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Why niche super funds are on the rise


2 years ago

2 years ago


Niche super funds are slowly gaining popularity amongst everyday Australians as they better reflect their economical, social, environmental, and political values. Finding a niche in any finance sector can be a great advantage as you can generate meaningful leads by catering to specific problem areas in certain communities. This mentality is the same for super funds. By defining a niche market sector, super funds are able to attract interested investors and build trust and loyalty by addressing their key concerns. The success of the first Islamic super fund, Crescent Wealth, and the ethical super fund, Future Super, are testament to the importance of targeting specific market segments. So, how are they marketing themselves and what can finance brands learn?

Niche super funds that are doing it right

Niche super funds offer clients a more transparent way of investing their money. Super funds like Future Super and Crescent Wealth have defined their branding by how they invest clients’ money, identifying specific areas and industries they won’t invest in. Transparency is king with 53% of people being more likely to consider brands that are transparent and 94% of consumers saying they are more likely to be loyal to a brand that offers transparency.

Crescent Wealth is the first super fund to invest clients’ money according to the values of the Islamic faith. In addition, they also actively educate people within the Islamic community about retirement planning, contribute to not-for-profits that support the Islamic community, and amplify the voices of the Muslim community with the aim of creating social and political change. Moving beyond just investing money ethically, Crescent Wealth has defined its branding by giving back to the community. These charitable initiatives not only incentivise the Islamic community to choose Crescent Wealth, but giving back to the community leaves 85% of customers with a more positive image of the super fund.

“ By improving the overall customer experience your brand can improve customer retention by 33% and customer satisfaction by 32%. ”

Future Super is slightly different, rather than aligning themselves with a specific community they have branded themselves based on their environmental and ethical values. Future Super has branded itself as actively fighting against climate change by not investing in industries such as fossil fuels, tobacco, live exports, and gambling. With 88% of consumers wanting the brands they work with to help them make a difference, Future Super’s ethical investing sets them apart from the large super funds and enables them to build brand trust and loyalty.

Defining a niche

Defining a niche isn’t an activity reserved only for super funds – all financial organisations can benefit from creating tailored, personalised services for specific market segments. Defining your finance brand’s market niche is the first step in creating a targeted marketing strategy. But how can you do this?

  • Identify underserved communities and address their key financial problems
  • Identify key values your finance brand can address (such as environmental or social issues)
  • Select a specific demographic you can tailor your content and services to (for example, providing services for just women or only Gen Z)

Once you have identified your market niche, now you need to analyse and dissect their specific financial problems. Providing solutions that remove these pain points can enable you to deliver a superior customer experience. By improving the overall customer experience your brand can improve customer retention by 33% and customer satisfaction by 32%.

In the case of Crescent Wealth, they defined their niche as individuals who follow the Islamic faith. For Future Super, they defined a set of environmental and ethical values. Another great example of defining a niche is Nerve neobank, which provides banking services to musicians.

What all finance brands can learn

Defining a market niche isn’t just for super funds – every finance brand can benefit from it. Consumers are demanding more tailored and personalised services and it’s up to your finance brand to deliver them if you want to generate and acquire leads. Create services for specific market segments and reap the rewards long into the future.

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