Many valuation firms say they feel their involvement in social media is not a very effective way to market their practices, according to the findings in the BV Firm Economics & Best Practices Guide. We asked two BV firm marketing experts for their thoughts on this. “People sometimes want to see hard ROI numbers from their efforts, but it’s often very difficult to determine that a lead came from social media,” says Mellanie Bartlett of Sweeney & Bartlett Marketing Partners Inc. “We also find that, when surveyed, clients often don’t ‘connect the dots.’ Even if you directly ask them, they won’t reference that they saw you on LinkedIn or Twitter—it will be another source. Social media is important in that it allows you to be ‘out there’ and connected, but you often will not be able to measure a direct ROI because it’s just one part of an overall branding campaign.” Plus, some firms have an overly complex social media strategy and lose sight of the fundamentals, according to Debby Sweeney. “For example, when using social media, it’s critical to make yourself ‘findable,’ so you can simply focus on having a good LinkedIn profile, and that can help a great deal,” she says.

In addition to BV firms, Sweeney and Bartlett also have clients that are law firms, CPA firms, and professional associations. In 2018, the firm celebrates its 10th anniversary in business. Sweeney and Bartlett offer other BV firm marketing insights in a full interview in the June issue of Business Valuation Update.