A STRATEGIC ANALYSIS OF HOW ELECTRONIC WORD-OF-MOUTH (EWOM) AFFECTS ACCOUNTING FIRMS

The emergence of digital platforms has brought about a significant transformation in the way businesses interact with their target audience, underscoring the significance of Electronic Word of Mouth (eWOM). The impact of electronic word-of-mouth (eWOM) on accounting firms is examined in this paper, with a focus on how it influences the firms' overall performance, client acquisition, retention, and brand reputation. This research highlights the advantages and disadvantages that eWOM offers to these companies through a survey of previous research and case studies. The term "eWOM" refers to the public perception-shaping activities on social media, including online reviews and ratings. eWOM is essential for accounting firms because they place a high value on reputation and trust. Good internet reviews strengthen a company's reputation, draw in new business, and increase client retention by fostering a sense of trust. Negative reviews, on the other hand, can harm a business's reputation and result in lost business and income. The study demonstrates that companies that have strong positive eWOM experience a rise in client inquiries and revenue, whereas companies that have negative eWOM experience difficulties such as decreased client acquisition and profitability. In order to effectively manage electronic word-of-mouth (eWOM), one must not only promote positive reviews but also promptly and professionally handle negative feedback. Ensuring eWOM authenticity is another important issue; businesses should refrain from unethical actions like posting fictitious reviews. Rather, the preservation of trust requires sincere client feedback and open communication. In conclusion, accounting firms must grasp the dynamics of electronic word-of-mouth (eWOM) and apply strategic management practices in order to capitalize on its advantages, improve their position in the market, and experience long-term growth. Subsequent investigations ought to concentrate on the enduring consequences of electronic word-of-mouth (eWOM) and inventive approaches to its handling within the accounting sector