What is LinkedIn and Can It Help Attract Clients to My Accounting Practice?

What is LinkedIn and Can It Help Attract Clients to My Accounting Practice

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For the most part CPAs are reasonably mindful of the significance of networking in growing their businesses. Sadly loads of accounting practices are still failing to realize the best way to integrate online tools in that effort. There are loads of such sites available. Facebook, Twitter, Ping.fm, Multiply, Google, Tumblr... and accountants who are serious about the future should familiarize themselves with all of them. Perhaps the most material of these websites, from a business networking perspective, is a site called LinkedIn.

LinkedIn is similar to Facebook in numerous respects in that it uses profiles, status updates, and groups, but with less on your "social" and more of your "professional" life. Instead of your connections sharing pictures of their cat, the focus is on employment, networking, references, and virtually anything else you'll need in the business world.

This is reflected in your profile, which is dominated by your current employers, and expanded on further down by descriptions of your experience, past and present, recommendations from clients and coworkers, and a personal "summary" where you can highlight your specialties. There is also space for your online social networking information. At the bottom of your profile you can include your website URL, your Twitter handle, and your Instant Messenger contact details.

You don't have to enter all your information, but you really ought to. LinkedIn will give you a percentage-to-completion box on the right side, indicating how ready you are to get out and start networking. Once your profile is filled out you can start connecting with contacts, requesting recommendations, and joining groups. One of the nice things about LinkedIn is that it's like a dynamic resumeconstantly updating and showing up-to-date progress, while providing an ever-changing face for potential clients.

But where LinkedIn provides many opportunities to its users, it isn't going to do the work for you.

The key, says Barry Macquarrie, "is participation". Macquarrie, who is director of technology at the KAF Financial Group, recently posted a blog on CPA2Biz outlining seven essential LinkedIn activities. The first four are fairly straightforward: first you sign up, maintain a complete profile, update your status, and connect with your clients or employers. The last three steps are more involved. Once your profile is established you need to join groups, share links, and start following other companies and competitors.

He also suggests that CPAs should join certain groups. Specifically he suggests creating/joining a group for your own firm as well as those of your competitors. He also recommends his own group, SocialCPAs, AICPA, your state's CPA society, and the International CPA Association.

You already understand the importance of social networking. If you wish to compete in today's market you shouldn't let the benefits proffered by online networking sites get past you, and LinkedIn is likely the reasonable place to begin. This is a brand new medium and there's no telling how far it can take you, but it's already proven to be worth the relatively small amount of time and effort it requires.

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