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Forward

Five years ago most businesspeople didn’t know what a blog is, and today, it’s impossible to escape the influences of social media with sites like Facebook, LinkedIn, and Twitter demanding more and more of our attention. How we are communicating with each other is changing.

This survey shows exactly what we are seeing in the business community at large: companies are embracing social media and improving the way they communicate with customers and stakeholders. This has taken the form of everything from monitoring of public opinion in cyberspace, to attempts at viral advertising, to more traditional public relations responses.

What we are also seeing is people talking to people again. There is no corporate speak, no canned messages; only individuals responding to concerns and questions of others. The social media landscape is full of examples.

Frank Eliason completely changed how Comcast interacts with customers through their Twitter account @ComcastCares. Scott Monty at Ford is building buzz through campaigns like The Fiesta Project on YouTube. And folks like Christi Day at

Southwest are responding in near real-time to potential PR disasters like when a company pilot removed actor/director Kevin Smith for being too big to fit in one seat.

In professional services like law and accounting, firms, large and small are selling precisely that: people. This should make the medium of social media a natural

extension of the marketing and sales activities. But this survey clearly shows the nuanced concerns of professionals—whether it’s compliance with legal privacy issues or magnitude of time needed to monitor the variety of channels clients use.

Consumer-driven companies seem like they are ahead of their business-to- business counterparts, but their earlier arrival to the party was driven by one simple reason: that’s where their customers are. Professional services are going to be forced to deal with all the thorny issues of social media as the same migration takes place in their customer base and Millenials who primarily communicate through texting and Facebook want companies to meet them

where they are.

~ Todd Sattersten

Todd Sattersten is an author and speaker. He

has been involved with social media since 2003 and was one of

the first individuals paid to blog, when 800-CEO-READ hired him in 2004 to start a weblog for their company. Todd used social media extensively in the promotion of The 100 Best Business Books of All Time in 2009 with myfavoritebizbook.com as a great

example of engaging readers and allow them to share their

favorite books.

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IntroductionIn April, 2010, McGrath Marketing Associates and Clear Verve Marketing, LLC launched a study on the social media habits of attorneys and accountants in Southeastern Wisconsin.

The study was conducted online between April 26, 2010 and May 30, 2010. The survey was promoted through partnerships with the Wisconsin Institute of Certified Public Accountants (WICPA), the Association of Accounting Marketing Southeastern Wisconsin Chapter, the Law Marketing Association Southeastern Wisconsin Subgroup, The Wisconsin Law Journal, and through media releases.

Over 600 professionals between the ages of 21 and 60 participated in the survey representing 144 different firms ranging in size from fewer than 50 employees to firms

with over 1000 employees.

Participants were asked demographic questions to qualify them by age and profession. The survey was structured to provide different questions to

professionals currently participating in social media and those that were not.

Results are presented as answers to a series of questions. This allows answers from multiple survey questions to be grouped together for greater understanding.

613 financial professionals participated in the survey. Participants were equally divided between males

(51 percent) and females (49 percent).

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Who participated in the survey? • 613 financial professionals participated in the survey. The participants were

equally divided between males (51 percent) and females (49 percent).

• The participants ranged in age from 21 through over 60 years. The majority of participants (52 percent) were middle-aged, between 31 and 49 years.

• Nearly all described their profession as accounting (84 percent). A small number (5 percent) described their profession as marketing or communications.

• Participants named 144 companies as an employer. Baker Tilley was most frequently named by participants, with 14 indentifying it as his/her employer.

• Over one in four said they employed at large companies employing 1000 or more. Nearly 6 percent described themselves as a sole proprietor. Approximately 25 percent described their employer as having fewer than 50 employees.

• When asked who they had responsibility for directly communicating with, nearly 75 percent said they communicated directly with customers; about half said they were responsible for communicating with vendors; and nearly half said they communicated directly with job applicants. Fewer said they communicated directly with their company’s sales channel.

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Who uses social media? • Nearly two-thirds said they used social media such as Facebook or LinkedIn.

• Females were significantly more likely to say they used social media (72 percent of females compared to 62 percent of males).

• Younger participants were more likely to say they used social media. The usage rates ranged from approximately 94 percent of those aged 21 through 25, to 34 percent of those aged 60 years and over.

• The majority (52 percent) said they use social media for select communications but generally rely on phone calls, texting, or e-mails. Only one in four said they used social media moderately or for the majority of their communications. Males were more likely to describe themselves as infrequent social media users (32 percent of males compared to 23 percent of females).

• Of those who said they use social media, approximately 80 percent said they use LinkedIn and nearly three in four said they used Facebook. Far fewer said

they use Twitter (13 percent) or blogs (11 percent).

