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How Colonial First State made 95,000 millennials interested in super

Excellent content helped Colonial First State reach a younger audience and get millennials to care about their superannuation.

Key objectives

  • Increase Colonial First State’s presence among a younger audience and build a relationship with them.
  • Boost engagement and interaction with content.
finance marketing for Gen Y

Background

Most young people don’t think about superannuation in their day to day life, unless they really have to. For most it seems like a problem for the future, when they’re older. It’s important for finance companies to enter into conversation with customers about superannuation throughout their life, in particular when they move jobs, which often prompts a move in superannuation fund.

Colonial First State (CFS) is one of Australia’s leading wealth management groups. It wanted to engage with existing and potential younger clients by providing insightful and intelligent content that focused on their work-life. But first, it came to Mahlab for guidance on how to create a genuine connection with their audience.

Our approach

CFS had some aspects of a content strategy from a previous agency, however they needed recommendations on which segments to target with content, at what frequency and on which channels.

Mahlab created a content calendar and messaging framework based on personas such as affluent millennials and career adjusters. We used this to guide the regular blog posts that were published on CFS’s Guidance portal. This content was also promoted on LinkedIn, where the company’s career-focused audience resides.

To cut through the apathy towards a company typically known for superannuation, the content was highly practical and focused on the everyday problems for each segment. From talking to millennials who had struck out on their own about how they did it, to guides on how to manage a difficult boss, the content allow CFS to build relationships with an audience that is typically not interested in talking to financial institutions.

The outcome

At the six month review, LinkedIn reported that the content smashed through benchmarks for the finance industry. As one LinkedIn representative put it – “A few years ago people were talking about BT Financial’s content; now they are talking about yours”.

  • The company began a conversation with career adjusters (74,166 impressions) and affluent millennials (74,896 impressions).
  • The effective cost-per-click came in well below the typical industry range at $6.16. The average cost-per-click on LinkedIn is $6.50.
  • The campaign click through rate is above LinkedIn benchmarks by 190%.
  • Audience engagement rates came in above LinkedIn benchmarks by 156%.
  • The campaign reached more than 95,859 people and delivered 217.5K impressions.

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