I was interviewed recently to provide my views as regards social media policies that accounting firms might wish to institute in-house. I’ve summarised the key points I made and spread them over a couple of blog posts. Part one below. Part two later today.

There are two very different issues here.

The first is the extent to which the firm wishes someone to tweet or post other social media updates on its behalf. That’s a marketing related question – and one that most firms get completely wrong. Without side-tracking, let me just reiterate a point I have made many times on this blog.  Social Media is not something most firms can use effectively for broadcasting and promotional purposes – whatever the social media and marketing junkies tell you. Social Media only works when you recognise it relies on conversation and engagement.

The second and main issue I will address in these two blogs concerns the limitations and constraints that partners may wish to place on members of staff or partners who use social media and who are identifiable as being members of the firm.

I’m not a fan of including a standard note in online profiles that “All comments are my own”. Of course they are. Accountants are not in the same position as top independent journalists and broadcasters. I understand why THEY need to make clear that spontaneous status updates and tweets (personal views) are distinguishable from those that have been vetted and approved to appear in print/on air.

I can see an argument for treating social media training in the same way as anti-money laundering training. The Money Laundering regulations (MLR) impose obligations on accountants to operate specific procedures. It’s no good simply specifying these in a handbook, document or page on the intranet. Everyone has to receive training to ensure they understand their obligations.

I would suggest that the same is true re a firm’s social media policies. Indeed, regular updates are also required and these should be interactive and participative. They also need to avoid patronising anyone (That means talking down to them!)

You need to address privacy issues and consider how important it is for everyone’s profiles to use the same description of the firm, their service areas and expertise. Who is to be responsible for establishing the firm’s business profile on Linkedin and, if considered worthwhile, on facebook?

There are employment law issues to consider too – in terms of what it is reasonable behaviour by employers, to what extent can new restrictions be imposed and what recourse employers can pursue if they feel they’ve been harmed by inappropriate social media activity. Also you need to consider how detailed you want to be in contracts of employment and internal procedure manuals. I tend to favour general guidelines and trusting staff/partners to apply common sense.

Will anyone in the firm take on responsibility for monitoring the linkedin accounts, facebook profiles and twitter accounts (as well as any other social media platforms) to ensure that everyone has included on approved ‘standard’ references to the firm? I would doubt that any firm has an automatic right to limit or constrain what staff/partners can include in their profiles. And i doubt that many firms are (yet) considering the implications either.

NB: On 23rd February 2012 Mark is speaking at two masterclasses in London addressing (respectively) The ‘Why bother?’ side of social media and The ‘How to?’ side of social media. The main focus will be Linkedin and twitter. Full details here.

The following six ‘client fundamentals’ are highlighted in Robert Craven’s book: Grow your service firm. I’ve added my interpretation of each of them in square brackets.

1 – Don’t waste my time [Don't keep me waiting at the start of scheduled meetings. Also when explaining issues, in writing or face to face. Doctors manage well in this regard despite dealing with life and death issues and the risk of being sued for malpractice]

2 – Understand who I am – the client who pays your fees and thus your wages [Don't take clients for granted, respond promptly when they communicate, keep them informed of progress (and delays) and treat them with due respect]

3 – Make it easy for me to buy and to get service [Among my pet peeves are accountants' websites with no contact name on them. People buy buy people. Who should they ask for when they approach your firm - by phone or email? Ensure you have a straightforward client 'take-on' process with no delays. This includes clarity over your fees and terms of business. Can you produce these easily and address all new client issues promptly?]

4 – Make sure your service delights me or at least “does what it says on the tin” [Are you 'Accountants and business advisers'? If so you should be advising on business issues as a matter of course and without being asked. Unless you are super-human you cannot expect to be able to advise on every single matter that a client may raise. But you should know where you will go if a client asks for (or you perceive they need) advice on tax or other issues that are a little out of the ordinary.

