Some good responses, thank you. Should have mentioned my basic calculations were for the 12 month period, so halving my numbers is fine.
The most important comment you put forward was about the lack of new ideas.
With a rough assumption that there could be potentially 16,000,000 people that are working (about 2/3 of the 24 million people), that represent our total superannuation market. We have 41,500 customers or 0.26% of the market. I would have thought we should be capturing at least 2% of the market or 320,000 and the time frame for that target would clearly be a moderate to long term target. We are getting 6 to 7 thousand new members a year. That’s really slow and in 10 years time we will have 100,000 and I will be in a vegetative state in a nursing home by the time they get to 200,000.
Clearly our target is the young people. We know they are more conscious of the issues or planet faces. I would think that the social media approach has been great but we need to compliment it. Great places to preach our story is at universities as the more professional type of worker is likely to invest there and embark on a working life. Secondary schools could be done but the impact is much lower, but greater number of people. How to reach this audience in a different and novel way is the tough issue. At universities students nearing transition to work and planting the idea of an investment with us is near the ideal time. So I think we need to be present in the job search websites. We have to part with money for the advertising space because I think this is where the serious traffic of employable people will view. A good time to change super would be when you change jobs. It could reach the school kids, uni students starting work and the many thousands of people making their umpteenth job change. Ads should have bold simple statements....like “ starting a new career? Try starting your new investment into a better future.” Similarly for those changing their job, the pitch is similar “changing your career path? Consider changing your superannuation with AE for great returns and a better world.” This is the place to strike the message as people are thinking job, money, future, changes, setting themselves with a new path in life etc.
I have to check what is on these sites, some might not allow advertising, some might be cluttered with other financial investment type messages.
AEF Price at posting:
$157.50 Sentiment: Buy Disclosure: Held
