Trillion dollar superannuation industry finally able to measure brand investment

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21 May, 2008 Super funds given ability to measure investment in marketing. SuperRatings partners with brand expert evolution media to rate brand value of superannuation funds. Sydney: The trillion dollar superannuation industry will finally be able to measure the effectiveness of its investment in brand and marketing with the launch of research by Australia’s leading superannuation ratings body SuperRatings and branding expert evolution media. May 21, 2008 Super funds given ability to measure investment in marketing SuperRatings partners with brand expert evolution media to rate brand value of superannuation funds Sydney: The trillion dollar superannuation industry will finally be able to measure the effectiveness of its investment in brand and marketing with the launch of research by Australia’s leading superannuation ratings body SuperRatings and branding expert evolution media. SuperRatings and evolution media have joined forces to assess the success of superannuation funds in using brand to drive fund membership and engagement within their member bases. Jeff Bresnahan, managing director of SuperRatings, says in a climate where investment returns are diminishing, and where super choice has made competition between funds fierce, it has never before been more important for a marketer to be able to prove that their retention and acquisition strategies are working. “Both superannuation fund boards and marketing teams will, for the first time, be able to measure their brand’s value in the highly competitive superannuation marketplace, together with the return they’re receiving from their investment in brand development,” said Mr Bresnahan. The comprehensive survey will look at all aspects of a super fund’s brand, including marketing spend, how it is allocated and details on how the funds engage with their members. The research will also cover how funds are using the internet and other new media to communicate their brand message. Fund members will be surveyed on how their fund communicates with them and whether the messages they see about superannuation are relevant to their lives and situations, financial and otherwise. Vanessa Stoykov, chief executive of evolution media said the research will give us tangible values to apply to what has, until now, been intangible. “Super funds will be able to determine how fund members feel about their fund and how effectively marketing budgets are being spent.” “The superannuation industry is a trillion dollar industry, yet still has consumer brands in their infancy. Some funds are already pulling ahead of the competition with their investment in brand. It will be interesting to see how the research presents this investment.” For those that are still developing their brand, the research will plot individual funds on a marketing matrix to show the areas in which they excel and others aspects which they can improve. According to statistics from superannuation clearinghouse SuperChoice, 12.2 per cent of Australians are not in their employer’s default fund, with a significant proportion of this percentage making a conscious decision about which super fund they belong to. Approximately 4 per cent of Australians are now switching funds each year, up from 2 per cent when Super Choice was introduced three years ago. Mr Bresnahan says: “This initiative brings the superannuation industry into a new phase, a new phase for marketing managers, and a new ability for boards to actually understand better where their money is going. Fund membership is actually slowing, and in some cases going backwards. Funds need to look much closer at their marketing.” SuperRatings and evolution media will launch the research with two luncheons