Social Media: A Break from the Buzz?

With so much of our attention being focused on Social Media, I thought we would take this opportunity to shift gears just a little, without down shifting too fast.  However, once I started really getting into this post, I found that McDonald’s announced their first ever Social Media Chief.  Yet, in a separate blog post, some Fortune 100 companies were reviewed and out of the top 10, only 3 had any social media presence.  With that will continue down the path of social media one more time.

When launching into a new project or campaign, have you started to consider how you will integrate in the new channel of social media? Or, what about those campaigns that you already have established – have you considered any social media integration going forward?  As larger brands start getting on the proverbial band wagon – it might be a good time to take note of what they are doing.

If you are anything like we are (we professional services marketers), sometimes the simple concepts get lost in logic. Once you take a step back and see where you have been vs. where you are trying to go, the social media light bulb MIGHT just go off for you.

When this light goes off, it might be a very good time to stop and take stock of in what you are currently involved and if there is a way for you to integrate a social media strategy into your plan.  This is not to be confused with your larger marketing communications plan, but rather, your individual project or campaign.  Start small afterall, learn and then build into the layers.

Social media can act as an additional channel for you to promote, distribute and communication information about your event, campaign or project and can be done at little to not cost at all.  Recently, I have been taking stock of different professional services firms and how they are integrating social media into their mix. 

I have been reviewing different professional services firms out there to see where they stand with their social media.  In some instances, I found firms that appeared to be “reaching” for social media in having strange posts, inconsistent twitter tweets, no continuity in the messaging – you get the picture.  In other instances, I have seen some firms do a great job of utilizing the medium for recruiting and alumni relations.  There is, of course, that other end where firms are just not doing it at all and could be losing out on opportunities at no hard ($) cost to them.

In any campaign, it is important to consider the multitude of channels to which you can distribute your message.  There is one main consistent theme that I have mentioned in this blog: STRATEGY.  When looking at an individual event, campaign or project, social media can be considered if you have a strategy behind it.  You do not have to have it all figured out, but social media does require that you have other forms of “COMMUNICATION” taking place with your audience in order for it to be successful. 

As with any communications strategy, remember the who, the what and the when and how best to get your message out consistently.

Social Media & Your Firm

A topic that is so engaging, we just cannot stop writing about it. It is amazing when a marketing communications channel hits for the first time, the buzz is loud, inconsistent and sometimes overwhelming. This is especially true when you have firms trying to get on the bandwagon without a strategy, an idea on how to track ROI and worst, no real depth as to what the channel can do for them.

As you all know from reading the posts, I have been a bit of a skeptic with the social media integration into professional services firms. However, for those of you that have been following me, you also know that I am slowly changing my opinion.

I do believe that the size of the firm is a significant factor into establishing and deploying a social media plan. Second to that, the firm must have a well laid out strategy – a topic on which I keep harping.

Just today, I ran across an article published in a public accounting trade magazine and the content offered some great points about social media integration. First, it was clear to admit that professional services firms in general have been pretty slow adopters. So much so that those firms that are doing it are considered “pioneers”.

Some relevant information that I would like to share from the Accounting Today article includes remembering that content is king, you should include and go beyond blogging and, now this is the important part, give your readers what THEY want.

The article proved some of the points that we have published in this blog but one rang out most important – STRATEGY.  A quote that says perfectly a lot of which I have been saying on the soap box was from Kristin Gentry at The Growth Partnership, “…those that have (established a social media strategy) are probably doing it because they think that they have to and don’t have any plan or strategy in place – which is necessary for measuring ROI”.

Make sure you have a strategic plan in place, your key stakeholders involved and a method in which to track your ROI – whether it be monetary or by the # of hits back to your web-site or additional points of engagement.  Just don’t do it to do it.

Social Media: Code of Conduct

I thought that this week we would move away from social media and move onto some other fun and interesting topics. However, I ran across another article that caught my attention. The title of this post says it best – Code of Conduct. FINALLY – something that really relates to the business segment.

MarketingSherpa, always reliable for its stats and case studies, has an article titled: “Establish a Social Media Code of Conduct: 5 Actions to Protect Your Company’s Reputation”.

