Like you, we were expecting some tinkering with super in the Federal budget.  But we didn’t quite get what we expected! Whether it’s Labor or Liberal in power after July 2, I think it’s safe to say that the super party has just come to an abrupt halt. When RBLs were abolished in 2007, it seemed as through the super party was going to go on forever.

There are plenty of lists focused on how to do marketing successfully, but what mistakes do SMSF firms need to steer clear of to help ensure their marketing strategy is effective?

Here are six easy to make mistakes that will stop your marketing from being as successful as it could be.

What’s your business’s strategy when it comes to self managed super. And I don’t mean “well we always try to get our clients to use a corporate trustee.”

What I mean is, what’s your BUSINESS strategy. For instance: Which segments of the market are you concentrating on? Are there enough of these people to make you a decent income? What are you offering them? And how are you attracting them? 

Keeping staff out of the loop with what’s happening in the business could actually be damaging for the productivity and efficiency of your practice. Here’s a question for you: how much should you tell your staff about what’s going on in your business?

Say you decided to sell your business. When is the right time to tell the staff? After it’s sold? Once you have a serious buyer? Or, how about, when you start thinking about selling? Now, you might think that is too early. But I disagree.

It’s everyone’s job. Not just marketing, not just sales, not just the call centre – everyone. A great customer experience starts with the culture of the company. And what is ‘culture’? Well, it’s the way we do things around here. What’s acceptable behaviour, and what’s not. And it’s important to customer experience because there is a direct correlation between the way people in a company treat each other, and the way they treat customers.

In fact, there’s a school of thought that says that customers aren’t the most important thing, your staff are. And I’m inclined to agree with this. When your business has a clear culture, and everyone loves coming to work, when your team knows what’s expected of them, when they know WHY you’re in business in the first place, then you have the foundation in place on which to build an excellent customer experience. 

Well February is almost done and for Mayflower it’s been a month of interesting conversations. One of the exciting reasons for that is because we’ve started recording interviews for a new podcast – the Mayflower Fintech Show.
 
Yes, the buzzword of the decade, fintech! But we’re going to get behind the hype of robo-advice and ‘lean start-ups’, to look at what fintech really is, what’s working and how it’s going to change the world for advisers, accountants and of course the general public.

OK, so that’s taking the mickey a bit, but let’s be honest with ourselves, that half a trillion dollars is the main reason that most product providers are interested in self managed super funds.

But as countless product and service providers have discovered, getting your dirty mits on all that caaaaaaaash is way harder than it first appears. There are a couple of reasons for this.