Super funds get serious about social mediaBY MARK STORY | WEDNESDAY, 6 FEB 2013 11:50AMWith social media becoming increasingly more powerful as a means of systemising client engagement, a clear strategy is needed for targeting members and managing risk, according to Buchan Consulting.
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I'm in no way against use of social media, it can be an incredibly powerful tool but there seems to be a rush by funds (and a push by media/experts for fund) to take up social media. And I don't believe that enough consideration has been given the the efficacy of using social media. Fund members who need the most amount of communicating to 'the most', are those in or approaching retirement. Has anyone stopped to look at the penetration rates of social media use in the cohort of 65+ year old?
Coupled to this, are those cohorts most aligned with social media use, very easy to engage with? It would be fair to hypothesis that HostPlus has one of the youngest member cohorts (a lot of members working hospitality while at uni etc), who would higher social media penetrations. Yet out of 1m odd members, they have just over 2,000 twitter followers.