2013 05-01 social media scorecard - audit canada

Audit Industry (Canada) Social Media Score Card and Industry Maturity May 1, 2013

Table of Contents

1. Purpose of Report2. Research Methodology 3. Report Summary & Highlights 4. Social Media Score Card5. Social Media Industry Maturity6. Rank by Social Media Platform 7. About Base22

2 © Copyright 2013 Base22 Canada

Purpose of Report

The purpose of this report is to understand how organizations are effectively using social media relative to their peers in the same industry. In addition, assessing the adoption of social media within an industry will also measure the maturity of the market segment in their use of these emerging communication channels.

Corporate expenditures for traditional media such as print, radio, and television are rapidly declining as the acceptance of social media becomes more mainstream within the business communities. Companies need to realign their talent recruitment, marketing and communications strategies by targeting their prospective employees, customers, and business networks who are increasing their online activities on the social platforms.

The industry assessment looks at the social profiles for Canada’s top 6 Audit firms with the addition of others randomly chosen based on The Bottom Line Canada’s Accounting Top 301

published April 2013. The national Audit industry ranking is indicated in this report within brackets after the firm’s name.

1 Source: http://www.thebottomlinenews.ca/documents/Canadas_Accounting_Top_30.pdf


Research Methodology

Our research methodology analyzes data from the four most popular and largest social media networks: Twitter, LinkedIn, YouTube and Facebook.

• Twitter, with over 700 million accounts, was assessed because of its potential use for mass communications to drive market presence, brand awareness, and customer engagement.

• LinkedIn has quickly become important for business development, talent recruitment, brand messaging, and brand advocacy by employees and customers.

• YouTube, with its reputation for spawning viral videos, is increasing its importance as a social channel to distribute rich video messaging such as thought leadership, subject matter expertise and industry knowledge.

• Facebook, with over 900 million registered accounts, has become the primary channel to drive customer loyalty, brand advocacy, and consumer engagement.

The methodology consists of assessing a minimum of 15 publicly available data elements across all four social media platforms. Each data element for each company is rated and ranked. A normalized and final balanced scorecard for each company is calculated and ranked in comparison to their peers in the industry.


Report Summary – Audit Industry (Canada)


Early Adopters Deloitte continues to lead the Canadian Audit industry with their balanced social footprint and digital strategy. Deloitte, ranked #1 on all social platforms, focuses on their social networks with the integration of their channels to provide a richer and targeted customer engagement experience and an online social media presence.

Early Majority KPMG, PwC, and BDO have good initiatives but tend to focus on one or two social media platforms. If these firms would tightly integrate their campaigns across all social channels, they will have a stronger and more balanced social footprint and online engagement.

Late Majority Grant Thornton, Crowe Soberman, Collins Barrow, and Ernst & Young have an ‘awareness’ for the need of a social media presence. They have established a basic profile but need to develop an integrated and balanced social and content strategy to increase their online presence, social influence, and customer engagement.

Laggards DJB, Zeifmans, MSCM, RLB, and MRR continue to assess the benefits of social media and do not see the urgency to provide a online engagement with their customers, etc. Companies in this category will continue to fall further behind their industry peers and will have a challenge to establish a competitive social footprint as the industry adoption for these increasing mainstream channels mature in the next 12 to 18 months.

Report Highlights – Audit Industry (Canada)

Deloitte (1) continues to be the leader in the Canadian Audit industry with their well balanced use of social media. Ranked as Canada’s #1 Audit firm by The Bottom Line publication (April 2013), Deloitte is also ranked #1 in their use of Twitter, Facebook, LinkedIn, and YouTube for their industry peer group.

In the last 24 months, there were several notable observations for social media adoption in the Canadian Audit industry. All top 3 firms, Deloitte (1) / KPMG (3) / PwC (2), have increased their social presence while their respective industry rankings remained consistent. BDO (6) continues to maintain the 4th position while Grant Thornton (5) holds onto 5th. With the increase in the report’s sample population by adding several mid-size firms to this assessment, Ernst & Young (4) has dropped from a previous 6th position down to 8th while being surpassed by two mid-sized firms, Crowe Soberman (13) and Collins Barrow (8).

