New research by CoreData shows super fund members consider TV advertising one of the least preferrable means of communication.
A CoreData study – which canvassed 858 Australians – found 51.2 per cent of respondents had seen a TV ad for super funds in the past 12 months, according to a statement from the company.
However, when asked to rate their preferred communication channels, respondents ranked television second last and gave it an average score of 1.1 out of 10.
CoreData head of financial services Kristen Turnbull said television could help raise awareness but was a poor means of spreading a message.
“Splashing your brand on the TV might be cutting through to members in terms of awareness but it is not an engaging communication tool for members, who would much prefer to hear from their fund via email,” she said.
The statement suggested super funds need to “think beyond TV advertising and sponsorships in order to grow their membership base as well as lift the industry’s profile.”
Ms Turnbull recommended super funds focus on creating a public face in the media.
“Apart from tailoring their communication and marketing strategies to the channel preferences of their members, funds should consider putting a face to their name by providing economic and investment commentary on the news, just like banks and other financial institutions do,” she said.
“This is something that close to two in three (65.1 per cent) of respondents would like to see from super funds."
Salaries for experienced advisers are expected to rise by more than 20 per cent ...
Adviser numbers could drop to as low as 15,000 by the end of 2021 if more practi...
Retail and ethical funds are among the top balanced funds in 2020’s super perf...