SW Accountants & Advisors is a large, full-service advisory and accounting firm with clients from a diverse range of domestic and international companies. The firm has offices in Brisbane, Sydney, Melbourne, and Perth, led by 42 partners and 400 staff.
SW engaged Beaton Benchmarks to better understand its brand position and the likelihood that clients would consider using the firm over key competitors (consideration). The firm receives annual feedback data through Benchmarks and consistently implements report recommendations.
As a result, SW has lifted brand ratings and client satisfaction across multiple key performance indicators while enjoying a positive return on investment through targeted marketing campaigns. Additionally, the firm has maintained its already strong reputation and client experience among existing clients.
SW Accountants & Advisors is an independent, Australian-owned accounting and advisory firm with an 85+ year history. Its team includes more than 400 people, operating nationally from offices in Brisbane, Melbourne, Perth and Sydney.
Website
Industry
Accounting and consulting
Organisation size
201-500 employees
Key outcomes:
- SW’s Net Promoter Score (NPS) improved to 52 per cent promoters and just 14 per cent detractors
- Overall client service ratings increased every year for five years from 7.5 to 9.3 out of 10
- The firm has been a finalist for seven consecutive years across multiple categories in the Client Choice Awards
SW Accountants & Advisors’ experience with Beaton Benchmarks
Challenge:
SW was founded in 1935 and has a rich history of delivering accounting advice to Australia and globally across many sectors. However, during that time it has evolved and undergone several name changes – from Moore Stephens Melbourne to ShineWing Australia in 2015, and in 2021, to SW Accountants & Advisors. When the firm reached out to Beaton, it was challenged by a lack of brand awareness among clients resulting from the most recent rebrands.
Previous marketing efforts had been moderately successful in raising brand awareness. However, the firm was unable to truly understand its market position without large-scale client feedback data. SW previously did not have an independent and objective way to gauge the success of marketing investments and had not monitored client sentiment over multiple years on an annual basis.
The firm was seeking data to conclusively determine its brand position and indicate how much or what kind of marketing might be needed to improve that position. It sought evidence-based guidance on where to direct investments, utilising feedback collected independently by a third party (Beaton) to maximise clients’ honesty and objectivity.
“I had used Beaton Benchmarks when in similar roles at other firms and understood the advantage of being able to track brand and consideration in particular. Joining a new firm that had changed brands, I knew it would be imperative to start benchmarking this to better understand our position over time. I was also keen to share independent research with the partners regarding client service and NPS.”
Solution:
SW has been a regular participant in the Client Choice Awards. These annual awards are free to enter and are the only professional services awards in the world that determine winners based on client feedback rather than judging panels or industry experts. Entrants have the opportunity to receive a highly regarded accolade and access Beaton Benchmarks annual feedback data and reporting.
SW opted to not only enter the awards but also purchase Beaton Benchmarks reports annually. Over multiple years, it monitored brand awareness and consideration carefully, alongside other key areas like client service ratings and net promoter score (NPS). While the data showed loyal clients rated SW highly and believed it was a strong brand, the firm noticed a drop in brand awareness. That had impacted consideration over time, signalling a need for more investment in marketing to improve awareness.
Sharing Beaton Benchmarks data with the firm’s executive leadership team helped the marketing team earn support for greater investment to improve brand awareness. Individuals’ verbatim feedback detailed what clients felt was missing from SW’s marketing outreach. Once the firm had responded with investment to improve these areas, annual benchmarking reports provided updates on how the firm’s position was changing in clients’ eyes.
“We use most aspects in reporting to the Executive and Board and the wider partner group. We share some information with all our firm to highlight how well we are doing in relation to key areas such as client service, what clients are looking for and how these trends have changed over time … We also use it within our tender responses to demonstrate our capability rather than simply assert it.”
Key features utilised
- Net Promoter Score (NPS) tracking over multiple years
- Verbatim comments in survey responses to illustrate detail in data
- Brand awareness and consideration ratings from thousands of clients annually
- Buyer cycle analysis
- Third-party benchmarking by Beaton, reducing possible bias from respondents
- Ability to break down by service sector and other metrics, or alternatively be scored against the broader professional services market and other professions, not only limited to accounting
Outcome:
With Beaton Benchmarks as the guiding evidence, SW developed a large-scale advertising campaign to improve brand awareness that has seen excellent results early on. The firm continues to monitor annual benchmarking reports to understand how that awareness is changing and improving in response to marketing efforts.
On a broader scale, the firm utilises data from annual Beaton Benchmarks reports to develop and support its brand framework, support an international rebrand, and drive major public awareness campaigns. It uses Beaton Benchmarks to identify improvement opportunities in all business areas, guiding business development and learning and development programs.
The results of these efforts are evident in SW’s recent Client Choice Awards results. The firm has been a finalist for seven consecutive years to 2024. It continues expanding in international markets and strategically growing its client base while maintaining outstanding relationships with existing clients.
“Beaton is at the forefront of client data related to the world's most dynamic professional services landscape. The team always strives to delve deeper into areas that can provide us insights to support our strategic agenda, whether that be brand or growth pertaining to pricing in certain markets.”
Actionable client feedback and tailored benchmarking
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