The ROI of Social Media: What’s In It For Me?•All audio is streamed through your computer speakers.

•There were several attendance verification questions presented during the LIVE webinar to qualify for CPE of the LIVE event only.

•For the archived/recorded version of this webinar, the link at the end of this presentation will be to final exam on the topics and learning objectives covered during this webinar plus there are also 3 online review questions to answer per hour.

Scott H. Cytron, ABCCytron and CompanyNSA – Sept. 24, 2013

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ROI – What Does It Mean?

Return on Investment – of course

Learning Objectives

Upon completion of this webinar you will be able to: •Leverage Facebook, Twitter, LinkedIn and other social media applications to expose your brand to a larger audience.•Connect with potential prospects and even close new business.•Determine the ROI related to social media.

But How Do You Measure ROI?

How much does it cost you to acquire a new client?

If you spent 10 minutes a day on LinkedIn reaching out, connecting and developing referral sources from current clients, how much time in terms of “billable time” would you have to spend to get a new client?

LinkedInHourly rate = $17510 minutes of your time = $17.50

Lunch with a Client to Develop ReferralsHourly rate = $1751.5 hours of your time = $262.60 (plus the cost of lunch)

Measuring Social Media“Every single comment, photo, video or post takes a few seconds for a user to digest. It is estimated that the average ‘like’ on Facebook takes seven seconds per person while close friends of this person will take an average of five seconds to digest that ‘like.’” – Michael Cohn, CompuKol Communications LLC

1. Social media is about building relationships

2. Social media is not hard to learn3. Determine the ROI4. Position yourself as an expert5. Try and try again

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•Women, Hispanics and young people were the most active on social networking as of May 2013.

•18-29 age range is the highest.•30-49 – second•50-64 – third•65+ - fourth

Who’s On?

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•70% of LinkedIn users (~225 million users) are recognized as decision makers.

•Every Fortune 500 company has a profile on LinkedIn.

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For Business?

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MEME

$$

WebWeb

LAWLAW

SellSell

WritingWriting

DentistDentist

ArtArt

Science

Science

YOUYOU

LinkedIn

ROI

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• Social utility that helps people communicate more efficiently with their friends, family and coworkers

• 500+ million users• Other applications can feed into your Facebook profile

and vice versa• Your events can be posted and marketed using

Facebook

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• Ideal for small- and medium-size firms.• Facebook Fan pages allow you to officially represent

your business on Facebook:– Unified place to hold conversations about you.– Get updates on what you’re doing– Interact with you– connect with other people who are “just like them”

and love your services/products.

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•Fastest growing age bracket is 55-64 years old.•100 million+ users.•Real time short messaging service•You follow people - other people follow you•Send short quick messages of no more than 140

characters•Help answer questions for others•Use to share information

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Google+

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•343 million active users.•2nd most popular social media platform next to

Facebook•Connect – professional, like LinkedIn•Search engines!

What’s Up With Google+?

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1. LinkedIn2. Google+3. Twitter4. Facebook5. Tumblr

Recommended Social Media (in order)

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•What are three business goals you want to achieve?

•How much time will you invest using social media to achieve them?

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1. Be the first accounting technology-focused blog – pioneer and leader in technology trends (Jan 06)

2. Further peel away the old, stodgy accounting industry image.

3. Achieve improved Web site optimization and Web presence through rich content.

4. New way of appealing to the youth culture, future CPAs of our firm.

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5. Create new tool for communicating more often, more easily and interactively.

6. Earn media opportunities .7. Elevate the maven status of Greg Price. 8. Create a vehicle that makes use of Microsoft

partnering to help raise our prominence as a Gold Certified Partner.

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• Goal 1: Educate and inform the accounting community on sales tax compliance and reporting issues.

• Goal 2: Promote thought leadership in sectors touching SpeedTax customers.

• Goal 3: Build brand awareness.• Goal 4: Position the company as a reliable, trusted

source.

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•Interactive Web site – speedtax.com•Facebook•Twitter•Blog•Individual team members on LinkedIn

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• SEO• Landing page for Twitter, Facebook• Increase speedtax.com traffic• Encourage repeat visits• Showcase industry experts• Media-centric – “tax” and SEO• Create reason to reach out to prospects – new blog

entry

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Goal 1: To educate and inform the accounting community on sales tax compliance and reporting issues.

Results:•Attracting second and third-tier accounting firms as business partners and recommenders.•Just starting to attract Big 4.

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Goal 2: Promote thought leadership in sectors touching SpeedTax customers.

Results:•Continuous expansion with key influencers: businesses, accountants, media, analysts. •Fortune 500 companies searching by SpeedTax instead of other key terms (Leadlander).

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Goal 3: Build brand awareness.

Results:•Direct feedback of SpeedTax as being “accounting-centric.”•SpeedTax is a trusted source for sales tax information.

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Goal 3: Build brand awareness.

Results:•Growing list of business partners – from both sides.•Consistently delivering a very concise message to each audience, including VARs: better technology, affordable, easy to use.

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Goal 4: Position the company as a reliable, trusted source.

Results:•Accounting orgs actively published articles by SpeedTax in their magazines/journals.

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Review Questions for Self Study CPE:

Now’s the time to answer the review questions 1-3.Click here:http://www.proprofs.com/quiz-school/story.php?title=NTc1ODcw

*Once all questions are complete submit and close quiz window.

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Link with Scott on LinkedIn at www.linkedin.com Join Scott on Facebook

Follow Scott on Twitter www.twitter.com/scytron

Scott H. Cytron, ABCCytron and Company972-743-4671scott@cytronandcompany.com

Thank you for participating in this webinar.Below is the link to the online survey and CPE quiz:

http://webinars.nsacct.org/postevent.php?id=11366 Use your password for this webinar that is in your email confirmation.

You must complete this survey and the quiz or final exam (for the recorded version) to qualify to receive NASBA marketing CPE credit.

National Society of Accountants1010 North Fairfax Street

Alexandria, VA 22314-1574Phone: (800) 966-6679

members@nsacct.org