Blogs, Podcasts and Social Media

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					2009 CALIFORNIA ACCOUNTING & BUSINESS SHOW & CONFERENCE

GREGORY L. LAFOLLETTE, CPA.CITP
Executive Editor of The Progressive Accountant and Senior Manager, Tax & Technology Consulting at Eide, Bailly, LLP
Greg@TheLaFollettes.net - or - Greg.LaFollette@pmgb2b.com | www.TheProgressiveAccountant.com 605-977-4823 OFFICE | 734-330-9015 CELL | 800-401-3454 FAX | 200 E. 10th St. #500, Sioux Falls, SD 57104
Linked in: www.linkedin.com/in/greglafollette | Facebook: www.profile.to/glafollette | Twitter: www.twitter.com/glafollette
HOME OF THE ʻSPOTLIGHT SERIESʼ PODCASTS & WEBCASTS

Monday, June 1, 2009 4:00 to 4:50pm
LAX Hilton Hotel Los Angeles, CA

CASTING A NEW LIGHT ON TECHNOLOGIES IN THE ACCOUNTING PROFESSION

Blogs, Podcasts and Social Media
to Support Your Clients & Attract New Business
Did you know?
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What You Need to Know About

Source: Karl Fisch, Apapahoe High School, Littleton, Colorado Public Schools

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Sometimes size does matter. If youʼre one in a million in China, there are 1,300 people just like you. In India, there are 1,100 people just like you. The 25% of the population in China with the highest IQʼs is greater than the total population of North America. In India, itʼs the top 28%. China will soon become the number one English speaking country in the world. If you took every single job in the U.S. today and shipped it to China, China would still have a labor surplus. Name this country: richest in the world, largest military, center of world business and finance, strongest education system, world center of innovation and invention, currency the world standard of value, highest standard of living. England in 1900. The U.S. is 20th in the world in braodband internet penetration. (Luxembourg just passed us.) 1 out of every 6 couples married in the U.S. last year met online. There are over 175 million active Facebook users. (March 2009) The average Facebook user has 120 friends. We are living in exponential times. There are over 2.7 billion searches performed on Google each month. To whom were these questions addressed B.G.? (Before Google) The number of text messages sent and received every day exceeds the population of the planet. There are about 540,000 words in the English language...About 5 times as many as during Shakespeareʼs time. More than 3,000 new books are published daily. Itʼs estimated that a weekʼs worth of New York Times contains more information than a person was likely to come across in a lifetime in the 18th century. Itʼs estimated that 40 exabytes (thatʼs 4.0 x 1019) of unique new information will be generated worldwide this year. Thatʼs estimated to be more than in the previous 5,000 years.
BLOGS, PODCASTS AND SOCIAL NETWORKING 1

THE PROGRESSIVE ACCOUNTANT Gregory L. LaFollette, CPA.CITP

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The amount of new technical information is doubling every 2 years. Itʼs predicted to double every 72 hours by 2010. Third generation fiber optics has recently been separately tested by NEC and Alcatel that pushes 10 trillion bits per second down one strand of fiber. Thatʼs 1,900 CDs or 150 million simultaneous phone calls every second. Itʼs currently tripling about every 6 months and is expected to do so for at least the next 20 years. The fiber is already there, theyʼre just improving the switches -- the marginal cost of these improvements is $0. What does it all mean? Shift happens.

Now you know...
Because Iʼm a Journalist
Todayʼs presentation will cover: What? Who? Why? How? And, because weʼre accountants, How Much?

Blogs
Fact: All blogs are websites. Not all websites are blogs. What is a blog, anyway?
The Oxford English Dictionary added the word “blog” in 2003 and defined it as “a frequently updated Web site consisting of personal observations, excerpts from other sources, etc., typically run by a single person and usually with hyperlinks to other sites; an online journal or diary.”

What? What about RSS and XML?
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RSS – “Really Simple Syndication” ■ Whatʼs With Those Little Orange Buttons?
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Gathers materials YOU tell it to “Subscription” based so YOU control inflows Will eventually be a big part of solving the spam problem Part of IE 7.0 & 8.0, Firefox 2.0 & 3.0x, Outlook 2007, Chrome, etc. Many aggregator programs are available – some are free.

http://www.tinyurl.com/littleorangebuttons

Who?
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Demographics of Internet Users ■ Do YOUR clients use the Internet? Growth and adaptation of the “blogosphere” and social networking Some interesting statistics

Internet Users by Income

Source: Pew Internet & American Life Project

THE PROGRESSIVE ACCOUNTANT Gregory L. LaFollette, CPA.CITP

BLOGS, PODCASTS AND SOCIAL NETWORKING

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Internet Users by Education

Source: Pew Internet & American Life Project

Internet Users by Age

Source: Pew Internet & American Life Project

Who? Blog Search Tools
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www.Bloglines.com www.Feedster.com www.Technorati.com www.BlogSearch.Google.com www.BlogSearchEngine.com www.CPAPodcasts.com

www.TheTechGap.com

Why? Why would a CPA want to POST a blog?
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Help publicize a firm Specialties Stake out “recognized expert” territory Share information quickly Client perception “Personal” flavor

