Professional services and social media
Many firms are concerned about reputational and other risks if their partners and staff blog and tweet in their practising capacities. These concerns are justified, but should not mean a blanket ban. Sensible governance can provide rules to guide individuals and ensure everyone benefits.
There are at least eight good reasons why firms should invest in social media best practices:
1. Being found by prospects in your target market/s. The surest, lowest-cost way of attracting the right new business prospects for your firm is through social media.
2. Other than professionals’ time, social media has a negligible cost. Certainly some firms will want to use consultants to get them going and most will correctly want to have their website professionally designed. But compared to traditional media and sales methods, social media in most instances has a superior cost-benefit proposition.
3. Social media is not a substitute for personal selling in B2B firms. Rather, it should be part of the mix to identify, qualify and prepare prospects for time-intensive, i.e. expensive, sales calls.
4. Social media is dynamic, thus allowing firms and their practitioners to develop and fine-tune their corporate and personal brands.
5. With discipline and governance in place, social media is relatively easy to manage.
6. Social media engagement makes better practitioners, as I argued in my recent BRW post, ‘Why professionals should blog’, suggesting CPD points should be awarded for blogging.
7. Business-related social media activity provides fresh and additional meaning to professional life. Some even say it’s recreational.
8. And finally, social media produces business results.
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