Now this is not just a post full of bullets without relevance, it is rather, one that will help keep you compliant with FTC guidelines as part of the December 2009 update of the Guides Concerning the Use of Endorsements and Testimonials in Advertising. As stated in the article:

“The Federal Trade Commission’s updated Guides Concerning the Use of Endorsements and Testimonials in Advertising, which took effect on Dec. 1, 2009, was a wakeup call to marketers. Those working in the blogosphere and social media realized their actions could attract federal scrutiny if they weren’t careful.

Many responded by updating or drafting internal policies that reaffirmed their commitment to following basic ethics and regulatory guidelines, such as:

o Disclosing their identities in social networks
o Disclosing relationships with bloggers
o Honestly conveying product performance…”

This article hits on the most important item that we have tried to cover in all of these posts, brand integrity! It also does a great job of outlining how internal departments collaborate, vs working in their own little silo.

Sound familiar?

To read the full article, click here or send us a comment and email address and we will send it your way.

Social Media Offers Philosophical Percepts?

The social media train is just chugging along. Each day I come across great articles that talk about the how-to’s, not-to’s, what to-do’s, and all that jazz. Today, I found an article that struck me. As a professional services marketer, my job is to create, build and enhance the relationship that the client, prospect or referral has with our brand. Simple, right? Interesting how that concept is so muddied with our members/partners in our firms as at the end of the day, our job is the same as our CPAs, Attorneys and Engineers – we just do not bill out at enormous rates and rather are seen as overhead!

Back to the point. I ran across an article today on Starbucks and how they have built meaningful customer engagement via Social Media. Now, I am not a Starbucks fan (Dunkin’ is my preferred cup of Joe), but they understand the value and real depth of social media.

In the article, the author walks through 10 philosophical percepts that drive Starbuck’s social media efforts. Now, although they are a B2C, I do believe that there is much for us Professional Services Marketers to gain:

1. It’s about relationships, NOT MARKETING.
2. Social media fits within a larger digital strategy.
3. Make it clear where to start.
4. Look around the corners.
5. Be authentic.
6. Build coalitions
7. If it doesn’t matter on Twitter, it doesn’t matter (my favorite!).
8. Focus on the four responses:
      a. Amplify
      b. Context-ify
      c. Change
      d. Ignore
9. Take chances, but “be mostly right”.
10. An economic meltdown is a terrible thing to waste.

Without going into detail on each of these percepts, we could all apply them to our firm in our own way. I challenge you to do just that.

However, if you would like to read the full article in detail (and cheat by taking down their answers), then I have posted a link to the article here.

Social Media: Four Steps to Social Media AND 5 Tips for the Busy CEO

I guess that this is an issue that is addicting to those that not only get involved with social media, but also those that are looking for stats and are constantly researching. When a new “marketing” buzz hits the streets, we all take notice.

When major news magazines, outlets and business trade publications are brining “social media” into their reports, I think it best we all stay on top of it and keep the critics honest. Today, I ran across a couple of great articles that I thought it prudent to share as they are right in line with the topics we have been highlighting here on the blog.
The first is an article published by Marketing Experiments in partnership with MarketingSherpa. The topic they outlined (and have a video presentation) is “Social Media Marketing in Four Steps: A methodology to move from sporadic to strategic use based on research with 2,317 B2B and B2C marketers”. The article goes into four steps that include: Research; Objectives; Actions; Devices. Selfishly what I like about it most is that it really does go a little more detail about your, (PAUSE HERE), yes, STRATEGY!  Click here to read the entire article as well as view the presentation.

The second article that I came across was published / sponsored by American Express Small Business and is focused on the CEO who wants to be Active on Social Media. This article does a very good job of breaking down what the CEO needs to know to get going while still running his/her business. There is a listing of 5 quick tips for you CEO’s out there that want to be like the Richard Branson’s and Bill Marriott’s of the world. For this article, I have retweeted it on Twitter (PSMarketer).

Great articles and I believe that they are in line with what we have been discussing over the past several weeks. Enjoy – and remember to let us know if you have any questions.

Social Media: Personal vs. Professional

When crossing the line does matter.

As we have discussed in the in the past several posts, it is crucial to have a strategy in place that will allow you to build out your social media plan in your professional services firm. Now, this strategy, of course, should be a larger “communications” strategy for your firm. Simply, you should have a documented plan of the communications / content you wish to distribute along with time-lines  and intervals. This is especially important for the more established brands or larger firms.

In continuing in our research, I do find that the small to mid level firms tend to get confused over what social media is all about. Even some of the top ranked firms in the United States seem to just be “doing it” to say they are doing it. YES, there is an individual managing the line, but that same person should not be using social media for their own, um, platform.

