LinkedIn

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#1
Coddington  
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Anyone care to comment on their experiences developing business using LinkedIn?

Even though I have over 500 contacts, (even collecting low value contacts to get to that plateau), I've only had one project come from a new relationship cultivated on LinkedIn and only a handful of other prospects. It has been great for job searches, not so great for business development. Anyone else?
-Brian

Director of Tax Accounting Methods & Credits
SourceAdvisors.com

Opinions my own.
 

#2
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How do you work your contacts? I generally go through my contact list and set up a meeting of some sort with as many as is reasonable at least twice a year. I view LinkedIn as one more research tool to identify contacts and maintain a "touch", but it doesn't take the place of good ol' fashioned relationship building.
~Captcook
 

#3
Coddington  
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Sure, I get the part about working my existing contacts. That's not the question. I'm talking about making new contacts that lead to work. So far, it doesn't seem particularly useful for that.
-Brian

Director of Tax Accounting Methods & Credits
SourceAdvisors.com

Opinions my own.
 

#4
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LinkedIn will never replace showing up to my local chamber of commerce event. People want to see us, and no online social media will change that. I could be incompetent and still get business by showing up, and vice versa no matter how competent I try to come across on social media doesn't seem to impress anyone.
 

#5
Coddington  
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So how many local CPAs/tax attorneys hang out at local chamber of commerce events? My practice consists of tax accounting methods and credits compliance, consulting, and representation services. I also perform unbundled tax research and ghostwriting (marketing, memos, position papers, etc.) for other tax practitioners. I haven't tried going direct to market since a disastrous first year with a salesperson on commission.
-Brian

Director of Tax Accounting Methods & Credits
SourceAdvisors.com

Opinions my own.
 

#6
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21-Apr-2014 11:01am
I have had a good amount of success with social networking. I have picked up dozens of clients. Some I have had for 3-4 years and have still not actually met face-to-face. I also have some referral sources that I have never met face-to-face.

I think some keys are that you have to interact and get to know people. Just as when you go to the Chamber meetings and just exchange business cards, you cannot expect that person to hire/refer business just because you made contact. You have to get to know them before they will.

Also, do not spew out advertising about your firm. People are very good at ignoring advertising emails, commercials, billboards. Show your expertise by commenting on posts. Share relevant posts/tweets/articles with people. Write blog posts. But do not ever say "call me for all your accounting/tax needs"
 

#7
STG  
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Charleston, SC
I've found linked in to be a backup system to my marketing. I do a lot of long-distance tax returns, and I get a lot of clients via my blog and other social media. Many potential clients are a little leery of sending their stuff to someone they've never met, and my Linked In profile gives them comfort that I am a real person.

It is also useful for closing the sale on a new client. I actively recruit my clients to be connections, and then get recommendations on my Linked In profile.

Think of your Linked In profile as your resume.
 

#8
STG  
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That said, I can't agree more with David - face to face is the best marketing you will get.
 

#9
Coddington  
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So it sounds like most people are doing the same with LinkedIn as me. Thanks for the information. However, please let me clarify: When I say I don't go direct to market, I mean I do not try to solicit taxpayers directly. I do call on CPA firms, law firms, and other tax advisory firms to gain access to their clients via referrals or working together, etc. Having been on both sides of the equation, when the CPA firm is an adversary and when it is a friend, I will not try to set them up as an adversary by soliciting their clients directly.
-Brian

Director of Tax Accounting Methods & Credits
SourceAdvisors.com

Opinions my own.
 


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