5 - Customise your product service to my specific needs [Tailor your standard letters to suit specific clients. Use appropriate terminology and adapt your style and language as required]

6 – Don’t treat me like a moron [Clients are not trained to understand accounts and tax returns. They may well have built a fair understanding of the numbers around their business or their tax affairs. Never assume to the contrary.]

The book is aimed at a wide variety of service providers – including accountants. Do you agree that these 6 client fundamentals should be taken on board by ambitious accountants? Are there others you would add to the list?

I have mentioned Elaine Clark who runs CheapAccounting.co.uk on my blog previously. Like me Elaine is very active on twitter. Like me she is a big advocate of twitter.

The main difference between us is that I make clear that twitter is no panacea and that you need to make time to understand it before you leap in. Elaine’s approach is to generate enthusiasm first before, effectively, confirming the caveats that I offer. We both do this in articles, blog posts and presentations. Indeed we spoke on the same platform for the ICAEW last year.

I was very impressed by a piece Elaine wrote recently for HSBC’s small business knowledge centre about how her business uses twitter.  You can read the whole thing on the HSBC site.

In her article Elaine explains that since she started using Twitter her website visitors have increased by about 50% per month. And, crucially that this resulted in increased sales.

Here are a couple of other things she says in the article:

My tweets [140 character messages] vary, but I always avoid ‘broadcasting’ – using Twitter simply to say ‘buy me’. The key to using social media is engagement and social interaction. I very rarely post any pure sales messages. It’s about getting people to like and trust your brand.

Elaine’s tweets often include links to her blogs and free advice guides. More often they involve general discussion and chit chat with one or more of her twitter followers. She sees this as simply being an extension of her offline networking. I have also noticed that Elaine sometimes comments on events in the news to add to or prompt discussion.

Just like the rest of your marketing activity, social media requires careful planning. It requires patience and hard work, too – success won’t come overnight. Using Twitter should be fun, so enjoy it.

I think the full article is a great case study and contains some excellent advice. I would add, as I have said elsewhere, that I think twitter works for Elaine for two key reasons:

1 – She uses it effectively – as she explains above; and

2 – The CheapAccounting.co.uk website has a clear focused, targeted proposition. It’s inviting and easy to engage with the business. Were that not the case then the increased business driven through Elaine’s activity on twitter would be much lower – and might not even be measurable.

So here’s my key question: Does your website echo your online messages and, in so doing, convert visitors who have followed links from your twitter account (or other social media sites)? If not, it’s something else you might want to address whilst you build up your profile on twitter.

If you are an accountant with a story that would make a good twitter case study, please get in touch.

NB: On 23rd February 2012 Mark is speaking at two masterclasses in London addressing (respectively) The ‘Why bother?’ side of social media and The ‘How to?’ side of social media. The main focus will be Linkedin and twitter. Full details here.

When it comes to the provision of business advice, I’ve previously suggested that accountants serving business clients, fall into one of four categories:

1 – It’s a no-go area: The accountant’s business experience is limited and perhaps they don’t feel that confident with the idea of providing business advice.

2 – Personal experience: The accountant is willing and able to share their own experiences of business over the years, perhaps drawn in part from working with other clients. Those accountants who have worked in (non-accountancy) businesses will also have a different type of experience to draw on.

3 – What others say: The accountant offers advice based on what they have read in books, magazines and websites and possibly what they recall from their studies and from attending seminars and conferences. However, their level of interest in developing this area of skill is much lower than their desire to keep up to date with technical knowledge.

4 – A systemised approach: The accountant has bought into a programme that assists them in adopting a structured approach to the provision of business advice and either they actively promote the service to their clients or they shy away from doing so and quit the programme.

Some commentators have provided near constant pressure over many years to encourage accountants to adopt the systemised approach. Nevertheless I understand that less than 10% of accountants in the UK have bought into the idea.  The vast majority are evidently not convinced. Why is that I wonder?

Most accountants seem to prefer one or more of the first three approaches described above. Perhaps their clients do not seem to be demanding a more formalised approach (or maybe the accountant perceives that their clients are not willing to pay for it).

What do you think?

