Becoming fit for a forced consolidation: First State Super
First State Super (FSS) were in the overcrowded superannuation market, faced with forced consolidation. A top 3 fund with over 780,000 members, but with a lack of differentiation in terms of brand, positioning, culture or offering, FSS needed a strategy that would prepare them for the new highly competitive environment and ensure long term growth of the member base.
Brand Council was engaged in 2012 just before the Health Super merger to provide board and executive level guidance on the transition to a national, consumer driven fund. This included brand architecture, brand strategy, culture transformation, and inculcation of the brand and culture throughout the organisation.
Building on internal and external research Brand Council prepared a strategy to compete with industry and retail funds, and to develop a unique and compelling brand that has helped them become a more appealing, nimble and progressive organisation. As part of this strategy Brand Council managed the development and implementation of the new brand identity (with creative partner PDC), as well as the development of internal culture alignment including the M.E.M.B.E.R behaviour program and inculcation throughout the organisation (reviews, R&R scheme, recruitment and on-boarding).
With the help of Brand Council, First State Super have undergone a total transformation, developing every part of the business to be truly member focused. They are now a very strong brand within a highly competitive sector, setting them up for the next stage of growth.
“Putting members first in everything we do is a fundamental part of this culture and it firmly underpins our position as a leading providerof superannuation, retirement and financial advice services”
Neil Cochrane, Chairman of First State Super (first page of annual report 2014-2015)
Creative partner – PDC Creative