Question

write a paper covering accounting topics and uses within Facebook,

I asked my Professro and this what he suggests

this paperis to find a professional accounting firm or business doing transactions on facebook. Then write up the who what how and why they are using this media for their business purposes. Also provide your thoughts on the good and bad of using this type of media to conduct business.

Answer 1

Accounting Topics Uses in Social Media (like Facebook):-

Now a days social media is very common among the people, most of the people are connected to social media. Accountants are now thinking of using Facebook, Twitter, LinkedIn and other social media tools to promote your accounting firm.

How Accountants Can Benefit From Social Media

Social media tools like blogs, community forums, Facebook, Twitter, and LinkedIn offer cheaper, faster and better opportunities to keep in touch with potential clients, contacts and competitors as well as monitoring industry trends and recruiting new team members. Many savvy accountants are already using social media to gain exposure for their accounting firms and gain an edge on their competitors. If you would like to have the same success it’s crucial that you start by making sure your web site looks great and has a consistent branded image that extends to your social media profiles as well. Once you have established a professional presence, creating great content is the number one strategy for bringing highly targeted traffic to your web site. One of the very best ways to promote that content is through the various social media platforms that ultimately point back to your web site and/or blog.

                                                WRITE UP {using this media for their business purposes}

Who?

Most of the common public connected to social media like using Facebook, Twitter, LinkedIn and other social media tools with the thought to use this platform to in cash the opportunity to grow their business though social media using it for business purposes.

What?

Social media platform such as Facebook, Twitter, LinkedIn and other social media tools can be use to advertise the product and services to public at the cheapest cost with covering large amount of public.

How?

1.Your clients and potential clients are on social media so we can reach them through this platform.

2.Social media is easy to handle therefor convenient for the businessman.

3.Social media help the business to stand up by popularizing the organization in public through post and bloggings.

4.   Increase your client bond – protect customers and reduce attrition

Why?

Businessman and accountant are using the social media platform due to two main reasons:-

1.Free or cheap way to advertise or sell their product online.

2.Reach wide no of clients and customer through social media.

GOOD THING ABOUT SOCIAL MEDIA FOR BUSIESS

1. Increase brand awareness

With nearly half of the world’s population using social media platforms, they’re a natural place to reach new and highly targeted potential customers.

Think people only connect with brands they already know on social media? Consider that 60 percent of Instagram users say they discover new products on the platform.

When Absolut Vodka ran an Instagram campaign to promote its limited edition Spark bottle, the company achieved a five-point lift in brand awareness.

2. Generate leads

Social media offers an easy and low-commitment way for potential customers to express interest in your business and your products. Lead generation is such an important benefit of social media for business that many social networks offer advertising formats specifically designed to collect leads.

For example, Renault Europe used Facebook lead ads that allowed people interested in learning more about a new model to book a test drive directly from Facebook, with just a couple of taps.

3. Boost sales

No matter what you sell, social media can help you sell it. Your social accounts are a critical part of your sales funnel—the process through which a new contact becomes a customer.

As the number of people using social media continues to grow and social sales tools evolve, social networks will become increasingly important for product search and ecommerce. The time is right to align your social marketing and sales goals.

4. Promote content

Promoting your content on social channels is a great way to get your smart, well-researched content in front of new people, proving your expertise and growing your audience.

For example, Adobe used LinkedIn Sponsored Content to showcase its research, including infographics and videos.

BAD THING ABOUT SOCIAL MEDIA FOR BUSIESS

1. Social media ROI is difficult to measure

Being active on most of the social media is undoubtedly very effective for your business what the main concern is the complex process of measuring ROI from all its campaigns. Though it’s a very daunting job, but actually not impossible. For you, it’s important to know how much worth the marketing activities on social media is bringing to your company but it’s difficult to get the exact numbers.

2. Less control on stuffs which are shared

On social media platforms, multiple users can interact with a single piece of content (Post, tweets). It is one of the most popular usage of social media with which you can engage with your customers and spread your words to most of the people, at the same time it works as one of the negative effects of social media on business.

Social interactions such as re-tweets, likes, comments, shares help to shape your social media marketing activities, but this also can turn against your campaigns if the interactions or comments are negative. These additions will not only reach your followers, but also to the other contacts of users who share, like or comment or retweet it. In this way it will be spread to the larger audience.

4. A mistake made on social media is hard to rectify

Any statement once released on social media channels circulates at lightning speed, so if you post something by mistake, will be very hard to rectify. Errors like circulating confidential information about your company are nearly impossible to reverse in social media channels.

5.Negative customer reviews are harmful

Social media is also a big platform for customers to complain about your products and services. Not everyone will directly contact you for any issues, they may land on your social media company profiles and post complaints or negative feedback/reviews about your offerings. The more complaints you get, the more your brand will suffer. Undoubtedly it is one of the disadvantages of social media for your business.

Always remember one thing: each of the negative comment/tweet will have repercussions for your brand.