On Thursday, June 25, 2009, a pop icon died. News of Michael Jackson’s death spread like wildfire. And the primary means of communication was social media. Yahoo News set a record with 16.4 million unique visitors that day; compare that to the 15.1 million visitors Yahoo logged on Election Day. While it is estimated that the news was most shared on Facebook, Twitter recorded 30% of their total volume that day was devoted to the king of pop.
What does that mean to you? Social media is the fastest way to get your message out and processed by your network of colleagues, clients, etc. Your firm should be connected to many different target groups: clients, prospects, referral sources…but one very important group that is probably often overlooked in building your social networks is your local media and trade publications for both accounting and your niche target markets.
A firm might argue that a lot of their clients aren’t using social media that much; but reporters are. Reporters are always on the prowl for a good story. And by connecting with these VIP’s, you are likely to obtain significantly more media attention for your firm than through traditional forms of media like press releases. How and why? First, you are (hopefully) connecting with them on a regular basis and building rapport. They know who you are and trust what you say. And second, when you tweet about an important issue that your firm can address, these reporters will hunt you down for the story.
Lastly, how do you acquire a complete list of all the media sources that you should be connected to? Go to your local library and check out the Bacon’s Media Directory. Gather contact information for all forms of media (tv news, newspapers, trade journals etc.) and reach out to them. Send them an invitation to connect with LinkedIn; ask them to follow you on Twitter. BECOME THEIR FRIENDS. Be authentic, don’t oversell, connect regularly and monitor 24/7.
So beat it…it’s time to get tweeting!
Sunday, June 28, 2009
Wednesday, June 24, 2009
It's Delicious!
If you haven’t heard of the social bookmarking site, Delicious, you may be living in a cave. But seriously, the social media revolution is here and Delicious is becoming as important as Facebook, LinkedIn and Twitter. In fact, in a study of almost 900 marketers (see Social Media Marketing Industry Report), it ranked 6th as most used/important. What is it, how does it work, and why should you be using it?
Delicious is a social bookmarking service that allows users to tag, save, manage and share web pages from a centralized source. With emphasis on the power of community (Web 2.0 Principle: Leveraging Customer Self-Service to Reach a Broader Audience), Delicious improves how people discover, remember and share on the Internet.
When you sign up as a Delicious user and start bookmarking your favorite sites (including your firm’s site and blog), you get to share your bookmarks publicly so your friends, colleagues and others (clients and prospects?) can view them for reference, amusement (not your firm’s site but maybe your blog!) and/or collaboration. The cool part is that you have access to everyone else’s bookmarks too; and everyone on Delicious chooses to save their bookmarks for a reason. You can see if two people have chosen to remember a link or whether it was useful enough for a thousand people to remember. It’s like a popularity contest for websites with a beneficial outcome, especially if your firm’s site or blog ranks at the top.
The bottom line is this; Delicious search results are ranked by relevance, which takes into account bookmark titles, notes, tags and how many other users have also bookmarked the site. Search engines like Google work the same way; the more places you show up and the more people who are looking at your site (social networks and blogs included), searching for your site and bookmarking your site and linking to your site (including outbound links from your site), the higher up you get (it’s a popularity contest now; it’s not just based on keywords and metadata anymore).
Here’s my challenge to you: in the comments section below, post your web address. I will bookmark your site in Delicious using the following tags (*****,cpa, accounting, cpafirm, accountingfirm, firmname, city, state). I encourage you to create your own account and bookmark every page of your website in the same way. To return the favor, I ask that you bookmark my website, www.savvysocialmediamarketing.com using the tags (SMM, socialmedia, socialnetworking, networking, consulting, cpa, accounting, marketing).
Social media marketing is a tasty treat for savvy marketers...it’s just plain Delicious.
Delicious is a social bookmarking service that allows users to tag, save, manage and share web pages from a centralized source. With emphasis on the power of community (Web 2.0 Principle: Leveraging Customer Self-Service to Reach a Broader Audience), Delicious improves how people discover, remember and share on the Internet.
When you sign up as a Delicious user and start bookmarking your favorite sites (including your firm’s site and blog), you get to share your bookmarks publicly so your friends, colleagues and others (clients and prospects?) can view them for reference, amusement (not your firm’s site but maybe your blog!) and/or collaboration. The cool part is that you have access to everyone else’s bookmarks too; and everyone on Delicious chooses to save their bookmarks for a reason. You can see if two people have chosen to remember a link or whether it was useful enough for a thousand people to remember. It’s like a popularity contest for websites with a beneficial outcome, especially if your firm’s site or blog ranks at the top.
The bottom line is this; Delicious search results are ranked by relevance, which takes into account bookmark titles, notes, tags and how many other users have also bookmarked the site. Search engines like Google work the same way; the more places you show up and the more people who are looking at your site (social networks and blogs included), searching for your site and bookmarking your site and linking to your site (including outbound links from your site), the higher up you get (it’s a popularity contest now; it’s not just based on keywords and metadata anymore).
