a video u  Go to your website u  Listen to a podcast u  Request a fee quote u  Read your blog


Example CTAs

Like here

And here


Endorsements

Controversial … but keep in mind that endorsements are: u Important to LinkedIn u Affect your search ranking on LinkedIn u Akin to “Yelping” of people u Social proof of how good someone is at something u Could be the reason a prospect picks you over someone else who

has fewer endorsements for the skill they are looking for

Get endorsed for the skills you have and want to showcase (skills should relate to keywords)


Getting recommendations

Aim for 5-10 Do whatever you need to get them (you know, like asking!) u And don’t be shy about asking how/what you want to be

recommended for

Recommendations are key for building credibility u They distinguish you from your competition on LinkedIn


Giving recommendations

Only recommend people you’ve personally worked with u  Unsolicited recommendations are always an unexpected pleasure

When writing a recommendation u  What problem were you trying to solve? u  Describe the positive experience you had u  Describe the results you got u  I recommend [name] for anyone looking for _____


Types of connections

u 1st Degree – People you are connected with

u 2nd Degree – Contacts of your 1st Degree connections (friends of friends)

u 3rd Degree – Contacts of your 2nd Degree connections (friends of friends’ friends)

u Group Connections – People who join and share at least one group with you


Who to connect with

Only connect with people you know/have met

No matter how much you want to be business acquaintances with someone, and no matter how much it would benefit you if you knew them, the fact is you don’t – so act accordingly

u  How to connect with people you don’t know – groups you have in common

u  Can also run a group, which gives you a reason to connect with every new member that requests to join


Change how you connect … from this


Change how you connect … to this

Hi xxx. I just saw you pop up on LinkedIn, and I'd like to add you to my network of professional contacts. Hope you'll accept.

Hi xxx. I am the owner of the EBA LinkedIn group. I noticed that we are not connected, and I'd like to add you to my network of professional contacts. Hope you'll accept. Hi xxx. Just noticed that you were viewing my LinkedIn profile. Hope you'll accept this invitation to connect. And let me know if there is anything that I can do to help you.


And when people connect with you

THANK THEM!

And ask them why they connected Or if there’s any thing you can do to help them Hi xxx. Thanks for reaching out and connecting … much appreciated! Is there a specific reason you connected? Is there any thing I can do to help you?

Rod Burkert, Burkert Valuation Advisors


How many connections?

Strive to reach 501 LI stops counting after that

People like to connect with people who are connected

Source: Wayne Breitbarth (see Suggested Reading)


Active page = Effective page

u Rule of thumb is to post at least 1x per day, but post as many status updates as your content supports

u Share information that’s helpful, educational, and sometimes entertaining (kind of obvious)

u Keep your updates generally upbeat and relevant to your field of expertise (also obvious)


Most in-demand content is industry insights


Research shows …

u Status updates with links result in 45% higher engagement than updates without links

u LinkedIn sends nearly 4x more people to your website than Twitter and Facebook

u Avoid posting on late afternoons, evenings, and weekends (think time zones and work hours)


Groups, in general

u LinkedIn groups are informal communities formed around industries, professions, themes, niche topics, etc.

u Because any LinkedIn member can create one, there are now well over a million groups

u You can join up to 50 groups

u You don't need to participate every day, but you should be fairly regular – otherwise, why are you joining?


Finding groups to join

LinkedIn is full of groups for every profession and skill set

Change the search tab at the top of LinkedIn to "Groups" and enter your search term

Refine results using the check boxes in the left column

Join groups your connections have joined


Keys to building your own group

1.  Pick a narrow niche 2.  Write a group description that includes the name of your target

market and your specialty category 3.  Make it a closed group … require member pre-approval 4.  Create rules and closely manage/monitor discussions 5.  Promote group to build membership 6.  Position yourself as the leader


Benefits of a premium account

u Who’s viewed your profile u Get introduced to inside sources at companies through your

connections u Lets anyone on LinkedIn message you for free u Advanced search capabilities/filters u See more profiles when you search u Save searches and get notified when new profiles fit your

criteria u Get a list of people in your network who can provide a

reference for someone you are interested in


SOCIAL MEDIA ETIQUETTE


You will get all you want in life if you help enough people get what they want.

- Zig Ziglar

Golden rule of selling


The online community

Embraces: -‐  Usefulness -‐  AuthenPcity -‐  Altruism -‐  Social proof

Dislikes: -‐  AdverPsing -‐  PR Spin -‐  Self-‐PromoPon

(You don’t get it)


Best summaries I’ve seen


TAKEAWAYS FOR YOUR PRACTICE


9 To Do’s if I were starting SM today …

1  Maintain a database of your contacts

2  Start a blog (or newsletter)

3  Set up an email list



4  Build outposts on 1-2 social networks – tops

5  Create an integrated content strategy

6  Build a community (tribe) of people in your niche



7  Make engagement and betterment the goals of that tribe

8  Track 3-5 simple metrics to measure your results

9  Set numeric goals and monitor


In summary

u Traditional networking through trade shows, conferences, and other events is still important.

u But the rise of SM has created new ways to connect with

clients/prospects/referral sources in our industry.

u Networking via SM can achieve many of the same business goals as networking in person – but without schedule, geography, or travel restrictions.


RESOURCES


Books


Best book I’ve found for LinkedIn

u Profile tips

u How to make money

u Now in 2nd edition

u Kindle version < $8


Blogs

www.socialmediaexaminer.com/top-10-social-media-blogs-2014-winners/


Best blogs I’ve found for LinkedIn

u LinkedIn Official Blog

u Wayne Breitbarth’s Blog

Thank you! Rod Burkert, CPA/ABV, CVA

215.360.6100

[email protected] www.practicebuilderacademy.com

[email protected] www.burkertvaluation.com

Using Social Media To Grow Your Practice

Social Media

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