For Canadian Audit firms to maintain a competitive edge by providing a differentiator for industry thought leadership and knowledge expertise, the Audit industry will have to look at creative and compelling opportunities for the use of social to broaden their market & communications reach.

Meanwhile, social media will continue to have an increasing presence in the industry for customer engagement, brand advocacy-promotion, and talent acquisition-retention. Firms who fail to capitalize on these social opportunities will isolate themselves from an emerging workforce and a socially engaged generation as they leave academia to embark on their professional careers.


Report Highlights – Audit Industry (Canada)


Canadian Audit Firm Rank May 2013 Rank Dec 2011 Net Change

Deloitte (1) 1 1 0

KPMG (3) 2 2 0

PricewaterhouseCoopers (2) 3 3 0

BDO Canada (6) 4 4 0

Grant Thornton (5) 5 5 0

Crowe Soberman (13) 6 N/A -

Collins Barrow (8) 7 N/A -

Ernst & Young (4) 8 6 -2

Durward Jones Barkwell (25) 9 N/A -

Zeifmans (22) 10 N/A -

MSCM (26) 11 N/A -

RLB (30) 12 N/A -

Millard Rouse & Rosebrugh (21) 13 N/A -

Deloitte (1)

KPMG (3)

PwC (2)

BDO Canada (6)

Grant Thornton (5)

Crowe Soberman (13)

Collins Barrow (8)

Ernst & Young (4)

Durward Jones Barkwell (25)

Zeifmans (22)

MSCM (26)

RLB (30)

Millard Rouse & Rosebrugh (21)

Social Media Score Card – Audit Industry (Canada)


LEADING LEADING

AWARE AWARE AWAREAWARE



AWARE AWAREAWARE

AWAREAWARE

AWARE AWARE

AWARE

ENGAGED


AWARE AWAREAWARE



LEADING LEADING

ENGAGEDENGAGED ENGAGED

AWARE

Social Media Industry Maturity – Audit Industry (Canada)


ENGAGEDENGAGED

AWAREAWARE

LEADINGLEADING

Laggards Late Majority Early Majority Early Adopter

Exploring – 1 or no presence and limited customer engagement

Emerging – 2 or more presences with minimal customer engagement

Socializing – 3 or more presences with some customer engagement

Leading – 4 or more presences with integrated social footprint & customer engagement

Rank by Social Media Platform – Audit Industry (Canada)

Canadian Audit Firm Rank Twitter Facebook LinkedIn YouTube

Deloitte (1) 1 1 1 1 1

KPMG (3) 2 2 4 3 4

PricewaterhouseCoopers (2) 3 3 2 7 2

BDO Canada (6) 4 5 3 2 5

Grant Thornton (5) 5 7 10 4 3

Crowe Soberman (13) 6 6 5 6 7

Collins Barrow (8) 7 8 6 5 6

Ernst & Young (4) 8 4 7 9 8

Durward Jones Barkwell (25) 9 11 12 8 9

Zeifmans (22) 10 9 8 12 11

MSCM (26) 11 12 9 10 12

RLB (30) 12 13 13 11 10

Millard Rouse & Rosebrugh (21) 13 10 11 13 13


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About Base22

© Copyright 2013 Base22 Canada

Edward Wong MBA

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Edward is a Partner and co-founder of Base22 Canada. As a former KPMG, Deloitte, PricewaterhouseCoopers and IBM professional, Edward has over 18 years of business and technology consulting experience. Edward has held senior management and strategic leadership positions at his previous companies. Edward brings with him a diverse set of practical skills and client experiences ranging from audit/tax, Enterprise Resource Planning, enterprise portals, content management, social enterprise transformation, social analytics and industry market research.

Edward developed the Social Enterprise Theory, methodology, and framework. These intellectual assets and thought leadership will enable organizations to quickly and cost effectively adopt social technologies from a strategic position but with manageable tactical execution to realize faster entry into the social business and social media platforms. Edward’s industry experiences include Banking, Pharmaceutical, Retail, Petroleum & Chemical, Government, and National Defense.

fastersmarter.biz @base22canada [email protected]

© Copyright 2013 Base22 Canada

2013 05-01 social media scorecard - audit canada

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