Here’s my challenge to you: in the comments section below, post your web address. I will bookmark your site in Delicious using the following tags (*****,cpa, accounting, cpafirm, accountingfirm, firmname, city, state). I encourage you to create your own account and bookmark every page of your website in the same way. To return the favor, I ask that you bookmark my website, www.savvysocialmediamarketing.com using the tags (SMM, socialmedia, socialnetworking, networking, consulting, cpa, accounting, marketing).
Social media marketing is a tasty treat for savvy marketers...it’s just plain Delicious.
Wednesday, June 17, 2009
Guerrilla Marketing
So, #9 on the Strategies page of my website, www.SavvySocialMediaMarketing.com, says to get familiar with Guerrilla Marketing tactics. Social Media Marketing (SMM), in and of itself, is a Guerrilla Marketing tactic. But as I opened by book, "Guerrilla Marketing Attack", and saw first the date of publication (1989) and then read 100 Weapons for Attack, I realized how completely out of date this book is!
One of the primary principles of Web 2.0 and SMM is the idea of sharing. The Law of Reciprocity. I know there's a chance that your competitor is reading this blog too. But for the sake of making us all better (because truly, there is enough business out there for everyone), I would love some feedback. I would LOVE to update this list of Guerrilla Weapons for Attack, using 21st century technology and anything else you deem as a valuable marketing tactic (especially if it's low cost, because lets face it, nobody has a decent marketing budget these days).
PLEASE post comments with your suggestions. What a great experiment this would be if people would:
But back to the task at hand; I'm asking for your help in creating an updated list of Guerrilla Marketing tactics. If you haven't read the book, Google it or check it out on Wikipedia. Then post your comments and forward on to your friends.
THANKS!!!
One of the primary principles of Web 2.0 and SMM is the idea of sharing. The Law of Reciprocity. I know there's a chance that your competitor is reading this blog too. But for the sake of making us all better (because truly, there is enough business out there for everyone), I would love some feedback. I would LOVE to update this list of Guerrilla Weapons for Attack, using 21st century technology and anything else you deem as a valuable marketing tactic (especially if it's low cost, because lets face it, nobody has a decent marketing budget these days).
PLEASE post comments with your suggestions. What a great experiment this would be if people would:
- Actually read this blog
- Post a suggestion or two
- Forward to their marketing friends to do the same
But back to the task at hand; I'm asking for your help in creating an updated list of Guerrilla Marketing tactics. If you haven't read the book, Google it or check it out on Wikipedia. Then post your comments and forward on to your friends.
THANKS!!!
Monday, June 15, 2009
Strategic Growth Planning in a New Participatory Culture
How would you like to experience the same kind of explosive growth as Google, Wikipedia, Facebook or YouTube? Those are exceptional cases, but they are household names. And you could be too.
At a time when every dollar spent counts, it’s more important than ever to use your marketing dollars wisely. Savvy marketers are turning their attention to the web as a cost effective and valuable tool to communicate with their clients and cultivate new prospects. Social Media Marketing is the hottest trend, which I will address in a series of future articles.
Social Networking sites and web applications such as Google are considered part of the Web 2.0 revolution. What is Web 2.0? What can we learn from this new generation of internet applications? And why would you apply Web 2.0 principles to your business growth strategy? The term “Web 2.0” has become just another marketing buzzword with no real understanding of what it means or how its principles and applications can be applied to your marketing plan. Let’s explore how these principles can increase your business without straining your budget.
First, what is Web 2.0? According to Wikipedia, "Web 2.0 refers to a perceived second generation of web development and design that facilitates communication, secure information sharing, interoperability, and collaboration on the World Wide Web. Web 2.0 concepts have led to the development and evolution of web-based communities, hosted services, and applications such as social-networking sites, video-sharing sites, wikis, blogs, and folksonomies." But perhaps the most concise and applicable definition comes from Bart Decrem, a founder and former CEO of Flock, who calls Web 2.0 the "participatory Web" and regards the Web-as-information-source as Web 1.0.
The same concepts and principles that make this new generation of web applications so successful can easily be translated and applied to your business model. Here is my Top 5 list of Web 2.0 principles that you can incorporate into your business growth strategy without breaking the bank.
1. Innovation in Assembly
Unless you are a boutique or niche-specific firm, you offer the same accounting services as your competitors down the street. To differentiate yourself, you must innovate the way you package your service, not the service itself. There’s a new “marketing mix” to consider now too, which is more applicable to professional service firms; instead of the 4 P’s (product, place, price and promotion), consider the 4 C’s (consumer, cost, convenience and communication) and think outside the box.
2. Leverage Customer Self-Service to Reach a Broader Audience
Every client is an opportunity for a referral. Take advantage of the viral aspect of social networking to effectively trigger a cascade of interest from a broader audience to fill your pipeline. Your clients are doing the work for you. The key to success is tracking the dialogue and following up with prospects. And if you have clients out there who are regularly raving about your service, be sure to thank them! Warning: to really reap the benefits of social media marketing you should plan to spend a minimum of 5 hours per week focusing on these efforts. The most experienced and savvy social media marketers are spending 20 hours per week with proven results. The good news (at least for those in charge of the marketing budget) is that Social Media Marketing is almost always free.
