A small investment in social media can get your firm in front of the right target audience, generating more qualified leads for your business.
The number of social media users worldwide has increased by 1.49 billion from 2010 to 2017, revealed in a recent study by Statista
. Their study identified that, this year, 71% of internet users were social network users, and these figures are anticipated to grow.
Social media is rising in popularity every year. Not only for personal use, but also for professional, because it enables firms to attract new clients and generate new enquiries. In fact, according to Propero Partners’ 2017 report (The State of Digital Marketing in Professional Services
), 82% of professional services firms have a LinkedIn business profile, 64% use Twitter for their firm and 55% have a business page on Facebook.
However, some companies continue to steer clear of social media. This rings particularly true in the accounting industry, where firms are still relying heavily on traditional measures, such as referrals, to gain new clients.
Unfortunately, increased competition means these traditional forms of marketing aren’t generating enough business for firms, especially the smaller ones. To avoid falling behind, accountancies need to focus on actively engaging in conversations on social media with their right-fit clients. Otherwise, more progressive firms that are leveraging social will continue to steam ahead, building better relationships and acquiring more market share as a result.
There are two ways accountancy firms can utilise social media: organically (free) and through paid advertising. For the best results, accountancies should leverage both methods simultaneously.
Organic Social Media
Using social media organically means building up a “following” and pushing out content to these followers without spending any money. Although doable, it can be difficult to build up an organic following and to reach a large audience of people with your posts. This is because you rely strictly on the followers you have to either share your content on their own profile or to interact with your posts for their friends to see, in order for your message to spread.
With a loyal and large following, publishing organic content on your social profile can be a very effective form of marketing, however many accountancy practices don’t have enough followers to make their organic social effective. To reap the full benefits, accountancies must complement their efforts with paid social campaigns to expand the reach of their messages and build up their social following.
Paid Social Advertising
Despite what you may believe, paid social advertising is an inexpensive way to get your brand in front of your exact target audience.
The beauty is that your ads are only made visible on the pages (or social feeds) of the people you choose to target. And, in most cases, you only pay when someone clicks on, or interacts with your advertisements. This means your money is only being spent on right-fit prospects who are actively demonstrating an interest in what you have to say.
With paid social campaigns, you have the power to keep your target audience broad (eg, all UK senior decision makers) or narrow (eg, Tech SMEs in the Birmingham area). The control is in your hands.
The bottom line is social media is here to stay and your competitors are getting on board. If you’re not already leveraging it, now is the time to start taking advantage of all the benefits this modern marketing medium has to offer.
To learn how to optimise your social media platforms, join James Noble, Senior Partner, at Propero Partners, on 7 November 2017 at the Forensic & Expert Witness Community Conference 2017
.* During his Social Media Marketing breakout session, he will reveal:
how to target your audience easily and quickly;
which social channels to use and how to use them effectively;
how to position your firm as an expert in the eyes of your target audience; and
how to build a bespoke social media plan, tailored to your firm.
* Forensic & Expert Witness Community Conference 2017, 7 November 2017, 10:35am Breakout Session One: Social Media Marketing - James Noble, Propero Partners