Australians were typically trusting banks to look after their retirement, based on a perception of expertise, success and size.
Industry SuperFunds
The behaviour:
Our Strategy
Industry SuperFunds (ISFs) are not-for-profit funds that do not charge commissions, keep fees low and return all profits to members, which means on average members get a better return on investment than if their super was in a retail (bank) fund.
A fundamental belief: The best super is that run only to benefit members.
This ‘truth’ sits at the heart of all we do and continues today.
Core campaign objective: To maintain the health of the ISF brand to help funds grow and strengthen the value of super.
Over the 17 years, ISF’s marketing programme has been extremely consistent.
There have been several campaign evolutions to maintain freshness and engagement but it has consistently focused on three key pillars and priorities:
- The ISF Symbol – Emotional Connection
- ISF Performance – The Rational Benefit
- Defending and Strengthening the Value of Super
Campaign Pillars
Pillar One: ISF Symbol
ISF Brand Symbol – Boost the role that the Symbol plays in fund selection.
Uses the power of social norming explaining over 5 million workers are with an ISF.
Why 5 million? They know they’re better off because an Industry SuperFund is only run to benefit members.
The Industry SuperFund symbol is the hero – There’s only one symbol to look for.
‘The Hands’ – Members doing the Symbol gesture with their hands has become an extremely powerful branding device and asset.
Being such a feature of both Symbol and Compare the Pair campaigns, people do the hands symbol, unprompted with the mention of Industry SuperFunds.
Pillar Two: ‘Compare The Pair’
ISF Performance ‘Compare The Pair’ – Continue to demonstrate how ISF members are better off in retirement.
This pillar provides the more rational side focusing on the superior historic performance track record of Industry Funds Vs Retail Funds.
Our Compare the Pair campaign, now in its 17th year, has become truly iconic with the term being a regular part of Australian vernacular.
The newspaper article, in the image to the right, in the lead-up to the 2022 Federal Election in May is a typical example!
Pillar Three: The Value of Super
Highlight, defend and strengthen the value of super through increased community understanding.
We conduct campaigns to build the value in super amongst the community and defending members from any changes that could have an adverse impact on their retirement savings.
Several of these campaigns have influenced government policy and led to important legislative changes.
Some of these important milestones include:
- the banning of commissions on financial products,
- the commitment by governments to stick to legislated increases of the superannuation guarantee and
- helping solve unpaid superannuation.
Following are two campaign examples – Super Contribution Guarantee & Unpaid Super.
The change:
We inspired a movement of nearly 5 million Australians to trust ‘profit to member’ industry funds to provide a better, more dignified retirement.