What is the Mumbrella Finance Marketing Summit?
The Mumbrella Finance Marketing Summit invites Australian market leaders in Superannuation, Insurance, Banking & Finance, to discuss insights and key issues impacting a market going through unprecedented change. Regardless of the impact of Covid-19, the industry is constantly changing due to compliance regulations, online privacy updates and the new federal budget.
Global Reviews had the pleasure of being the first on stage to kick start the day. I caught up with one of our resident client advisors, Ash Pegram, to chat about the various insights from the day, and how it felt speaking in front of a live audience again (there's nothing like performing live!!).
Ash, how did it feel speaking to a room of over 200 people, rather than the way we usually work, speaking through a video call with a blurred background? Were you nervous?
Being the keynote speaker (which we didn’t know until the running order was announced) generated a bit of anxiety, but in situations like these, you just fall back onto your authentic self to get you through. Authenticity is important when talking in front of a group – people see right through fake personas. So we cracked some jokes, and the rest came naturally.
The Finance Marketing Industry is so broad, what did you and Ger decide to focus on in your speeches?
We focused on two product verticals: Superannuation and Insurance. Superannuation and insurance are sectors in constant flux. Legislative changes require brands to act quickly, recalibrate their product portfolios and remind their members –who are empowered to openly compare and assess performance - why they are the best choice. Both are also ‘grudge’ purchases - no one wants them in their life, and the relationship with both industries changes as people move throughout different life stages.
With that context in mind, we used our latest research to demonstrate some tangible way that brands within these industries could increase engagement with them and see them as useful providers of tools and knowledge as opposed to a functional brand that they only ever interact with when external forces drive them to.
What are you seeing the most in your work with Superannuation clients? What is keeping them up at night?
We have an ageing population, so the transition to retirement and pension accounts, in general, are becoming more of a talking point. Our latest research has shown that TTR is a foreign concept to the majority of Australians reaching preservation age, so not only does the industry need to educate people on what it is but also speak to the benefits and, lastly, why that brand is the one they should go with as they transition to retirement.
The summit had a variety of speakers across all industries and backgrounds. Was there a major theme that emerged from the day? What did you like the most about the other speakers sessions and talking points?
The role of brand in financial marketing was a key topic throughout the day. Brand managers within financial industries have a tough job right now – they have to not only be the custodians of how the brand looks and feels but internally, they need to get everyone on the same page when it comes to the purpose of the brand, what the brand is and isn’t as well as how the brand experience needs to be rolled out. This problem is only exacerbated when you have multiple products under one name (e.g. brands that operate within superannuation AND insurance).
Digital is affecting the way we work and live, we want the best digital experience, every single time we go online. The standard is constantly increasing because of how often we engage in digital activities. Do you think there will be a time where we handle all our finances/day-to-day spending online?
We already do, whether you see it or not. I don’t even think the word ‘digital’ is used in conversations with clients because it’s inherent and embedded within a company’s DNA. It’s like oxygen – we don’t see it, but everyone shares it, and it’s ubiquitous.
To summit all up (you know I had to), live events are BACK! We are eager to keep the conversation going about our work on competitive intelligence and its impact on digital customer experience and the end2end customer journey. We look forward to make more in-person appearances in the future. A special thank you to Mumbrella and everyone involved in making the day so professional and engaging.