Great video – and one CPAs in all fields should watch to realize the impact social media has, not only on their firms or companies, but on our society. Thanks for posting!
This video has been making the rounds for a little while now. Some of the statistics are suspect. Others are irrelevant.
People with large twitter followings and LinkedIn connections have been using it as proof that they “got it right.” But I wonder what “it” is.
The real question is: Can you use social media to do more than rack up statistics yourself? I.e. Can you monetize it? Can you even create a path to ROI (including all your time?)
While everyone knows “someone” who makes money using social media, most people haven’t made a dime; they have only made followers.
Used to be, we ran ads and money poured in. Then it was direct mail And then e-mail campaigns. None of these work as well anymore.
What has changed is that people are now relying on the seller as their *last* resource for learning about the offered product or service. This is the big shift. In fact it’s a sea change.
Social media is like a gold rush, right now. Sure there’s gold in them thar hills (has been for some time … many have collected some decent size nuggets), but right now more people are making money selling spades and claims than mining gold.
All that being said…
I follow CPA_trendlines on twitter and referred a colleague to the “Marketing and Business Development” webinars (for which I received marketing via e-mail) … so Rick is getting it right IMO. He’s providing a service via twitter and using that to create a brand which makes me open and read his e-mails … giving him a chance to sell me stuff. Nice work. And a nice example of how to use social media to mine gold.
I went to the SCACPA Professional Issues Update last week, and there were still a ton of CPAs in the office who thought social media was a complete waste of time. Bad for them. Good for us, I guess.
Great video….some VERY interesting stats in there. I am going to repost onto my blog for my small business clients. Many of them are timid about social media.
4 Responses to “Is social media a fad?”
Scott H. Cytron
Great video – and one CPAs in all fields should watch to realize the impact social media has, not only on their firms or companies, but on our society. Thanks for posting!
stuart
This video has been making the rounds for a little while now. Some of the statistics are suspect. Others are irrelevant.
People with large twitter followings and LinkedIn connections have been using it as proof that they “got it right.” But I wonder what “it” is.
The real question is: Can you use social media to do more than rack up statistics yourself? I.e. Can you monetize it? Can you even create a path to ROI (including all your time?)
While everyone knows “someone” who makes money using social media, most people haven’t made a dime; they have only made followers.
Used to be, we ran ads and money poured in. Then it was direct mail And then e-mail campaigns. None of these work as well anymore.
What has changed is that people are now relying on the seller as their *last* resource for learning about the offered product or service. This is the big shift. In fact it’s a sea change.
Social media is like a gold rush, right now. Sure there’s gold in them thar hills (has been for some time … many have collected some decent size nuggets), but right now more people are making money selling spades and claims than mining gold.
All that being said…
I follow CPA_trendlines on twitter and referred a colleague to the “Marketing and Business Development” webinars (for which I received marketing via e-mail) … so Rick is getting it right IMO. He’s providing a service via twitter and using that to create a brand which makes me open and read his e-mails … giving him a chance to sell me stuff. Nice work. And a nice example of how to use social media to mine gold.
Donna Bordeaux
I went to the SCACPA Professional Issues Update last week, and there were still a ton of CPAs in the office who thought social media was a complete waste of time. Bad for them. Good for us, I guess.
Chad Bordeaux
Great video….some VERY interesting stats in there. I am going to repost onto my blog for my small business clients. Many of them are timid about social media.