I am sure you say, that would never happen and well, I have found (and I will not embarrass those that I found), that you can tell which professional services firms DO NOT have an established plan. I bet you are wondering, how? Let me give you a quick top 3 “gimmees”:

1. No clear coordinated effort with other firm communications
2. No consistent timing on content distribution (daily, weekly, monthly, etc)
3. Content posts that do not relate to the overall brand (self promoting posts, non-related content, etc)

Take a look at your own and some of the competing accounting, legal and other professional services firms out there that have promoted a strong brand and even more so, those that are promoting themselves as being in “social media”.

I go back to what I have said previously, if you do not have a plan and you do not collaborate, you will diminish the brand in which you have invested your partners money and in the end, you will fail. If you fail, you fail your firm, brand.  So crossing the lines do matter.

Back to Social Media

Although we have moved away from Social Media to focus on other important aspects of Professional Services Marketing, just today I found a great link that is focused on the “beginner” in B2B Social Media.

Also in the past several weeks, I too have been dabbling in the social media environment for the professional side of things. It is hard to keep up with all the different channels and different capabilities that each has. More so, if you are tapped into each one, the tracking is a bit difficult. I do suspect, however (and mark my words), that there will be some fancy reporting software technology that will come along and solve the problem.

Back to where we started. Ok, so Social Media is taking over the personal and professional electronic waves like a monsoon. I am finding benefit in it, but so are the thousands of others out there trying to do the same thing. Part of me is still convinced that if you are still looking to develop your brand and get your “footprint” familiar with who you are, what you do and where you do it, Social Media is not a strong route for you. On the other end, if you have a defined brand, established communications structure and strong overall recognition in your footprint, Social Media can be very valuable.

All said, I did run across a great article today sponsored by American Express. The stats are staggering – More than 40% of businesses using Twitter, Facebook, LinkedIn and blogs have generated a customer from each of them.

The article continues on to give 5 steps for beginners. Therefore, if some of you are looking for some additional reading on Social Media (and want to compare to what we posted in a previous post), read the article here.

More to come hopefully on how wonderful Social Media is working for us in generating new business and/or brand awareness.  In the mean time, please do read the article mentioned above if you are looking to start out on your own Social Media campaign.

Professional Services Marketing: When Only One Niche Has A Plan

In our last post, we discussed the known and painful issue of one niche outgrowing other major niches in your firm. When we discuss growth, we do not mean fiscal or monetary growth necessarily and rather, we mean the growth of your marketing, communications and strategic practice development programs.

We find all too often in professional services firms, especially those that have major focus areas (industries, service offerings, regional footprints, etc) that one or two may be further along in their strategic marketing plan than the others. This is not because the other niche areas are slow to respond nor that they do not “get it”. Rather, what you could be looking at is an instance where either leadership has not found the need, understood the need or they deem that the overall niche is just not ready.  In any of these examples, it does not mean that they are wrong or not with the game.

For the professional services marketer that is working with their niche, group, region or leadership team to build out the strategic marketing plan, we are in  a great position to help our counterparts.  Share, collaborate and identify best practices.  Sound familiar?

If you have developed out a strategic plan for your niche area or are working with your leadership to get it done, please reach out to those that have done it before you.  The collaboration and identification of best practices (and what not to do) will be a helpful learning exercise for all parties involved.

If you are not sure where to start with your strategic plan and are the first to pioneer it in your firm – Congratulations!  We have outlined below some simple steps to consider when putting together your plan:

1. Evaluate Where & What Has Been Done Previously
2. Survey Leadership to Identify What Has or Has Not Worked from Their Perspective
3. Research and Analyze Past Performance Metrics (if available)
4. Collaborate with Leadership to Determine Niche Growth Goals
   Brand Awareness
   Niche Growth
   Expanded Footprint
5. Develop Strategic Marketing Plan & Accompanying Budget

Before setting out on your strategic plan, it is imperative to truly understand what has been done previously and how it has been tracked.  Often times, you will find with professional services firms that they are not able to quantify the ROI. Surprising, I know (especially for those accounting firms out there!).

Once you understand where your niche has been, now you have to understand what leadership has set for goals in going forward.  With these two pieces identified, you are set in the right direction to have a solid foundation for your strategic plan.

