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The ROI of Social Media: What’s In It For Me?

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.

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The ROI of Social Media: What’s In It For Me?

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  1. 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.

  2. The ROI of Social Media: What’s In It For Me? Scott H. Cytron, ABC Cytron and Company NSA – Sept. 24, 2013

  3. ROI – What Does It Mean? Return on Investment – of course

  4. 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.

  5. 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?

  6. LinkedIn Hourly rate = $175 10 minutes of your time = $17.50 Lunch with a Client to Develop Referrals Hourly rate = $175 1.5 hours of your time = $262.60 (plus the cost of lunch)

  7. 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

  8. Five Lessons to Learn • Social media is about building relationships • Social media is not hard to learn • Determine the ROI • Position yourself as an expert • Try and try again

  9. Who’s On? • 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

  10. LinkedIn • 70% of LinkedIn users (~225 million users) are recognized as decision makers.  • Every Fortune 500 company has a profile on LinkedIn.

  11. For Business? LAW Science Art Web ME YOU Writing $ Dentist Sell LinkedIn ROI

  12. Facebookwww.facebook.com • 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

  13. Fan Pages on Facebook • 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.

  14. Twitterwww.twitter.com • 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

  15. Google+

  16. What’s Up With Google+? • 343 million active users. • 2nd most popular social media platform next to Facebook • Connect – professional, like LinkedIn • Search engines!

  17. Recommended Social Media (in order) • LinkedIn • Google+ • Twitter • Facebook • Tumblr

  18. StrategyStrategyStrategy

  19. Example of Social Media at WorkPresidential Inauguration

  20. Your Business Purpose • What are three business goals you want to achieve? • How much time will you invest using social media to achieve them?

  21. Objectives 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.

  22. Objectives 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.

  23. Case Study: SpeedTax • 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.

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

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