The Social CPA: Insight into Today's Social Web Scene
by Roy Keely, Xcentric, LLC (May 20, 2009) 

Don't be fooled; the social web is not only for those under the age of 25. While the average CPA has very different needs than a 14 or 21 year-old, this doesn't mean that you don't have some things in common. I’m sure you’re familiar with the adage "it's not what you know but who you know".  Well, with the development of the social web, perhaps 10 years from now the saying will be "it's not who you know but who knows you". The web is giving both individuals and companies a chance to be known like never before.   

Known for what you may ask? Any number of things- being a good service company, throwing good parties, not being shy around a camera, or being a reader and philosophy buff- pretty much whatever you want to be known for. Sure, some of these ‘social sites’ are irrelevant to you as a CPA; however, the social web’s relevance to the business world is growing exponentially and worth getting plugged in to for things like — building brand awareness, staying up-to-date on what others in your field are doing, creating referral networks, developing online discussion boards, and more. 

This is a quick overview of what's happening on the social web that's important for you to know about as a CPA. Unfortunately, this list may change in the next few months; welcome to the 'now'. Not to mention, there is plenty going on out there that you don't need to know about. That said, you'd be better off letting people like me waste time reading blogs about new websites that bring bird lovers together (no offense to bird lovers) and wait for us write about the sites that are relevant to you.  You stay a CPA and continue bringing value to your clients.

Twitter

Twitter is by far the fastest growing site on the Internet, growing 1,382% (reference link) between February 2008 and February 2009 and another 76.8% between February and March of 2009.  

What is Twitter? Twitter is a form of micro-blogging, which is a blog where shorter, media, or link-based posts are encouraged versus typical wordier blog formats. Twitter’s largest demographic segment is between the ages of 35-49 which is vastly different from other social sites on the web. Businesses are adopting this more than any other medium to create a 'following' of sorts. On Twitter people subscribe to follow other people/businesses to see updates as they are rolled out, answering the site’s fundamental question: "What are you doing?". It's the ultimate permission marketing mechanism that people are getting onboard with. Microsoft has even taken an interest in Twitter mania by rolling out a Twitter site called ExecTweets that allows you to follow popular CEOs and other executives.  

Click here to watch a video that helps describe the features of Twitter.

*TIP - if you are a CPA firm you should go ahead and sign up for Twitter, regardless of whether or not you are going to use it...why? So you can get the name you want! If your firm’s name is Brown, Cone, and Spalding you will want to claim either or both of these: www.twitter.com/bcs and/or www.twitter.com/brownconespalding. 

Facebook

Facebook (FB) is now a household name in the United States and in much of the world, ranking 5th in global Internet traffic rankings (reference link). CPAs are beginning to use FB as a recruitment tool rather than a 'revenue generator'. This is definitely the right perspective....for now at least. Give it 5 years (and whatever the 'hot' site is then), when the first major adopters of FB turn 35 and are looking for a CPA to add some intelligence to how they manage their, by then, $80,000 income.  Then you will have a marketing channel on your hands.  

So the major point here is  to start a Facebook page for your firm and let someone who is going to be onboard a few more years run with it. Day 1 it should be used for recruitment and general 'social web' awareness; however you should proceed knowing that one day it might very well be one of your top lead generation tools. You can't afford not to know about FB .

Did I mention AICPA is  jumping on board?  Last I checked, they had 858 members in their 'group', not counting their niche groups.

Blogs

Yes, you have heard of these. They are not going away and are becoming increasingly popular as a means to disseminate information to both large and small audiences. Whether it's sharing information with friends and family, Curt Shilling announcing his retirement from baseball (link), or updating interested home buyers on North Atlanta's Housing Market (link)- it's an efficient means of communication for any person or business looking to be known for…well…what they want to be known for.

There are many well-known blog platforms to choose from.  If you are interested in starting one, I suggest using one of these:

·        Blogger - www.blogger.com (free)

·        Wordpress - www.wordpress.com (free to inexpensive)

·        Typepad - www.typepad.com (free to inexpensive)

MySpace

MySpace has a strong following and ranks 8th in worldwide traffic (reference link); however there is not much obvious use for CPAs right now. They were the first to market on a significant scale and have become the social networking site known for music more than anything else. Unless you moonlight as a Motley Crew cover band this is not your best use of time. However, if you are a CPA and are in a Motley Crew cover band, I would love to write a story about you.

Honorable (& Interesting) Mentions

·        www.meetup.com - a social networking site that doesn't end there.  According to their website Meetup's mission is to “revitalize local community and help people around the world self-organize" (in other words, connect in real life).  What a novel idea!

·        www.affluence.org- a social networking site for the affluent where you can be involved in exclusive parties and other 'red-carpet' events if you make the cut.  To qualify as ‘affluent’ from their point of view you have to meet all of the following criteria: be worth in excess of $3,000,000, have an annual household income of $300,000 or more, and have 5 friends to invite that also meet the stated criteria.

·        www.yelp.com - Have you heard the term 'foodie'?  Basically an aficionado of food and drink...well this site is for them. It allows peer reviews of websites and other business establishments. It is the most trustworthy site I have found on the Internet when looking for that perfect spot. It also acts as a guide to businesses in local markets– if you are a CPA firm you need to be listed on this site! 

Now, before you jump online and get started, it’s a good idea to familiarize yourself with the sites you want to sign up for so you can be an informed user and make sure you are being known for what you want to portray.  Here is a helpful social web safety review from pcmag.com called “Online Safety Tips for Facebook Fogeys”.   

Roy Keely is the Marketing Director at Xcentric, LLC, a technology consulting group that specializes in network technology consulting, hosting, and implementation for accounting firms. Xcentric helps CPAs leverage and use technology for strategic and operational advantage. Roy can be reached at 678-297-0066 x525 or rkeely@xcentric.com.

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