• Again there are gender differences. Significantly more females use Facebook (83 percent of females compared to just 61 percent of males). Conversely, males were likelier to say they use LinkedIn (87 percent of males compared to 74 percent of females). Nearly equal rates of males and females said they used Twitter and Blogs.

• Participants aged 40 to 49 were most likely of any age groups to say they used Facebook and LinkedIn.

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Why are some professionals not using social media?

• Nearly 40 percent said they had concerns about confidentiality of Social Media, particularly Facebook. Participants in the 40 to 49 age group were most likely to have confidentiality concerns.

• Others said they were concerned that Social Media communication lacked professionalism.

• Males were significantly more likely to say that they preferred other communication venues to social media (72 percent of males compared to 54 percent of females).

• Several noted that their companies were regulated by the SEC and FINRA which they said limited their freedom to use social media venues.

• Only a small percentage (12 percent) said that their company had a policy blocking the use of all social media.

Nearly one-third of those who do not use social media said they anticipate they will start using Social Media in the future.

• Females were more likely than males to say they would start using social media in the future (42 percent compared to just 27 percent of males).

• Employees in the 31 to 49 year age range were most likely to say they anticipated they would use social media.

• Having customers start using social media or having their employer start encouraging its use would convince them to start using social media.

Most of the professionals who do not use social media stated that they

prefer to use other methods of communication such as phone, texting, or emails.

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How do employees learn of social media?The large majority of employees (88 percent) said they learned of social media through friends, family, co-workers, or business associates. Over half said they learned about social media independently.

• Only 27 percent said they learned about social media by attending a class or seminar.

• Fewer than 3 percent said they used an instruction manual.

How would professionals like to learn about using social media?

• Non social media users were evenly distributed among desired learning methods:

• 35 percent prefer written instruction manuals

• 37 percent prefer on-line instructions

• 34 percent prefer seminars/classes

Lack of formal training and not understanding how to use social media

professionally may be two reasons some professionals

have not begun using social media for work.

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How is social media used? While women were more likely to use social media, their use was generally limited to networking or personal communication. Males were less likely to use social media, however, users were more slightly more likely to use social media communicate with customers or other business associates.

• When asked what they used social networking for, the participants named personal communications most frequently (72 percent), followed by professional networking (71 percent) and personal networking (61 percent).

• Fewer than one in four said they used social media for business communications, just 16 percent said they used it for advertising or promotion, and 4 percent said they use it for communication with sales and distribution.

Some participants said their companies encouraged their employees’ use of so-cial media.

• Employers encourage use of LinkedIn for networking, prospecting, and recruiting new employees.

• Sole proprietors and employees of smaller companies were more likely to say that social media played an active role in promotion and business communications.

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How does social media fit into business communications?

• Only two percent of those who use social media said they used it to communicate with all of their customers and business associates. Over 40 percent said they did not use social media to communicate with any of their customers or business associates. Over half said they used social media to communicate with just a few or some of their customers and business associates.

• Females were more likely to say they did not communicate with any customers or business associates (45 percent of females said they did not communicate with social media compared with 38 percent of males).

• Participants aged 40 to 49 were most likely to say they used social media to communicate with some or a few customers and business associates.

• When asked which customers or business associates they used social media to communicate with, the participants were most likely to say they would use social media with those who they knew were users of the media. They generally described these customers or business associates as young and IT savvy. In order of magnitude, the following are the types of business associates contacted through social media.

• Past and current co-workers • Clients • Professional contacts and associations • Prospects • Recruiters and job applicants • Educational sources

Over 40 percent of participants said

they did not use social media to communicate

with any of their customers or business associates.

However, participants were most likely to say they would use social media with those who they knew were users of

the media.

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How are firms approaching social media policies?Companies appear to be approaching social media policy development very differently. Approximately 30 percent of those who were social media users said their company had a policy regarding use of social media. In addition, others said that their companies were in the process of developing or refining their social media policies.

• Employees of companies with at least 1000 employees were most likely to say companies had established guidelines for social media use.

Although a significant percentage of companies allow, even encourage participation in LinkedIn, they appear to be uncertain of how to regulate use of other venues such as My Space, Twitter,

Facebook, and blogs. Respondents were apt to say that their companies recognized the power of Social Media as a communication tool particularly for marketing, sales and promotion,

however, recognize the need to control its content and distribution. An important goal is keeping employees’ personal communication separate from professional

communication.

• Of those participants who said there was a policy in place, the most frequent policy description was that social media was limited to business use.

• Companies that allowed limited personal use limited the amount of time employees could access social media or limited access to specific venues, most frequently Facebook or Twitter. A number said that while LinkedIn was allowed, their companies outlawed Facebook in the workplace. Some companies limited social media access to select employees or functional areas.