THE PROGRESSIVE ACCOUNTANT Gregory L. LaFollette, CPA.CITP

BLOGS, PODCASTS AND SOCIAL NETWORKING

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Why? Why would you want to READ a blog?
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Thousands of experts ■ Estate planning ■ Business valuation ■ Technology ■ Sarbanes-Oxley Itʼs “personal”, not “institutional” Theyʼre easier and more fun to read --- tend to be “crisp” and are usually written in the first person Variety of medium (text, audio, video)

How? Choose a Hosting Service.
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Blogger (owned by Google) TypePad (owned by SixApart) MoveableType (owned by SixApart) VOX – (owned by SixApart) LiveJournal (owned by SixApart) WordPress (Community supported – former MoveableType people)

How? BlogWrite for CEOs - Debbie Weil
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Go to your passion! SHORT is good! Frequent is good, too! Minimum once a week --- 3 or 4 times is better! Write as you speak – avoid over polishing Use correct grammar and syntax Organize – be respectful of your readersʼ time Include contact information

For More About Debbie Weil: http://www.wordbizstore.com/Beginners_Guide_to_Blogging.php

Podcasts
What is a podcast?
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An audio file (MP3) on the Internet Distributed automatically when “subscribed” For playback on portable media players Can mean either the content or the method The host or author is often called a podcaster Is a combination of the name of Appleʼs music player, the iPod, and broadcast Some podcastersʼ web sites also offer direct download or listening

Professional Podcasts

THE PROGRESSIVE ACCOUNTANT Gregory L. LaFollette, CPA.CITP

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The iTunes Store

Social Networking
Social Networking Business Style
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What IS “social networking”? Which platforms are important? How are ADULTS using social network today? How does it fit into a workday? How might growth in adaptation change my utilization? What do I do when I get back to the office?

Social Networking Today
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People Sharing - Horizontally Provide answer to 3 questions – ■ Who am I? ■ Who are you? ■ Who are all those other people, places and things? Share personal information Feelings, Pictures, Opinions, Anything Networking at Cyber Speed

Social Networks
Institute for Corporate Productivity found that 65% of businesses are connected to a social network such as: ■ Plaxo ■ LinkedIn ■ Facebook ■ Twitter ■ MySpace ■ Orkut / Mebo / Etc. etc. etc. etc. etc.

Social Networking Today

Source: Pew Internet & American Life Project

Share of adult internet users who have a profile on a social network: ■ 2005 ......................... 8% ■ 2008 ........................ 35% How often do they visit these sites? ■ Daily ....................... 37% ■ Every few days ......... 23% ■ Once a week ........... 15% ■ Less frequently .......... 23% Share of adult internet users who have a profile on a social network: ■ 18-24 year olds ....... 75% ■ 25-34 year olds ........ 57% ■ 35-44 year olds ....... 30% ■ 45-54 year olds ........ 10% ■ >65 year olds ............ 7%
THE PROGRESSIVE ACCOUNTANT Gregory L. LaFollette, CPA.CITP BLOGS, PODCASTS AND SOCIAL NETWORKING 5

Facebook, YouTube at Work Make Better Employees
Source: Study by University of Melbourne - April 2, 2009
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“Workplace Internet Leisure Browsing,” or WILB, helps sharpen workersʼ concentration. 70 percent of people who use the Internet at work engage in WILB. People who use the Internet for personal reasons at work are about 9 percent more productive that those who do not. “Short and unobtrusive breaks, such as a quick surf of the Internet, enables the mind to rest itself, leading to a higher total net concentration for a daysʼ work, and as a result, increased productivity.”

Online Status Updates
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Source: Pew Internet & American Life Project

Answer one question: “What are you doing right now?” Evolution to business uses – the “cool” factor Twitter --- et al Percentage of online American adults using a service to post updates: ■ May 2008 ................. 6% ■ Nov. 2008 ................ 9% ■ Dec. 2008 ................11%

Adult Social Networking Users
Platform Utilized

Source: Pew Internet & American Life Project

Uses Claimed

Over Half of Adult Social Networking Users Have 2 or More Profiles
Source: Pew Internet & American Life Project
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83% have profiles on different sites 17% have them on one site 24% say itʼs to keep up with different friends on different sites 19% say itʼs to separate personal from professional 4% for different parts of their personality 4% have old, unused profiles

Privacy
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Source: Pew Internet & American Life Project