My answer to this question is always: “You don’t NEED to be on twitter but you might enjoy it”

This is the second in a series of blog posts that offer NO-HYPE answers to the question ‘Do I need to be on twitter?‘ The first one considered the position of someone who runs their own small practice.

For employed people in large firms of accoutants, lawyers, surveyors etc, a better question is why MIGHT you want to be on twitter?

And the answer then is in two parts: Personal and Professional. And you will also need to ensure that you comply with your firm’s social media strategy (if there is one).

Personal

I shared ten non-business reasons why plenty of accountants enjoy twitter on this recent blogpost. If you’re new to twitter then I strongly suggest that you start here and do not worry about generating any professional benefits until you have got used to it.

Professional

There’s a Catch-22 at play. For a while, hardly anyone will see what you tweet. And yet you will only build up (real) followers if you tweet interesting stuff. You can create the impression that you have lots of readers by chasing new followers, but if they’re not really interested they won’t be reading your tweets, so what’s the point?  The bottom line is that it takes time to build a relevant following on twitter. Even then, when you post a tweet the only people who will see it are:

• Some of those people who follow you on twitter.  Only some of them as few regular tweeters read all the tweets posted by the people they follow. And many of your followers will be people whose sole interest is whether you will follow them back to boost their follower numbers.
• Some of those who follow anyone who ReTweets your comment. Even if your tweets are copied to a wider audience, only some of them will be on twitter and see them.
• Anyone who is searching for tweets with keywords in them. This is how the media pick up on who said what about key news events etc.

Evidencing your interest in key clients

You may find that some of your clients are active on twitter. (‘Active’, not merely ‘registered’ on twitter). You can follow them and how they use twitter, in the same way as you might look out for references to them in the media. You might also be using ‘Google alerts’ to inform you about when they or their business appears on the web.

Such activity may inform your conversations with clients and can evidence that you are genuinely interested in them. You don’t have to engage with them on twitter to achieve this. You can just follow them and read their tweets. You can do this openly through a twitter account in your own name, or you can do it through an anonymous account.

In general the people posting tweets for the client are unlikely to be the individuals with whom you or your colleagues liaise.

What about to generate clients?

I am doubtful that you will generate new clients for your big firm through tweeting. You MAY, over time, build up a following if your tweets are of particular interest to key business owners who are active on twitter. The thing is though that I doubt that many decision makers in organisations that would be your firm’s target clients are active on twitter. If they are and you follow them, they MAY choose to follow you back. But will your activity on twitter really be a catalyst or a clincher for them becoming clients of your big firm? I doubt it. And do keep in mind the opportunity cost of your time spent on twitter too.

How about to raise the profile of the firm?

I would say that is a question for the partners and for the marketing team. Not for an individual.

What about my profile?

Yes, you could do that if you find that you enjoy using twitter. Over time you may be able to build up a following of fellow tweeters who share similar interests to you and with whom you could build profitable relationships. These can be continued offline or kept online. Who knows where they could lead?

I am following some great people on twitter who work for larger firms. They are stuck in the Catch-22 position I mentioned above. They have very few followers and yet unless they do something beyond posting a few tweets, that will not change. But as long as they are happy (and not embarrassing their colleagues) all is well.

Have I missed anything out do you think? Please add your comments/feedback below.

NB: On 23rd February 2012 Mark is speaking at two masterclasses in London addressing (respectively) The ‘Why bother?’ side of social media and The ‘How to?’ side of social media. Full details here.

There is now an almost daily stream of stories about the way that celebrities, politicians and big brands use twitter. Many of the media stories are ill-informed or naive. It is no wonder that so many non-tweeters then form a distorted view as to what twitter is all about.

There is a similarity with the media obsession with sex. Real life sex, especially as part of a loving relationship, is very different from what many celebrities seem to get upto.  In the same way, real life use of twitter is very different from the ideas promulgated by much of the media. I doubt if many of these stories tempt the non-twitter user to find out more about twitter. On the contrary, all of the well publicised tweets by politicians and celebrities probably act as a disincentive.