• Several companies subject use of social media to general corporate communication policies, social media communications must follow

guidelines established for all external communications.

• Companies said that social media employee communications were not to represent the company or employees. Information about the company’s

strategic plans and financial status are not appropriate social media content.

An important goal is keeping employees’

personal communication separate from professional

communication.

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What are the advantages of using social media?The efficiency of Social Media for quickly reaching a wide range of people was identified as the major advantage to its use.

• The majority cited the ease and speed of communicating with a large numbers of people as social media’s great strength.

• Use of social media was also noted to be very inexpensive, especially when compared with print and television media.

• A number said that social media’s ability to connect with young consumers was very advantageous, especially since they were turning their backs on traditional venues such as land phones, cell phone calls, and web sites.

In addition, the following were identified as social media advantages:

• Ease of use

• Flexible

• Good for networking

• Good for business promotion

• Good for job recruiting and job hunting

• Gives cutting edge impression-not stodgy

“[Social Media is a] key point of connectivity for Generation Y; need to be able to relate to your

audience in their preferred style and means.”

~ Male 31-39 years

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What are the disadvantages to using social media for business communications?The biggest disadvantage to using social media is that it is difficult to control the media after its release.

• Although a large number said that large breadth of contact was a strong advantage of social media, they said it was also a disadvantage. They questioned whether the message could be distorted or changed when viewed by others outside of their targeted segments.

• Nearly 20 percent said they were concerned about the confidentiality of informa-tion released on social media.

• The venue is too casual and impersonal, especially when dealing with professional clients.

• It is time consuming to check all of the social venues for information and messages.

• Social venues are becoming too cluttered; too many messages with little or no value.

• Not all clients and associates use social media. To reach everyone will have to also use conventional media, such as e-mailing and phone calls.

• Older generation does not use it.

“Due to low cost and high volume, social

media messages become overwhelming to the

audience and will lose impact.”

~ Male 30-39

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What are the future social media trends? The large majority said that social media applications and venues will increase rapidly. Some qualified their responses by saying it would increase for select functions including sales, marketing, and human resources.

• Employee use of social media will become increasingly acceptable as companies recognize the power of social media. They said the use of Facebook, Twitter, and YouTube will increase.

• Companies will increase use social media to target select markets including consumers in their teens, twenties, and thirties.

• A number agreed that the future of social media will depend on employee and consumer age and industry. Several said that social media applications will increase as older workers retire. Others said that social media does not suit conservative industries.

• LinkedIn will become a dominant networking and recruiting tool.

“Soon all corporate communications will be broadcast using both

traditional and social media.” ~Male 60+

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Findings• Current social media venues might never fit the communication needs of all

consumers or businesses. A successful marketer will likely need to include an array of traditional and social media venues in their communication strategies.

• Control of information released on social media is of vital concern of both companies and their employees.

• There is not a central source of information as to how to use the different social media venues. Much of the information is passed among friends or business associates. Older workers may feel excluded from the various informal sources of social media information.

• Companies will likely have to provide social media instruction to employees. Employees will need to understand how to post professionally and how social media communications differ from those in other mediums.

• Large companies in particular are proceeding cautiously when adopting social media for business communications. Smaller companies are more aggressive in using social media, but are less proactive about developing policies around its use.

• Users view social media as dynamic, with new social media outlets frequently being developed and implemented.

• The relative equality in the number of people who use social media for personal and business communications indicates a strong need for social media policies at all firms.

• Use of social media as a promotional tool is likely to increase as use becomes more common among workers and their potential clients.

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About UsAbout Clear Verve Marketing

Clear Verve Marketing, LLC special-izes in Promise MarketingSM, helping professional service providers, not-for-profits, community organizations, retailers, and custom manufacturers promote their ideas, services and causes to their target audiences. The company provides marketing planning and support, creative and technical writing, graphic design, public relations, social media, and event

planning services.

Clear Verve Marketing, LLC 13309 Watertown Plank Rd.

Elm Grove, WI 53122

262-796-9001 www.clearverve.com

About McGrath Marketing Associates

Since 1999, clients have relied on McGrath Marketing Associates to guide marketing and product strategies and uncover opportunity. MMA is a full service marketing and research firm offering expertise in consumer and business-to-business research. The company provides qualitative and quantitative research to a diverse spectrum of clients in the insurance, healthcare, finance, and manufacturing industries. McGrath Marketing specializes in translating research findings into product and market implications and strategies for companies ranging in size from small start-ups to Fortune 500 firms.

McGrath Marketing Associates 1650 Shady Lane Elm Grove, WI 53122

262-797-2561 www.mcgrathmarketing.com

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