QSuper has topped the superannuation industry in generating more member recommendations as well as greater member value and satisfaction, a new study has found.
For the second time QSuper, who has recently opened its doors to all, was awarded Australia’s most recommended superannuation brand in the 2018 Superannuation Consumer Loyalty and Recommendation Study, conducted by Engaged Strategy.
QSuper achieved the highest score of positive 35 per cent, with the next best brand achieving only negative 3 per cent. The industry as a whole achieved an average of negative 12 per cent, with the worst performing brand scoring a Net Promoter Score of negative 30 per cent.
These results say a lot for such an important industry. And speaks volumes for QSuper.
Almost half of QSuper’s respondents were Promoters for the brand, which is a testament to their consistent high performance across the board in an industry known for low customer involvement.
Engaged Strategy’s Managing Director, Christopher Roberts, said “QSuper’s result was particularly important given 23 per cent of all survey respondents said they chose their superannuation brand based on a recommendation from a family member, friend or colleague.
“What these results mean is that QSuper is in a stronger position than their competition to leverage the power of word-of-mouth to drive sustainable organisational growth. This is pivotal now everyone is able to join QSuper,” he said.
Engaged Strategy conducted the study where more than 1700 Australians were surveyed using the Net Promoter Score framework, in conjunction with customer experience, loyalty and brand metrics.
Nine of Australia’s largest super brands were assessed in this survey, including loyalty leader QSuper, AMP, Australian Super, Colonial First State, First State Super, Hesta, HostPlus, REST, and Sunsuper. Self-managed super funds were also included in the survey via an amalgamated analysis.
The full version of the 2018 Superannuation Consumer Loyalty & Recommendation Study is available within Engaged Strategy’s Intelligent Industry Analytics.
Engaged Strategy is a strategic consultancy that focusses on helping businesses grow by developing fresh customer, marketing and organisational strategies. Christopher Roberts is an Industry Fellow at the University of Queensland, Australia.
Net Promoter, NPS and Net Promoter Score are trademarks of NICE Satmetrix Systems Inc., Bain & Company and Fred Reichheld.
To find out more about the Intelligent Industry Analytics please click here. If you would like to speak with an Engaged Strategy team member, please contact:
(07) 3245 7372