Hence my realisation that talking about twitter is like talking about sex.

When an avid tweeter tries to explain what is involved and who might want to get involved it can sound quite unpleasant, messy and confusing…. “Each tweeter reads and writes short email-like messages of less than 140 characters. Each tweet contain views and experiences which are seen by a subset of the people following the tweeter or searching for comments on a specific subject”.

This  is accurate but uninspiring. Just like when we try to explain sex to our children. Even if you manage to describe the mechanics of the act, it doesn’t exactly leave them with any notion about why so many people are so enthusiastic about it.

The analogy can be stretched further.

Most people are a little hesitant at first. They try it once or twice and are not sure whether or not they like it. They’re a bit bemused as to why so many people seem to rave about it.

Some people keep trying and after a while they find that it’s really quite fun and pleasurable. Others give up as they don’t enjoy it at all. That’s their choice, but the rest of us think they are probably missing out.

Beginners still tend to be clumsy until they’ve had a fair amount of feedback, often from tweeters with more experience.

Many people then get to the stage with tweeting where they can’t get enough of it. Frequent tweeters may even snigger at those poor saddos who only tweet occasionally.

You can read or look at all the stuff about sex you want, but if you’ve never had it, you simply have no idea what it’s really like.

It’s best not to tweet when you’re drunk as you can regret it the next morning. And you may get involved in topics you’d normally avoid when sober.

You need to vary your tweeting technique to avoid it getting repetitive and boring.

Sex is not about just getting something from others. You have to give. In fact, giving can be just as good as “getting,” right? Twitter is much the same.  If you just show up and start shouting about what you can do for people you might as well stay off Twitter. But if you go looking to give to others, there is more chance that you will accumulate followers and grow your network.

You know those desperate self publicists at the party who will sleep with just about anybody, but nobody ever wants to take them up on it? There are similar people on Twitter, too. You will recognise them by their tweets which will consist primarily of links to their own blog posts and websites. Most of us choose to stay away from the easy, cheap and sleazy.

Although we tend to think that our efforts will be appreciated, there’s no substitute for good positive feedback.

Don’t try to fake it. If you’re not really into a topic don’t bother pretending in order to please your followers. They can tell the difference.

The analogy isn’t perfect – and I’ve stretched it a little I know. Feel free to add your own thoughts as comments below.

NB: On 23rd February 2012 Mark is speaking at two masterclasses in London addressing (respectively) The ‘Why bother?’ side of social media and The ‘How to?’ side of social media. One of them will be right for you. Full details here.

What other factors do you think can determine your success?

The first blog post in this series explored ten non-business reasons for being on twitter.

Many of the hundreds of accountants I follow on twitter clearly enjoy the non-business side of it. Indeed, I’m sure that many of the accountants who find twitter useful from a business perspective first became familiar with it by virtue of the non-business uses. And that’s a key lesson. If you are thinking of twitter as a quick-fix marketing solution, take my advice and don’t bother. You will waste time and effort that could have been better spent more productively elsewhere.

So to answer the question, my simple answer is ‘NO’. Contrary to all the social media hype, you do not NEED to be on twitter. It MIGHT be beneficial though IF you:

• Have EXISTING clients who are active on twitter; – and, even better if they will advocate you on twitter to their followers
• Have a clear niche that is distinct from all of the other sole practitioners and smaller firms;
• Are willing to engage with people on twitter (there’s little point in simply posting promotional messages)
• Can RESIST the temptation to try to gain thousands of ‘followers’ – this is time consuming displacement activity, it doesn’t generate business.
• Can decide on a realistic strategy to build business and referrals over time through your activity on twitter
• Are willing to learn WHAT is worthwhile and what is NOT worth doing on twitter
• Want to have some fun – the first blog post in this series refers

If you run a small practice and have found twitter useful, please share your experiences as comments below.

NB: On 23rd February 2012 Mark is speaking at two masterclasses in London addressing (respectively) The ‘Why bother?’ side of social media and The ‘How to?’ side of social media. One of them will be right for you. Full details here.