For many of you the term ‘social media’ will suggest nothing more than bad grammar and adolescent warblings about the latest Xbox games. I completely understand. Others among you may have considered its relevance to some businesses - mainly high volume B2C markets - but not to your professional services firm. You’re not alone. And yet, despite these doubts, you also have a slight nagging feeling that behind all that hyperbole and hysteria there might just be something in it. The good news is you’re right. And this article is for you.
A (very) brief explanation of how Social Media came to be
The art of marketing products and services has changed over the past decade in response to us - as consumers - being increasingly immune to traditional marketing messages. While our attention to advertising falls, and the demand rises for TV-on-demand and pop-up blockers, our general buying habits are taking on a completely new focus. People. We place far more importance on the opinions of others than ever before when making purchase decisions. No surprise when, thanks to the internet, we have unprecedented access to the opinions of fellow buyers, industry experts, independent reviews, company employees, and of course our friends and colleagues. These are people we believe and trust, and the explosion of sites that enable us to communicate in this way is what has broadly been termed ‘social media’.
How social media can help professional services firms
What are the reasons to get involved? While the application of social media may be more obvious for high-volume B2C products or services, it’s not so clear for higher value professional service providers. Your offering is different, right? It’s about your reputation, your expertise and your relationships. Well, guess what - that’s exactly what social media is about too.
In short, your social media can help you;
- Broaden your reach
For some of your potential client and employees, if you’re invisible on the web, you simply don’t exist. You have no identity. It isn’t just about having a website, it’s about a web presence – your digital footprint across the web within the communities that matter. We no longer get information exclusively from corporate websites, we use forums, blogs, RSS readers, and social media sites. This is where you need to be.
- Build your brand
Opinions matter. What’s yours? If you have one, let everyone see it. That white paper is no use on your hard-drive. The social web gives you myriad platforms to publish to groups and communities so, one at a time, start using them to build your brand. (NB - if you don’t have an opinion, you’re probably best off staying invisible).
- Build your network
When you have something to say, how many people can you say it to? How easy is it to reach them all, and how can new followers join you? And where can you share your ideas and connect with other thought leaders, expanding your expertise? These are the fundamentals of growing a business, and your digital strategy can impact them all.
- Build relationships
In this new, truly ‘customer-led’ business era, you can locate and then help people with specific areas of interest. Existing clients included. Rather than replacing face to face meetings, you’ll find that more and better conversations online generate more reasons to meet up.
Examples of how professional services firms use Social Media
Because this article is about the concept of Social Media rather the actual delivery, I have tried to avoid focusing on specific websites, tools, and technologies. Unavoidably, this is where that changes. I’ll add to this as specific case studies come in, but presently here’s something that might make it seem a little more real.
Global management and technology consulting company BearingPoint include podcasts and video to increases rate of downloads / registrations for a particular piece of research. The effects have been, allegedly, undeniable and a simple rationale was offered by Paul Dunay, former Global Director of Integrated Marketing at BearingPoint, describing a need to provide a range of options so users can pick medium their most comfortable with. In BearingPoint’s case that may typically include:
- Podcasts
- Blog posts and RSS feeds
- Video
- Offline events (often enabling invitees to set the subject prior to the event, then continue the conversation online afterwards)
Staying in the realm of consulting, Accenture have a publishing portfolio that includes 5 podcasts, 9 blogs and their own social network called the Borderless Workplace. McKinsey offer two groups on Facebook and 2 micro-blogs on Twitter. CapGemini’s Netvibes Universe community site includes blogs, bookmarking, online video, slide sharing, virtual worlds, and wikis.
These are included as part of a list published by Peter Kim (a list not restricted to professional services firms). I’ll be offering case studies of social media strategies from professional services firms in later posts (leave a comment to put yours forward).
Getting started: How to plan a Social Media strategy that works for you
You wouldn’t expect to create your own brand identity or PR campaign, and for the same reason it’s worth getting advice from your agency or experienced consultants recommended to you. However, that doesn’t mean you can’t get started right now, and the benefit of social media marketing is precisely that you can do it yourself
- Subscribe to a blog you can learn from
Or maybe two or three. See how often and how much they post, read any comments to their posts, get a feel for how it works.
- Start with one of the Social Media tools
I recommend starting with LinkedIn. If you haven’t already then sign up today, connect with colleagues, and especially join groups. There are many other sites and tools you can experiment with, and each of them are the subject of separate articles in their own right. I’ll be providing specific ‘use cases’ for professional services firms in later posts.
- Write your own blog
A blog is undoubtedly is the best way to present your brand as a thought leader, and a natural place for people to connect with you. Make sure your blogging strategy answers the following questions:
- What can I teach?
- What do I want to learn?
- How do I convey myself to potential customers?
Conclusion: Why Change?
Social Media is synonymous with the trust, openness, collaboration, and customer-focus that social media ‘tools’ facilitate. If you naturally dislike ’selling’ and prefer a genuine, client focused, value driven approach – the social web is what you’ve been waiting for. This is why for most professional services firms - besides learning about a few new tools and techniques – it’s Business As Usual.
And if that doesn’t convince you it’s worth getting involved, there’s one final consideration to make. Social media and the mass availability of information is having a significant impact on your IP driven business model. The value of information is declining, and the value of networks and relationships is rising. In short, your potential clients don’t need you any more. They have access to all the information they need - which is why you need to make sure it’s you they’re getting it from.
Opinions matter. What’s yours?
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What is your experience with social media (as a professional service provider) and what approach would you recommend? Add your comments below…
