Social Media - Passing Fad or Valuable Tool - Update for NYSSCPA Higher Education Conference on March 25, 2011. Using case studies from CPAs using social media, MACPA's experience with three major benefits - communication, marketing, and learning. Also featuring our groundbreaking work in Second Life with the AICPA Tech + Conference adn XBRL International

1. CPAs & Social Media
– Passing Fad or
Valuable Tool
2011 NYSSCPA Higher Ed Conference
New York, NY
March 25, 2011
Tom Hood, CPA.CITP
CEO
Business Learning Institute
Maryland Association of CPAs

2. Will the pace of change increase or
decrease?
Will complexity increase or
decrease?
Welcome to the New Normal

3. “As it relates to science and technology, the
rate of change in the next decade, is likely
to be 4 to7 times faster than in the last
decade. If it is 4x faster it would be like
planning for 2010 in 1890, if it is 7x faster
it would be like planning for 2010 in 1670.”
-Expert on Education Panel, The Aspen Institute

4. We feel overwhelmed by a big
wave of changes
The 5 C’s
• Competition
• Compliance
• Convergence
• Change
• Complexity

5. Three Drivers of Change
WEB 2.0 THE NET
GENERATI
ON
Wikinomics -
The New
Economic
Order
Inspired by Don Tapscott

6. Turbulent times require new skills and new ways of thinking
“You can’t stop the waves, but you can learn to surf”
- Jon Kabat-Zinn
Photo: Pratt’s surfing page

7. Meet your future employees?
“over 64% of students in
grades K-12 play online
and/or electronics based
games regularly”
“Downloading music is #1
activity by middle and high
school students”
“40% of middle school students
and 67% of high school
students have a personal
website
(Facebook, MySpace, Xanga)” Source: Project Tomorrow – Speak Up 2007 report

8. Generation Gap? Or Generation Lap?
One third (35%) of American adult internet users have a
Generations profile on an online social network site, four times as
many as three years ago, but still much lower than the
65% of online American teens who use social networks
“In 1997, young people for the first time were recognized by
adults as being authorities on something truly revolutionary
– digital technology, interactive media, and collaboration.”
– Don Tapscott “Growing Up Digital”

9. Eight Net Gen Norms
1. Freedom – The freedom to work when and where
you want
2. Customization – My job my life
3. Scrutiny – I know what you did last night
4. Integrity – Be a good company to work for
5. Collaboration – Teamwork
6. Entertainment – Work should be fun
7. Speed – Let’s make things happen now!
8. Innovation – Let me invent

10. To be a guild master in a game like World of
Warcraft, you need to be able to create a vision, find
recruits and give them a platform on which to
learn, and orchestrate the group's strategy. To me, it
sounds a lot like the skills a corporate executive

11. Why we are here...

12. Fear?
What if informal & social learning
could be the key to success in this
new normal?

13. The challenge is how to position
our organizations for L > C
“To keep pace in your
industry, let alone as a
leader, requires your rate
L>C
of LEARNING to be
greater than, or equal
to, the rate of CHANGE.”

14. Learning 2.0 Tools

16. The New Math
Social Networking (Old)
+ Social Media (New)
= A change in the way we
build relationships
Source: Matt Goddard, CEO R2integrated

17. Social Media supplements & extends the Social Network

18. Old School vs. New School
Chamber of Commerce
Class Reunions
Friends and Family
E-mail
Industry Meetings
Newsletters

19. It’s about the Network Effect
Metcalf’s Law
"states that the
economic value of a
network increases like the square
of the number of its nodes, or the
law of increasing returns.
Usually, when people share a
piece of equipment, the return
diminishes. When more people are
engaged in the network, more
value is returned to the user."

20. Get found – Digital
Footprints

21. Marketing Strategy 2.0
Website
e-mail
Twitter
newsletters
Social
Blog
Networks
Source: MACPA & Business Learning Institute

22. James Carroll, CPA
Website Facebook
Twitter

24. How one small firm got on the WSJ?
“I think today demonstrated the value
of the social networks (Facebook, Twitter, etc.) and their ability to spread
the word. Encouraging others to read our materials and help us with our
mission to Bury the Billable Hour”
- Dan Morris, CPA from Verasage Blog
Website Blog
Twitter

25. Time to pay attention?

26. Bill Tom
MACPA’s Journey

27. MACPA’s Social Media Map
45,000 views
900+ connections
450 connections
43,000 views
2,943 followers
450 members
Top Accounting
Blogs
Top 75 Business Blogs - 2010 34

28. Our journey started with blogging

29. Social Media connects us to thought
leaders

30. Learning 2.0
The connected learner

31. AICPA Leadership
Academy

32. Social Media Engages & Shares
Insights
35

33. Social Media can take notes!
36

34. The learning continues by using social
media tools to connect the learners

35. Using a blog to support continuous
informal learning - AICPA EDMAX
www.bizlearningblog.com

36. Comments on BizLearningBlog include a
participant and author of book
Jane Bozarth - author

37. Twitter during the event, slideshare & blog post-event

38. Building “Real” Relationships

39. Blogs supporting training
www.cpaisland.com www.slacpa.org

40. Communication

42. Accounting Education Pavilion

43. 2009 AICPA Tech-Plus
Conference
Video: “CPAs in Second Life at the AICPA Tech + Conference,” from the Maryland Association of CPAs: bit.ly/AICPATechPlus

44. We learned that social media can be a valuable
leadership tool
Web 2.0
Association 2.0
Leadership 2.0

45. The world is changing
From: To:
• Hierarchy • Network
• Command & Control • Connect & Collaborate
• Experience Curve • Collaboration Curve
• Lecturer • Facilitator
• Push • Pull

46. Next Steps - It’s all about
you!
1. Create a digital
footprint
2. Start listening
3. Make friends
4. Create & Share
5. Recognize &
Reciprocate

47. CPA Learning 2.0 – The first self-directed
learning tool for CPAs
• Got Permission from http://www.cpalearning2.com
Helen Blowers at
Library Association to
borrow with attribution
- Bill Sheridan & Tom
Hood worked on
exercises and used
blog to support self-
directed learning
- Oct, 2007 Staff
volunteered to “do it”
- Feb, 2008 Staff
completed (95%
participation)
- Opened up to the
world

48. Top Ten Learning Technologies
1. Twitter – micro-updating tool
2. YouTube – video hosting and sharing tool
3. GoogleDocs – online collaboration tool
4. Delicious – social bookmarking tool
5. Slideshare – presentation hosting and sharing tool
6. Skype – instant messaging and VoIP call tool
7. Google Reader – RSS feed reader
8. Wordpress – blogging tool
9. Facebook – social networking site
10. Moodle – course management system
Source: www.C4LPT.co.uk

49. It is really about
people
Learning + Leadership x New Tools > C

50. The Leader’s
job is...
To provide hope &
inspiration and to
make your follower’s
feel stronger and
more capable

51. Tom Hood, CPA.CITP
CEO
Business Learning Institute
Maryland Association of CPAs
http://www.bizlearning,net
(800) 888-481-3500
tom@bizlearning.net
Follow me on:
Twitter: http://www.Twitter.com/tomhood
LinkedIn: http://www.linkedin.com/in/tomhood
Facebook: http://www.facebook.com/thoodcpa
Plaxo: http://tomhood.myplaxo.com
Slideshare: http://www.slideshare.net/thoodcpa
Youtube: http://www.youtube.com/thoodcpa
Second Life avatar name: Rocky Maddaloni