in Sydney and Melbourne on 12 and 13 June respectively, in which they will discuss the methodology and frequency of the research. ENDS To see Jeff Bresnahan and Vanessa Stoykov discuss the partnership and the branding issues superannuation funds face, go to www.evolutionmedia.com.au and visit the press room. For more information, interviews or pictures please contact: Sally Robards evolution media p: 02 8969 6077 m: 0431 932 198 e: <script type="text/javascript"> //<![CDATA[ var l=new Array(); l[0]='>';l[1]='a';l[2]='/';l[3]='<';l[4]=' 117';l[5]=' 97';l[6]=' 46';l[7]=' 109';l[8]=' 111';l[9]=' 99';l[10]=' 46';l[11]=' 97';l[12]=' 105';l[13]=' 100';l[14]=' 101';l[15]=' 109';l[16]=' 110';l[17]=' 111';l[18]=' 105';l[19]=' 116';l[20]=' 117';l[21]=' 108';l[22]=' 111';l[23]=' 118';l[24]=' 101';l[25]=' 64';l[26]=' 115';l[27]=' 100';l[28]=' 114';l[29]=' 97';l[30]=' 98';l[31]=' 111';l[32]=' 114';l[33]=' 115';l[34]='>';l[35]='\"';l[36]=' 117';l[37]=' 97';l[38]=' 46';l[39]=' 109';l[40]=' 111';l[41]=' 99';l[42]=' 46';l[43]=' 97';l[44]=' 105';l[45]=' 100';l[46]=' 101';l[47]=' 109';l[48]=' 110';l[49]=' 111';l[50]=' 105';l[51]=' 116';l[52]=' 117';l[53]=' 108';l[54]=' 111';l[55]=' 118';l[56]=' 101';l[57]=' 64';l[58]=' 115';l[59]=' 100';l[60]=' 114';l[61]=' 97';l[62]=' 98';l[63]=' 111';l[64]=' 114';l[65]=' 115';l[66]=':';l[67]='o';l[68]='t';l[69]='l';l[70]='i';l[71]='a';l[72]='m';l[73]='\"';l[74]='=';l[75]='f';l[76]='e';l[77]='r';l[78]='h';l[79]='a ';l[80]='<'; for (var i = l.length-1; i >= 0; i=i-1){ if (l[i].substring(0, 1) == ' ') document.write("&#"+unescape(l[i].substring(1))+";"); else document.write(unescape(l[i])); } //]]> </script> Stefanie Hubel evolution media p: 02 8969 6077 m: 0404 329 424 e: <script type="text/javascript"> //<![CDATA[ var l=new Array(); l[0]='>';l[1]='a';l[2]='/';l[3]='<';l[4]=' 117';l[5]=' 97';l[6]=' 46';l[7]=' 109';l[8]=' 111';l[9]=' 99';l[10]=' 46';l[11]=' 97';l[12]=' 105';l[13]=' 100';l[14]=' 101';l[15]=' 109';l[16]=' 110';l[17]=' 111';l[18]=' 105';l[19]=' 116';l[20]=' 117';l[21]=' 108';l[22]=' 111';l[23]=' 118';l[24]=' 101';l[25]=' 64';l[26]=' 108';l[27]=' 101';l[28]=' 98';l[29]=' 117';l[30]=' 104';l[31]=' 115';l[32]='>';l[33]='\"';l[34]=' 117';l[35]=' 97';l[36]=' 46';l[37]=' 109';l[38]=' 111';l[39]=' 99';l[40]=' 46';l[41]=' 97';l[42]=' 105';l[43]=' 100';l[44]=' 101';l[45]=' 109';l[46]=' 110';l[47]=' 111';l[48]=' 105';l[49]=' 116';l[50]=' 117';l[51]=' 108';l[52]=' 111';l[53]=' 118';l[54]=' 101';l[55]=' 64';l[56]=' 108';l[57]=' 101';l[58]=' 98';l[59]=' 117';l[60]=' 104';l[61]=' 115';l[62]=':';l[63]='o';l[64]='t';l[65]='l';l[66]='i';l[67]='a';l[68]='m';l[69]='\"';l[70]='=';l[71]='f';l[72]='e';l[73]='r';l[74]='h';l[75]='a ';l[76]='<'; for (var i = l.length-1; i >= 0; i=i-1){ if (l[i].substring(0, 1) == ' ') document.write("&#"+unescape(l[i].substring(1))+";"); else document.write(unescape(l[i])); } //]]> </script> NOTES TO THE EDITOR: About SuperRatings SuperRatings is considered the leading source of superannuation information, fund comparisons and fund ratings with research covering over 300 of Australia’s largest superannuation products. SuperRatings is a wholly independent Australian company that is not biased by advertisements. Its research affects almost 10 million Australian superannuants and close to $500 billion of Australians’ money. For more information visit www.superratings.com.au About evolution media evolution media is a BRW Fast 100 company and provides strategy, communications, digital and creative services to financial services organisations, both in Australian and globally. evolution media is in its ninth year of operations and works with both business and consumer focused organisation such as ANZ Bank, Fidelity Investments and other major super funds. For more information visit www.evolutionmedia.com.au http://www.evolutionmedia.com.au/index.php/144/