Need help or have questions, please do let us know.  We have been down this road many a time and would be willing to help you (even if your counter parts or colleagues can’t or won’t).

Professional Services Marketing: When One Niche Grows Faster than Others

Happy St. Patrick’s Day!

I thought this week we could take a break from social media, however, I do reserve the right to revisit it at another time. For those of you out there that have contacted me, you will be proud to know that I have been doing some testing and sampling and so let’s see if my outlook changes.

The blog direction for this week is what to do when one niche grows faster than another. The rub here is – not as it relates to new business or billable hours. Rather, this speaks to a niche area, already one of your firm’s largest and most defined, advancing past all others in their marketing & practice development efforts. I am sure many have felt it and lived through it – so comments are welcome.

There is an opinion that the one running past all others should slow down and wait. There is another opinion that says, if you can’t beat ‘em, join ‘em. Then, there is the consultative opinion I gave my client – Do what is best for your niche and the end demographic while keeping it in the lines of the firm governance.

As we all know, niches differ by size, reach, services, team and knowledge base. Additionally, we also know that length of the sales cycle and relationship nurturing takes different involvement. Lastly and one of the important pieces often missing is understanding the end client / prospect demographic. If your niche is ready to be more progressive and the demographic is asking for it – stand out from your competition and shine.

If you have a niche that is outgrowing others or a niche that is complaining that they are being passed by, here are a few key things to consider:

1. Size and reach of niche
2. Is there an established marketing strategy?
3. Is there an established communications plan?
4. Do you have leadership stakeholders?
5. If you have it, work with your firm marketing or communications team

For those of you that are out growing other niches in your firm, keep your head high and push along. Help your team mates feel better about themselves, but do not let them hold you back. For those of you that are just not there yet – take notes and be a team player. Help your other niches out by providing feedback and comments. Remember, you are all serving the same common purpose for your niches – firm growth.

Still Debating Social Media for Professional Services Firms

Here today, not gone tomorrow. We seem to be stuck on this subject – which by all means in my opinion is a great thing. I have been enjoying the feedback and comments from everyone.

Mr. Barry Dewar responded to me and let me know, basically, to not be a hater. Thanks Barry! He made me think with his note, however, that I am up on the soap box so much that it may appear that I have not seen the light of social media and its benefit in professional services marketing. With that, let me digress just a little.

As a long time marketer that has devoted their career to professional services, I have ridden the wave from the good ole days of direct mail all the way through to web, online retail, email and SEO (another subject for another soap box). Watching all these new communications channel come to life has been extremely rewarding. I do believe that when technology makes communicating with our clients / prospects easier, faster and more relevant, our jobs become even more fun than the day before.

The part that I am stuck on is the “new” marketers that come into professional services marketing and without any thought, just implement a new type of communication strategy, without having a global plan. Simply, any form of marketing communications will be a success in client relations and prospecting, if (BIG IF), you have created a proper strategy and built out your infrastructure.

I have been watching a firm of late that has just launched a social media “strategy”. I have consulted with several of the partners at that have asked my professional opinion. I am still forming my response as if they look to be as their trusted consultant, I  have to be  certain to not offend their communications team or efforts. But more importantly, how do you tell partners in a large (one of the largest firms in the South), that their social media campaign promotes a stigma of individual self promotion rather than that of promoting the value proposition of the firm? Ooops, I might have just let the cat out of the bag.  I should have them read a great article I ran across today from the Business Insider:  “7 Insanely Useful Ways to Search Twitter for Marketing” as it gives some great basics for how your “tweets” are picked up!

So, with that, I will agree that there could be exponential benefit and return by including social media in your marketing communications strategy. Notice I say INCLUDE, not do in a silo and definitely not do to self promote.

If your firm is starting to research social media for your practice development and client nurturing, please remember a few key items:

• Define your Goals:
  - Brand Recognition
  - Practice Development
  - Client Nurture
  - Recruiting
• Agree on Strategy at the Executive Level
  - Define Stakeholders
• Develop Content Owners & Team
  - By Industry, Service, Product or Niche Teams
  - COLLABORATE
• Research Competition
  - Continue to watch your competition

Of course all of these basic steps can apply to any size firm / organization.  However, the larger the firm / organization, the more important it is to follow the steps to ensure your message is consistent and the strategy is followed.  A breakdown in either area can and will lead to brand deterioration.

Thanks everyone for your feedback – I hope I seem to be more of a “fan” of social media this time.