Thought Leadership: Using Social Media To Generate New Business Opportunities
While some accountancy practices choose to ignore the benefits of maintaining a social media presence, many have learned to engage with prospective clients and to drive revenue from online business – a sure sign that the momentum behind social media marketing isn’t going to let up any time soon.
For those on the fence about using online platforms as a means of generating new business –
77% of accountants use social media, according to the Wolters Kluwer Social Media Survey (source: ICAEW)
When exercised to its full potential, social media can be a powerful aspect of your client generation tool box. It is one of the easiest and quickest way to…
- Build authority and establish yourself as an industry expert
- Receive feedback on your offering
- Target specific buyers
- Generate new business
Not to mention boosting visibility and awareness for your firm, at little cost to you.
But a simple Facebook page or Twitter account isn’t going to increase your revenue overnight. You need to engage with your audience, inspire them to take action and to enquire when they need your services.
Make it work for you…
To gain a better understanding of how to use social media to facilitate your business growth needs, here are some essential “do’s and don’ts” to maximise your efforts –
Do… offer your opinion on emerging trends. This is a great way to great way to position yourself as a thought leader while informing your audience of updates in their industry. You will boost engagement by showcasing your expertise and offering valuable advice on issues that actually affect your clients.
Do… give the kind of information that genuinely helps your clients and prospects without them needing to pay you – offer just enough free counsel without giving away your ‘intellectual property’.
This way, you’re not undervaluing your services, and your serious enquiries will understand that to reach a comprehensive solution, they need to work with you. Remember, the majority of prospective clients aren’t ready to buy immediately, so this approach will help to keep your firm front-of-mind for when they are.
71% of consumers are more likely to purchase based on social media referrals (source: HubSpot).
Do… be selective about what you post to ensure your prospective clients only see you at your best. Whether you’re writing an opinion piece or you’re sharing a link to a relevant article, use this simple caveat – Think mindshare, not mindless – to help you filter the value from the nonsense.
Don’t… follow the example of fledgling businesses before you. While it may be tempting to post a mindless commentary on your latest business offering, spamming your followers will only force them to disconnect.
Think beyond the sale – why should your audience choose to work with you over your competitors? Don’t tell them you’re an expert, show them. Demonstrate your experience and know-how with topical posts and opinion pieces to promote the value of your expertise, without over-selling the features that prospective clients have learned to tune-out.
It’s important to remember that today’s consumer doesn’t engage with pointless narration. And that means posting trivial updates for the sake of having a consistent, up-to-date feed is more damaging than having no online presence whatsoever. Instead, use online platforms to engage with your followers and to start a conversation. That’s what makes social media such a great tool for learning more about prospective clients and how they respond to your services, and then using that momentum to convert them into new-business.
For better or for worse, social media marketing is here to stay – but it’s how you use it that dictates how successful it will be for your firm. To learn more about building authority for your accountancy practice and how that can translate into new business and increased revenue, the Propero Partners team have put together an actionable, 4-point checklist…