Ernst & Young top the social media league in accountancy

09 July 2012

- Whilst social media has pervaded the majority of consumer focused industries, its use in B2B sectors is only just beginning to be considered seriously -

Ernst & Young, TaxAssist Accountants and PwC are the profession’s most effective users of social media. ‘Social Media in Accountancy’, an evaluation of the top 60 (by fee income) firms conducted by specialist professional services communications agency Flagship Consulting that identified these three firms as having the strongest presence across a blend of social media channels.

The study used Flagship Consulting’s algorithm to evaluate performance via a mixture of online tools such as Klout, Peer Index and Marketing Grader. Human analysis was also used to provide an in-depth look into the social media activities of the top 10 organisations.

Ernst & Young rated first due to the high levels of quality content used to create conversations on Twitter and Facebook. They have multiple Twitter accounts that interact with niche audiences as well as each other – ensuring only relevant and targeted information is posted rather than using a scattergun approach to content sharing.

Smaller firm TaxAssist Accountants are positioned second on the list above larger, global players, because of the fun and interesting personality they have created that interacts like a human, rather than a brand, with its audiences.

“On the whole, professional services firms which include the accountancy industry still struggle to run social media programmes that develop and maintain conversations with and amongst their target audiences.  There is a tendency for firms simply to broadcast brand activity, which offers little value to audiences on social channels”, comments Lewis Shields, Head of digital and social media, Flagship Consulting.

“There is no doubt that using an informal approach and responding to everyday issues works very well.  Accountancy firms are communicating to people first and foremost and need to engage them on a personal level.  Using consumer techniques and a personality driven approach makes organisations much more relevant to their online audiences and will generate a greater return.”

Shields believes that faceless corporates need to take a human approach and interact on consumer led social channels. B2B firms need to learn that there are valuable conversations taking place outside LindkedIn and find new ways to work that encourage a ‘people to people’ style of interaction with customers and prospects.

“This” says Shields “poses a problem for those B2B companies, particularly in industries such as finance, law and accountancy, that are faced with changing their internal practices and fundamental ethos of working if they wish to use social channels to aid growth and manage their brand. “

Flagship Consulting outlines five ways in which the profession can increase their digital presence:

• Develop a digital personality your audience can identify and empathise with, instead of portraying a faceless corporate
• Listen to the conversations your audiences are having on social media and develop updates and content that contribute and add value to them
• Be proactive in responding to enquires and thank users that take the time to share content with you
• Develop a rapport with influential presences on social media (bloggers, media) as these relationships can lead to endorsements to a wider audience
• Use each social media platform as an individual channel – craft content and conversations unique to that audience.

To view the full ‘Social Media in Accountancy’ report, please click here.

ENDS

For further information please contact Kiren Pooni on 020 7886 8442 or email kiren.pooni@flagshipconsulting.co.uk

About Flagship Consulting

Flagship Consulting is an award-winning corporate and brand public relations consultancy with expertise in areas including media relations, crisis management, social media, reputation building and event management.

With a proven track record of helping organisations of all sizes achieve their communications goals, Flagship prides itself on delivering creative campaigns that drive results and get people talking.

Established in 1999, Flagship has a 15-strong team of PR professionals based in London’s West End and a sister office at Flagship South West’s base in Exeter.

To find out more visit www.flagshipconsulting.co.uk.