Australia’s 17 million active Facebook users spend on average 1.4 hours a day liking, commenting and sharing stories with family and friends. Moreover, with roughly 17% of the earth’s population being active users of Facebook Messenger, there is irony in the fact that the smartphone generation is spending more time engaging on Facebook rather than thinking about their future financial readiness.
Mercer’s SuperBot provides the missing piece to engaging the smartphone generation by providing the ability to project a person’s super balance to retirement and converting it to an achievable retirement income. Accessed through Facebook Messenger, SuperBot represents the ultimate opportunity to scale financial advice across a very large proportion of the population.
According to Cambell Holt, Mercer Pacific’s Chief Customer Officer, roughly 80% of Australians do not seek financial advice due to many factors, but in the case of millennials it often comes down to not speaking their language.
“If the industry wants millennials to engage with their superannuation and retirement strategies we need to speak their language across the media they relate to,” says Mr Holt. “We need to deliver an experience that demystifies superannuation and empowers customers to engage and interact with super on their own terms, anytime and on any device.”
“With millennials expected to account for two-thirds of the Australian workforce by 2025, it is essential we employ new technologies to increase members’ engagement with their retirement. Millennials are digital natives and expect the convenience of being provided financial advice about superannuation in a format and medium that suits them.”
“Through enhanced member engagement, more customers are setting up salary sacrifices, consolidating, making informed decisions and actively engaging with our financial advice. Overall, this means they’re heading for a better retirement,” says Mr Holt.
To remain relevant and grow into the future, super funds need to find new ways to efficiently and effectively manage customer relationships and create value. Mercer’s approach using artificial intelligence and social media provides not only a deeper engagement with members and what they might want on any given day, but also a richer understanding as to how to deliver that value-add experience.
For a demonstration of Superbot and Mercer’s latest technology, please contact your Mercer representative today.
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