Accounting firms are not exempt from the influence of social networking and social media. The questions firms face are: Is it better to control or influence social networking? And how can social media help accelerate business?

I believe firms should make every effort to influence social media and forget about trying to control how employees use them. What follows is a presentation of the facts and why I believe exerting influence is the only logical economic alternative.

How information is communicated and consumed has changed drastically in recent years. At one time, most of the world's information was controlled by a few and distributed to millions, but the Internet has caused publishers to radically rework their business models. Because of e-mail, firms conduct business differently than they did 10 years ago. It won't take long for today's emerging social media to become critical in helping firms communicate with precision to clients and prospects.

In order for firms to benefit from these tools, however, they must join the global online community. Unfortunately, too often I hear that firms are merely trying to control social media by restricting access to them.

LEVERAGE, DON'T RESTRICT

Some cite reasons that sound logical, but there's no good rationale I can find for firms to control employee access to e-mail, instant messaging and social media (e.g., Facebook, LinkedIn and Twitter). Firms often prohibit social networking tools because the business purpose is not immediately apparent. They don't understand social media and how to leverage them. Not all social media tools have a business purpose, but ignoring them will limit your firm's influence and may ultimately leave it in a noncompetitive state.

This is a strong statement, so allow me to explain.

Clients and potential clients are talking about you and your firm online. Do you know what they are saying? According to Nielsen Research, 78 percent of people trust their peers' opinions. This is not a new phenomenon, but social networks make it much easier to disseminate information. In particular, micro-blogging tools like Twitter and Facebook's status update feature enable users (including businesses) to spread information instantly. (At first Twitter was only popular with teens, but now adults and businesses are learning how to leverage its ease of use and pervasiveness.)

Most consumers and potential clients go directly to the Web to research alternatives and seek peer advice. Should your firm ignore this fact, or should it take a proactive stance and influence what employees and clients say about your business? Referrals have always been important, but social networking is like steroids for a referral program (for positive or negative results).

Differentiation is critical when it comes to marketing, and social networking tools help individuals and firms differentiate themselves in the marketplace. Organizations can play to their unique abilities, rather than try to be all things to everyone.

Moreover, social media provides 24/7 transparency and access. Some argue that this invites an invasion of privacy, but others believe in its power as an accountability tool. It is becoming increasingly undesirable and problematic for people as well as organizations to present multiple personalities in a connected world.

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