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Deloitte Powers On In Social Media, But Australian Companies Lag

Deloitte Powers On In Social Media, But Australian Companies Lag


Nita Teoh,
August 5, 2010

Social media is proving to be a powerful force on the business front. And it has been used in multiple ways by innovative companies, as in building a company’s brand, increasing engagement with partners, customers and employees, as also to recruit talent and manage external public relations.

However, Deloitte finds that in Australia, Australian companies appear to be lagging behind in their use of social media space.

According to Katherine Milesi, partner of Deloitte’s Online Practice in Australia, “We recently conducted a straw poll of a small group of company directors of the top 200 ASX companies about their awareness of social media. Very few knew much about it. Only one from a group of ten said it was a topic of discussion in the boardroom, yet there was unanimous agreement it should be.”

“The key stumbling point for many organisations is their reluctance to relinquish control. Yet what they fail to realise is that this is happening already. People form impressions of organisations through a myriad of sources, including an array of social media vehicles. Gone are the days when the annual report, the website, the ad campaign, the PR campaign and the AGM were the key image shapers for an organisation.”

Deloitte itself presents best practices on how companies can effectively promote a company brand and engage with others through social media.

Deloitte recruits through the use of YouTube, Facebook, Twitter and LinkedIn and it is not uncommon practice for employees to post a YouTube video or two to share their experiences about working at Deloitte. What better approach than to provide job seekers with an insider perspective on working at a Big Four firm.

On the Twitter front, recent tweets broadcast news of the upcoming Deloitte Quarterly CFO survey. The company also maintains an active presence on Facebook. It’s not all about numbers, as conversations fly through cyberspace about the Deloitte fantasy football competition or the use of simulation games in solving Government budgetary woes.

Deloitte holds a commanding presence online through its use of multiple social media channels. And it’s time for Australian companies to realize the power of social media, catch up and leverage its power for their own businesses.

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