Superannuation customer experience report Australia 2021
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Emma's experience shopping 🛍️ for a super fund
Emma Thompson is a female Australian, aged 23, making her a ✌ Gen Z. Emma is a fresh grad and taking her first job working for the Australian Federal Government.
Superannuation is a mandatory contribution for all Australian tax residents. Emma has been given two weeks to find a superannuation fund. If she does not come to a 🤔 decision, her contribution will default to the Commonwealth Superannuation Corporation.
In December of 2020, Emma set out to learn about superannuation and find a superannuation fund for her.
This is Emma’s experience.
key
learnings
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💡
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NO ONLINE CHAT
70% OF FUNDS DID NOT OFFER AN ONLINE CHAT, MAKING IT DIFFICULT FOR EMMA TO CORRESPOND LIVE DURING OFFICE HOURS.
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NO AFTER-OFFICE HOURS SUPPORT
BEING A FRESH-GRAD EMMA DID NOT HAVE THE FREEDOM TO MAKE PERSONAL CALLS DURING OFFICE HOURS.
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NO ONE LISTED ASSOCIATIONS
EMMA HAS NO BRAND AWARENESS OF SUPERANNUATION FUNDS. ASSOCIATIONS WITH FAMOUS PEOPLE OR BRANDS WOULD HELP EMMA BRIDGE THE GAP.
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NO ONE PUT VERIFIED CUSTOMER REVIEWS ON THEIR WEBSITE
EMMA HAD TO WORK EXTRA HARD TO FIND REVIEWS ON PRODUCTREVIEW.COM.AU + SUPERREVIEWS.COM.
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ENGLISH LANGUAGE ONLY
IN THE 2016 CENSUS, 4.9M AUSTRALIANS WERE REPORTED TO SPEAK A LANGUAGE AT HOME OTHER THAN ENGLISH.
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POOR PRODUCT MATCH
NOBODY OFFERED A DEDICATED PRODUCT PAGE AND FAQS THAT SPOKE TO EMMA.
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COVID-READY
PLAYERS WERE COVID-RESILIENT WITH EMMA EXPERIENCING HIGH SERVICE AVAILABILITY FROM 86% OF PLAYERS.
hot
stats
customer expiry (days)
verified reviews
avg firestarters
customer goals
value demonstrated
wow moments
emma is
likely to
go with the
default
super fund
01
During the friction test, we measured Emma’s experience choosing an Australian superannuation fund. In total, Emma contacted 📣 seven companies including Australian Super, QSuper, Aware, Unisuper, Colonial First, Commonwealth Superannuation Corporation (CSC), and Spaceship.
02
Choosing a super fund is one of the biggest financial decisions Emma 😲 will make in her lifetime. Despite the deep pockets these super funds possess Emma’s experience finding a super fund was fraught 💥 with friction.
03
Emma was confused, exhausted, and unconvinced ⛔ by the options available. She is likely to abandon her goal of finding the best super fund and go with the default super fund (CSC) provided by her employer.
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👍
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3.8
BEST SCOREQSUPER PRESENTED 👍 THE LEAST FRICTION. QSUPER IS THE LEADER AND 49% MORE EFFECTIVE THAN ITS NEAREST RIVAL, AUSTRALIAN SUPER.
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👎
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7.6
WORSE SCORESPACESHIP PRESENTED EMMA WITH MASSIVE BURNS. SPACESHIP NEAREST RIVAL IS AWARE SUPER.
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🤫
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6.1
AVERAGETHE INDUSTRY AVERAGE IS 6.1 POINTS. THIS SUGGESTS THE INDUSTRY HAS A LOT OF 🤫 ROOM FOR IMPROVEMENT.
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