3. Rich User Experience
Don’t just sell a tax return, sell an experience. Engage your customers in regular dialogue and keep them coming back for more. A rich user experience begins with providing five star service and is only limited by your imagination.
4. Users as Co-Developers
When was the last time you performed a client loyalty survey? There are two very important questions you should ask your clients on a regular basis: What do you enjoy about working with our firm and how can we improve your experience? Give your customers a voice and a role in shaping what and how you build the 4 C’s into your business model.
5. Eternal Beta
Be creative and don’t be afraid to try new things. The business landscape is constantly changing and what worked a few years ago may not cut it today. Progressive firms are never stagnate. Don’t be like the Post Shredded Wheat guy who put the “no” in innovation.
Finally, remember the Law of Reciprocity. The most successful companies all give up something considered critical (and maybe expensive) in order to get something valuable for free. Or simply put, the more you give, the more you get.
But don’t get carried away, I am not suggesting that you give away or discount your services; a savvy marketer can incorporate these principles into your growth strategy and position your firm as a market leader and not just another commodity (unless your strategy, like H&R Block, is to be the low-price leader). But don’t be afraid to share valuable information with your clients or involve them in improving your business model. Just as Web 2.0 is the participatory web, in today’s dynamic environment, remember that communicating with your clients is a dialogue, not a monologue.
At a time when every dollar spent counts, it’s more important than ever to use your marketing dollars wisely. Savvy marketers are turning their attention to the web as a cost effective and valuable tool to communicate with their clients and cultivate new prospects. Social Media Marketing is the hottest trend, which I will address in a series of future articles.
Social Networking sites and web applications such as Google are considered part of the Web 2.0 revolution. What is Web 2.0? What can we learn from this new generation of internet applications? And why would you apply Web 2.0 principles to your business growth strategy? The term “Web 2.0” has become just another marketing buzzword with no real understanding of what it means or how its principles and applications can be applied to your marketing plan. Let’s explore how these principles can increase your business without straining your budget.
First, what is Web 2.0? According to Wikipedia, "Web 2.0 refers to a perceived second generation of web development and design that facilitates communication, secure information sharing, interoperability, and collaboration on the World Wide Web. Web 2.0 concepts have led to the development and evolution of web-based communities, hosted services, and applications such as social-networking sites, video-sharing sites, wikis, blogs, and folksonomies." But perhaps the most concise and applicable definition comes from Bart Decrem, a founder and former CEO of Flock, who calls Web 2.0 the "participatory Web" and regards the Web-as-information-source as Web 1.0.
The same concepts and principles that make this new generation of web applications so successful can easily be translated and applied to your business model. Here is my Top 5 list of Web 2.0 principles that you can incorporate into your business growth strategy without breaking the bank.
1. Innovation in Assembly
Unless you are a boutique or niche-specific firm, you offer the same accounting services as your competitors down the street. To differentiate yourself, you must innovate the way you package your service, not the service itself. There’s a new “marketing mix” to consider now too, which is more applicable to professional service firms; instead of the 4 P’s (product, place, price and promotion), consider the 4 C’s (consumer, cost, convenience and communication) and think outside the box.
2. Leverage Customer Self-Service to Reach a Broader Audience
Every client is an opportunity for a referral. Take advantage of the viral aspect of social networking to effectively trigger a cascade of interest from a broader audience to fill your pipeline. Your clients are doing the work for you. The key to success is tracking the dialogue and following up with prospects. And if you have clients out there who are regularly raving about your service, be sure to thank them! Warning: to really reap the benefits of social media marketing you should plan to spend a minimum of 5 hours per week focusing on these efforts. The most experienced and savvy social media marketers are spending 20 hours per week with proven results. The good news (at least for those in charge of the marketing budget) is that Social Media Marketing is almost always free.
3. Rich User Experience
Don’t just sell a tax return, sell an experience. Engage your customers in regular dialogue and keep them coming back for more. A rich user experience begins with providing five star service and is only limited by your imagination.
4. Users as Co-Developers
When was the last time you performed a client loyalty survey? There are two very important questions you should ask your clients on a regular basis: What do you enjoy about working with our firm and how can we improve your experience? Give your customers a voice and a role in shaping what and how you build the 4 C’s into your business model.
5. Eternal Beta
Be creative and don’t be afraid to try new things. The business landscape is constantly changing and what worked a few years ago may not cut it today. Progressive firms are never stagnate. Don’t be like the Post Shredded Wheat guy who put the “no” in innovation.
Finally, remember the Law of Reciprocity. The most successful companies all give up something considered critical (and maybe expensive) in order to get something valuable for free. Or simply put, the more you give, the more you get.
But don’t get carried away, I am not suggesting that you give away or discount your services; a savvy marketer can incorporate these principles into your growth strategy and position your firm as a market leader and not just another commodity (unless your strategy, like H&R Block, is to be the low-price leader). But don’t be afraid to share valuable information with your clients or involve them in improving your business model. Just as Web 2.0 is the participatory web, in today’s dynamic environment, remember that communicating with your clients is a dialogue, not a monologue.
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