The Importance of Customer Experience in the Superannuation Industry

Superannuation image

The superannuation industry is a highly competitive one and it’s important to differentiate yourself from your competitors if you’re going to keep customers and bring in new business at the same time.

This can be challenging when you’re already trying to keep up with regulatory changes, against increased competition from other financial and banking institutions and the challenges of new technology. How do you find the time to market yourself and take care of your customers’ needs amongst everything else?

One area that is often overlooked by organisations is customer experience. Building a brand that excels in customer experience is one of the best and most effective ways to drive customer retention and brand loyalty, which will in turn grow your super fund.

Churn rates are often high in the superannuation industry and this is why it’s so important to focus on providing an excellent customer experience. If you can keep your existing customers, you can build a solid base to act as a platform for future growth and expansion.

A few tips to help you create a great customer experience

Here are a few suggestions to help you create a great experience for your customers by meeting and exceeding their expectations:

  • Integrate your digital platforms to provide a seamless experience across different channels and devices. Customers want to be able to use their tablet, mobile and desktop computer to manage their account. By providing them with systems that enable them to do this, and switch between devices in the process, you’ll be providing them with a fantastic experience they won’t easily give up.
  • Responsive customer service. Whatever platform your customers use to get in touch with you, make sure you are there and respond quickly and effectively to their requests or comments. When they see that you are invested in providing them with a good quality of experience this will go a long way to gaining their trust and loyalty.
  • Provide your customers with relevant information. Giving your customers up to date information that’s useful to them is a great way to differentiate yourself and build long lasting relationships with them.

While it does take some effort and time to create a great customer experience it’s well worth your while if you want to build a strong base of customers and truly differentiate your superannuation fund from the rest.

Want to learn more about creating a great customer experience for your fund members? Download our full e-book today.

About Cameron Smith

Cameron Smith is the CEO of CoTé Software & Solutions; Innovative digital minded individual with over eighteen years experience in Financial Services, Insurance and domestic construction and Multi-channel Communication. Strong digital background, with diverse executive experience in running organisations and team, whilst implementing technology strategies. Expertise in business transformation, organisational strategy and leveraging technology to provide outstanding client experiences.