36% allow anyone to see their profile 58% restrict access to certain content Could someone find out who you are from your public profile? ■ Easily ...................... 43% ■ Moderately difficult . 33% ■ Very difficult ............ 20%

THE PROGRESSIVE ACCOUNTANT Gregory L. LaFollette, CPA.CITP

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Growth in Use of Online Social Networks
Source: Pew Internet & American Life Project

Facebook Demographics

Source: The New York Times - March 29, 2009

Top Social Networking Rankings Monthly Visits - Jan. 2009
Source: Compete.com

Visits are initiated when a user enters a site. As the user interacts with the site the visit is live. Visits are considered live until the userʼs interaction with the site has ceased for a 30-minute period.
THE PROGRESSIVE ACCOUNTANT Gregory L. LaFollette, CPA.CITP BLOGS, PODCASTS AND SOCIAL NETWORKING 7

Social Networking Tomorrow
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Vertical Networks for the Like-Minded ■ Knowledge Collection and Sharing ■ Business and Personal Connections ■ Collaboration For Buying, Selling, Sharing Work Expansion Requires Social Networks Cooperatives – Buying, Selling The Flat World Goes Social

Platforms to Consider
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Plaxo LinkedIn Facebook Twitter

Plaxo
Plaxo: An Online Address Book
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Provides automatic updating of contact information. Information is stored on Plaxoʼs servers. When edited by the user, the changes appear in the address books of all those who listed that account in their own books. Plug-in for Outlook Can be maintained through an online version Owned by Comcast

The Plaxo Connections

LinkedIn
LinkedIn: Business Oriented Social Networking
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42+ million visits per month Growing at 285% annually Currently >36 million registered users Average age of user is 40 User most likely to be male, white, and have a college degree Executives from all Fortune 500 companies Contact network consists of direct connections the connections of each of their connections (second degree connections) and also the connections of second degree connections (third degree connections)
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THE PROGRESSIVE ACCOUNTANT Gregory L. LaFollette, CPA.CITP

Growth in LinkedIn Monthly Site Visitors
Source: Compete.com

LinkedIn: Business Oriented Social Networking
1. Can be used to GAIN AN INTRODUCTION to someone you wish to know through a mutual, trusted contact. 2. Can then be used to FIND JOBS, people and business opportunities recommended by someone in oneʼs contact network. 3. EMPLOYERS CAN LIST JOBS and search for potential candidates. 4. JOB SEEKERS CAN REVIEW THE PROFILE of hiring managers and discover which of their existing contacts can introduce them. 5. LINKEDIN ANSWERS allows users to ask questions for the community to answer and the identity of the people asking and answering questions is known.

LinkedIn Profile

LinkedIn Group Profiles

THE PROGRESSIVE ACCOUNTANT Gregory L. LaFollette, CPA.CITP

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LinkedIn Group Profiles

LinkedIn Groups Listing

Facebook
Facebook Profile

THE PROGRESSIVE ACCOUNTANT Gregory L. LaFollette, CPA.CITP

BLOGS, PODCASTS AND SOCIAL NETWORKING

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Twitter
Twitter Pages

Twitter Tools
TWEETBEEP - Google alerts meets Twitter. Great service that notifies you whenever your name (or any other word you specify) is mentioned. Use it to catch @replies that might have been missed, for reputation management, or customer support (youʼd be surprised how many people vent their frustrations on Twitter). GROUPTWEET - Great tool to use if you want to send public tweets simultaneously, but only to a select group of people. For instance: sending notifications to your web development team or special updates to members of your family. TWITSCOOP - Real-time current events for Twitter. Use it to research the latest trends and to find out whatʼs the hottest buss...Also has a nifty tag cloud feature thatʼs quite useful. TWELLOW - A great Twitter directory...Fantastic way to connect with others in your niche and industry. Also links to other social networking profiles such as Facebook and LinkedIn. P.S. Donʼt forget to add your profile as well. STRAWPOLL - Need to get feedback? Create a poll and solicit responses just by tweeting...Cool interface, too! CURSEBIRD - A hilarious site that culls the profanity laced tweets together and displays them in a real-time feed. Great for a quick laugh - especially when a sports team in playing.

Five To Doʼs
1. Determine your firm “policy” 2. Put the Firm on LinkedIn 3. Lock up names for Facebook & Twitter 4. Put Yourself on a Network ■ I suggest LinkedIn & Facebook ■ Consider dual accounts for Facebook 5. Check often to see if you have been “Networked”
Social Networking Information: http://en.wikipedia.org/wiki/List_of_social_networking_websites

A Final Thought
“The impact of social networks on business over the next dozen years will dwarf that of group-ware over the past dozen years.” - Gregory L. LaFollette

Questions?
THE PROGRESSIVE ACCOUNTANT Gregory L. LaFollette, CPA.CITP BLOGS, PODCASTS AND SOCIAL NETWORKING 11