Friday, 7 November 2014
QSuper has beaten its industry and retail superannuation brand counterparts in generating more member recommendations and greater member value and satisfaction, a new study has found.
QSuper, available to current and former Queensland Government workers and their spouses, topped the 2014/15 Superannuation Benchmarking Study of the most popular super brands.
The study was conducted by Engaged Strategy and surveyed more than 3,720 Australians under the Net Promoter Score framework.
While QSuper attained the highest score, the industry as a whole achieved an average of negative 29%. The worst performing brand scored a Net Promoter Score of negative 53%.
QSuper also achieved the highest score of any brand across all key attributes, including overall value, investment performance, fees, overall customer services, overall insurance coverage, access to quality financial advisors, website and financial seminars.
Engaged Strategy Managing Director Christopher Roberts said QSuper was the stand-out performer among super brands in an industry renowned for low customer engagement.
“The result is a testament to how they have been able to differentiate themselves and demonstrate their value to members, something many other super brands continue to struggle with,” he said.
Mr Roberts said QSuper’s result was particularly important given 23% of all survey respondents said they chose their super brand based on a recommendation from a family member, friend or colleague.
“What these results mean is that QSuper is in a stronger position to harness the power of word-of-mouth, which is even more potent in the super industry given recommendations appear to be few and far between,” he said.
Twelve of the largest Australian super brands were assessed in the survey, including the loyalty leader QSuper as well as AMP, Australian Super, BT, Colonial First State, First State Super, Hesta, HostPlus, MLC, OnePath, REST, Sunsuper, in addition to an amalgamated analysis of self-managed super funds.
Engaged Strategy is a strategic consultancy that focusses on helping businesses grow by developing fresh customer, marketing and organisational strategies. Engaged Marketing is an approved Net Promoter Score Loyalty Partner. 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.
For more information, please contact:
07 3245 7372